Thin Film and Printed Battery Market

Market Snapshot

Thin Film and Printed Battery Market: By Type, Capacity, Voltage, Rechargeability, Application, and Region

Market Synopsis:

Global Thin Film and Printed Battery market is valued at USD 120.09 Million in 2021 and is projected to attain a value of USD 535.23 Million by 2028 at a CAGR of 23.8% during the forecast period, 2022–2028. Thin Film batteries are light weight, flexible, have longer shelf life and flexible battery packs can be mounted on any shape or size product. The demand for electronic devices has substantially increased over the years due to their low cost, comfort provided by them which includes conducting mobile communication, accessing internet etc., wide availability in all social class by affordable prices. Electronic items include mobiles phones, laptops computers, cameras, and calculators.

Increasing Focus on Miniaturization of Electronic Devices to Drive Growth of Thin Film and Printed Battery Market

As customer requirements are changing therefore demand for battery management is also increasing which includes - ensuring safety at time of use & disposal, prolonging lifetime of the cell/pack to reduce downtime costs, ensuring high-rate performance, providing backup power for critical loads, maximizing energy utilization and reducing size & weight.

The market is driven by the product demand and growth from consumer electronics applications such as portable device, sensor, RFID tags data terminal etc. Growing demand for thin film & printed batteries in wearable devices will create opportunities to expand the industry over forecast period. In addition, increasing demand of smartphones is expected to support the growth of battery industry because number of consumers are using smartphones and wearable devices such as watches and fitness tracker every day. The industries are also concentrating on development of advanced technologies which includes flexible thin-film technology and smart pouch or box technology for all-in-one protection to meet the requirements.

Market Segmentation:

The global Thin Film and Printed Battery market is segmented by type, capacity, voltage, rechargeability, application, and region. Wherein, the type segmented is sub-segmented into thin-film and printed. The rechargeability segment is further segmented into primary batteries and secondary batteries) and application segment is sub-divided into smart packaging and medical devices.

By Capcity, below 10 mAh Battery to Dominate Global Thin Film and Printed Battery Market

The demand for 10mAh capacity battery is increasing every day. In addition, the global market is witnessing its application in e-cigarette/e-cigaret which uses cartridges containing 10mAh lithium-ion polymer batteries. Other than this, there are various other applications like wireless mice, portable media players, motorized toys and calculator to name a few. Therefore 10 mAh battery cells are high in demand by end users as well as OEM manufacturers alike.

Below 1.5 V Batteries to Hold Major Share of Thin Film and Printed Battery Market

The market for below 1.5 V batteries has grown rapidly over the past 5 years with annual sales reaching almost 3.8 billion units in 2019 due to its wide applications in consumer electronic gadgets and other small home appliances. The trend is expected to continue over the next few years on account of continued R&D efforts by leading manufacturers worldwide who are striving to make these batteries even more compact, reliable and stable at low cost. The primary driving factor which will surge growth rate fueling this industry are the applications of battery as a power source for hearing aids, wireless keyboards and mouse, door bells and wireless security systems.

North America to Dominate Thin Film and Printed Battery Market

North America is the largest consumer of thin film batteries for many years, almost reaching 2/3 of the world's total demand on 2020. The growth of the market is mainly driven by sales of wearable electronics in this region. Due to their smaller size, thin film batteries are extremely useful in wearable devices such as smart watches and health monitoring devices which are preferred by consumers in the U.S. and Canada. In addition, higher adoption of medical electronic device in the region is another key factor driving the development of this market.

Asia Pacific is the second largest market for thin film batteries, accounting for nearly 1/4 of total global demand in 2020. The demand is mainly driven by expected growth in sales of wearable electronics and medical electronic devices such as hearing aids and respiratory aids in China and Japan throughout 2020. In addition, growing adoption of printed battery technology in consumer electronics such as wireless sensor networks, remote controls and smart cards will also boost the growth of this market.

Key Players

Some of the key players in the global Thin Film and Printed Battery market are Enfucell Oy Ltd. (Finland), Samsung (South Korea), Ultralife Corporation (US), LG Chem Ltd. (South Korea), and Blue Spark Technologies (US).

The Thin Film and Printed Battery is Segmented as Follows: