WASHINGTON, Feb. 08, 2022 (GLOBE NEWSWIRE) -- Rising technological advancements in thin film and printed batteries in industrial and medical sector is expected to drive the market. Thin-Film Battery is a low-profile, flexible, disposable battery with a small footprint designed for low-power single-use applications. Thin Film Batteries are zinc-carbon primary cells (Zn anode / MnO2 cathode) that nominally deliver either 1.5 or 3.0 volts. Due to these key factors the market is expected to flourish in coming years, states Vantage Market Research, in a report, titled “Thin Film and Printed Battery Market by Type (Thin film Batteries, Printed Batteries), by Voltage (Below 1.5V, Between 1.5V and 3V, Above 3V), by Capacity (Below 10 mAh, Between 10 mAh and 100 mAh, Above 100 mAh), by Rechargeability (Primary Batteries, Secondary Batteries), by Application (Smart Packaging, Medical Devices), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”. The market size stood at USD 120.09 Million in 2021.
The Global Thin Film and Printed Battery Market size is expected to reach USD 535.23 Million by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 23.8% during the forecast period of 2022-2028.
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- Updated Report Includes Major Market Players with their Sales Volume, Business Strategy and Revenue Analysis by using Vantage Market Research methodology.
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List of Prominent Players in the Thin Film and Printed Battery Market:
- Enfucell Oy Ltd. (Finland)
- Samsung (South Korea)
- Ultralife Corporation (US)
- LG Chem Ltd. (South Korea)
- Blue Spark Technologies (US)
The report on thin film and printed battery market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Value Chain Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Porter’s Five Forces Analysis
- Global and Regional Dynamics
Market Overview:
Technological Advancements & Future Challenges in Medical & Industrial Sector are Expected to Drive the Thin Film and Printed Battery Market.
The continuous advances in smart and multifunctional materials and the corresponding growth of the Internet of Things require novel battery concepts with improved integration in different substrates and devices, leading to more efficient energy storage devices with higher power and energy density. These new batteries can be obtained through printing technologies, as they present interesting characteristics such as being thin, flexible, low cost and eco-friendlier, for an increasing number of applications such as smart cards, radio-frequency identification, portable medical diagnostic systems and sensors, among others. Further, printing technologies allow simple and low-cost up-scaling and, therefore, rapid technology transfer.
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High Cost of Manufacturing & Maintenance is the Key Restraining Factor for Thin Film and Printed Battery Market
These batteries are made from high-cost material such as zinc and magnesium dioxide. The manufacturing of these materials is quite an expensive process which makes the batteries costlier. Other factors making the battery expensive are the stringent regulations passed by the government bodies on disposal conditions. This is few factors that are hindering the market growth globally.
Regional Analysis:
Increasing Growth of Thin Film and Printed Battery Market in Asia Pacific
Asia Pacific is anticipated to grow at a highest CAGR of 23.8% in the projected period. This is attributed due to presence of thin film and printed battery manufacturers, rising industrial and urban infrastructure is the key factors that are during the use of thin film and printed battery market to achieve sustainability. Countries such as India and China have huge potential for manufacturing due to increasing population and presence of rural location. North America, Middle East and Africa, and Europe also are growing in thin film and printed battery market due to stringent regulations imposed by government bodies on sustainable development.
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COVID-19 Analysis:
The COVID-19 outbreak has affected various industries worldwide. The thin film and printed battery market also had a huge impact. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the swift spread of COVID-19. These actions led to a severe impact on the global economy impairing various industries. Moreover, reduced construction activities further affected the demand for thin film and printed battery manufacturing across the globe. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data- points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Region 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
Recent Developments in the Industry:
In May 2019, Ultralife Corporation acquired Southwest Electronic Energy (SWE), an advanced battery solutions provider, in a deal worth USD 25 million. This acquisition enhanced the extensive portfolio of batteries and charger technologies of Ultralife Corporation and expanded its technical expertise to new industry segments.
In May 2017, Enfucell and Central Midori signed a license agreement for printing SoftBattery power sources of Enfucell. Under this agreement, Enfucell is widening the geographical coverage of its partner network to be able to serve the rapidly growing markets for IoT-enabled and wearable devices that are powered by printable batteries.
Browse market data Tables and Figures spread through 160 Pages and in-depth TOC on "Thin Film and Printed Battery Market by Type (Thin film Batteries, Printed Batteries), by Voltage (Below 1.5V, Between 1.5V and 3V, Above 3V), by Capacity (Below 10 mAh, Between 10 mAh and 100 mAh, Above 100 mAh), by Rechargeability (Primary Batteries, Secondary Batteries), by Application (Smart Packaging, Medical Devices), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/thin-film-and-printed-battery-market-128983
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Thin Film and Printed Battery Market?
- How will the Thin Film and Printed Battery Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Thin Film and Printed Battery Market?
- What is the Thin Film and Printed Battery market drivers and restrictions?
- What will be the CAGR and size of the Thin Film and Printed Battery Market throughout the forecast period?
This market titled “Thin Film and Printed Battery Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 120.09 Million |
| Projected Market Size in 2028 | USD 535.23 Million |
| CAGR Growth Rate | CAGR of 23.8% From 2022 - 2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Type: - Thin film Batteries, Printed Batteries Voltage: - Below 1.5V, Between 1.5V and 3V, Above 3V Capacity: - Below 10 MAH, Between 10 MAH and 100 MAH, Above 100 MAH Rechargeability: - Primary Batteries, Secondary Batteries |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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