Thin Film and Printed Battery Market by Type (Thin Film, Printed), Voltage (Below 1.5 V, 1.5 to 3 V, Above 3 V), Capacity (Below 10 mAh, 10 to 100 mAh, Above 100 mAh), Battery Type (Primary, Secondary), Application, Region - Global Forecast to 2028
[205 Pages Report] 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.
Thin film and printed batteries are designed to complement the characteristics of thin and lightweight products with limited internal space. Unlike traditional batteries that are rigid and have predefined shapes, these batteries offer thin, flexible, light, and portable features.
Thin Film and Printed Battery Market Forecast to 2028
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Thin Film and Printed Battery Market Dynamics
DRIVERS: Rising proliferation of thin, flexible, and printed batteries in medical devices
In recent years, there have been advancements in medical devices, which require thin and flexible batteries. These batteries provide ease in designing miniature medical devices with reliable power sources. The increasing use of thin, flexible, and printed batteries significantly impacts healthcare research and development. These batteries are finding extensive application in devices worn or implanted in the human body, where minimizing their shape and size is crucial. This advancement in battery technology enables the development of more compact and lightweight medical devices, thus improving patient comfort and mobility.
RESTRAINTS: High initial investments
Manufacturing printed batteries imposes specialized equipment distinct from those used to print other products like electronics, chips, paper, and textiles. The development of printed flexible batteries requires high initial investments, especially to carry out research and development activities related to them and their manufacturing. It involves the implementation of advanced and expensive machinery, along with the required manufacturing technologies. The printing process for batteries demands high precision to ensure their functionality. As a result, manufacturers must invest in top-notch equipment and employ skilled workers with expertise in controlling the printing parameters. These factors increase the overall manufacturing cost.
OPPORTUNITIES: Advancements in next-generation thin film and printed lithium-air batteries
The demand for glucose-sensing armbands, heart-monitoring patches, and other wearable fitness devices is increasing globally. Battery researchers use thin, lightweight, printed, flexible, and stretchable batteries to power such electronic gadgets. However, most of these batteries are not durable. This has led to the development of next-generation thin film and printed flexible lithium-air batteries, which are reliable, thin, lightweight, and flexible. These next-generation batteries are currently in the initial years of development but are expected to power products ranging from clothing to roll-up tablets and prosthetic hands. Thin film and printed flexible lithium-air batteries are expected to store ten times more energy than current commercial lithium-ion cells.
CHALLENGES: Selection of raw materials and their high costs
Thin film and printed batteries offer limited power, unlike traditional batteries. Different types of thin film batteries that are available in the market are flexible alkaline batteries, plastic batteries, polymer lithium-metal batteries, and thin film lithium-ion batteries. Among these, thin film lithium-ion batteries are widely used owing to their increased flexibility, high-energy density, lightweight, and long lifespan. Despite these advantages, printed flexible lithium-ion batteries may be flammable and may lead to environmental problems. Zinc-based flexible batteries are cheaper than lithium-ion batteries and have no toxic material in them. However, zinc-based flexible batteries cannot effectively cater to every device's power requirements. Raw material costs and the required specifications and voltages of flexible batteries are among the key factors considered while selecting materials for their development. Thus, the selection of suitable materials to manufacture thin film and printed batteries with required specifications and voltage while keeping their costs low acts as a challenge for manufacturers of thin film and printed batteries.
Thin Film and Printed Battery Market Ecosystem
Prominent companies in this market include well-established, financially stable manufacturers, along with many startups and smaller companies. The thin film and printed battery market is still in emerging phase which presents huge growth opportunities for both large players and new startups. Some of the major players in this market include Samsung SDI Co., Ltd. (South Korea), Enfucell (Finland), Ultralife Corporation (US), Molex, LLC (US), NGK Insulators, Ltd. (Japan), Cymbet Corporation (US), Ilika plc (UK), and Jenax Inc. (South Korea). These companies have been focusing on new product developments, acquisitions, and partnerships to strengthen their market position.
Above 3 V voltage segment is expected to grow at a substantial CAGR during the forecast period.
Thin film and printed batteries with 3 V voltage offer higher power, longer life, and more safety than other flexible batteries. These batteries will likely witness a considerable global demand during the forecast period. Applications of thin film and printed batteries of 3 V have increased recently due to the development of many compact electronic devices. These batteries are expected to have applications in consumer electronics and wearables.
