With the increasing demand for electric vehicles (EVs), renewable energy storage, and consumer electronics, the market for battery separators has seen significant growth.
The rise in the number of features in HEVs has led to considerable growth in the battery market, in turn driving the battery separator market. The global battery separator market is highly competitive with the presence of several domestic and international vendors.
Why is the demand for battery separators increasing in 2022?
The growing demand for passenger cars in the U.S. is expected to augment the lead-acid batteries demand further, thereby boosting the demand for battery separators. The lithium-ion battery type segment dominated the global market in 2022 and accounted for a revenue share above 56.0%.
What is the market share of dry battery separator technology in 2022?
The dry battery separator technology segment dominated the global market in 2022 and accounted for the largest share of above 61.0% of the overall revenue. The widespread usage of smartphones, laptops, wearables, and other portable devices relies on lithium-ion batteries with dry separators to provide efficient and safe energy storage.
How many square feet does a battery separator use?
An average car battery uses 1.5 square meters or 16 square feet of separator film to envelope or wrap all the lead plates. Therefore, the rise in the number of features in HEVs has led to considerable growth in the battery market, in turn driving the battery separator market.
EVs require large and high-performance batteries, and the demand for these batteries has a direct impact on the demand for high-quality separators. Thus, the increasing sales of EVs in the U.S., owing to supportive federal policies coupled with the presence of market players in the country, are expected to drive the product demand.
Why do battery separators have a low bargaining power?
According to Raghu Raj Singh, an industry expert at Technavio for research on embedded systems, "suppliers of battery separators have a low bargaining power because there are many vendors in the market that provide the raw material required to develop battery separators". This means that battery separator manufacturers are not reliant on a single supplier for their raw materials, allowing them to negotiate favorable prices.