Thin Film & Printed Battery Market
Added: (Tue Feb 22 2022)
Pressbox (Press Release) -
Market Overview
The Global "Thin Film and Printed Battery Market" is estimated to reach at a CAGR of 24.0% during the forecast period (2021-2028).
Thin Film and Printed Battery refer to a solid-state battery manufactured using the lean film construction. The unique light film construction process allows the battery layer stacks to be just a few nanometers thick, thereby reducing the overall size of the battery. Thin-film batteries have a better energy density, better safety, longer cycle life and lower manufacturing costs.
Thin film and printed batteries have various applications such as wireless sensors, wearable devices, implantable medical devices, RFID tags, renewable energy storage devices, etc. Conventional electronic manufacturers also use thin-film batteries to reduce the thickness of existing devices and make them more lightweight.
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Market Dynamics
The global thin film and printed battery market are driven by the growing demand for wireless sensors utilized in IoT and smart devices and the greater adoption of renewable energy sources, which requires battery storage, especially in remote and off-grid areas. However, the lack of standardization and the complexity involved in manufacturing the thin film batteries presents challenges to the market's growth.
Growing adoption of wearable electronic and IoT devices
A thin-film battery has flexible cells stacked in a few micron thick layers, packing more energy density in a smaller compact size. It provides usage of cheaper voltages and allows greater flexibility in manufacturing. Massive growth has been witnessed in personal wearable and IoT devices. The utilization of thin-film batteries only can fulfill the energy requirements of these devices.
The ongoing miniaturization of conventional batteries cannot minimize the size of traditional electronics such as smartwatches, smartphones, and televisions. The continuing miniaturization of electronics demands a smaller form factor for electronic components. Thin-film cell batteries are lightweight and compact, allowing form shrinking while maintaining the same energy density, which conventional batteries cannot achieve.
Increasing complexity and lack of standardization
As the drive towards miniaturization of electronic devices increases, each reduction in form factor brings increasing complexity to the battery design. The increasing complexity presents new challenges for fabricating the battery components. The balance between optimum battery performance and component size gets disturbed under current fabrication methods.
COVID-19 Impact Analysis
The global thin film and printed battery market underwent a significant decline in sales and demand due to the COVID-19 as numerous countries have implemented regulations and lockdown to curb the pandemic, which ultimately diminished the production potential of these nations along with the sales of previously finished products. The pandemic's knock-on effect on the global supply chain has further exacerbated the decline, causing shortages of vital electronic components. It has also adversely affected new investments by key players in the industry.
However, the COVID-19 pandemic presents new opportunities for the industry, particularly in the healthcare sector. Healthcare systems around the world have buckled under the strain of this pandemic. The social distancing rules and strain on healthcare resources have led doctors and healthcare workers to prefer remote monitoring instead of in-person visitations. In the future, the increasing adoption of personal health monitoring devices and the growth in telemedicine will be key in driving growth for the thin film battery market.
Segment Analysis
The global thin film and the printed battery are segmented on construction type, voltage, capacity, rechargeability, applications and Region. The international thin film and printed battery segment are segmented into consumer electronics, wireless sensors, smart construction, medical devices and others based on application.
Consumer electronics dominate the segment, owing to the increased miniaturization of electronics and widespread adoption of wearable devices globally. The adoption of thin-film batteries is also seen in backup systems for low-power renewable energy systems. Several leading players are developing new technologies to increase the energy density and reduce the size of thin-film batteries.
Geographical Analysis
North America accounts for the largest market share in the global thin film and printed battery market. Many industries that currently utilize thin film and printed batteries, such as space exploration, microelectronics, and IoT, dominate the U.S. However, in the long term, Asia-Pacific is expected to account for the largest market share due to shifting patterns of consumption and the presence of significant markets such as India and China.
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Competitive Landscape
The global thin film and printed battery market are highly competitive due to the presence of a multitude of adoptees with various energy density levels and form factors suited for a wide variety of applications. Some of the global growth contributing to the market's growth include Samsung SDI Co. Ltd, Panasonic Corporation, Enfucell OY, STMicroelectronics, Brightvolt, Inc. Batteries, Excellatron, NEC Corporation, Jiangsu Electronics, Cymbet Corporation, among others. The significant players adopt several growth strategies, such as new product launches and joint ventures, contributing to global growth.
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