China lithium ion battery binders market is anticipated to grow at a CAGR of 15.6% during the forecast period (2021-2027). The growing expansion of lithium ion battery plants to meet demand for lithium ion batteries is a key factor driving the market growth. Battery binder is a key element of lithium ion battery; high production of batteries will result in high demand for battery binders, therefore, the increasing production capacity expansion activities across China is anticipated to drive the market growth. In April 2021, REPT Energy Co announced its plan to expand its annual production capacity for lithium batteries from 6 gigawatt currently to 200 gigawatt capacity by 2025 and the new plant in Foshan city will be part of that expansion.
Browse the full report description of "China Lithium Ion Battery Binder Market Size, Share & Trends Analysis Report by Binder (Cathode Binder, Anode Binder), by End-User Industry (Consumer Electronics, Automobile, Aerospace & Defense, Others) Forecast Period 2021-2027" at https://www.omrglobal.com/industry-reports/china-lithium-ion-battery-binder-market
The plant will be having an expected annual capacity of 30 gigawatt by 2024. Additionally, in December 2020, Chinese battery producer Contemporary Amparex Technology (CATL) announced to invest $5.97 billion to raise its output capacity for power and storage lithium-ion batteries. With this investment China's newly installed capacity of power batteries reached 5.9GWh by October, up by 44pc from a year earlier. Such huge investment in lithium ion battery production facility expansion is anticipated to drive the China lithium ion battery binders market.
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