Electric Vehicle Battery Separator Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.44 Billion |
| Market Size (2029) | USD 2.45 Billion |
| CAGR (2024 - 2029) | 11.21 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Electric Vehicle Battery Separator Market Analysis
The Electric Vehicle Battery Separator Market size is estimated at USD 1.44 billion in 2024, and is expected to reach USD 2.45 billion by 2029, growing at a CAGR of 11.21% during the forecast period (2024-2029).
- Over the medium period, the growing adoption of electric vehicles and the decreasing price of lithium-ion batteries is expected to drive the market in the forecast period.
- On the other hand, the supply chain gap in battery materials created by the monopolies of some countries, such as ingredient shortages or distribution bottlenecks, is expected to restrain market growth in the future.
- Nevertheless, the increasing research and development of other battery chemistries like solid-state batteries, advanced lithium-ion chemistry, Sodium-ion batteries, etc, are expected to create an opportunity for the market in the future.
- North America is expected to have significant growth in the market during the forecast period, with most of the demand coming from countries like the United States, Canada, etc.
Electric Vehicle Battery Separator Market Trends
Lithium-ion Battery Segment is Expected to Dominate the Market
- A battery separator, a porous membrane, plays a crucial role in lithium-ion batteries. It prevents electrical short circuits by isolating the cathode and anode, ensuring only lithium ions can pass through.
- In recent years, lithium-ion batteries have emerged as the most commonly used battery technology in electric vehicles. This is due to several advantages associated with them, such as high energy density, relatively long cycle life, and efficiency.
- According to the International Energy Agency, demand for EV batteries reached more than 750 GWh in 2023, up 40% relative to 2022. The majority of these batteries are lithium-ion technology. As lithium-ion battery application in electric vehicles increases, the demand for battery separators for lithium-ion battery technology is expected to increase simultaneously.
- Additionally, the decreasing price of lithium-ion batteries is expected to drive the use of this technology in electric vehicles, which, in turn, will boost the demand for the use of battery separators of lithium-ion technology. In 2023, the price of lithium-ion battery packs suffered a 14% drop compared to the previous year to USD139/kWh.
- Further, as research and development continue to develop more stable and efficient battery separators for electric vehicles, the demand for lithium-ion technology battery separators is expected to increase.
- For instance, in February 2024, Scientists at Incheon National University devised a method to enhance the stability and characteristics of lithium-ion battery separators. They achieve this by incorporating a layer of silicon dioxide along with other functional molecules. Such developments will improve the functionality of lithium-ion separators in electric vehicle applications.
- Thus, owing to the increasing demand for lithium-ion batteries and the technological development of battery separators used in electric vehicles, this segment is expected to have a major share of the market.
North America is Expected to Dominate the Market
- The North American electric vehicle market is majorly driven by the five major players, accounting for more than 70% of the market in 2023. These prominent players include Tesla, Toyota Group, Ford Group, Hyundai, and Honda. Tesla is the highest seller of electric vehicles in North American countries. As the demand for electric vehicles increases, the use of batteries in these vehicles will also increase, thereby driving the electric vehicle battery separator market.
- The demand for electric vehicles is increasing continuously in North America. According to the Energy Information Administration, the combined sales of hybrid vehicles, plug-in hybrid electric vehicles, and battery electric vehicles (BEV) in the United States rose to 16.3% of total new light-duty vehicle (LDV) sales in 2023, which was 12.9% in the previous year.
- Further, supportive government policies are also affecting the demand for electric vehicle batteries, thereby affecting the demand for the electric vehicle battery cathode market. Governments across North America have been rolling out policies and incentives to spur EV adoption. These initiatives encompass tax credits, grants, rebates, and investments in charging infrastructure. Such support has bolstered consumer interest in EVs, thereby driving the demand for battery separators.
- With the support of the government, electric vehicle manufacturers are investing in opening local factories for battery separators in the region, thereby easing the supply chain. For instance, in April 2024, Honda Motor Co. Ltd agreed with Asahi Kasei Corporation to produce battery separators for automotive batteries in Canada.
