European lithium ion battery binder market is predicted to grow considerably at a CAGR of 12.8% during the forecast period. The market growth is attributed to the increasing demand for lithium ion batteries from the well-established automotive industry across the region. The rapid deployment of EVs to reduce carbon footprints is further supporting the market growth. Further, the high adoption rate of advanced technical gadgets across the region has fueled the demand for lithium ion batteries. As per the American Chemical Society (ACS), Europe held only a 3.0% share of the global lithium-ion battery market in 2020. Therefore, in order to fulfil the high demand for lithium ion battery several manufacturers are making attempts to establish their production facilities across the region. Battery binder is a key element of lithium ion battery; high production of batteries will result in high demand for battery binders, therefore, the increase in capacity expansion activities is anticipated to drive the regional market growth.
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European 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 European 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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European Lithium Ion Battery Binders 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.)