The market for 10 to 100 mAh capacity is projected to gain the largest market share during the forecast period
Thin film and printed batteries ranging from 10 to 100 mAh are comparatively large. These batteries are used for products requiring moderate to high energy. These thin film and printed batteries can be used in wearable devices, medical devices, energy harvesting systems, and wireless sensors. They can act as an integral part of these devices as their efficiency depends on the properties and shelf life of the batteries used. Thin film and printed batteries with a capacity of 10 to 100 mAh are expected to be the ideal energy sources for portable devices in the future.
Thin Film and Printed Battery Market by Region
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The market in Asia Pacific is projected to grow at the highest CAGR from 2023 to 2028.
The thin film and printed battery market in Asia Pacific has been studied for China, India, Japan, and the Rest of Asia Pacific. The growing demand for IoT-enabled devices and the increasing proliferation of portable consumer electronics in countries such as China and India are driving the growth of the thin film and printed battery market. Given its large-scale industrial development, increased mobile and internet penetration, skilled workforce, and stable political conditions, India presents significant growth opportunities for the IoT market. Moreover, the country is also one of the leading adopters of technologies and related products. In addition, factors such as a growing number of infrastructural activities, rising population and per capita income, increasing penetration of high-end technologies, and a rising economy are also driving the thin film and printed battery market. Furthermore, the usage of compact electronics and medical devices in other countries such as China, Japan, and Malaysia contributes to the growth of the region's thin film and printed battery market.
Key Market Players
Samsung SDI Co., Ltd. (South Korea), Enfucell (Finland), Ultralife Corporation (US), Molex, LLC (US), NGK Insulators, Ltd. (Japan), Cymbet Corporation (US), Ilika plc (UK), Jenax Inc. (South Korea), ProLogium Technology Co., Ltd. (Taiwan), Renata SA (Switzerland), and VARTA AG (Germany), are among a few top players in thin film and printed battery market.
Thin Film and Printed Battery Market Report Scope:
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Report Metric |
Details |
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Estimated Market Size in 2023 |
USD 187 Million |
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Projected Market Size in 2028 |
USD 650 Million |
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Growth Rate |
CAGR of 28.2% |
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Market Size Available for Years |
2019–2028 |
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Base Year |
2022 |
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Forecast Period |
2023–2028 |
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Units |
Value (USD Million/Billion) |
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Segments Covered |
Type, Voltage, Capacity, Battery Type, and Application |
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Geographic Regions Covered |
North America, Asia Pacific, Europe, and RoW |
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Companies Covered |
Major Players: Samsung SDI Co., Ltd. (South Korea), Enfucell (Finland), Ultralife Corporation (US), Molex, LLC (US), NGK Insulators, Ltd. (Japan), Cymbet Corporation (US), Ilika plc (UK), Jenax Inc. (South Korea), ProLogium Technology Co., Ltd. (Taiwan), Renata SA (Switzerland), VARTA AG (Germany) and Others- (Total 20 players have been covered) |
Thin Film and Printed Battery Market Highlights
This research report categorizes the thin film and printed battery market by component, material, type, voltage, capacity, battery type, application, and region.
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By Material: |
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By Type: |
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By Voltage: |
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By Capacity: |
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By Battery Type: |
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By Application: |
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By Region |
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Recent Developments
- In May 2023, Ilika plc rolled out the first shipment of the solid-state Stereax M300 batteries to its customers.
- In December 2021, Ultralife Corporation acquired Excell Battery Co. to strengthen its capabilities in mission-critical applications, such as downhole drilling, medical devices, OEM industrial devices, automated meters, and more. This acquisition will help scale up Battery & Energy Products business and expand key underserved market segments for the company.
- In May 2020, Enfucell launched the WithMe app for detecting temperatures. The app can be installed on a mobile or tablet with an NFC function, where the user can read the data on the Wearable Temperature Tag produced by Enfucell.
Frequently Asked Questions (FAQ):
What is the total CAGR expected to be recorded for the thin film and printed battery market during 2023-2028?
The global thin film and printed battery market is expected to record a CAGR of 28.2% from 2023–2028.
What are the driving factors for the thin film and printed battery market?
The growing interest in foldable electronics and wearables is the key driving factor for the thin film and printed battery market.
Which application will grow at a fast rate in the future?
The consumer electronics application is expected to grow at a substantial CAGR during the forecast period. Wearable devices require thin power sources, which can maintain their characteristics even when bent and twisted. This factor is expected to increase the use of thin film and printed batteries in wearable devices.
Which are the significant players operating in the thin film and printed battery market?
Samsung SDI Co., Ltd. (South Korea), Enfucell (Finland), Molex, LLC (US), NGK Insulators, Ltd. (Japan), and Ultralife Corporation (US) are among a few top players in the thin film and printed battery market.
Which region will grow at a fast rate in the future?
The thin film and printed battery market in Asia Pacific is expected to grow at the highest CAGR during the forecast period.
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The study involved four major activities in estimating the current size of the thin film and printed battery market. Exhaustive secondary research has been done to collect information on the market, peer, and parent markets. The next step has been to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches have been employed to estimate the total market size. After that, market breakdown and data triangulation methods were used to estimate the market size of segments and subsegments. Secondary and primary sources have been used to identify and collect information for an extensive technical and commercial study of the thin film and printed battery market.
Secondary Research
Secondary sources include company websites, magazines, industry news, associations, and databases (Factiva and Bloomberg). These secondary sources include annual reports, press releases, investor presentations of companies, white papers, certified publications, articles by recognized authors, regulatory bodies, trade directories, and databases. Secondary research helps in identifying the key players, their product offerings, and recent developments. It also assists in identifying the key drivers, restraints, opportunities, and challenges that are influencing market growth.
Primary Research
Primary sources mainly consist of several experts from the core and related industries, along with preferred thin film and printed battery providers, distributors, alliances, standards, and certification organizations related to various segments of this industry’s value chain.
In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts such as Chief Experience Officers (CXOs), Vice Presidents (VPs), and Directors from business development, marketing, product development/innovation teams, and related key executives from various thin film and printed battery providers, such as Samsung SDI Co., Ltd. (South Korea), Enfucell (Finland), Ultralife Corporation (US), Molex, LLC (US), and NGK Insulators, Ltd. (Japan); research organizations, distributors, industry associations, and key opinion leaders. Following is the breakdown of primary respondents.
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Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the total size of the thin film and printed battery market. These methods have also been used extensively to estimate the size of various subsegments in the market. The following research methodology has been used to estimate the market size:
- Major players in the industry and markets have been identified through extensive secondary research.
- The industry’s value chain and market size (in terms of value) have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size from the estimation process explained above, the overall market has been split into several segments and subsegments. The market breakdown and data triangulation procedures have been employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.
Thin Film and Printed Battery Market: Top-down Approach
In the top-down approach, the overall market size has been used to estimate the size of the individual market (mentioned in market segmentation) through percentage splits from secondary and primary research. For specific market segments, the size of the most appropriate immediate parent market has been used to implement the top-down approach. The bottom-up approach has also been implemented for data obtained from secondary research to validate the market size of various segments.
Thin Film and Printed Battery Market: Bottom-up Approach
The bottom-up approach has been used to arrive at the overall size of the thin film and printed battery market from the revenues of the key players and their market shares. Calculations based on revenues of key companies identified in the market led to the estimation of their overall market size.
Market Definition
Thin film and printed batteries are thin, lightweight, flexible, and compact and can be twisted or molded in various shapes according to the requirements of applications. They ensure the superior functionality of integrated products. Some thin film and printed batteries can retain their characteristics even when bent, twisted, or cut into parts. They are developed using different materials and can be of different sizes and shapes, depending on the applications wherein they are to be used to deliver optimum efficiency. Thin film and printed batteries differ from conventional batteries in features, size, form factor, shape, and flexibility.
Key Stakeholders
- Thin film and printed battery manufacturers
- Government Bodies and Policymakers
- Industry-standard Organizations, Forums, Alliances, and Associations
- Market Research and Consulting Firms
- Raw Material Suppliers and Distributors
- Research Institutes and Organizations
- Testing, Inspection, and Certification Providers
- Distributors and Resellers
- End Users
Report Objectives
- To define and forecast the thin film and printed battery market regarding the type, voltage, capacity, battery type, and application.
- To describe and forecast the thin film and printed battery market and its value segments for four regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW), along with their respective countries.
- To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
- To strategically analyze micro-markets concerning individual growth trends, prospects, and contributions to the overall market
- To study the complete value chain and allied industry segments of the thin film and printed battery market
- To analyze opportunities in the market for stakeholders by identifying high-growth segments of the market
- To strategically profile key players and comprehensively analyze their market position regarding ranking and core competencies, along with a detailed market competitive landscape.
- To analyze strategic approaches such as agreements, collaborations, and partnerships in the thin film and printed battery market
- To provide an analysis of the recession impact on the growth of the market and its segments
Available Customizations
Based on the given market data, MarketsandMarkets offers customizations in the reports according to the client’s specific requirements. The available customization options are as follows:
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
Growth opportunities and latent adjacency in Thin Film and Printed Battery Market