Lithium-ion Battery Binders Global Market Report 2024

The lithium-ion battery binders market size has grown rapidly in recent years. It will grow from $2.12 billion in 2023 to $2.51 billion in 2024 at a compound annual growth rate (CAGR) of 18.6%. The growth observed in the historical period can be attributed to the surge in electric vehicle adoption, the expansion of portable electronic devices, the growth in renewable energy storage, the increase in consumer electronics demand, and the adoption of lithium-ion batteries in aerospace.

The lithium-ion battery binders market size is expected to see rapid growth in the next few years. It will grow to $4.68 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The anticipated growth in the forecast period can be attributed to improvements in the energy density of batteries, the growth in electric grid applications, the adoption of lithium-ion batteries in medical devices, the demand for lightweight battery solutions, the integration of lithium-ion batteries in smart devices, and the customization of binders for specific battery chemistries. Key trends in the forecast period include technological innovations in battery materials, advancements in lithium-ion battery technology, collaboration between battery manufacturers and automakers, the development of sustainable and eco-friendly binders, and the integration of artificial intelligence in battery manufacturing.

The anticipated increase in the adoption of electric vehicles (EVs) is poised to drive the growth of the lithium-ion battery binders market in the future. Electric vehicles (EVs) are vehicles powered by electric motors utilizing electrical energy stored in rechargeable batteries or obtained externally. Lithium-ion batteries, renowned for their high energy density, reliability, and ability to provide ample power for extended driving distances on a single charge, are the predominant choice for electric vehicles (EVs). As of March 2022, data from the United States Department of Energy revealed an 85% increase in EV sales between 2020 and 2021. The number of new light-duty plug-in electric vehicle sales nearly doubled from 308,000 in 2020 to 608,000 in 2021, with EV sales constituting 73% of all plug-in electric car sales in 2021. Thus, the surging adoption of electric vehicles (EVs) is a significant driver for the growth of the lithium-ion battery binder market.

The escalating demand for consumer electronic devices is anticipated to contribute to the expansion of the lithium-ion battery binders market. Consumer electronic devices, including smartphones, laptops, and entertainment gadgets, utilize lithium-ion battery binders to enhance electrode stability, promote ion conductivity, and ensure efficient charge and discharge cycles. These factors contribute to prolonged battery life and overall performance. As of May 2023, information from the Japan Electronics and Information Technology Industries Association indicated that the total electronic equipment production in Japan reached $52,36,535 million (¥771,457 million). Additionally, consumer electronics production amounted to $2,178,430 million (¥32,099 million) in May 2023, compared to $1,714,724 million (¥25,268 million) in May 2022. Hence, the rising demand for consumer electronic devices is propelling the growth of the lithium-ion battery binder market.

A significant trend in the lithium-ion battery binder market is the emphasis on product innovation by major companies to strengthen their market positions. In June 2021, Arkema SA, a France-based specialty materials manufacturer, introduced Kynar PVDF (Polyvinylidene fluoride) for lithium-ion batteries. This unique product, produced using only renewable carbon from bio-feedstocks such as crude oil, can reduce the climate change impact by around 20%, as per the ISO 14040 standard. The renewable PVDF binder aids in binding active components and preventing clumping in lithium-ion batteries, contributing to improved performance and safety while minimizing the carbon footprint.

Major players in the lithium-ion battery binder market are actively developing products such as acrylic-based binders to enhance battery performance, durability, and sustainability. In September 2023, Arkema SA launched the INCELLION range under the brand name, specifically designed for application in electric vehicle (EV) and energy storage system (ESS) battery cells. This innovative product line includes advanced acrylic-based binders, dispersants, and rheology modifiers crafted to enhance electrode and separator formulations. The INCELLION El waterborne acrylic polymers, serving as binders for anode active materials, enable increased silicon (Si) formulation while providing mechanical strength and flexibility to address volume expansion challenges.

In November 2021, Koura, a US-based chemical manufacturing company, acquired Silatronix for an undisclosed amount. This strategic acquisition aims to expand Koura's presence in the lithium-ion battery market and advance new and improved lithium-ion battery technologies. Silatronix is a US-based manufacturer specializing in lithium-ion battery binders.

Major companies operating in the lithium-ion battery binders market report are Mitsui Chemicals Inc., BASF SE, Dow, SABIC, LG Chem, Covestro AG, Solvay SA, Sumitomo Chemical Co. Ltd., Asahi Kasei Corporation, DuPont, Arkema SA, Toray Industries Inc., UBE Corporation, Zeon Corporation, Denka Company Limited, Dongyue Group Limited, JSR Corporation, Ashland Inc., Kureha Corporation, Topsoe, Targray Technology International Inc., Mitsubishi Chemical Corporation, Shanghai 3F New Materials Co. Ltd., Suzhou Crystal Clear Chemical Co. Ltd., APV Engineered Coatings


Asia-Pacific was the largest region in the lithium-ion battery binders market in 2023. The regions covered in the lithium-ion battery binders market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the lithium-ion battery binders market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary types of lithium-ion battery binders include anode binders and cathode binders. An anode binder is a material used in the manufacturing of lithium-ion batteries, serving as a conductive adhesive to ensure optimal electrical contact between the active materials and the current collector. It encompasses various battery chemistries such as lithium iron phosphate, lithium nickel manganese cobalt, lithium titanate oxide, and others. Materials commonly applied include polyvinylidene fluoride, carboxymethyl cellulose, polymethyl methacrylate, and styrene-butadiene copolymer. These binders find applications in various sectors, including automotive, consumer electronics, industrial, energy storage, and others.

The lithium-ion battery binders market research report is one of a series of new reports that provides lithium-ion battery binders market statistics, including lithium-ion battery binders industry global market size, regional shares, competitors with a lithium-ion battery binders market share, detailed lithium-ion battery binders market segments, market trends and opportunities, and any further data you may need to thrive in the lithium-ion battery binders industry. This lithium-ion battery binders market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The lithium-ion battery binders market consists of sales of polyethylene oxide, polyvinylpyrrolidone, polyacrylonitrile, and polyimides. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.