Flexible Battery Market Unleashed: A Deep Dive into the $296 Million
With a strong development trajectory, the Flexible Battery Market is expected to surpass a notable milestone in 2025, rising from USD 142 million in 2022 to USD 296 million. A strong Compound Annual Growth Rate (CAGR) of 24.7% throughout the course of the predicted period is what is responsible for this amazing growth. Flexible batteries are seeing an increase in demand in the market due to their adaptability to many form factors and applications. The demand for creative and adaptable power solutions, like flexible batteries, is expected to rise significantly in the next years, reshaping the battery industry as sectors incorporate wearable and flexible electronics into their products more and more.
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The market for flexible batteries is seeing a significant surge, driven mainly by the growing wearable applications, continuous electronic device miniaturisation trends, and the growing demand for flexible power solutions in Internet of Things (IoT) applications. The wearable technology industry is seeing a boom in demand for flexible batteries as consumers accept smaller, more portable electronics. These variable power options provide a flexible and adaptable energy source for a range of applications, from fitness trackers and smartwatches to other Internet of Things devices, meeting the changing needs of contemporary electronics. The dynamic landscape of consumer electronics and the ongoing search for more adaptable and efficient power solutions are expected to propel the market's substantial rise.
With their mix of flexibility, temperature stability, safety, and longer shelf life, flexible batteries are a technological marvel. These batteries are essential to the shrinking of wearables and medical equipment, increasing the potential uses for these devices. These batteries differ from conventional rigid batteries in that they are flexible enough to hold their shape even after repeated bending or twisting. principal batteries and secondary batteries are the two principal categories of flexible batteries, both of which are intended to maintain their flexibility over time. The development of wearable and portable technologies is being aided by this advancement in battery technology, which is opening up new options for the functionality and design of numerous electronic gadgets.
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Samsung SDI (South Korea), LG Chem (South Korea), and Enfucell Oy Ltd. (Finland) are among the key players operating in the flexible battery market.
With creative technological innovations, Samsung SDI, a major player in the flexible battery market, is actively influencing the direction of this sector. With wearable devices in mind, the business has launched two innovative series of small-sized lithium-ion batteries: band batteries and strip batteries. These batteries are flexible, bending like fibres to meet the ever-changing demands of wearable technology. Smart necklaces and interactive clothing designs are just two examples of the many wearable applications that can benefit from the band batteries, which can increase original battery life by up to 50%, and the ultra-thin strip batteries, which have a depth of 0.3mm. Samsung SDI is dedicated to become the world leader in flexible battery technology, as seen by the strategic activities that it has implemented throughout several nations.
Being a major player in the flexible battery market, South Korean-based LG Chem distinguishes out for the variety of mobile batteries it offers, including lithium-ion prismatic, polymer, and cylindrical batteries. The firm achieved a significant milestone in 2012 when it unveiled the first flexible cable-type lithium-ion battery. This battery's exceptional flexibility allows it to be worn as a bracelet, knotted in knots, or incorporated into fabrics. With a slimmer profile and more flexibility, this novel battery maintains the same voltage and energy density as a smartphone battery. In 2015, LG Chem furthered its pioneering role by creating the first hexagon smartwatch batteries and wristband-type wire batteries designed exclusively for wearables and smartwatches. The ultra-slim shape of these wire batteries measures only 15 mm, and the hexagon batteries have a 25% larger storage capacity than regular circular watch batteries. The power requirements of IT products with curved screens or flexible designs, such as smartphones, smartwatches, and smart glasses, are met by LG Chem's stepped batteries. With 28 subsidiaries spread across China, Vietnam, India, the US, and Poland, as well as strong manufacturing capabilities across a variety of business categories, LG Chem has solidified its position as the industry leader in flexible batteries.
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The Finnish company Enfucell Oy Ltd. is well-known for its cutting-edge energy solutions, and SoftBattery and SoftBattery Plus are two of its best-selling products. Zinc, manganese dioxide, and zinc chloride are used as electrolytes in these recyclable, thin, flexible, and eco-friendly batteries. SoftBattery is positioned as a power source for a range of applications, such as wearable electronics and Internet of Things devices. It is also useful in semi-passive radio identification tags, microsensor patches and tags, greeting and powered cards, as well as disposable medical and cosmetic equipment that aids in package authentication. For wireless sensor devices with Bluetooth or near-field communication (NFC) transmission technologies, Enfucell provides product development services. Its batteries are essential to RFID tags, microsensors, pharmaceuticals, and cosmetics. Enfucell's market position has been strengthened with the release of SoftBattery Plus, which boasts a 50% reduction in internal resistance for higher peak currents and longer battery life. The company places a strong emphasis on strategic alliances and collaborations; in October 2016, it formed an alliance with US-based Molex in an effort to broaden its network of partners in order to better address the growing demand for printable batteries worldwide.
Due to the COVID-19 epidemic, major players in the battery sector, including Samsung SDI and LG Chem, have encountered considerable difficulties. Closures and a lack of manpower and raw material availability have prevented production facilities from operating at maximum efficiency. Long-term battery stock storage in warehouses, for three to six months, has also sparked worries about sulfation or discharge, which could result in early failures and monetary losses. Lockdowns have restricted mobility, which has an impact on the transportation of flexible batteries. They have also disturbed labour movements, especially in areas severely affected by Covid-19, which will have an impact on battery cell manufacturing in 2020.
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