Product Code: SE 3839
"Increasing demand for flexible batteries for use in wearables is fueling the growth of the flexible battery market."
The flexible battery market is projected to grow at a CAGR of 24.7% from 2020 to 2025, reaching USD 296 million by 2025 from USD 98 million in 2020. The applications of wearable electronics are increasing continuously, ranging from consumer electronics and healthcare devices to enterprise and industrial use. There is a growing demand for mobile healthcare devices and wireless healthcare monitoring devices globally. These devices require durable energy sources, thereby creating a significant market potential for thin and flexible lithium batteries. The market for wearable electronics is witnessing an increasing number of new product launches and developments. These devices require high flexibility and lightweight batteries to ensure uninterrupted power supply to them. Moreover, research activities are being carried out globally to invent innovative, flexible batteries for wearable electronics.
The global production of consumer electronics has been declining owing to the COVID-19 outbreak. The prices of consumer electronics could rise in the coming months owing to the partial clampdown of consumer electronics manufacturing units in China. This, in turn, is expected to result in a cut short supply of components used in consumer electronics. Going forward, a number of manufacturers are expected to take into account the supply chain disruptions in China. The impact of supply chain disruptions on manufacturing facilities has been visible from April onwards as a number of other countries, including the US, India, Germany, and the UK, are also significantly impacted by COVID-19. This is expected to have a negative impact on the growth of the flexible battery market in 2020.
"The primary flexible batteries segment accounted for the largest share of the flexible battery market during the forecast period."
The single-use flexible batteries, such as printed batteries, are used in products without high power requirements and with a limited lifespan. These batteries are used in smart packaging, smart cards, and medical and cosmetic patches, as they have slower self-discharge time than rechargeable thin-film batteries. The sensors used in applications such as smart packaging and medical and cosmetic patches require disposable single-use power sources. Increasing adoption of these patches is expected to drive the growth of the flexible battery market during the forecast period.
"The above 3V segment of the market is projected to grow at the highest rate from 2020 to 2025."
The above 3V flexible batteries are preferred over other variants since they offer the most energy density with the lightest weight possible. These batteries are popular and have significant demand as they offer high power, have a long life, and offer increased safety. Moreover, they are not composed of toxic materials.
"The flexible battery market in APAC is projected to grow at the highest rate during the forecast period."
Continuously increasing demand for IoT-enabled devices and portable consumer electronics in countries such as China, Japan, and South Korea is driving the growth of the flexible battery market in APAC. The popularity of the next-generation smart cards is rapidly increasing in APAC, thereby driving the demand for flexible batteries to be integrated with smart cards as power sources. The market for flexible batteries in APAC is expected to grow significantly during the forecast period owing to the increased demand for wearable devices and consumer electronics from key countries of the region. A number of battery startups are developing flexible batteries and integrating them with a number of products. For instance, in 2019, Jenax (South Korea) launched a J.Flex battery, which can be twisted, bent, and folded like paper. It is used in medical devices and consumer electronics.
Moreover, the presence of a number of manufacturers of consumer electronics and wearable devices that include Panasonic Corp. (Japan), Sony Corp. (Japan), Samsung SDI Co. Ltd. (South Korea), LG Electronics Inc. (South Korea), etc. in the region is driving the growth of the flexible battery market in APAC.
Extensive primary interviews have been conducted with key experts in the flexible battery market to determine and verify the market size of several segments and subsegments.
Following is the breakup of the primary participants:
- By Company Type: Tier 1 = 25 %, Tier 2 = 40%, and Tier 3 = 35%
- By Designation: C-level Executives = 72% and Others = 28%
- By Region: North America = 32%, Europe = 30%, APAC = 24%, and RoW = 14%
The report profiles the key players in the flexible battery market and analyzes their market rankings. A few prominent players profiled in this report include Samsung SDI (South Korea), LG Chem (South Korea), Enfucell Oy Ltd. (Finland), Blue Spark Technologies (US), Apple, Inc. (US), Panasonic (Japan), Ultralife Corporation (US), BrightVolt (US), Imprint Energy (US), Energy Diagnostics (UK), and Jenax (South Korea).
Research Coverage:
This research report categorizes the flexible battery market based on type, rechargeability, voltage, capacity, application, and region. The report describes the key drivers, restraints, challenges, and opportunities pertaining to this market, as well as the value chain and market ranking analysis.
