Thin Film and Printed Battery Market Size, Share and Growth Analysis

Updated on : October 22, 2024

Thin Film and Printed Battery Market Size & Growth

Global Thin Film and Printed Battery Market Size is expected to grow from USD 187 Million in 2023 to USD 650 Million by 2028, growing at a CAGR of 28.2% during the forecast period from 2023 to 2028.

Thin film and printed batteries are designed to complement the characteristics of thin and lightweight products with limited internal space. Unlike traditional batteries that are rigid and have predefined shapes, these batteries offer thin, flexible, light, and portable features.

Thin Film and Printed Battery Market Forecast to 2028

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Thin Film and Printed Battery Market Trends:

DRIVERS: Rising proliferation of thin, flexible, and printed batteries in medical devices

In recent years, there have been advancements in medical devices, which require thin and flexible batteries. These batteries provide ease in designing miniature medical devices with reliable power sources. The increasing use of thin, flexible, and printed batteries significantly impacts healthcare research and development. These batteries are finding extensive application in devices worn or implanted in the human body, where minimizing their shape and size is crucial. This advancement in battery technology enables the development of more compact and lightweight medical devices, thus improving patient comfort and mobility.

RESTRAINTS: High initial investments

Manufacturing printed batteries imposes specialized equipment distinct from those used to print other products like electronics, chips, paper, and textiles. The development of printed flexible batteries requires high initial investments, especially to carry out research and development activities related to them and their manufacturing. It involves the implementation of advanced and expensive machinery, along with the required manufacturing technologies. The printing process for batteries demands high precision to ensure their functionality. As a result, manufacturers must invest in top-notch equipment and employ skilled workers with expertise in controlling the printing parameters. These factors increase the overall manufacturing cost.

OPPORTUNITIES: Advancements in next-generation thin film and printed lithium-air batteries

The demand for glucose-sensing armbands, heart-monitoring patches, and other wearable fitness devices is increasing globally. Battery researchers use thin, lightweight, printed, flexible, and stretchable batteries to power such electronic gadgets. However, most of these batteries are not durable. This has led to the development of next-generation thin film and printed flexible lithium-air batteries, which are reliable, thin, lightweight, and flexible. These next-generation batteries are currently in the initial years of development but are expected to power products ranging from clothing to roll-up tablets and prosthetic hands. Thin film and printed flexible lithium-air batteries are expected to store ten times more energy than current commercial lithium-ion cells.

CHALLENGES: Selection of raw materials and their high costs

Thin film and printed batteries offer limited power, unlike traditional batteries. Different types of thin film batteries that are available in the market are flexible alkaline batteries, plastic batteries, polymer lithium-metal batteries, and thin film lithium-ion batteries. Among these, thin film lithium-ion batteries are widely used owing to their increased flexibility, high-energy density, lightweight, and long lifespan. Despite these advantages, printed flexible lithium-ion batteries may be flammable and may lead to environmental problems. Zinc-based flexible batteries are cheaper than lithium-ion batteries and have no toxic material in them. However, zinc-based flexible batteries cannot effectively cater to every device's power requirements. Raw material costs and the required specifications and voltages of flexible batteries are among the key factors considered while selecting materials for their development. Thus, the selection of suitable materials to manufacture thin film and printed batteries with required specifications and voltage while keeping their costs low acts as a challenge for manufacturers of thin film and printed batteries.

Thin Film and Printed Battery Market Ecosystem

Prominent companies in this market include well-established, financially stable manufacturers, along with many startups and smaller companies. The thin film and printed battery market is still in emerging phase which presents huge growth opportunities for both large players and new startups. Some of the major players in this market include Samsung SDI Co., Ltd. (South Korea), Enfucell (Finland), Ultralife Corporation (US), Molex, LLC (US), NGK Insulators, Ltd. (Japan), Cymbet Corporation (US), Ilika plc (UK), and Jenax Inc. (South Korea). These companies have been focusing on new product developments, acquisitions, and partnerships to strengthen their market position.

Thin Film and Printed Battery Market Segmentation

Above 3 V voltage segment is expected to grow at a substantial CAGR during the forecast period.

Thin film and printed batteries with 3 V voltage offer higher power, longer life, and more safety than other flexible batteries. These batteries will likely witness a considerable global demand during the forecast period. Applications of thin film and printed batteries of 3 V have increased recently due to the development of many compact electronic devices. These batteries are expected to have applications in consumer electronics and wearables.

The market for 10 to 100 mAh capacity is projected to gain the largest market share during the forecast period

Thin film and printed batteries ranging from 10 to 100 mAh are comparatively large. These batteries are used for products requiring moderate to high energy. These thin film and printed batteries can be used in wearable devices, medical devices, energy harvesting systems, and wireless sensors. They can act as an integral part of these devices as their efficiency depends on the properties and shelf life of the batteries used. Thin film and printed batteries with a capacity of 10 to 100 mAh are expected to be the ideal energy sources for portable devices in the future.

Thin Film and Printed Battery Market Statistics by Region

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Thin Film and Printed Battery Industry Regional Analysis

Thin film and printed battery market in Asia Pacific is projected to grow at the highest CAGR from 2023 to 2028.

The thin film and printed battery industry in Asia Pacific has been studied for China, India, Japan, and the Rest of Asia Pacific. The growing demand for IoT-enabled devices and the increasing proliferation of portable consumer electronics in countries such as China and India are driving the thin film and printed battery market growth. Given its large-scale industrial development, increased mobile and internet penetration, skilled workforce, and stable political conditions, India presents significant growth opportunities for the IoT market. Moreover, the country is also one of the leading adopters of technologies and related products. In addition, factors such as a growing number of infrastructural activities, rising population and per capita income, increasing penetration of high-end technologies, and a rising economy are also driving the thin film and printed battery market. Furthermore, the usage of compact electronics and medical devices in other countries such as China, Japan, and Malaysia contributes to the growth of the region's thin film and printed battery market.

Top Thin Film and Printed Battery Companies - Key Market Players

• Samsung SDI Co., Ltd. (South Korea),
• Enfucell (Finland),
• Ultralife Corporation (US),
• Molex, LLC (US),
• NGK Insulators, Ltd. (Japan),
• Cymbet Corporation (US),
• Ilika plc (UK),
• Jenax Inc. (South Korea),
• ProLogium Technology Co., Ltd. (Taiwan),
• Renata SA (Switzerland),
• VARTA AG (Germany), are among a few top players in thin film and printed battery companies.

Thin Film and Printed Battery Market Report Scope:

Thin Film and Printed Battery Market Highlights

This research report categorizes the thin film and printed battery market share by component, material, type, voltage, capacity, battery type, application, and region.

Recent Developments in Thin Film and Printed Battery Industry

• In May 2023, Ilika plc rolled out the first shipment of the solid-state Stereax M300 batteries to its customers.
• In December 2021, Ultralife Corporation acquired Excell Battery Co. to strengthen its capabilities in mission-critical applications, such as downhole drilling, medical devices, OEM industrial devices, automated meters, and more. This acquisition will help scale up Battery & Energy Products business and expand key underserved market segments for the company. 
• In May 2020, Enfucell launched the WithMe app for detecting temperatures. The app can be installed on a mobile or tablet with an NFC function, where the user can read the data on the Wearable Temperature Tag produced by Enfucell.

Frequently Asked Questions (FAQ):

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