Battery Binders

Battery Binders Market Outlook

The global battery binders market is projected to grow from USD 2.7 billion in 2025 to USD 4.6 billion by 2035, achieving a CAGR of approximately 5.5% during the forecast period. The growth of this market is primarily driven by the increasing demand for efficient and long-lasting battery technologies in various applications, including electric vehicles (EVs), consumer electronics, and energy storage systems. Additionally, the rising focus on renewable energy sources and sustainable technologies further enhances the need for high-performance battery binders that can improve the overall efficiency and life cycle of batteries. Furthermore, advancements in battery technology and the growing investment in R&D for developing innovative materials are expected to create significant opportunities for market growth in the coming years. The ongoing transition towards electrification in various sectors, particularly the automotive industry, is anticipated to propel the demand for battery binders significantly.

Growth Factor of the Market

The battery binders market is experiencing robust growth due to several key factors. First, the rapid adoption of electric vehicles worldwide is a major driver, as these vehicles require advanced battery technologies with high-performance binders to ensure safety and longevity. Moreover, the increasing penetration of renewable energy sources, such as solar and wind power, necessitates efficient energy storage solutions that are reliant on high-quality battery binders. Additionally, the surge in consumer electronics, particularly smartphones, laptops, and wearable devices, has amplified the need for lithium-ion batteries, further boosting the demand for specialized binders. The industrial sector is also contributing to the market growth, with the need for reliable power sources in manufacturing processes and equipment. Lastly, the ongoing technological advancements in battery materials and chemistry are fostering innovation in the development of battery binders, thereby improving their performance characteristics and expanding their applications across diverse industries.

Key Highlights of the Market

• The market is projected to grow at a CAGR of approximately 5.5% during the forecast period of 2025-2035.
• Increasing demand for battery technologies in electric vehicles is a primary growth driver.
• Expanding renewable energy sector is significantly influencing the energy storage requirements.
• Rising penetration of consumer electronics is fueling the demand for lithium-ion battery binders.
• Technological advancements in the development of battery materials are expected to drive innovation in the market.

By Product Type

Lead-Acid Battery Binders:

Lead-acid battery binders are a crucial segment within the battery binders market, primarily used in traditional automotive batteries and backup power systems. These binders typically enhance the mechanical properties of the battery plates, improving their performance and longevity. The ongoing use of lead-acid batteries in vehicles, especially in regions with well-established automotive markets, continues to support the demand for lead-acid battery binders. Furthermore, the cost-effectiveness and recyclability of lead-acid batteries further promote the use of these binders, making them an attractive option for manufacturers looking for reliable and sustainable solutions.

Lithium-Ion Battery Binders:

Lithium-ion battery binders represent the largest segment of the battery binders market and are predominantly utilized in modern electric vehicles, consumer electronics, and portable devices. These binders, such as Polyvinylidene Fluoride (PVDF), are critical for maintaining the structural integrity of electrode materials and enhancing ionic conductivity. The rapid growth of the electric vehicle market and the rising demand for high-capacity batteries in consumer electronics are significant factors driving the adoption of lithium-ion battery binders. Additionally, innovations in binder formulations, aimed at improving performance and reducing environmental impact, are expected to further enhance market growth.

Nickel-Cadmium Battery Binders:

Nickel-cadmium (NiCd) battery binders are less common compared to lithium-ion and lead-acid options but still hold relevance in specific applications. These binders are essential for ensuring the stability and efficiency of NiCd batteries, which are often used in power tools, emergency lighting, and aviation applications. Despite facing competition from newer technologies, the unique characteristics of NiCd batteries, such as their ability to deliver high discharge rates and long cycle life, maintain a niche demand for nickel-cadmium battery binders. The regulation surrounding cadmium usage, however, could pose challenges for this segment in the long term.