Reasons to Buy the Report:
The report is expected to help leaders/new entrants in the flexible battery market in the following ways:
- 1. The report segments the flexible battery market comprehensively, and provides the market size estimation for all segments and subsegments across different regions.
- 2. The report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
- 3. The report is expected to help stakeholders understand their competitors in an improved manner and gain insights to improve their position in the flexible battery market. The competitive landscape section describes the competitor ecosystem.
TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 OBJECTIVES OF THE STUDY
- 1.2 MARKET DEFINITION
- 1.2.1 INCLUSIONS AND EXCLUSIONS
- 1.3 STUDY SCOPE
- 1.3.1 MARKETS COVERED
- 1.3.2 YEARS CONSIDERED FOR THE STUDY
- 1.4 CURRENCY
- 1.5 LIMITATIONS
- 1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY
- 2.1 RESEARCH DATA
- 2.1.1 SECONDARY DATA
- 2.1.1.1 Key data from secondary sources
- 2.1.2 PRIMARY DATA
- 2.1.2.1 Key data from primary sources
- 2.1.2.2 Key industry insights
- 2.1.2.3 Break down of primary interviews
- 2.2 MARKET SIZE ESTIMATION
- 2.2.1 BOTTOM-UP APPROACH
- 2.2.1.1 Approach for arriving at market size using bottom-up approach (demand side)
- 2.2.2 TOP-DOWN APPROACH
- 2.2.2.1 Approach for arriving at market size using top-down analysis (supply side)
- 2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
- 2.4 RESEARCH ASSUMPTIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 FLEXIBLE BATTERY MARKET OPPORTUNITIES
- 4.2 FLEXIBLE BATTERY MARKET, BY RECHARGEABILITY
- 4.3 FLEXIBLE BATTERY MARKET IN NORTH AMERICA, BY APPLICATION AND COUNTRY, 2025
- 4.4 FLEXIBLE BATTERY MARKET, BY APPLICATION, 2020 & 2025
- 4.5 FLEXIBLE BATTERY MARKET, BY COUNTRY
5 MARKET OVERVIEW
- 5.1 INTRODUCTION
- 5.2 EVOLUTION
- 5.3 MARKET DYNAMICS
- 5.3.1 DRIVERS
- 5.3.1.1 Growing demand for flexible batteries for use in wearables
- 5.3.1.2 Increasing use of thin, flexible batteries for use in flexible electronic devices
- 5.3.1.3 Ongoing miniaturization of electronic devices
- 5.3.1.4 Surging demand for flexible batteries in IoT applications
- 5.3.1.5 Increasing use of flexible batteries in medical devices to treat COVID-19 patients
- 5.3.2 RESTRAINTS
- 5.3.2.1 High initial investments for developing flexible batteries
- 5.3.2.2 Lack of standardization for development of flexible batteries
- 5.3.3 OPPORTUNITIES
- 5.3.3.1 Development of next-generation flexible lithium-air batteries
- 5.3.3.2 Rise in adoption of wireless sensors equipped with flexible batteries
- 5.3.4 CHALLENGES
- 5.3.4.1 Fabrication complexity of flexible lithium-ion batteries
- 5.3.4.2 Costs and selection of raw materials for developing flexible batteries
- 5.3.4.3 Shutdown of flexible battery manufacturing plants in various countries owing to COVID-19
- 5.4 VALUE CHAIN ANALYSIS
- 5.5 IMPACT OF COVID-19 ON FLEXIBLE BATTERY MARKET
- 5.6 PATENTS RELATED TO FLEXIBLE BATTERIES
6 COMPONENTS USED IN FLEXIBLE BATTERIES
- 6.1 INTRODUCTION
- 6.2 ELECTRODES
