Flexible Thin Film and Printed Battery Market Overview :
Flexible Thin Film and Printed Battery Market is expected to garner $1.9 billion by 2022, registering a CAGR of 51.4% during the forecast period 2016 - 2022.
Application of flexible batteries have increased in recent times owing to the growth in trend of portable devices and flexible electronics. These batteries possess a new form factor and ultra thin fabrication that enables them achieve flexibility. The compatibility issue with conventional batteries to operate with flexible devices, namely, wearable sensors, implantable medical devices, artificial skins, and others, gives rise to the need for flexible batteries. However, all these requirements cannot be practically realized unless an appropriate flexible power source is developed. To achieve this, flexible batteries are being developed with the most prevalent chemical, that is, lithium ion. Large scale production as well as utilization of such batteries is not in the picture now, due to its limited energy density that restricts its usage in emerging applications such as electrical vehicles. Consistent R&D in the field of battery technology by companies, such as Enfucell Oy, Blue Spark Technologies, and Imprint Energy, a and growth in involvement of existing market leaders, such as LG and Panasonic Corporation, pave way for implementation of flexible batteries in the future.
Growth in application of flexible batteries is attributed to rise in IoT, wearable technology, and the drift toward miniaturization of products, along with increase in demand for smart electronics products. However, low energy density of these batteries (especially in the case of ultra thin lithium ion batteries) restricts the usage applications of these batteries in verticals it can potentially cater to. Development in technology and the arising need for the flexibility enable the flexible battery market to explore the opportunities.
The market is segmented on the basis of chargeability, application, and geography. The sub divisions under chargeability segment are rechargeable and non rechargeable flexible batteries. By application, the market is categorized into consumer electronics, energy harvesting, pharmaceuticals & medical devices, packaging, smart cards, and wearable technology. Geographical analysis is provided for North America (U.S., Canada, and Mexico), Europe (France, Germany, UK, and rest of Europe), Asia Pacific (China, Japan, South Korea, India, and rest of Asia Pacific), and LAMEA Africa, Latin America, and Middle East).
IoT Drives the Need for Flexible Devices
The landscape of flexible battery market is set to navigate with the growing presence of IoT. As one of the fastest evolving application segment, IoT aids the growth of flexible and portable devices, which in turn boosts growth of the flexible battery market. BrightVolt and Enfucell Oy focus on the development of batteries for IoT wearables, medical devices, smart labels, and smart cards.
Non Rechargeable Flexible Batteries Acquire the Major Share
Flexible, non rechargeable batteries are widely used across various applications. Devices that require nominal voltage ranging between 0.5 and 2 V utilize non rechargeable or disposable batteries. Some of the applications are in personal care, temperature sensing for sensitive drugs, and in sports equipment. Non rechargeable or disposable batteries have acquired major market share as they cater to the needs of industries that require low energy density.
Circumnavigating Landscape of Flexible Battery Application Market
In terms of application of flexible batteries, the landscape of the market looks rather complex. This is due to the changing target market for these batteries in the coming years. When the flexible battery market is compared with the overall battery market, in terms of revenue generation, it holds the lowest share. This is due to the paucity of implementable technology of flexible batteries in application verticals such as consumer electronics, pharmaceuticals & medical devices, along with wearable devices. However, if the anticipation of some of the consumer electronics companies, such as Samsung and Lenovo, can be apprehended for practical application of flexible batteries in flexible phones and other electronics devices, the market for flexible batteries in consumer electronics will change drastically. Based on such developments, the market for flexible batteries in consumer electronic application is anticipated to grow from 20% in 2014 to 26% in 2022.
Asia Pacific Maintains Its Dominance in the Flexible Thin Film and Printed Battery Market
From the estimated year to the end of forecast period in 2022, Asia Pacific holds its dominance in revenue generation. The strong presence of manufacturing facilities of batteries in countries of Asia Pacific such as China, Japan, and South Korea account for its major revenue generation. In addition, the rate of adoption of inexpensive goods is high in this region, making it the major market for flexible batteries.
Key strategies adopted by market players have resulted in change in target market for flexible batteries, changing the competitive landscape. The market players intensively expand their technological base along with patenting the technology, either for the composition or manufacturing. The figure provided below explains the involvement of various countries to obtain patent grants in 2011 for nanomaterial based lithium ion batteries.
The market players profiled in the report are Blue Spark Technologies, Enfucell Oy, Imprint Energy, Panasonic Corporation, and Samsung Electronics Limited.
- The report includes an extensive analysis of the factors that drive as well as restrain the global flexible battery market, along with the opportunities.
- Market projections from 2014 to 2022 are included in addition to the impacting factors.
- The report also provides quantitative as well as qualitative trends to assist the stakeholders to understand the situation prevailing in the market.
- Competitive intelligence highlights the business practices followed by leading market players across various geographies.
Flexible Thin Film and Printed Battery Market Segmentation
- Non rechargeable
- Consumer Electronics
- Energy Harvesting
- Pharmaceutical & Medical Devices
- Smart Cards
- Wearable Technology
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Middle East
- Blue Spark Technologies
- Enfucell Oy
- Flexel LLC
- Imprint Energy Inc
- Panasonic Corporation
- Samsung SDI Co., Ltd.