- Thus, owing to the growing number of electric vehicles and increasing local manufacturing of electric vehicle battery separators, the region is expected to dominate the market in the forecast period.
Electric Vehicle Battery Separator Industry Overview
The electric vehicle battery separator market is moderately fragmented. Some of the major players in the market (in no particular order) include Entek International, SK Innovation Co. Ltd, Mitsubishi Chemical Group Corporation, Toray Industries Inc., and Sumitomo Chemical Co. Ltd, among others.
Electric Vehicle Battery Separator Market Leaders
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SK Innovation Co. Ltd.
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Mitsubishi Chemical Group Corporation
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Sumitomo Chemical Co., Ltd.
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Toray Industries Inc
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Entek International
*Disclaimer: Major Players sorted in no particular order
Electric Vehicle Battery Separator Market News
- In January 2024, 24M introduced a battery separator, the 24M ImpervioTM, set to revolutionize battery safety across electric vehicles. This innovative technology marked a significant leap in safety for both lithium-ion and lithium-metal batteries, offering a crucial solution to combat catastrophic fires and the need for extensive recalls, often triggered by metallic dendrites.
- In May 2023, SKIET announced a strategic move, signing a memorandum of understanding with Sunwoda. The agreement aimed to strengthen the supply of battery separators. Specifically, SKIET intends to provide Sunwoda with separators manufactured at its Changzhou facility in China.
Electric Vehicle Battery Separator Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD, till 2029
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
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4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.1.1 The Growing Adoption of Electric Vehicles
- 4.5.1.2 Decreasing Price of Lithium-ion Batteries
- 4.5.2 Restraints
- 4.5.2.1 The Supply Chain Gap
- 4.6 Supply Chain Analysis
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4.7 Industry Attractiveness - Porter's Five Forces Analysis
- 4.7.1 Bargaining Power of Suppliers
- 4.7.2 Bargaining Power of Consumers
- 4.7.3 Threat of New Entrants
- 4.7.4 Threat of Substitutes Products and Services
- 4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Battery Type
- 5.1.1 Lithium-ion
- 5.1.2 Lead-acid
- 5.1.3 Other Battery Type
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5.2 Material Type
- 5.2.1 Polypropylene
- 5.2.2 Polyethylene
- 5.2.3 Other Material Types
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5.3 Geography [Market Size and Demand Forecast till 2029 (for regions only)]
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Rest of North America
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 France
- 5.3.2.3 United Kingdom
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 NORDIC
- 5.3.2.7 Russia
- 5.3.2.8 Turkey
- 5.3.2.9 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 India
- 5.3.3.3 Australia
- 5.3.3.4 Japan
- 5.3.3.5 South Korea
- 5.3.3.6 Malaysia
- 5.3.3.7 Thailand
- 5.3.3.8 Indonesia
- 5.3.3.9 Vietnam
- 5.3.3.10 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 5.3.4.1 Saudi Arabia
- 5.3.4.2 United Arab Emirates
- 5.3.4.3 Nigeria
- 5.3.4.4 Egypt
- 5.3.4.5 Qatar
- 5.3.4.6 South Africa
- 5.3.4.7 Rest of Middle East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Colombia
- 5.3.5.4 Rest of South America
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted & SWOT Analysis for Leading Players
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6.3 Company Profiles
- 6.3.1 Entek International
- 6.3.2 SK Innovation Co. Ltd
- 6.3.3 Mitsubishi Chemical Group Corporation
- 6.3.4 Hitachi Chemical Company Ltd
- 6.3.5 Toray Industries Inc.