- 6.2.1 CATHODES
- 6.2.2 ANODES
- 6.3 SUBSTRATES
- 6.4 ELECTROLYTES
- 6.5 OTHERS
7 MATERIALS USED IN FLEXIBLE BATTERIES
- 7.1 INTRODUCTION
- 7.2 LITHIUM ION
- 7.2.1 RISE IN USE OF LITHIUM-ION FLEXIBLE BATTERIES IN WEARABLE ELECTRONICS
- 7.3 LITHIUM POLYMER
- 7.3.1 INCREASE IN ADOPTION OF FLEXIBLE LITHIUM POLYMER-BASED BATTERIES OWING TO THEIR DURABILITY AND LOW SELF-DISCHARGE RATE
- 7.4 ZINC
- 7.4.1 ADVENT OF ZINC-BASED FLEXIBLE BATTERIES FOR USE IN NEXT-GENERATION FLEXIBLE ELECTRONICS
8 FLEXIBLE BATTERY MARKET, BY TYPE
- 8.1 INTRODUCTION
- 8.2 THIN-FILM BATTERIES
- 8.2.1 THIN-FILM BATTERIES SEGMENT TO LEAD FLEXIBLE BATTERY MARKET FROM 2020 TO 2025
- 8.3 PRINTED BATTERIES
- 8.3.1 ECO-FRIENDLY AND BIO-FRIENDLY COMPOSITION OF PRINTED BATTERIES LEADING TO THEIR INCREASED GLOBAL ADOPTION
9 FLEXIBLE BATTERY MARKET, BY VOLTAGE
- 9.1 INTRODUCTION
- 9.2 BELOW 1.5V
- 9.2.1 INCREASED ADOPTION OF BELOW 1.5V FLEXIBLE BATTERIES IN WEARABLE ELECTRONICS
- 9.3 BETWEEN 1.5V AND 3V
- 9.3.1 SURGED DEMAND FOR FLEXIBLE BATTERIES WITH VOLTAGE RANGING BETWEEN 1.5V AND 3V OWING TO EASE OF THEIR SAFE AND COMPLETE DISPOSABLE
- 9.4 ABOVE 3V
- 9.4.1 INCREASED USE OF FLEXIBLE BATTERIES WITH VOLTAGE ABOVE 3V OWING TO THEIR HIGH POWER OUTPUT AND LONG LIFE
10 FLEXIBLE BATTERY MARKET, BY CAPACITY
- 10.1 INTRODUCTION
- 10.2 10 MAH FLEXIBLE BATTERIES
- 10.2.1 RISE IN USE OF BELOW 10 MAH FLEXIBLE BATTERIES IN MEDICAL DEVICES, SMART CARDS, AND RFID TAGS
- 10.3 BETWEEN 10 MAH AND 100 MAH FLEXIBLE BATTERIES
- 10.3.1 SURGE IN USE OF FLEXIBLE BATTERIES WITH CAPACITY RANGING BETWEEN 10 MAH AND 100 MAH IN ENERGY HARVESTING AND CONSUMER ELECTRONICS APPLICATIONS
- 10.4 ABOVE 100 MAH FLEXIBLE BATTERIES
- 10.4.1 INCREASE IN USE OF ABOVE 100 MAH FLEXIBLE BATTERIES IN HIGH-POWER APPLICATIONS
11 FLEXIBLE BATTERY MARKET, BY RECHARGEABILITY
- 11.1 INTRODUCTION
- 11.2 PRIMARY BATTERIES
- 11.2.1 LOW COST AND ECO-FRIENDLY NATURE OF PRIMARY BATTERIES LEADING TO THEIR INCREASED USE IN VARIOUS APPLICATIONS
- 11.3 SECONDARY BATTERIES
- 11.3.1 INCREASED DEMAND FOR RECHARGEABLE SECONDARY BATTERIES OWING TO THEIR LONG LIFESPAN, HIGH-ENERGY DENSITY, AND LOW ENVIRONMENTAL IMPACT
12 FLEXIBLE BATTERY MARKET, BY APPLICATION
- 12.1 INTRODUCTION
- 12.2 IMPACT OF COVID-19 ON APPLICATIONS OF FLEXIBLE BATTERIES
- 12.3 CONSUMER ELECTRONICS
- 12.3.1 RISE IN DEMAND FOR FLEXIBLE AND MINIATURIZED ELECTRONIC PRODUCTS LEADING TO DEVELOPMENT OF FLEXIBLE BATTERIES
- 12.3.2 SMARTPHONES
- 12.3.3 WEARABLE DEVICES
- 12.4 MEDICAL DEVICES
- 12.4.1 USE OF PORTABLE MEDICAL DEVICES DURING COVID-19 PANDEMIC LED TO SIGNIFICANT DEMAND FOR FLEXIBLE BATTERIES
- 12.4.2 COSMETIC AND MEDICAL PATCHES
- 12.4.3 PACEMAKERS
- 12.4.4 HEARING AIDS
- 12.4.5 OTHERS
- 12.5 SMART PACKAGING
- 12.5.1 THIN-FILM FLEXIBLE BATTERIES IMPROVE RANGE OF COMMUNICATION OF SMART PACKAGING
- 12.5.2 SMART LABELS
- 12.6 SMART CARDS
- 12.6.1 DESIGN AND FLEXIBILITY OF FLEXIBLE THIN-FILM BATTERIES ENABLES SMART CARDS TO SUSTAIN HARSH PRODUCTION CONDITIONS
- 12.7 WIRELESS SENSORS
- 12.7.1 LIGHTWEIGHT AND FLEXIBILITY OF FLEXIBLE BATTERIES MAKE THEM IDEAL CHOICE FOR WIRELESS SENSORS
- 12.8 OTHERS
13 GEOGRAPHIC ANALYSIS
- 13.1 INTRODUCTION
- 13.2 NORTH AMERICA
- 13.2.1 US
- 13.2.1.1 Researchers in US developing flexible lithium-ion batteries for use in extreme conditions
- 13.2.2 CANADA
- 13.2.2.1 Adoption of IoT in medical devices and wireless sensors to create growth opportunities for flexible battery market in Canada
- 13.2.3 MEXICO
- 13.2.3.1 Increased research and development activities related to flexible batteries and surged sales of consumer electronics encourage companies to set up their production facilities in Mexico
- 13.3 EUROPE
- 13.3.1 GERMANY
- 13.3.1.1 Government support to promote production of flexible batteries to contribute to growth of market in Germany
- 13.3.2 UK
- 13.3.2.1 Surged demand for wearable devices and IoT-based medical devices to fuel growth of flexible battery market in UK
- 13.3.3 FRANCE
- 13.3.3.1 Increased adoption of smart cards in France to lead to growth opportunities for flexible battery market in country
- 13.3.4 REST OF EUROPE
- 13.4 APAC
- 13.4.1 CHINA
- 13.4.1.1 Increased production haul in China due to COVID-19 to adversely affect flexible battery market in country
- 13.4.2 JAPAN
- 13.4.2.1 Presence of key companies manufacturing consumer electronics to contribute to growth of flexible battery market in Japan
- 13.4.3 INDIA
- 13.4.3.1 Growth of medical sector in India to fuel demand for flexible batteries
- 13.4.4 REST OF APAC
- 13.5 ROW
- 13.5.1 SOUTH AMERICA
- 13.5.1.1 Chile being the world's largest producer of lithium offers opportunities for battery manufacturers to establish their flexible battery manufacturing facilities in country
- 13.5.2 MIDDLE EAST AND AFRICA
- 13.5.2.1 Adoption of smart card technology in banks of Middle East for secure transaction to fuel growth of flexible printed battery market in region
14 COMPETITIVE LANDSCAPE
- 14.1 INTRODUCTION
- 14.2 MARKET RANKING ANALYSIS
- 14.3 COMPETITIVE LEADERSHIP MAPPING
- 14.3.1 VISIONARY LEADERS
- 14.3.2 DYNAMIC DIFFERENTIATORS
- 14.3.3 INNOVATORS
- 14.3.4 EMERGING COMPANIES
- 14.4 COMPETITIVE SITUATIONS AND TRENDS
- 14.4.1 ACQUISITIONS AND AGREEMENTS, 2017-2019
15 COMPANY PROFILES
- 15.1 INTRODUCTION (Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
- 15.2 KEY PLAYERS
- 15.2.1 SAMSUNG SDI
- 15.2.2 LG CHEM
- 15.2.3 ENFUCELL OY LTD.
- 15.2.4 BLUE SPARK TECHNOLOGIES
- 15.2.5 APPLE INC.
- 15.2.6 PANASONIC CORPORATION
- 15.2.7 ULTRALIFE CORPORATION
- 15.2.8 BRIGHTVOLT
- 15.3 RIGHT TO WIN
- 15.4 OTHER PROMINENT PLAYERS
- 15.4.1 IMPRINT ENERGY
- 15.4.2 ENERGY DIAGNOSTICS
- 15.4.3 PROLOGIUM TECHNOLOGY CO., LTD.
- 15.4.4 MOLEX
- 15.4.5 POLYPLUS BATTERY COMPANY
- 15.4.6 ITEN SA
- 15.4.7 JENAX
- 15.4.8 GUANGZHOU FULLRIVER BATTERY NEW TECHNOLOGY CO., LTD.
Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.
16 APPENDIX
- 16.1 INSIGHTS OF INDUSTRY EXPERTS
- 16.2 DISCUSSION GUIDE
- 16.3 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 16.4 AVAILABLE CUSTOMIZATIONS
- 16.5 RELATED REPORTS
- 16.6 AUTHOR DETAILS
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