Battery Coating Market: Current Analysis and Forecast (2022-2028)
$3999 – $7577
Emphasis by Material (Ceramic, Alumina, Oxide, Carbon, and Others); Battery Component (Electrode Coating, Separator Coating, and Battery Pack Coating); Application (Power Generation, Automobiles, Oil and Gas, Electronics, and Others); and Region and Country
Detailed Analysis of COVID-19 Impact on the Battery Coating Market
The Global Battery Coating Market is likely to showcase a growth of around 13% during the forecast period. Battery coating is a core technology that is used for the manufacturing of lithium-ion secondary batteries. It is a thin film deposition technology used in the electrochemical industry. Specific materials are coated on the substrates such as the anode, cathode, and separator for isolating them, which combine to form the layered electrode. Battery coatings are generally used for providing high density, high permeability, and minimum energy loss in the cores of the transformers, motors, and generators. The increasing urbanization resulted in a rise in the consumption of electric vehicles and the growing automotive industry is rising the battery coating market globally as it increases the performance of cars, vehicles, and electric devices. Also, it has a high demand for power and high-speed cars as it helps in improving their efficiency, reduces energy loss, and other benefits. Additionally, battery coating emits a lower level of carbon dioxide which makes it environment-friendly material. Batteries also possess strong power density and have unique properties such as high permeability. Therefore, the manufacturers have been focusing on producing new products for specific applications according to their utilization. For instance, Tesla’s advanced battery research group in Canada in collaboration with Dalhousie University has released a paper on novel nickel-based battery tech that could last 100 years while also delivering similar charging and energy density as currently used Lithium Ferrum (iron) Phosphate cells. The above factors would fuel the battery coating market.
Insights Presented in the Report
“Amongst materials, alumina has a prominent share in the battery coating market”
Based on material, the market is categorized into ceramic, alumina, oxide, carbon, and others. Among these, alumina has a prominent share in the battery coating market. This can be attributed to the fact that high quality of alumina, easy accessibility, and less intricate battery coating process relative to other material types.
“Amongst battery components, electrode coating has considerably had a large share in the battery coating market”
Based on battery components, the market is categorized into electrode coating, separator coating, and battery pack coating. Among these, electrode coating has considerably had a large share in the battery coating market. As there is an increase in demand for electrode coating in lithium-ion batteries for the high performance and protection of the batteries. Also, there is an increase in demand for more sustainable batteries, especially in EVs, smart devices, and energy storage systems. These factors will drive the growth of the electrode coating segment.
“Amongst applications, automobiles have a considerable share in the battery coating market”
Based on application, the market is categorized into power generation, automobiles, oil and gas, electronics, and others. Among these, automobiles accounted for a significant share of the battery coating market. Battery coatings are generally used for providing high density, high permeability, and minimum energy loss in the cores of electric motors, and generators. It also helps in providing electrical resistivity and ultimately reduces magnetic losses. Due to these factors, battery coating is widely adopted by electric vehicle manufacturers. For instance, in November 2021, Nissan announced an investment of $17.6 billion (JPY 2 trillion) over the next five years on developing a cheaper, more powerful battery to boost its electric vehicle lineup.
“Asia-Pacific accounted for a considerable share in the global battery coating market”
For a better understanding of the market adoption of battery coating, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, United Kingdom, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific accounted for a significant share of the market and is expected to showcase substantial growth during the forecast period. This is due to increasing investment in the electric vehicle sector and the rising demand for smart devices in the region. For instance, China’s 14th five-year plan (2021-2025) emphasizes the significant expansion of the New Energy Vehicle (NEV) industry. The Chinese government targets 20% of all new car sales by 2025 to be electric, even adopting NEVs as the new generation of governmental vehicles. Different Chinese cities have various NEV adoption plans. For example, Shanghai targets to raise half of all new car sales to be pure electric vehicles, including buses, trucks, postal vehicles, and government cars by the middle of the decade. Moreover, South Korea is also witnessing significant growth in the battery coating industry due to the global expansion of its domestic brands. This will increase the demand for battery coating in the region.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive country-level analysis of the industry
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|1.4.||Currency used in Report|
|2.1.||Research Process of the Battery Coating Market|
|2.2.||Research Methodology of the Battery Coating Market|
|2.5.||Main Objective of the Battery Coating Market Study|
|5||GLOBAL BATTERY COATING MARKET COVID-19 IMPACT|
|6||GLOBAL BATTERY COATING MARKET REVENUE (USD MN), 2020-2028F|
|8.3.||Battery Pack Coating|
|9.3.||Oil and Gas|
|10.1.||North America Battery Coating Market|
|10.1.3.||Rest of North America|
|10.2.||Europe Battery Coating Market|
|10.2.6.||Rest of Europe|
|10.3.||Asia Pacific Battery Coating Market|
|10.3.5.||Rest of Asia Pacific|
|10.4.||Rest of the World Battery Coating Market|
|12||BATTERY COATING MARKET OPPORTUNITIES|
|13||BATTERY COATING MARKET TRENDS|
|14||LEGAL & REGULATORY FRAMEWORK|
|15.1.||Demand Side Analysis|
|15.2.||Supply Side Analysis|
|16||VALUE CHAIN ANALYSIS|
|17.1.||Porters Fiver Forces Analysis|
|18.1.||Targray Technology International Inc.|
|18.4.||Ashland Global Holdings Inc.|
|18.5.||Axalta Coating Systems Ltd.|
|18.7.||Tanaka Chemical Corp.|
|18.8.||SK Innovation Co. Ltd.|
|18.9.||Forge Nano Inc.|
|18.10.||Shandong Hengyi New Material Technology Co. Ltd.|
Research Methodology for Battery Coating Market Analysis (2019-2027)
Analyzing the historical market, estimating the current market, and forecasting the future market of battery coating, three major steps are undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the battery coating industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of battery coating through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the battery coating market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. The major segment is included in the report by material, battery component, and application. Further regional and country-level analyses were conducted to evaluate the overall adoption of battery coating globally.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the battery coating. Further, we conducted factor analysis using dependent and independent variables such as increasing adoption of smart devices, demand for electric vehicles, and others. A thorough analysis was conducted for demand and supply-side scenarios considering an increasing investment, top partnerships, mergers and acquisitions, business expansion, and product launches in the battery coating industry.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global battery coating market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the bottom-up approach were applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of battery coating across the major markets
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the battery coating market. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants by Stakeholders and Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global battery coating market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of material, battery component, and application.
The main objective of the battery coating market study
The current & future market trends of global battery coating were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of battery coating in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include the area of material, battery component, and application
- Defined analysis of the regulatory framework for the battery coating industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of battery coating for the major countries
- Major regions/countries analyzed in the report include North America (United States, Canada, Rest of North America), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World
- Company profiles of the battery coating market players and the growth strategies adopted by them to sustain the growing market
- Deep dive country-level analysis of the industry