Nickel-Metal Hydride Battery Binders:

Nickel-metal hydride (NiMH) battery binders cater to a specific segment of the market, particularly in hybrid vehicles and consumer electronics. These binders contribute to the overall performance of NiMH batteries, which are known for their higher energy density and eco-friendliness compared to traditional NiCd batteries. The increasing popularity of hybrid electric vehicles (HEVs) is fostering demand for nickel-metal hydride battery binders, as manufacturers seek reliable and efficient energy storage solutions. Furthermore, the growing emphasis on sustainability and reduced environmental impact is likely to encourage further adoption of NiMH batteries, thereby boosting the demand for their corresponding binders.

Alkaline Battery Binders:

Alkaline battery binders are employed primarily in disposable battery applications, where their role is to ensure electrolyte retention and enhance overall battery efficiency. The alkaline battery segment is dominated by consumer products such as remote controls, toys, and flashlights. As demand for alkaline batteries continues to persist in various consumer applications, the need for effective binders that can optimize performance and shelf life remains crucial. The simplicity and widespread availability of alkaline batteries ensure a steady market for alkaline battery binders, even as rechargeable technologies gain traction in the consumer electronics space.

By Application

Automotive Batteries:

The automotive battery application segment is one of the key contributors to the battery binders market. As the automotive industry increasingly shifts towards electric vehicles (EVs) and hybrid vehicles, the demand for advanced battery technologies, including lithium-ion batteries, is surging. Battery binders play a vital role in enhancing the performance and safety of these batteries by providing mechanical support and stability. With the global push for cleaner transportation solutions and stringent emissions regulations, automotive manufacturers are focusing on integrating high-performance battery systems, which is expected to escalate the demand for battery binders in this application.

Industrial Batteries:

Industrial batteries are utilized in various applications, ranging from backup power systems to material handling equipment. The demand for battery binders in this sector is driven by the need for reliable and efficient energy storage solutions. High-performance binders contribute to the longevity and efficiency of industrial batteries, ensuring they can withstand rigorous operating conditions. As industries continue to automate and adopt energy-efficient technologies, the reliance on industrial battery systems will only increase, thereby driving the demand for specialized binders tailored to meet the specific requirements of this sector.

Consumer Electronics:

Consumer electronics represent one of the most dynamic applications for battery binders, driven by the constant need for portable power solutions in devices such as smartphones, laptops, and wearable gadgets. The rapid advancement in technology and the demand for longer-lasting batteries have led to the growing adoption of high-capacity lithium-ion batteries, which rely on effective binders to maintain performance. Manufacturers are continuously innovating to develop lighter, more efficient batteries, which in turn increases the need for specialized binders that can enhance battery performance while meeting the compact size requirements of modern consumer electronics.

Energy Storage Systems:

Energy storage systems, particularly those utilizing renewable energy sources like solar and wind, are increasingly relying on advanced battery technologies that incorporate high-performance binders. These systems require batteries that can efficiently store and release energy, making the role of battery binders critical for optimizing performance and minimizing degradation over time. As governments and organizations worldwide push for cleaner energy solutions and sustainable practices, the demand for battery binders in energy storage applications is expected to grow significantly, providing ample opportunities for manufacturers within the market.

Others:

The "Others" category encompasses a range of applications where battery binders are utilized, including telecommunications, medical devices, and aerospace applications. These sectors often require specialized battery technologies that demand the highest standards of performance and reliability. As sectors like telecommunications evolve and expand their infrastructure, the demand for robust and efficient battery solutions will increase. This subsequently boosts the need for effective binders that can ensure the longevity and reliability of batteries used in these critical applications, contributing to the overall growth of the market.

By Distribution Channel

Online Stores:

The rise of e-commerce has transformed the distribution of battery binders, with online stores becoming a significant channel for manufacturers and consumers alike. Through online platforms, customers gain access to a wider range of products and brands, allowing them to compare options and make informed purchasing decisions. Furthermore, the convenience and accessibility of online shopping have encouraged more customers to opt for this channel, especially in regions where specialty stores may be limited. As manufacturers increasingly recognize the importance of online presence, investments in digital marketing and e-commerce strategies are expected to bolster sales through this distribution channel.

