Flexible Batteries Market Size (2023 - 2030)

The Global Flexible Battery Market was valued at USD 193.50 Million and is projected to reach a market size of USD 1,150.29 Million by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 29%.

A flexible battery provides flexibility and portability in electronic devices. The replacement of conventional batteries with flexible batteries increases durability, improves efficiency, and reduces the weight of the product. Smart cards, flexible displays, wearable devices, and innovative packages all make use of it. A flexible battery's main advantages are its environmental friendliness and ease of use.

The growing need for thin and flexible batteries in electronic devices, as well as the shrinking of electronic products, are driving the global flexible battery market forward. Furthermore, huge firms are expanding their research and development activities, which promotes growth. However, the market's growth has been hampered by the expensive investment required and the absence of appropriate standards for the development of flexible batteries. Wearable electronics and the development of thin and flexible batteries in the Internet of Things, on the other hand, are generating a lot of buzz.

MARKET DRIVERS

Increasing demand for wearable devices drives the flexible battery market

There is an increase in the market of wearables that are electronically connected which makes it a big market. The wearable demand flexible batteries, which are used to power the electronics which in turn create a very big market to grow.

With the widespread use of portable medical devices during the COVID-19 pandemic, flexible batteries were in high demand

Several firms are inventing and supplying flexible batteries to power temperature sensors, pacemakers, and smart patches, and they are becoming more popular in the medical device market. New battery-powered medical gadgets have emerged as a result of technological improvements and IoT penetration in the medical industry. Implantable medical equipment like neural stimulators, pacemakers, and defibrillators require batteries that can provide consistent, reliable power for an extended period. Flexible batteries, with their great reliability and performance, suit these requirements. Flexible and thin power sources are used in new types of pacemakers, drug delivery systems, medical patches, medical diagnosis sensors, disposable medical devices, and biosensors. Flexible batteries are ideal for these applications because of their size and flexibility.

Demand for thin Film Batteries boosts flexible batteries market growth

Thin Film batteries are widely used in Smart Packaging and smart cards, wearable devices, and medical devices. They offer high performances and higher voltage which increases the output of the system.

MARKET RESTRAINTS

The lack of proper standards for the betterment of flexible batteries brings down market growth

The market's growth is being hampered by the demand for significant investment and the lack of adequate standards for the advancement of flexible batteries. Wearable electronics and the development of thin and flexible batteries in the Internet of Things, however, are creating tremendous market prospects.

High production costs hampering the growth of the flexible batteries market

High production costs have led to a decline in the flexible batteries market. Flexible batteries are a very competitive market which in turn leads to high competition among the key players for the capture of major market share.

Market Segmentation Analysis

Global Flexible Battery Market - By Type:

• Thin-Film Li-Ion
• Flexible Lithium Polymer
• Printed Battery
• Curved Battery
• Paper Battery

Based on the Type, Thin-film batteries are often used in smart packaging, chip cards, portable devices, and medical devices. These batteries have a small possibility of excellent performance and high average output voltage, and electrolyte leak as a small solid stat battery. An increase in demand for small products used in these applications increases the adoption of thin-film lithium-ion flexible batteries, which drives the growth of thin-film battery segments. The increase in demand for smart cards in telecommunication applications telecommunications, banking, and transport industries also maintains the growth of thin-film batteries in Flexible Battery.

Flexible Battery Market - By Voltage:

• Below 1.5
• Between 1.5 v and 3V
• Above 3v

Demand for flexible batteries with voltages above 3V is estimated to increase during the forecast period. Flexible batteries with voltages above 3V offer higher performance, longer life, and safety than other flexible batteries. The use of these batteries is increasing due to the development of a series of compact electronic devices that are generally bulky with conventional batteries. These batteries are used in home appliances and wearables

Flexible Battery Market - By Capacity:

• Below 10 mAh
• Between 10 mAh and 100 mAh
• Above 100 mAh

Flexible Battery Market - By Rechargeability:

• Primary Battery
• Secondary Battery

Based on Recharge ability, there are only two types of batteries primary and secondary. Primary batteries are used only once which is why they are not in very use which makes them less popular but secondary batteries are more than the best. They can be used many times which is why they are in great demand. Many kinds of devices use secondary types of batteries such as mobile phones and torches.

