Flexible Batteries Market

Market Overview

The Global Flexible Battery Market is anticipated to develop in a remarkable way with a CAGR of about 30% during the evaluated period. It is foreseen that the target market will expand from USD 0.8 Billion to USD 2.4 Billion by 2026. Flexible Battery is a kind of battery, both primary and secondary, which are designed to have qualities such as conformal and flexible, where the traditional rigid battery is not capable of. These flexible batteries are known to remain their original structure despite constant twisting or bending.

The major influencing factor for the global flexible battery market is the growing trend of electronics that are portable and flexible, which is leading to the developments in these flexible batteries that can be integrated in the products like smart cards, packaging, wearable electronics, flexible displays, transdermal drug delivery patches, and so on.

Recent Developments

• Ultralife Corp., a designer & manufacturer of batteries and communications systems that serve in the sectors such as government & defense, medical, safety & security, energy, and robotics, has announced that they have received a contract worth $14.4 million, from the Defense Logistics Agency of U.S. Government, to supply the lithium manganese dioxide, non-rechargeable batteries, and among others.  
• Samsung Group, one of the leading companies among the manufacturers of flexible batteries, is going to enter the partnership with Hyundai Motor Group to develop the batteries that are used in the Hyundai's upcoming EV vehicles.

Drivers and Restraints of Flexible Battery Market

The growth in the trend of miniaturization of electronics products coupled with the developments in power electronics is the major driver for the growth of the Global Flexible Battery Market. Moreover, the ability to dispose of these batteries, in an environmentally friendly way, and the rising research and development (R&D) activities in the paper battery are the other key factors that are touted to be fuelling the growth of the target market over the forecast period.

However, factors such as the storage capacity of these batteries which stores lesser energy is the major restraint that was becoming the challenge for the Global Flexible Battery Market. In addition, the high initial investment coupled with the lack of proper standardization of these batteries, all around the world, is hampering the growth of the target market to an extent.

Nonetheless, the growing popularity of wearable electronics coupled with the increase in the penetration of the internet of things (IoT) is expected to create lucrative growth opportunities for the players in the Global Flexible Battery Market.

Market Segmentation of Flexible Battery Market

Based on the Chargeability, the global Flexible Battery market is segmented into Rechargeable Battery and Single-Use Battery.

In the technological outlook, the global Flexible Battery market is segmented as Thin-Film Li-Ion, Flexible Lithium Polymer, Printed Battery, Curved Battery, and Paper Battery. Of these, the thin-film battery segment accounted for the major market share. The factor that is driving the growth of this segment is the wide usage of these batteries in various applications which includes smart packaging, smart cards, wearable devices, and medical devices. Moreover, the trend of miniaturization in the products that are used in numerous applications is fuelling the demand for thin-film lithium-ion battery, which is turning out to be a driver for the growth of this thin-film battery market over the outlook period. Another factor that was boosting the demand of these thin-film batteries is the advent of technologies of various applications.

On the application segmentation, the global Flexible Battery market is segmented as Medical Devices, Consumer Electronics, Smart Packaging, Smart Cards (E-Cards), Wearable Devices, Entertainment, Wireless Communication, and Others.

Flexible Battery Market Region wise analysis

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

In the regional analysis of the Global Flexible Battery Market, Asia-Pacific market held the major share of the target market, in the revenue aspect. It is also expected that this regional market is going to witness the highest growth rate owing to the rapid growth, over the forecast period. The presence of numerous producers of electronic components, assembly lines of electronic devices, and a large number of OEMs in China, South Korea, and India is the major factor that was driving the growth of the local Flexible Battery Market. Moreover, the expansion and the relocation of manufacturing & assembling locations for electronic devices in Asia along with the ease in the availability of competent labor and raw materials are the other factors that are pushing the regional Flexible Battery Market in the Asia-Pacific.

The European and North American Flexible Battery Markets are the other regional markets that are anticipated to grow in a substantial way over the estimated period. The major factors that are driving the growth of the target market in these regions are the constant research & development activities in these regions regarding the advancements in the technologies of these flexible Batteries.

Key Players of Flexible Battery Market

The key players of the Global Flexible Battery Market include Samsung SDI Co., Ltd. (South Korea), STMicroelectronics N.V. (Switzerland), LG Chem Ltd. (South Korea), Blue Spark Technologies Ltd. (U.S.), Enfucell Oy Ltd. (Finland), Ultralife Corp. (U.S.), BrightVolt Inc. (U.S.), Panasonic Corp. (Japan), NEC Energy solutions Inc. (U.S.), Rocket Electric Co., Ltd. (South Korea), and Guangzhou Fullriver Battery New Technology Co., Ltd. (China).