Specialty Stores:

Specialty stores play an essential role in the distribution of battery binders, particularly for niche applications and high-performance products. These stores often provide expert advice and a curated selection of products tailored to specific customer needs. The personal interaction and expertise available in specialty stores can enhance customer confidence, leading to increased sales in areas where consumers seek high-quality and reliable battery solutions. As the battery technology landscape continues to evolve, specialty stores will likely remain vital for customers looking for specific product recommendations and technical support.

Direct Sales:

Direct sales channels, including manufacturer-to-consumer sales, are also increasingly important within the battery binders market. This approach allows manufacturers to establish direct relationships with end-users, ensuring they receive tailored products and support. Direct sales can enhance customer loyalty as it enables manufacturers to showcase their expertise and commitment to quality. As manufacturers recognize the value of personalized customer service and product education, this distribution channel is expected to gain traction, particularly for specialized binder products in the industrial and automotive sectors.

Others:

The "Others" category encompasses various distribution channels not specified in the major segments, including wholesaler and distributor networks. These channels can facilitate the efficient movement of battery binders between manufacturers and end-users, ensuring that products are readily available in different markets. Wholesalers and distributors often leverage their established relationships to provide a diverse array of products to retailers and other businesses, thereby amplifying market reach. As the demand for battery binders continues to grow across different sectors, these alternative distribution channels will remain vital for ensuring product availability and meeting consumer needs.

By Ingredient Type

Polyvinylidene Fluoride (PVDF):

Polyvinylidene fluoride (PVDF) is the most widely used ingredient in battery binders, particularly for lithium-ion batteries. Its excellent chemical resistance, thermal stability, and mechanical strength make it an ideal choice for enhancing the performance of battery electrodes. PVDF-based binders ensure optimal adhesion between active materials and current collectors, which is crucial for improving battery life and efficiency. The continuous advancements in PVDF formulations are expected to drive innovation in the battery binders market, as manufacturers seek to enhance the performance characteristics of their products.

Polyethylene:

Polyethylene is another significant ingredient type used in battery binders, particularly for its versatility and cost-effectiveness. It is often employed in conjunction with other materials to create composite binders that offer balanced performance characteristics. Polyethylene-based binders can provide good mechanical properties while ensuring high levels of processability during manufacturing. As the industry seeks to reduce costs without compromising performance, the demand for polyethylene in binder formulations is expected to grow, particularly in lower-cost applications such as consumer electronics.

Polypropylene:

Polypropylene is emerging as an alternative ingredient type in battery binders due to its advantageous properties, such as lightweight and high tensile strength. This material is often utilized in battery applications where weight savings are critical, such as in automotive and aerospace sectors. The growing focus on lightweight materials and energy-efficient designs is likely to enhance the appeal of polypropylene-based binders in the market. Furthermore, ongoing research into polypropylene formulations could lead to improved binder performance, which will further bolster its adoption in various applications.

Others:

The "Others" category includes various proprietary and novel binder formulations that do not fall under traditional classes of materials. These innovative binders may incorporate blends of different polymers or additives designed to enhance specific characteristics, such as adhesion, conductivity, or thermal stability. As manufacturers strive for customization and differentiation in their product offerings, the demand for unique binder formulations is expected to rise. Continuous research and development efforts in the battery binders market will likely lead to the introduction of new ingredient types that cater to specific industry needs and performance requirements.

By Polyvinylidene Fluoride

Standard PVDF Binders:

Standard PVDF binders are widely used in lithium-ion battery applications due to their excellent mechanical properties and chemical resistance. These binders facilitate strong adhesion between the active materials and current collectors, ensuring efficient ion and electron transport within the battery. Standard PVDF binders are critical for enhancing battery performance and longevity, making them a preferred choice among manufacturers in the automotive and consumer electronics industries. The demand for standard PVDF binders is expected to continue growing, driven by the increasing adoption of lithium-ion batteries in various applications.

