The market size of lithium-ion battery dispersant is estimated to grow from USD 735 million in 2022 to USD 1,285 million by 2027, at a CAGR of 11.8% during the forecast period. The lithium-ion battery dispersant market has been growing at a moderate pace over the past five years, owing to rapid technological advancements and expansion in the electric vehicle sector. Key players in the lithium-ion battery dispersant market include. Ashland (US), Kao Corporation (Japan), LG Chem (South Korea), Toyocolor Co., Ltd. (Japan), The Lubrizol Corporation (US), Croda International PLC (UK), Borregaard AS (Norway).
Lithium-ion battery dispersants can be categorized into three types, namely, block co-polymer, naphthalene sulfonate, lignosulfonate, and others. Lithium-ion battery dispersant improves efficiency and productivity as well as ensures high energy retention in a lithium-ion battery, thereby improving the energy efficiency of end products that leads to reduced production costs and improved quality of products.
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Among dispersant types, naphthalene sulfonate is expected to grow at the highest CAGR during the forecast period in terms of value. Naphthalene sulfonates have excellent wetting and dispersing properties. Naphthalene sulfonate is used as a dispersant in lithium-ion batteries to give an optimal dispersing effect. It also increases the energy retention capacity of the battery. These factors are essential for the manufacturing of lithium-ion batteries, majorly electrodes. Thus, it will drive the market for naphthalene sulfonate lithium-ion battery dispersants.
On the basis of end-use, the electric vehicle segment accounted for the largest segment of the lithium-ion battery dispersant market in 2021. An increase in demand for high battery efficiency and longer energy retention rate is driving the market for lithium-ion batteries in the automotive industry. Thus, the growing usage of lithium-ion batteries in the automotive industry is expected to drive the market for this segment during the forecast period.
Substantial investments have been made in the past few years by the key players to address the growing demand for lithium-ion battery dispersants. These players have been focusing on product launches to cater to the increasing demand for lithium-ion battery dispersants in the market.
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LG Chem is one of the largest manufacturers and distributors of lithium-ion battery dispersants. LG Chem is one of the leading chemical manufacturing companies and offers its products under five product segments—petrochemicals, energy solutions, advanced materials, life sciences, and common & others. Along with lithium-ion battery dispersant, the company also offers various kinds of IT materials such as polarizers, automotive materials for LCD photoresists, OLED materials, battery materials and others, as well as reverse osmosis (RO) membrane. The dispersant offered by the company is specially focused on applications such as automobile batteries which is the growing market for lithium-ion battery. The company has more than 20 subsidiaries. It has a regional presence in Asia Pacific, Europe, and North America.
Ashland is one of the major players which provide specialty materials to cater to a wide range of applications, including architectural coatings, construction, energy, food & beverage, nutraceuticals, personal care, and the pharmaceutical industry. The company offers its products under four segments—life sciences, personal care & household, specialty additives, and intermediates & solvents. Ashland sells the dispersant used for lithium-ion batteries under the Soteras brand. Ashland offers lithium-ion battery dispersant for a water-based slurry of lithium-ion battery electrode preparation, which is used both for anode and cathode preparation. The company has R&D centers and a regional presence in North America, Europe, and Asia Pacific.
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