Key Findings: Flexible Battery Market to Witness Notable Expansion by 2025

The Flexible Battery Market is expected to rise significantly, from USD 98 million in 2020 to USD 296 million by 2025. This prediction shows a strong Compound Annual Growth Rate (CAGR) of 24.7% during the given time frame.

The surge in the market may be ascribed to multiple factors, including as the growing need for wearable electronics, portable electronics, and Internet of Things (IoT) devices, where flexible batteries have distinct benefits. Furthermore, new form factors and applications made possible by battery technological breakthroughs, such the creation of flexible and thin-film batteries, are propelling market expansion. The market's promising prognosis is further supported by the expanding use of flexible batteries across a range of industries, including consumer electronics, healthcare, and the automotive sector.

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Flexible batteries offer unmatched flexibility, temperature stability, safety features, and a prolonged shelf life, making them a major breakthrough in energy storage technology. Because of their special qualities, they can be easily integrated into wearable electronics and medical equipment, which will enable miniaturisation and increase the applications' potential. Flexible batteries, which are classified into primary and secondary varieties, are different from their conventional rigid counterparts in that they can maintain their shape even when continuously bent or twisted. In the near future, it is projected that the growing demand for wearable technology, continuous device miniaturisation trends, and the growing use of flexible batteries in Internet of Things (IoT) applications would drive market expansion.

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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.

Based in South Korea, Samsung SDI is a well-known player in the flexible battery market that is aggressively growing its market share and promoting innovation in the sector. The company has launched two innovative types of small-sized lithium-ion batteries—band batteries and strip batteries—that are especially designed for wearable devices, with an emphasis on technological innovation. These batteries are incredibly flexible; they can be bent to resemble fibres. For example, the band batteries have an amazing capacity to increase smartphone battery life by as much as 50%. Conversely, strip batteries, which have a depth of only 0.3 mm, can be incorporated into wearable technology such as interactive garment designs and smart jewellery. South Korea, Malaysia, China, Mexico, Vietnam, Austria, Russia, the US, India, Taiwan, and Japan are just a few of the nations where Samsung SDI operates internationally, demonstrating its dedication to promoting innovation and advancing the flexible battery market.

With its headquarters located in South Korea, LG Chem is a prominent player in the flexible battery market. Its mobile battery portfolio includes lithium-ion prismatic, polymer, and cylindrical batteries. The company has a history of innovation; in 2012, it unveiled the first flexible cable-type lithium-ion battery, which raised the bar for battery design's adaptability and flexibility. This innovative battery can be worn as a bracelet, knotted, or subtly incorporated into fabrics. It emphasises both thinness and increased flexibility. In spite of its thin profile, it delivers comparable voltage and energy density to conventional smartphone batteries. In 2015, LG Chem demonstrated its leadership in the industry by creating the first hexagon batteries for smartwatches and wire batteries shaped like wristbands. These cutting-edge batteries, which are distinguished by their incredibly thin profiles and customised designs, serve the growing wearable technology sector by providing increased storage capacity and unmatched versatility. Furthermore, LG Chem's stepped batteries, designed specifically for flexible and curved IT devices like smartwatches, smart glasses, and smartphones, highlight the company's dedication to advancing technology and satisfying changing consumer needs. With 28 subsidiaries worldwide and manufacturing facilities strategically located in China, Vietnam, India, the US, and Poland, LG Chem maintains a prominent position in the market by leveraging its strong manufacturing capabilities and widespread global presence. This allows the company to continue growing and innovating in the flexible battery industry.

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Based in Finland, Enfucell Oy Ltd. is a well-known supplier of state-of-the-art SoftBattery energy solutions that are flexible, printable, eco-friendly, and have a thin profile. Zinc, manganese dioxide, and zinc chloride are used as electrolytes in the company's main products, SoftBattery and SoftBattery Plus, which represent a distinctive fusion of innovation and sustainability. These thin, flexible, printable batteries are widely used in a variety of wearable electronics and Internet of Things devices, providing dependable power in a range of situations. SoftBattery appears as a flexible answer for contemporary technical needs, enabling developments in semi-passive radio identification tags, microsensor patches and tags, as well as greeting cards and cosmetic and pharmaceutical disposable devices. Beyond product development, Enfucell's strategic focus includes full services for wireless sensor devices that use Bluetooth or near-field communication (NFC) transmission technologies. This allows for improved functionality and smooth integration. Enfucell's market position is further strengthened by its notable SoftBattery Plus technology, which has a 50% reduction in internal resistance and unlocks higher peak currents and longer battery life compared to conventional competitors. In order to strengthen its position in the market, the firm aggressively seeks out strategic alliances and collaborations. One such example is the agreement it formed in October 2016 with US-based Molex, which aims to grow its network of partners and satisfy the growing demand for printable batteries worldwide.

The COVID-19 epidemic has caused lockdowns, which have severely hampered the operations of major battery manufacturers including South Korea's Samsung SDI and LG Chem. The sector confronts significant hurdles in ensuring supply chain continuity as a result of production facilities that are either closed or unable to operate at full capacity because of workforce shortages and limitations with raw materials. When battery inventories are stored for longer periods of time—between three and six months—the possibility of discharge or sulfation increases, endangering the integrity of the battery and perhaps causing early failures and monetary losses. To make matters worse, mobility restrictions have made it difficult to ship flexible batteries. The negative effects of labour mobility have been especially felt by battery production facilities located in COVID-19 affected areas, which will further impede the production of battery cells in 2020. Resilience, flexibility, and strategic planning are essential as the industry works through these difficulties to minimise interruptions and guarantee the continued availability of vital battery technologies in the face of continuous uncertainty around the world.

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