Modified PVDF Binders:

Modified PVDF binders represent an innovative segment within the battery binders market, incorporating additives or structural changes to optimize performance for specific applications. These modified formulations can improve adhesion, reduce viscosity, and enhance conductivity, making them suitable for high-performance battery systems. Manufacturers are increasingly exploring modified PVDF binders to meet the stringent requirements of advanced battery technologies, particularly in electric vehicles and energy storage systems. As the industry evolves, the demand for modified PVDF binders is likely to rise, driven by the need for enhanced performance and efficiency in battery applications.

By Region

The battery binders market is geographically diverse, with significant activity concentrated in various regions worldwide. North America is projected to be one of the leading regions, driven by the increasing focus on electric vehicles and advancements in battery technology. The region is expected to account for approximately 35% of the global market share by 2035, with a CAGR of around 6% during the forecast period. The presence of major automotive manufacturers and a robust consumer electronics market contribute to this growth, as manufacturers seek innovative battery solutions that incorporate high-performance binders.

In contrast, the Asia-Pacific region is anticipated to witness the fastest growth in the battery binders market, with a CAGR of approximately 7% from 2025 to 2035. This growth can be attributed to the rapid expansion of the electric vehicle market in countries such as China and Japan, coupled with the increasing demand for energy storage solutions to support renewable energy initiatives. The presence of numerous battery manufacturers and suppliers in this region further strengthens its position in the global market. However, the overall share of the Asia-Pacific region is expected to remain aligned with global market metrics, ensuring balanced growth across regions.

Opportunities

The battery binders market is poised for significant opportunities in the coming years, primarily driven by the shift towards electric vehicles and renewable energy storage solutions. As governments and industries worldwide push for sustainable practices, the demand for advanced battery technologies that utilize high-quality binders will continue to rise. This presents manufacturers with the chance to innovate and develop new binder formulations that enhance battery performance, efficiency, and environmental sustainability. Collaborations between manufacturers and research institutions for R&D initiatives aimed at improving binder materials could lead to breakthrough innovations, offering companies the opportunity to capture larger market shares by providing superior products tailored to specific applications.

Moreover, the increasing emphasis on energy storage solutions as part of the transition to renewable energy sources presents another significant opportunity for the battery binders market. Energy storage systems require efficient and reliable batteries that can effectively store and release energy, highlighting the importance of advanced binders in these applications. Companies that can develop binders specifically designed for energy storage solutions will likely gain a competitive edge as the market expands. Furthermore, emerging markets in regions such as Latin America and Africa present untapped potential for battery binders, as infrastructure development and increased electrification drive demand for energy storage solutions and battery technologies.

Threats

While the battery binders market is on a growth trajectory, several threats could potentially impede progress. One major concern is the rapid technological advancements in battery technology, which could lead to the emergence of alternative materials that replace traditional binders. If manufacturers do not keep pace with these innovations or fail to adapt, they may find themselves at a competitive disadvantage. Additionally, increased environmental regulations surrounding the use of certain materials, such as cadmium and other hazardous substances, could pose challenges for manufacturers of specific binder formulations. The potential for fluctuating raw material costs due to supply chain disruptions or geopolitical factors can further impact production costs and profitability, forcing manufacturers to navigate a complex landscape.

Furthermore, the growing emphasis on sustainability and eco-friendly practices could pose challenges for traditional binder formulations that do not meet the evolving standards. Companies that fail to adopt greener materials or sustainable practices may face backlash from consumers and regulatory bodies, adversely affecting their reputation and market share. The increasing competition from new entrants and established players also represents a threat, as the market becomes more saturated. Companies must be vigilant in differentiating their products and maintaining innovation to stay relevant amidst growing competition and changing market demands.

Competitor Outlook

• BASF SE
• 3M Company
• Dow Inc.
• Solvay S.A.
• FMC Corporation
• Asahi Kasei Corporation
• Samsung SDI Co., Ltd.
• LG Chem Ltd.
• Wacker Chemie AG
• Huntsman Corporation
• Cabot Corporation
• Evonik Industries AG
• Toray Industries, Inc.
• Showa Denko K.K.
• Umicore S.A.

