Lithium Ion Battery Separator Market Is Expected To Reach US$ 8.11 Bn by 2027

SAN JOSE, Calif. - Oct. 4, 2019 - PRLog -- According to a new market research study released by Credence Research,' the worldwide Lithium Ion Battery Separator Market is anticipated to achieve US$ 8.11 billion by 2027, increasing to CAGR by 11.3 percent during the 2019-2027 forecast.' Separators form an essential part of lithium-ion batteries. Separators are mostly used to avoid electrical conduction between the anode and the cathode and allow ion conductions through electrolytes. There are two different types of Li-Ion separators, like Wet separator and Dry separator. These separators generally consist of non-woven fiber, polymer films, and ceramic materials. Government standards and policies, efforts to reduce Li-Ion battery costs, increasing amount of off-grid solar power, and increasing electric vehicle adoption (EV) are anticipated to drive the lithium-ion battery separator market globally.

Browse Full Report Originally Published by Credence Research @ https://www.credenceresearch.com/report/lithium-ion-battery-separator-market

Market Insights

Manufacturers of electric vehicles (EV) are becoming one of the prominent lithium-ion battery customer base. With the increased demand for electric vehicles (EV), the consumption of lithium-ion batteries is anticipated to continue to rise, thus fueling the market demand for lithium-ion battery separators. Rising[ A1] penetration of electronic gadgets such as smartphones, tablets, etc. further drives demand for lithium-ion battery separators worldwide.

Growing demand for lithium-ion batteries has motivated few producers like SK IE Technology to boost their manufacturing ability by extending their manufacturing units in China. This extension project includes growing Lithium-Ion battery separator (LiBS) annual manufacturing capacity from 360 million square meters to 530 million square meters. In the same way, Toray Industries is planning to begin its new LiBS production plant for electric vehicles in Hungary. Increased demand for LiBS and increased participation of producers is anticipated to increase market demand for lithium-ion battery separators.

Increasing demand in Asia Pacific developing countries such as India and China for smartphones and tablets. This increase in demand leads to an increase in mobile battery consumption leading to global development in the lithium-ion battery separator industry. In the worldwide lithium-ion battery separator industry, Japan maintains the highest share followed by North America. Whereas Western Europe will have significant growth in the coming years. In addition, the Middle East and Africa and Eastern Europe hold the minimum share in the separator industry for lithium-ion batteries.

You can get the sample copy of this research by Credence Research here: https://www.credenceresearch.com/sample-request/59936