Global Flexible Thin Film and Printed Battery Market to Grow at a CAGR of 31% by 2030.

Introduction

The emergence of technologies such as wearable and flexible electronics has increased the demand for batteries that are compatible with these devices. Curved or flexible screens in televisions, smartphones, and smartwatches now require thin and flexible batteries. Several battery technology providers, who offer flexible, thin film, and printed batteries, have examined these requirements. Panasonic, Samsung, and Sony are well-established battery market leaders who have only lately joined the flexible thin film and printed battery business. The increasing participation of business titans in this sector shows the market's shifting competitive landscape.

Flexible batteries are batteries that feature the flexibility attribute. Flexibility is produced by producing the conducting additives on a flexible substrate using printing or chemical deposition. In flexible batteries, the current collectors take the form of ink or thin metal foil. Flexible batteries are separated into rechargeable and non-rechargeable categories based on the materials used in their construction.

Flexible thin film and printed batteries have gained appeal today due to the increasing need to miniaturize items and the rise in IoT applications. The technological advancements in wearable technology, medical & cosmetics, packaging, and consumer electronics are expected to drive the growth of the flexible thin film & printed battery market to a lower extent than other application verticals.

Market Dynamics

Rise in IoT to Drive the Global Flexible Thin Film and Printed Battery Market

Internet of Things has had a substantial impact on the current technical, social, and economic standing of everything and the application dynamics. The ambitious goal of connecting 100 billion devices by 2025 creates a sustainable need for various components necessary to support the expansion. IoT components include using sensors, installing technologies, and a compatible power supply for new applications.

The astronomical increase in demand for sensors to operate IoT-connected devices and the energy source to power them facilitates the development of flexible, thin, and printable batteries. Additionally, there is a rising need for sensor-operated power devices. The data presented below illustrate the increasing utility of sensors across various applications, which facilitates the flexible use of batteries.

Growth in Printed Electronics to Provide Opportunities for the Global Flexible Thin Film and Printed Battery Market

The printing process can be used separately to manufacture printed batteries, but their full potential can be realized by merging them with other printed electronics. This is one of the primary reasons for the widespread use of printed flexible batteries in applications such as RFID. In addition, the applications linked with flexible electronics are expanding rapidly and are anticipated to accelerate in the future. The graph below illustrates the potential growth of flexible electronics across various applications.

Regional Insights

By region, the global flexible thin film and printed battery market is segmented into North America, Europe, Asia-Pacific, and LAMEA Asia-Pacific was the highest contributor to the market and is estimated to grow at a CAGR of 32.9% during the forecast period. The Asia-Pacific area is home to several of the world's largest and fastest-growing economies. Asia-Pacific holds a strong position in this market, as it is home to some of the largest semiconductor and electronics companies in the world, including Samsung Electronics (South Korea), LG Electronics (South Korea), Sony Corporation (Japan), and Taiwan Semiconductor Manufacturing Company (Taiwan), among others. Due to this, it is anticipated that innovation opportunities and the implementation of linked technologies will be pursued more rapidly in the region. In addition, India's flexible battery market is explorable due to the country's extensive consumer base and intense emphasis on manufacturing growth. This progress will benefit the country and contribute to the expansion of the flexible battery market in Asia-Pacific as a whole.

North America is the second largest region. It is estimated to reach an expected value of USD 6390 million by 2030, growing at a CAGR of 30.5%. The North American companies that manufacture flexible batteries are continually engaged in the development of smarter solutions to accommodate emerging applications. BrightVolt Inc. (United States), STMicroelectronics N.V. (Switzerland), and Paper Battery Co. Inc. are among the leading businesses in the North American market (U.S.). In North America, potential growth in portable electronics and wearables, flexible thin film, and printed batteries are gathering speed. Foreign market leaders in flexible batteries export to U.S. wearables makers, particularly medical devices.

Europe is the third largest region. The market for flexible batteries is rising in Europe due to the development of microelectronics, which pushes the miniaturization of intelligent and intelligent products. The need for flexible batteries in Europe is predicted to grow fast due to initiatives to promote technological advancement in consumer electronics and telecommunications, as well as the Internet of Things. In addition, technological innovation is anticipated to be a focus now that the region's economy is on the mend. In 2018, ENrG Inc. and ITN Energy Systems developed a revolutionary solid-state lithium rechargeable battery (SSLB) for flexible electronics, smart wearables, and healthcare devices. In response to the rise of wearable technology in Europe, researchers at Fraunhofer IZM developed a smart bracelet with flexible batteries. It is projected that flexible batteries will be deployed to meet the demands of emerging IoT and electronics applications.

Key Highlights

• The global flexible thin film and printed battery market was valued at USD 2088 million in 2021 and is estimated to reach an expected value of USD 23725 million by 2030, registering a CAGR of 31% during the forecast period (2022 – 2030).
• Based on chargeability, the global flexible thin film and printed battery market is fragmented into rechargeable and non-rechargeable. The non-rechargeable segment was the highest contributor to the market and is estimated to grow at a CAGR of 30% during the forecast period.
• Based on application, the global flexible thin film and printed battery market is segregated into consumer electronics, energy harvesting, pharmaceutical & medical devices, packaging, smart cards, wearable technology, and others. Consumer electronics dominated the global flexible thin film and printed battery market and is estimated to grow at a CAGR of 34.9% during the forecast period.

Competitive Players

1. Blue Spark Technologies
2. Brightvolt Inc.
3. Cymbet Corporation
4. Excellatron Solid State Inc.
5. Imprint Energy Inc.
6. Jiangsu Enfucell Flexible Electronics Co. Ltd.
7. Panasonic Corporation
8. Prologium
9. Samsung SDI

Recent Developments

• June 2022 - Ten incredibly innovative companies have joined Medidata's ground-breaking Sensor Cloud Network, according to the Dassault Systèmes firm. The first cross-sector partnership comprises AliveCor, Aural Analytics, Biobeat, Blue Spark Technologies, Glooko, Indie Health, the University of Arizona, Carnegie Mellon University, the University of Rochester, and the University of Vermont. Its goals include resolving issues with sensor integration, standardizing sensor data, and creating new digital biomarkers and algorithms. These will contribute to developing new digital endpoints that might lead to developing more potent therapies and improved patient care.
• April 2022 - Leading provider of wearable remote patient monitoring solutions, Blue Spark Technologies, Inc., announced today that it had raised $40 million in an intellectual property-based debt financing round to support its expansion. GT Investment Partners ("Ghost Tree Partners") and Aon plc were the lead investors (NYSE: AON). The money is utilised to expand the business's marketing and sales operations and improve Blue Spark's wearable remote patient monitoring products.

Segmentation

1. By Chargeability
   1. Rechargeable
   2. Non-rechargeable
2. By Application
   1. Consumer Electronics
   2. Energy Harvesting
   3. Pharmaceutical & Medical Devices
   4. Packaging
   5. Smart Cards
   6. Wearable Technology
   7. Others