Thin Film and Printed Battery Market Report By Insights, Size, and Growth - 2031

The market for thin film and printed batteries is projected to increase from US$ 197.31 million in 2023 to US$ 904.94 million by 2031, reflecting a compound annual growth rate (CAGR) of 21.0% during the period from 2023 to 2031.

The growth of the healthcare sector offers a substantial opportunity for the thin film and printed battery market in the upcoming years. With the introduction of solid-state lithium technology, these batteries are poised to enter a transformative phase, enabling higher energy density in compact designs. This innovation in battery technology opens up significant possibilities for the MedTech sector, facilitating the creation of smaller, more user-friendly product designs and driving market expansion. The impact of this technology is particularly notable in the integration of wearable devices and over-the-counter (OTC) hearing aids, as well as in the development of wearable gadgets for remote health monitoring and fitness tracking. Such advancements could fundamentally change the MedTech landscape, enhancing product functionalities and user satisfaction. The recent emergence of OTC hearing aids in the United States exemplifies the significant changes occurring in the fields of hearables and medical remote monitoring, as well as fitness-tracking wearables. This shift towards OTC classification is expected to lower hearing aid prices while fostering innovation and competition within the sector. Consequently, the rising demand for thin film batteries in medical device manufacturing has become a crucial trend in the global thin film and printed battery market.

As per the thin film and printed battery market analysis, the United States is anticipated to witness substantial growth, driven by the escalating need for high-speed data transmission fueled by the surge in smart device usage and the expansion of the Internet of Things (IoT). Thin film and printed batteries provide the essential energy density and durability required for these devices, promoting their widespread adoption across the nation. Additionally, significant investments from major industry players and government initiatives are further accelerating the growth of the thin film and printed battery market in this region. For example, in June 2021, the Department of Energy launched the National Blueprint for Lithium Batteries 2021 to 2030, which set specific objectives to enhance the manufacturing sectors related to electrodes, cells, and battery packs within the United States. Furthermore, the administration has pledged to reinforce requirements for sourcing batteries from domestic manufacturers. All these factors are expected to contribute positively to the expansion of the thin film and printed battery market during the forecast period.

Key players in the thin film and printed battery market include Molex LLC, Varta AG, Renata SA, Enfucell Flexible Electronics Ltd, STMicroelectronics, Samsung SDI Co Ltd, Excellatron Solid State LLC, Ultralife Corporation, Ilika, and Imprint Energy. These companies supply batteries for a variety of applications. For instance, Varta AG provides a wide array of thin film and printed batteries that support numerous intelligent applications across different sectors. These applications encompass traceability, product security, nanotechnology, IoT devices, smart medicine, and advanced sports technology. A comprehensive analysis of several other prominent players was also conducted in the thin film and printed battery market report to gain a complete understanding of the market dynamics and ecosystem.

• In November 2022, STMicroelectronics announced the commencement of limited production of EnFilm's cutting-edge rechargeable batteries, which measure less than 0.25 mm in thickness. The SST EFL700A39 EnFilm solid-state thin film lithium battery, with a thickness of 220 ?m and dimensions of 25.7 mm x 25.7 mm, is particularly suited for ultra-slim devices. It operates at a nominal voltage of 3.9 V and has a capacity of 0.7 mAh, making it applicable for a wide range of uses. This lithium technology allows for rapid charging via a 4.2 V charging circuit and exhibits minimal capacity loss and an extended cycle life, potentially lasting around 10 years with daily charging.