Asia-Pacific lithium ion battery binder market is predicted to grow considerably at a CAGR of 15.5 % during the forecast period (2021-2027). The presence of major manufacturers of batteries across the region is a key factor driving the growth of lithium ion battery binder market in Asia-Pacific. Easy availability of low-cost raw material and skilled labor are some key factors that have contributed to the high presence of battery manufacturers across the Asia-Pacific. China, Japan & South Korea are key contributors to the high share of the regional market. India is engaging itself in batteries production facility expansion projects to increase its share in regional market. Apart from production part, the growing demand for smart wearable devices is further aiding to the demand for lithium ion batteries which in turn is driving Asia-Pacific lithium ion battery binder market.
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Asia-Pacific lithium ion battery binder market is segmented based on type and end-user industry. Based on type, the market is segmented into cathode binder and anode binders. Based on end-user industry, the market is segmented into consumer electronics, automobiles, aerospace & defense and others. Based on end-user industry, the consumer electronics segment is anticipated to exhibit significant growth in the Asia-Pacific lithium ion battery binders market. The growing consumer electronics industry owing to integration of advanced technologies such as IoT and AI is anticipated to drive the growth of this market segment.
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Asia-Pacific Lithium Ion Battery Binder Market Segmentation
By Type
· Cathode Binders
· Anode Binders
By End-User Industry
· Consumer Electronics
· Automobile
· Aerospace & Defense
· Other
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
