PPG announced that it has inaugurated a battery pack application center (BPAC) in Tianjin, China. The $30-million facility features a full range of capabilities to test the application of PPG coatings technologies, materials and systems for electric vehicle (EV) battery packs, allowing customers to accelerate the development of new and innovative electric vehicle technologies.
What does BPAC bring to the market?
The BPAC will include testing for PPG tech, including powder coatings, fire protection coatings, dielectric coatings, adhesives and sealants, surface pre-treatment, and e-coat technologies.
In addition, its modular design will allow for independent projects to be carried out concurrently in each of the application areas. This flexibility will enable development of material and process solutions across the range of current and potential customers.
What does the BPAC mean for PPG?
“The application center showcases PPG’s work in R&D and application technologies for EV batteries, while playing a significant role in developing our local talent in Tianjin. It highlights the focus on our work to develop sustainable, cutting-edge tech in China, and provide our customers with value-added solutions,” said Thomas Li, PPG VP, APAC, Automotive Coatings.
“The new application center is an important milestone in our effort to support our customers in China in the EV battery market,” said Vincent Robin, PPG Global VP, Automotive Coatings.
“The new facility will be an important way for customers to validate our customizable coatings solutions that help them reduce application cost, increase battery life, range and charging speed, and contribute to occupant safety,” Vincent Robin further commented.
What is the wider industry context of this product launch?
The electric vehicle (EV) battery market is booming in 2023. The global market is expected to grow from $74.64 billion in 2023 to $365.4 billion by 2031, at a CAGR of 21.9%. This growth is being driven by a number of factors, including the increasing popularity of EVs, the rising demand for longer range EVs, and the development of new battery technologies.
Lithium-ion batteries are the most common type of EV battery, accounting for over 65% of the market. However, there is a growing interest in other battery technologies, such as solid-state batteries and sodium-ion batteries. These technologies offer the potential for longer range, faster charging, and lower costs than lithium-ion batteries.
The EV battery market is highly competitive. The top five players in the market, CATL, BYD, LG Chem, Samsung SDI, and Panasonic, account for over 60% of the market share. However, there are a number of smaller players who are also developing innovative battery technologies.
The growth of the EV battery market is creating new opportunities for businesses across the value chain. Battery manufacturers are investing in new production capacity to meet the rising demand. Original equipment manufacturers (OEMs) are developing new EV models with longer range and faster charging capabilities. And battery recycling companies are developing new technologies to recover the valuable materials in used EV batteries.
The EV battery market is still in its early stages of development, but it is growing rapidly. The market is expected to continue to grow in the coming years, as the demand for EVs continues to increase.
Here are some additional trends that are shaping the EV battery market in 2023:
- The increasing demand for longer range EVs is driving the development of new battery technologies with higher energy densities.
- The rising cost of lithium is forcing battery manufacturers to look for alternative materials, such as sodium and magnesium.
- The growing popularity of fast charging is leading to the development of new battery technologies that can be charged more quickly.
- The increasing focus on sustainability is driving the development of battery recycling technologies.
The EV battery market is a dynamic and rapidly changing market. The trends mentioned above are just a few of the factors that are shaping the market in 2023. As the market continues to grow, it will be interesting to see how these trends evolve and what new opportunities they create.
Gerald Ainomugisha is a business news reporter and freelance B2B marketer with over 10 years of experience in writing high-converting copy and content for businesses of all kinds, especially SaaS providers in the niches of HR, IT, fintech, eCommerce and web3. Since joining Upwork in 2012 (back when it was still eLance), Gerald A. has delivered great results for hundreds of clients, maintaining a 98% Job Success rate as well as 5+ years of Top Rated Plus rating (and Premium Writers Talent Cloud membership). Book a meeting with Gerald A. today to get the powerful SEO content you need!