The competitive landscape of the battery binders market is characterized by the presence of several key players and ongoing innovations aimed at enhancing product offerings. Companies are increasingly focusing on research and development to create advanced binder formulations that can meet the growing demands of the electric vehicle and energy storage sectors. Major players in the market are investing heavily in developing sustainable and high-performance materials that can differentiate their products and capture market share. Additionally, strategic partnerships and collaborations among manufacturers, research institutions, and technology providers are becoming more common as companies seek to leverage expertise and resources to drive innovation and improve product performance.

Among the notable companies in the battery binders market, BASF SE is recognized for its extensive portfolio of high-performance materials, including innovative binder formulations specifically designed for lithium-ion batteries. Their commitment to sustainability and reducing environmental impact positions them as a leader in the industry. Similarly, companies like LG Chem and Samsung SDI have established themselves as major players in battery technology, with ongoing investments in R&D to develop cutting-edge binder solutions that enhance battery efficiency and longevity. These companies are also focused on expanding their production capacities to meet the growing demand for electric vehicle batteries worldwide.

3M Company stands out for its diverse range of innovative materials, including specialized battery binders that cater to various applications. Their commitment to technological advancements and sustainability has allowed them to maintain a competitive edge in the market. Another key player, Dow Inc., is recognized for its expertise in polymer chemistry, leading to the development of high-performance binder materials that enhance battery performance. Their focus on research and innovation is driving advancements in the battery binders market, ensuring they remain a formidable competitor. As the industry continues to evolve, these leading companies are well-positioned to leverage their expertise and market presence to capitalize on the growing opportunities in the battery binders market.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 BASF SE
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Dow Inc.
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 3M Company
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Solvay S.A.
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 LG Chem Ltd.
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Umicore S.A.
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 FMC Corporation
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Showa Denko K.K.
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Wacker Chemie AG
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Cabot Corporation
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Evonik Industries AG
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Huntsman Corporation
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Samsung SDI Co., Ltd.
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Toray Industries, Inc.
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Asahi Kasei Corporation
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Battery Binders Market, By Application
    • 6.1.1 Automotive Batteries
    • 6.1.2 Industrial Batteries
    • 6.1.3 Consumer Electronics
    • 6.1.4 Energy Storage Systems
    • 6.1.5 Others
  • 6.2 Battery Binders Market, By Product Type
    • 6.2.1 Lead-Acid Battery Binders
    • 6.2.2 Lithium-Ion Battery Binders
    • 6.2.3 Nickel-Cadmium Battery Binders
    • 6.2.4 Nickel-Metal Hydride Battery Binders
    • 6.2.5 Alkaline Battery Binders
  • 6.3 Battery Binders Market, By Ingredient Type
    • 6.3.1 Polyvinylidene Fluoride (PVDF)
    • 6.3.2 Polyethylene
    • 6.3.3 Polypropylene
    • 6.3.4 Others
  • 6.4 Battery Binders Market, By Distribution Channel
    • 6.4.1 Online Stores
    • 6.4.2 Specialty Stores
    • 6.4.3 Direct Sales
    • 6.4.4 Others

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Battery Binders Market by Region
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Battery Binders market is categorized based on

By Product Type

• Lead-Acid Battery Binders
• Lithium-Ion Battery Binders
• Nickel-Cadmium Battery Binders
• Nickel-Metal Hydride Battery Binders
• Alkaline Battery Binders

By Application

• Automotive Batteries
• Industrial Batteries
• Consumer Electronics
• Energy Storage Systems
• Others

By Distribution Channel

• Online Stores
• Specialty Stores
• Direct Sales
• Others

By Ingredient Type

• Polyvinylidene Fluoride (PVDF)
• Polyethylene
• Polypropylene
• Others

By Region

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• BASF SE
• 3M Company
• Dow Inc.
• Solvay S.A.
• FMC Corporation
• Asahi Kasei Corporation
• Samsung SDI Co., Ltd.
• LG Chem Ltd.
• Wacker Chemie AG
• Huntsman Corporation
• Cabot Corporation
• Evonik Industries AG
• Toray Industries, Inc.
• Showa Denko K.K.
• Umicore S.A.