Binder-free Electrode Market Outlook 2031
- The global binder-free electrode market is expected to reach valuation of US$ 119.9 Mn by 2024
- It is estimated to grow at a CAGR of 18% from 2025 to 2031
- The global binder-free electrode market is projected to reach value of US$ 381.9 Mn by the end of 2031
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Overview of Binder-free Electrode Market
Lithium-ion batteries (LIB) have been widely used as energy supply and storage systems in electronics, electric vehicles, and utility grids. However, there is a growing need to increase the energy density of LIB. As a result, development of new electrode materials with high energy density is important. Binder-free electrode is a promising electrode for addressing some of the issues associated with lithium-ion batteries. Firstly, the interface issue of the binder and active materials can be resolved by fixing the active material directly to the conductive substrate. Secondly, the large volume expansion of active materials can be accommodated by the porosity of the binder-free electrode. Third, the ion and electron conductivity can be enhanced by the close contact between the conductive substrate and the active material. As a result, binder-free electrode exhibits excellent electrochemical performances.
Analysis of Key Players in Global Binder-free Electrode Market
The global binder-free electrode market is consolidated, with a small number of large-scale vendors controlling majority of the share. Most of the firms are investing substantially in comprehensive research and development activities, primarily to develop environmentally-friendly products. Expansion of product portfolios and mergers & acquisitions are the key strategies adopted by key players. Leading producers of binder-free electrode across the globe include Graphite India Limited, SGL Carbon, Tokai Carbon, HEG India, and Nippon Carbon Japan.
Regional Outlook of Global Binder-free Electrode Market
In terms of value, Asia Pacific is expected to account for 73.2% share of the global binder-free electrode market by 2024. This trend is expected to continue during the forecast period. Asia Pacific is anticipated to offer immense opportunities for binder-free electrodes during the forecast period, due to the rise in usage of binder-free electrodes in various end-use industries such as automotive and transportation, consumer electronics, energy storage system, aerospace and defense, and industrial. North America is expected to hold 12.5% share of the global binder-free electrode market by 2024, owing to the high demand for energy storage systems such as lithium-ion batteries, sodium-ion batteries, and potassium-ion batteries in the region.
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Rise in Demand for Flexible Batteries in Consumer Electronics to Propel Binder-free Electrode Market
The need for flexible batteries with high capacity is increasing, with the accelerated development of intelligent wearable and flexible electronics such as foldable smartphones, smart watches, and glass for augmented reality. However, conventional lithium-ion batteries (LIBs) have some limitations in achieving high areal capacity while maintaining flexibility.
Capacity and flexibility are essentially in a trade-off relationship due to the brittleness of inorganic active materials that determine the capacity of LIBs. Additionally, at a high loading of the active materials, the electrode becomes thick, resulting in poor electrochemical performance due to kinetic limitations. Therefore, a fundamentally different approach is required for loading a high quantity of active materials into flexible electroplating in LIBs. Therefore, carbon-based scalable binder-free electrode could be a viable alternative for conventional metal-based current collectors, as it is light, inexpensive, highly flexible, and has good electrical conductivity.
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