Flexible Batteries Market Size, Share, Growth Analysis, By Type(Thin-film batteries and printed batteries), By Rechargeability(Primary batteries and secondary batteries), By Region - Industry Forecast 2024-2031

Flexible Batteries Market size was valued at USD 102.6060492 million in 2021 and is poised to grow from USD 142 million in 2022 to USD 892.5323753 million by 2030, growing at a CAGR of 24.7% in the forecast period (2023-2030).

The flexible battery market is highly competitive, with the presence of several key players. The key market players are focusing on research and development to develop advanced battery technologies, such as solid-state batteries and lithium-sulfur batteries, to meet the growing demand for flexible and lightweight batteries in various applications. They are also focusing on partnerships, collaborations, and acquisitions to expand their market presence and enhance their product portfolio. The competitive landscape of the flexible battery market is expected to remain highly competitive in the coming years, with the entry of new players and the development of advanced battery technologies. 'LG Chem Ltd.', 'Samsung SDI Co., Ltd.', 'STMicroelectronics N.V.', 'Panasonic Corporation', 'Ultralife Corporation', 'Blue Spark Technologies, Inc.', 'Fullriver Battery New Technology Co., Ltd.', 'Enfucell Oy Ltd.', 'BrightVolt, Inc.', 'Imprint Energy, Inc.', 'Ilika plc', 'ProLogium Technology Co., Ltd.', 'Rocket Electric Co., Ltd.', 'NEC Energy Solutions, Inc.', 'NEC Corporation', 'Cymbet Corporation', 'Flexel LLC', 'Paper Battery Company, Inc.', 'Apple Inc.', 'Toshiba Corporation', 'In May 2021, LG Chem announced the launch of a new flexible battery for use in wearable devices, called "Flexible and Curved Battery". The battery is 20% more flexible and has a capacity of 300mAh.', 'In June 2021, Samsung SDI announced the development of a new flexible battery for use in foldable smartphones. The battery is designed to fold in half and has a capacity of 4000mAh.', 'In August 2021, Panasonic Corporation announced the development of a new flexible battery for use in smart clothing. The battery is thin and lightweight, with a capacity of 40mAh.', 'In September 2021, Enfucell announced the launch of a new flexible battery for use in smart packaging. The battery is printed on paper and has a capacity of 20mAh.'

The adoption of wearable devices and IoT devices is increasing rapidly across various industries, including healthcare, fitness, consumer electronics, and industrial applications. These devices require lightweight, flexible, and thin batteries that can be easily integrated into the devices without affecting their form factor or functionality. Flexible batteries offer a significant advantage over traditional rigid batteries in these applications, as they can be easily customized to fit the design of the device and can withstand bending and twisting. This increasing demand for wearable and IoT devices is expected to drive the growth of the flexible battery market in the coming years.

Increasing demand for wearable devices: One of the major trends in the flexible batteries market is the increasing demand for wearable devices. Wearable devices such as smart watches, fitness trackers, and augmented reality glasses require small, lightweight, and flexible batteries to power them. Flexible batteries are ideal for wearable devices as they can be made in different shapes and sizes to fit different form factors. The demand for wearable devices is expected to increase in the coming years, driven by the growing health and fitness awareness among consumers and the increasing adoption of smart homes and IoT devices. This is expected to drive the growth of the flexible batteries market.

The Asia Pacific region is expected to hold the largest share of the flexible battery market, as it is home to several key manufacturers of flexible batteries and electronic devices. Countries such as China, Japan, and South Korea are expected to be the major contributors to the growth of the flexible battery market in this region. China is the largest producer and consumer of electronic devices and it has a significant demand for flexible batteries. The increasing adoption of wearable devices, smartphones, and electric vehicles is driving the growth of the flexible battery market in China. Japan is a major market for flexible batteries due to the high adoption of wearable devices, medical devices, and IoT devices. Other countries in the Asia Pacific region, such as India, Taiwan, and Singapore, are also witnessing increasing demand for flexible batteries due to the growing adoption of wearable devices, IoT devices, and renewable energy systems.