Li-ion battery segment performance in the global battery separator market.

The global battery separator market is expected to grow at a CAGR of 14.24% during the forecast period. Based on battery type the global battery separator market has been segmented into Lithium-ion battery, Lead-acid battery, and Others.

The demand for lithium-ion battery separators is expected to witness rapid growth during the forecast period owing to the high demand for lithium-ion batteries from the EV industry as well as the declining prices of this battery technology. Lithium-ion batteries belong to the family of lithium-metal chemistries, which are manufactured using different combinations of anode and cathode materials. Lithium-ion batteries have also emerged as the most promising solution for energy storage in EVs owing to their outstanding electrochemical performance and capacity.

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Lithium-ion batteries offer higher current density, longer power-holding capacity, and longer shelf life than any other battery technology currently available in the market, thus making this battery technology preferable to the rest. In consumer electronics applications, lithium-ion batteries have proven themselves as the ideal power source. To meet the demand for separators from the rapidly growing lithium-ion battery segment, several vendors in the market are increasing their production capacity for lithium-ion battery separators. Hence, the global battery separator market by the lithium-ion battery segment is expected to witness significant growth during the forecast period.