EV BATTERY FIRE PROTECTION ENCAPSULANTS MARKET

INTRODUCTION

The porous membrane separating the battery's cathode and anode can melt in the heat produced by a fire, the thermal runaway of a nearby cell, or shorting out the battery, resulting in this cell entering thermal runaway.

The cell releases flammable gas as a result of the heat, which has the potential to catch fire. Due to their significantly higher energy density as compared to weight, lithium-ion and lithium polymer batteries are typically seen in modern electric vehicles.

Lithium, manganese, cobalt, graphite, steel, and nickel are the main chemical components needed in lithium-ion batteries.

EV BATTERY FIRE PROTECTION ENCAPSULANTS MARKET SIZE AND FORECAST

The Global EV battery fire protection encapsulants market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

EV BATTERY FIRE PROTECTION ENCAPSULANTS MARKET NEW PRODUCT LAUNCH

Henkel releases fresh fire safety products for EV batteries that are safer. OEMs and EV battery manufacturers are working to create more effective methods for producing batteries at scale as the adoption and innovation of EVs quicken. In the meanwhile, fire safety is still essential to guarantee that car batteries offer the highest level of protection in the event of accidents and fires.

This is particularly crucial as regulatory requirements tighten up. Therefore, EV battery safety measures that slow the development of fire are more important than ever.undertake this task Loctite EA 9400 and Loctite FPC 5060, two new protective coating products from Henkel, a significant partner in the automotive sector, are intended to protect battery housings from heat and fire in the event of a thermal runaway event.

The coatings, when applied to battery packs, aid in preventing and postponing the spread of flames to safeguard passengers as they flee the vehicle. In the meantime, their effective and economical application techniques guarantee that manufacturers may keep optimising battery manufacturing without sacrificing safety.

For both OEMs and battery producers, battery safety is a subject that is becoming more and more crucial. Any lithium-ion battery has the potential for thermal runaway events, but the trick is to keep such risks and effects to a minimum. By using efficient and doable solutions that can halt the spread of fire, Henkel is working to lessen the effects of such occurrences. This is necessary to give passengers enough time to get out of the car.

ELECTRIC VEHICLE INDUSTRY OUTLOOK

• 70.4% of the market were BEVs and this trend is expected to continue till 2030 across the globe.
• Tesla, one of the global leaders in EVs, has projected lower growth in 2024 compared to 2023 due to factory readjustments and production of CyberTruck. This will impact the EV market in 2 ways in 2024 – It'll allow OEMs in China and Europe to target customers that would have preferred a Tesla, and cause lower sales in USA as Tesla does not have a prominent competitor at the moment in the country.
• Other OEMs also saw an increase in EV sales such as Volkswagen, Stellantis, GM etc.
• Increase in the scale of battery manufacturing will lead to growth for the EV industry along with the experience and improved understanding of battery safety and management. This has resulted in improved range, safety of EVs and trust from the customer, which will result in better sales till 2030 and beyond. 
• Another aspect of the industry which is gathering pace is battery recycling, which has multiple startups, OEMs, material suppliers and battery suppliers actively involved which will be the next development focus area.

AUTOMOTIVE INDUSTRY OUTLOOK

• The automotive industry expected to grow at 5% in 2024 compared to 2023.
• Growth will come in from Asia ex China region and ROW region compared to USA, Europe and China
• The market for automotive segment is expected to a technological shift with the major focus on automated driving and electrification.
• Solutions for automated driving are currently being transversed as ADAS solutions to enable multiple aspects including revenue generation, data collection and understanding driver behaviour.
• China and Europe will lead the industry for electrification with BEVs leading the pack.
• Electrification is the next trend that is capturing the global automotive market with 14.1 million plugged in vehicles sold in 2023.

EV BATTERY FIRE PROTECTION ENCAPSULANTS MARKET COMPANY PROFILE

• Henkel
• Dow
• IDTechEx
• Graco INC
• Huntsman Corporation

EV BATTERY FIRE PROTECTION ENCAPSULANTS MARKETREPORT WILL ANSWER FOLLOWING QUESTIONS

1. How many EV battery fire protection encapsulants are manufactured per annum globally? Who are the sub-component suppliers in different regions?
2. Cost breakup of a Global EV battery fire protection encapsulants and key vendor selection criteria
3. Where are the EV battery fire protection encapsulants manufactured? What is the average margin per unit?
4. Market share of Global EV battery fire protection encapsulants market manufacturers and their upcoming products
5. Cost advantage for OEMs who manufacture Global EV battery fire protection encapsulants in-house
6. key predictions for next 5 years in Global EV battery fire protection encapsulants market
7. Average B-2-B EV battery fire protection encapsulants market price in all segments
8. Latest trends in EV battery fire protection encapsulants market, by every market segment
9. The market size (both volume and value) of the EV battery fire protection encapsulants market in 2023-2030 and every year in between?
10. Production breakup of EV battery fire protection encapsulants market, by suppliers and their OEM relationship