PUBLISHER: SNE Research | PRODUCT CODE: 1302348
PUBLISHER: SNE Research | PRODUCT CODE: 1302348
Since the advent of the electric vehicle era, there have been many articles about mineral prices. Changes in market prices of minerals such as lithium, cobalt, and nickel began to have news value as they directly affect the prices of secondary batteries for EVs. Lithium is an indispensable material for cathode material and electrolyte, and cobalt and nickel are major components of the ternary cathode material. In addition, the price of graphite, the main material for anode materials, has also begun to draw attention. In other words, cathode materials, anode materials, and electrolytes have instability in its prices.
On the other hand, the case for separator among the four components of the secondary batteries is a little different. Polypropylene or polyethylene, a kind of plastic, is mainly used as the material for separator regardless of method, dry or wet. This material has few issues as raw material. High added value is created by using ceramic and alumina as coating materials, compared to the value of its raw material. The raw material has a variety of market demand from carbon capture and lithium extraction technology, other than the secondary battery separator.
This SNE Research report is putting focus on the separator market, which is relatively not getting attention despite its considerable contribution in adding value. Especially it predicts how the market structure of separator will change in the future amid political variables such as the U.S. Inflation Reduction Act (IRA) and Europe's Critical Raw Minerals Act (CRMA). In the case of separator, it was identified as a secondary battery component in the IRA, and shifting production to North America became a requirement, not an option. Since both IRA and CRMA require to match the ratio of local production of the material, local production by the separator makers can be seen as an unchangeable fact.
A scenario regarding the possibility of extinction of the separator market due to the emergence of all solid-state batteries is also presented. It is known that solid state batteries no longer need separator by using solid electrolyte instead of electrolyte. Solid batteries are expected to greatly reduce the risk of fire and other issues due to low heat generation.
We hope this report, which is presenting outlook for the separator market, can help readers in their work.