Thin Film and Printed Battery Market worth $650 million by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, July 3, 2023 /PRNewswire/ -- The global thin film and printed battery market size is expected to grow from USD 187 million in 2023 to USD 650 million by 2028, at a CAGR of 28.2% from 2023 to 2028 according to a new report by MarketsandMarkets™. The miniaturization of electronic devices in various industries has increased the demand for thin film and printed batteries. These batteries are also more cost-effective than conventional batteries. Smart cards, medical devices, consumer electronics, wireless sensors, and medical devices are some of the emerging applications of thin film and printed batteries.

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Thin Film and Printed Battery Market Report Scope:

The secondary battery segment is expected to gain a significant market share during the forecast period.

The secondary batteries are rechargeable and can be charged repeatedly but are costlier than single-use batteries. Secondary thin film and printed batteries are rechargeable by depositing electrodes and electrolytes onto a flexible substrate. They offer advantages such as flexibility, low cost, long cycle life, and safety. Rechargeable batteries have less environmental impact as they get recycled every time instead of getting disposed of. The most commonly used rechargeable batteries are lithium-ion (Li-ion) and lithium-ion polymer (Li-ion polymer) batteries, which exhibit high-energy-density. The adoption of wearable devices and medical devices such as smartwatches and fitness bands has increased in recent years, and they have significant potential to drive the market for secondary thin film and printed batteries. Hence, the secondary battery segment will gain a considerable market share in the thin film and printed battery industry.

The medical devices application is projected to gain a considerable market share during the forecast period.

Thin film and printed batteries are promising new battery technologies that have a number of advantages for medical applications. They are flexible and printed on a variety of substrates, making them easy to manufacture and they can also be customized to match the specific needs of any application. Presently, they are being used to power implantable medical devices, pacemakers, insulin pumps, and hearing aids. They are also used to power wearable medical devices, such as fitness trackers and blood pressure monitors. Overall, thin film and printed batteries offer a number of advantages for medical applications. As the technology continues to develop, these batteries are expected to be used in even more medical applications in the future.

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Asia Pacific is expected to hold a significant market share of the thin film and printed battery market 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 thin film and printed battery market in the Asia Pacific. The popularity of next-generation smart cards is rapidly increasing in Asia, thereby driving the demand for thin film and printed batteries. The market for thin film and printed batteries in the Asia Pacific is expected to grow significantly during the forecast period due to the increased demand for wearable devices and consumer electronics from key countries of the region. Several battery startups are developing thin film and printed batteries and integrating them with several products. Companies in this region have adopted new product launches strategy to enhance their market presence.

The major players in the thin film and printed battery companies include Samsung SDI Co., Ltd. (South Korea), Enfucell (Finland), Molex, LLC (US), NGK Insulators, Ltd. (Japan), Ultralife Corporation (US), Jenax Inc. (South Korea), and ProLogium Technology Co., Ltd. (Taiwan) among others.

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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

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