Russia Battery Binders Market Outlook

russia’s battery binder market has been witnessing robust growth in the past couple of years, attributed to the increasing demand of high quality and reliable products for use in a wide range of applications. the market has been driven primarily by the demand from automobile and consumer electronics industries, as well as government initiatives to promote e-mobility. growing automotive industry in russia is playing a vital role in driving the demand for energy storage systems such as battery binder products, due to growing adoption of ev’s and e-bikes. in addition, government initiatives such as the reduced charging rates (rcr) scheme and state fund for energy efficiency promotion (sfeep) have been instrumental in boosting the demand for electric vehicles and associated energy storage products in the country. furthermore, the rising utilization of battery binder products in consumer electronics such as portable music systems, video cameras, and cell phones has also been driving the demand for such products in russia. additionally, the increasing importance of safety features in consumer electronics is further boosting the demand for energy storage systems in the country, consequently propelling the growth of russia’s battery binder market over the coming years. moreover, key players operating in the market are focusing on introducing a range of offerings with unique features to retain their competitive edge in the market. for instance, in june 2018, russian battery manufacturer «kronberg energy» introduced the first ever industrial grade solar energy storage system, powered by their phareon-s lithium-ion medium-voltage modular batteries. this included five 500-250 mwh capacity modules, providing a total capacity of 2.5 mwh. the company claims that the product is capable of providing reliable energy delivery at optimum cost, and can be easily integrated into existing infrastructure. overall, russia’s battery binder market is expected to witness considerable growth over the next decade, backed by the rising demand from automotive and consumer electronics sectors, government initiatives, and innovative developments on the part of market players.