Flexible Battery Market - By Application:

• Consumer Electronics
• Smart Packaging
• Smart Cards
• Medical Devices
• Wireless Sensors
• Others (Drones, Displays, Energy Harvesting, and Smart Textiles)

Based on Application, Flexible batteries are increasingly being used in the medical device industry as several manufacturers develop and provide flexible batteries to power temperature sensors, pacemakers, and smart patches. Technological advances and the penetration of the IoT in the medical field have created opportunities for new battery-powered medical devices. Implantable medical devices such as neurostimulators, pacemakers, and defibrillators require batteries that can provide consistent and reliable performance over time. Flexible batteries meet these requirements due to their excellent reliability and performance. New versions of cardiac pacemakers, drug delivery systems, medical patches, medical diagnostic sensors, single-use medical devices, and biosensors use flexible, thin power supplies. The size and flexibility of the flexible battery perfectly meet these requirements. Therefore, the medical device segment holds a significant share of the flexible battery market.

Flexible Battery Market - By Region:

• North America
• Europe
• Asia-Pacific
• Rest of the World(Middle East, South America, and Africa)

Geographically, the demand for IoT-enabled devices and portable consumer products in countries such as China, Japan, and Korea is increasing. Korea has developed a flexible battery for learning products such as smartphones, Intelligent Glasses, Mobile Devices, etc. Asia-Pacific has continuously increasing popular packaging, which needs to integrate flexible battery intelligent packaging. China's entertainment electronics industry also produces a decrease in production by the occurrence of COVID19. With the passage of partial terminals of Chinese manufacturing facilities, the global price of consumer products has passed over the next few months. As a result, the supply of parts such as batteries required for home appliances will be insufficient, which is estimated to adversely affect the growth of the flexible battery market in 2022.

Due to continued research and development operations in these countries linked with flexible battery manufacturing technology, the European and North American regions are also likely to increase at a significant rate.

Flexible Battery Market Share by company

Samsung SDI (Korea), LG Chem(Korea), Enfucell Oy Ltd. (Finland), Blue Spark Technologies (US), Apple, Inc. (US), Panasonic (Japan), Ultralife Corporation (US), BrightVolt(US), Imprint Energy (USA), Energy Diagnostics (UK), Jenax (South Korea)) are the leading players in the flexible battery market. Samsung SDI (US) is the world's leading provider of flexible battery technology.

Through technological development, we strive to increase our presence in the market and create an advanced future. The company has launched two innovative small lithium-ion batteries (ribbon and strip batteries) for use in portable devices. These batteries bend like fibers. Tape batteries are designed to extend the device's original battery life by up to 50%. The strip battery is designed to a depth of 0.3mm and can be used in wearable devices such as smart necklaces and interactive garment designs. Samsung SDI operates in countries such as South Korea, Malaysia, China, Mexico, Vietnam, Austria, Russia, the USA, India, Taiwan, and Japan.

NOTABLE HAPPENINGS IN THE FLEXIBLE BATTERY MARKET IN THE RECENT PAST:

• Product Launch - In August 2022, Samsung announced that they would be introducing graphene batteries to enter the mobile phones.
• Collaboration - In Aug 2022. Stanford University has developed a highly flexible sticker called Bodynet which does have any chip or any other rigid components.

COVD-19 impact on Flexible Batteries Market

The outbreak of COVID-19 has created a negative impact on this sector. The Battery market faced a drastic decrease in the number of sales when COVID hit the market. There was a shortage of labor and workers which created a very harsh effect on this Industry which can be seen in the market.  Due to covid, the battery market began a downfall because the chips and semiconductor market was also a big loss. So there was an overall negative impact on the battery market due to Covid-19.