According to the new market research report "Thin Film and Printed Battery Market with COVID-19 Impact, by Type (Thin-film, Printed), Voltage, Capacity, Rechargeability (Primary Batteries, Secondary Batteries), Application (Smart Packaging, Medical Devices), and Geography - Global Forecast to 2025", The global thin film and printed battery market size is projected to grow from USD 98 million in 2020 to USD 296 million by 2025; it is expected to grow at a CAGR of 24.7% from 2020 to 2025. The key factors fueling the growth of this market include growing demand for thin film and printed batteries for use in wearable's, ongoing miniaturization of electronic devices, surging demand for printed flexible batteries in IoT applications, increasing use of printed flexible batteries in medical devices to treat COVID-19 patients.
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Opportunity: Rise in adoption of wireless sensors equipped with thin film and printed batteries
Wireless sensors are being adopted rapidly across the world owing to advancements in IoT and wireless sensor technologies. Energy harvesting technologies such as thin film and printed flexible batteries are rapidly emerging as a viable power supply option for embedded systems, thereby leading to the use of wireless sensors in applications wherein they were not used previously. Micro batteries enable energy harvesting owing to their superior form factors, ultra-thin profile, and low leakage characteristics. The increasing adoption of energy harvesting-based autonomous wireless sensors is expected to act as a growth opportunity for the thin film and printed battery market
Challenge: Fabrication complexity of thin film lithium-ion batteries
Thin film batteries have several distinctive features such as high flexibility, light weight, easy portability, high power, and excellent energy density. The market for thin film lithium-ion batteries is growing at a significant pace. However, the fabrication of thin film lithium-ion batteries is more challenging than that of the conventional rechargeable lithium-ion batteries. During the fabrication of lithium-ion batteries, it is essential to achieve an optimal match between core components such as nanostructured electrode materials and shape-conformable solid electrolytes and soft current collectors. This enables batteries to maintain stable electrochemical performance even if they are deformed to fit powered devices. However, the fabrication process of such lithium-ion batteries is costly. Moreover, it requires a complex screening of solid-state electrolytes, soft current collectors, electrode materials, and full lithium-ion battery cell assemblies. Studies are being undertaken to focus on the fundamental understanding and simulation of fully thin film and printed flexible lithium-ion batteries. Additionally, research is also being carried out to test the reliability and the performance of these batteries that are not easily explored using the present state-of-the-art technologies. Thus, the fabrication complexity of thin film lithium-ion batteries acts as a key challenge for the growth of the market.
Smart packaging application is expected to hold the largest size of the thin film and printed battery market in 2020.
Smart packaging is expected hold the largest share in the thin film and printed battery market during the forecast period. Thin film and printed batteries are thin, flexible, and lightweight. They can be rolled without any loss of energy and are easy to dispose of. Thus, smart packaging manufacturers prefer thin film and printed batteries over conventional batteries, which are bulky and rigid. The increasing adoption of micro-batteries by smart packaging manufacturers is expected to fuel the growth of the smart packaging segment of the market during the forecast period. The outbreak of the COVID-19 pandemic has led to a decline in the growth rate of the thin film and printed battery market, owing to reduced manufacturing of products that use these batteries.
North America is projected to be the largest market for solid-state realy from 2020 to 2025.
North America accounted for the largest share of the thin film and printed battery market in 2019. Smart packaging, wearable devices, and smart cards are key application segments wherein thin film and printed batteries are used in North America These applications require thin and flexible power sources for their operations. Thin film and printed battery manufacturers such as Blue Spark Technologies (US), BrightVolt (US), and Ultralife Corporation (US) are also based in North America, thereby leading to the growth of the thin film and printed battery market in the region. The COVID-19 pandemic outbreak has affected the production and supply chain of thin film and printed batteries. It has adversely affected the investments undertaken to develop thin film and printed batteries by a number of manufacturers in the region. However, thin film and printed batteries are being increasingly used in medical applications to record the body temperature of the COVID-19 suspects, as well as of infected on a daily basis. This, in turn, has created a significant demand for thin film and printed batteries.
Samsung SDI Co., Ltd. (South Korea), Enfucell Oy Ltd. (Finland), Ultralife Corporation (US), Blue Spark Technologies (US), BrightVolt, Inc. (US), Apple Inc. (US), LG Chem Ltd. (South Korea), Fullriver Battery New Technology Co., Ltd. (China), and Panasonic Corporation (Japan). are some of the major players in thin film and printed battery market.
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