This paper investigates lithium-ion electrode laminates as polymer composites to explain their performance variation due to changes in formulation. There are three essential components in a positive electrode laminate: active material (AM) particles, acetylene black (AB) particles, and the polymer binder. The high filler content and discrete particle sizes make the electrode laminate a very unique polymer composite. This work introduces a physical model in which AB and AM particles compete for polymer binder, which forms fixed layers of polymer on their surfaces. This competition leads to the observed variations in electrode morphology and performance for different electrode formulations. The electronic conductivities of the cathode laminates were measured and compared to an effective conductivity calculation based on the physical model to probe the interaction among the three components to reveal the critical factors controlling electrode conductivity and electrochemical performance. The data and effective conductivity calculation results agree very well with each other. This developed physical model provides a theoretical guideline for optimization of electrode composition for most polymer binder-based Li-ion battery electrodes. Proper electrode design is critical to meeting both the energy and power performance requirements for any battery application. [1][2][3][4] Polymer binders and conductive additives used in Li-ion batteries, although not electrochemically active, are essential components in the electrodes, along with the active material (AM) that stores lithium ions. Conductive additives such as acetylene black (AB), are used to provide the electronic conductivity from the current collector to the composite, and to provide surface conductivity to the micronsized spherical AM particles. AB is an essential component for all cathodes due to its low cost and unique morphology. 5,6 Primary AB particles fuse to form a branched structure, which allows for a fully percolated filler structure at much lower AB loading than would occur without the branching. 7,8 This electrically conductive medium is needed to provide both long-range conductivity and short-range electron transport to the AM surface. A polymer binder such as polyvinylidine difluoride (PVDF) adheres the AB and AM particles together to form a continuous and robust electric conduction path to the current collector.In designing an electrode, the AM content is preferentially high to maximize the energy density, but the inactive materials AB and PVDF are critical for electron transport and mechanical integrity, respectively. A typical cathode contains 90% AM, 4% AB, and 6% PVDF. 9 The AB content needs to be as low as the electrode design allows and still fulfill its function of providing electrical connection from the laminate to the current collector and amongst the AM particles throughout the laminate. The polymer content also needs to be as low as possible and still meet its design needs of binding the laminate to the current collector and holding all...