- 6.3.6 Sumitomo Chemical Co. Ltd
- 6.3.7 UBE Corp
- 6.3.8 Teijin Ltd
- 6.3.9 Yunnan Enjie New Materials Co. Ltd
- 6.3.10 Cangzhou Mingzhu Plastic Co. Ltd
- *List Not Exhaustive
- 6.4 List of Other Prominent Companies
- 6.5 Market Ranking/Share (%) Analysis
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 The Increasing Research and Development of Other Battery Chemistries
Electric Vehicle Battery Separator Industry Segmentation
An electric vehicle battery separator is a crucial element physically separating the positive and negative electrodes within the battery cell. It prevents short circuits while allowing ions to pass through, facilitating the flow of current necessary for powering the vehicle.
The electric vehicle battery separator market is segmented by battery type (lithium-ion, lead-acid, and other battery types), material type (polypropylene, polyethylene, and other material types), and geography (North America (United States, Canada, and Rest of North America), Europe (Germany, France, United Kingdom, Italy, Spain, Nordic, Russia, Turkey, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, South Korea, Malaysia, Thailand, Indonesia, Vietnam, and Rest of Asia-Pacific), the Middle East and Africa ( Saudi Arabia, United Arab Emirates, Nigeria, Egypt, Qatar, South Africa, and Rest of the Middle East and Africa), and South America (Brazil, Argentina, Colombia, and Rest of South America). The report also covers the market size and forecasts for the electric vehicle battery separator market across major regions. For each segment, the market sizing and forecasts were made based on revenue (USD).
| Battery Type | Lithium-ion | |
| Lead-acid | ||
| Other Battery Type | ||
| Material Type | Polypropylene | |
| Polyethylene | ||
| Other Material Types | ||
| Geography [Market Size and Demand Forecast till 2029 (for regions only)] | North America | United States |
| Canada | ||
| Rest of North America | ||
| Geography [Market Size and Demand Forecast till 2029 (for regions only)] | Europe | Germany |
| France | ||
| United Kingdom | ||
| Italy | ||
| Spain | ||
| NORDIC | ||
| Russia | ||
| Turkey | ||
| Rest of Europe | ||
| Geography [Market Size and Demand Forecast till 2029 (for regions only)] | Asia-Pacific | China |
| India | ||
| Australia | ||
| Japan | ||
| South Korea | ||
| Malaysia | ||
| Thailand | ||
| Indonesia | ||
| Vietnam | ||
| Rest of Asia-Pacific | ||
| Geography [Market Size and Demand Forecast till 2029 (for regions only)] | Middle East and Africa | Saudi Arabia |
| United Arab Emirates | ||
| Nigeria | ||
| Egypt | ||
| Qatar | ||
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography [Market Size and Demand Forecast till 2029 (for regions only)] | South America | Brazil |
| Argentina | ||
| Colombia | ||
| Rest of South America |
Electric Vehicle Battery Separator Market Research FAQs
How big is the Electric Vehicle Battery Separator Market?
The Electric Vehicle Battery Separator Market size is expected to reach USD 1.44 billion in 2024 and grow at a CAGR of 11.21% to reach USD 2.45 billion by 2029.
What is the current Electric Vehicle Battery Separator Market size?
In 2024, the Electric Vehicle Battery Separator Market size is expected to reach USD 1.44 billion.
Who are the key players in Electric Vehicle Battery Separator Market?
SK Innovation Co. Ltd., Mitsubishi Chemical Group Corporation, Sumitomo Chemical Co., Ltd., Toray Industries Inc and Entek International are the major companies operating in the Electric Vehicle Battery Separator Market.
Which is the fastest growing region in Electric Vehicle Battery Separator Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Electric Vehicle Battery Separator Market?
In 2024, the North America accounts for the largest market share in Electric Vehicle Battery Separator Market.
What years does this Electric Vehicle Battery Separator Market cover, and what was the market size in 2023?
In 2023, the Electric Vehicle Battery Separator Market size was estimated at USD 1.28 billion. The report covers the Electric Vehicle Battery Separator Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Electric Vehicle Battery Separator Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Electric Vehicle Battery Separator Industry Report
Statistics for the 2024 Electric Vehicle Battery Separator market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Electric Vehicle Battery Separator analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
