Thin Film Battery Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Battery Type (Disposable, Rechargeable), By Voltage (Below 1.5V, 1.5V to 3V, and Above 3V), By Application (Wearable Devices, Medical, Consumer Electronics, Smart Cards, and Others), By Region and Competition

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Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 0.59 Billion

Largest Market

North America

CAGR (2023-2028)

27.36%

Fastest Growing Segment

Rechargeable

Global Thin film battery market is expected to grow at a robust pace in the forecast period 2024-2028 owing to these batteries having a long battery backup, making them suited for low-power devices along with rising demand in both developed and developing countries for Smartphones, iPad, and other electronic devices such as Internet of Things (IoT) gadgets, wearable electronics, and medical tracking software. Moreover, advantages associated with thin film batteries as compared to lithium-ion are the factors expected to drive the global thin film battery market during the forecast period.

Thin film batteries are solid state batteries, or batteries that combine both solid electrodes and a solid electrolyte. Thin film batteries, like other batteries, have an anode and a cathode as well as an electrolyte to act as a separator between the two electrodes.

There are various benefits that thin film batteries have over conventional rechargeable solid-state batteries. They may be utilized to make smaller electronic devices due to their size, which is the first and most evident benefit. In addition, thin film batteries frequently outperform bulkier solid-state batteries in terms of performance, average output voltage, weight, flexibility, energy density, electrolyte leakage risk, tighter packing, and life cycles. These thin film batteries have an effective reversible lithium insertion mechanism between the electrodes, just like typical rechargeable batteries.

Commercially accessible thin film batteries have a wide range of uses, including renewable energy storage systems, smart cards, radio-frequency identification (RFID) tags, portable electronics, defibrillators, neurological stimulators, pacemakers, and wireless sensors.

Thin-film batteries distinguish themselves due to their high safety level. They are preferable to currently utilized liquid electrolyte cells, especially in terms of user proximity, because they only use solid-state components. Additionally, the possibility of stacking individual cells allows for optimal customization of the thin-film battery to each application scenario, and the inherent mechanical flexibility makes integration on a variety of surfaces possible. The thin-film battery's ability to be integrated in this situation is unrestricted. The user has complete freedom in choosing the cell's shape and geometry and it can be tailored to their preferences. These factors are expected to drive the growth of the global thin film battery market.

Thin film batteries have evolved in recent years in terms of their density, life span, and better safety. The major players are driven towards technical improvement by the increased demand for these batteries in electronic gadgets, medical devices, and smartwatches, allowing the batteries to become thinner or more flexible.

Moreover, the use of these batteries shall be accelerated by the expanding use of smart cards and e-cards in the government and transportation sectors to increase security. Smart cards increase the use of smart cards globally by providing personal identification, authentication, data storage, and application processing. Additionally, the market for thin film battery technology is being driven by the increasing use of smart cards in Europay, Mastercard, and Visa.

Growing Demand of Electronics Components to Support the Global Thin Film Battery Market

The demand for electronics components has increased as a result of the expanding market of gadgets like mobile phones, medical equipment, and smartwatches. Around the world, numerous tiny electronic gadgets and systems are being developed. Because it is difficult to shrink the size of electronics devices using ordinary batteries, miniaturization is becoming more and more necessary. Additionally, the need for tiny batteries has been caused by the diminishing form factors of implantable and wearable technologies.

Increasing Adoption of Wireless Sensors Worldwide is boosting the Global Thin Film Battery Market

As Internet of things (IoT) devices and wireless sensor technology evolve, wireless sensors are being adopted more widely across the globe. These technologies are starting to become feasible alternatives for embedded systems' power sources, which would enable the use of wireless sensors. Batteries would have a chance to grow as energy harvesting-based wireless sensors become more widely used. The use of smart cards for authentication is another factor promoting expansion. Both the wearables business and the IoT movement would expand over the upcoming years.  The IoT supports these end-user segments, which in turn helps the thin-film battery market grow. Flexible printed electronics and wearable technology are two of the application categories that are growing the fastest. Thin-film batteries are increasingly needed to power devices for prolonged periods of time as the number of IoT-connected devices grows. These gadgets need wireless communication that consumes very little power, is inexpensive, and are often very small in size. The aforementioned needs are effectively satisfied by thin-film batteries.


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Flexibility of Thin Film Batteries driving the Market Growth

Applications where flexibility and thinness are crucial are greatly facilitated by the high-density flexible battery's ability to be recharged. Consumer electronics and wearable technology are two well-known areas where flexible batteries are urgently needed. Therefore, successful integration of these important applications with flexible batteries is anticipated by both existing and developing businesses in order to increase performance. Moreover, flexible batteries would have chances as a result of the impending efforts to actually use rechargeable batteries for energy-intensive applications, which would lead to massive growth in the flexible battery market.

High Cost of Raw Materials and Lack of Standardization is Expected to Hinder the Global Thin Film Battery Market

When compared to lithium-ion batteries, the cost of the raw materials used to make these batteries is higher. Due to their chemical properties and volatile prices, many raw materials also have substantial material handling expenses. Thin film batteries are not consistently manufactured by different manufacturers, which causes compatibility problems when used with other devices. In addition, the cyclical nature of these commodities prices and their high material handling costs results in high final product costs. Moreover, the industry faces a significant obstacle in the shape of the high initial costs connected with the production and marketing of thin film batteries, despite the rising potential for product uptake. The fabrication of thin film batteries is quite expensive because it depends on rare earth metals like lithium. The high cost of lithium further raises the price of a thin film battery, making it unaffordable for many small- and medium-sized makers of consumer goods.

Additionally, based on the requirements of the manufacturers, the proprietary technologies utilized to produce printed flexible batteries vary from one manufacturer to another. Because these batteries are made specifically for specific electronic devices, using them with other devices will cause compatibility problems. As a result, the market for printed flexible batteries is constrained by the lack of standards that must be adhered to while developing batteries.

Recent Developments

  • The Netherlands-based start-up LionVolt BV, a division of the Netherlands Organization for Applied Scientific Research (TNO), announced in November 2021 that it had raised USD4.29 million in a funding round from the Brabantse Ontwikkelingsmaatschappij (BOM), the region's development organization, and Amsterdam-based venture capital and growth equity firm Prime Ventures. With the money, LionVolt would develop its 3D solid-state thin-film battery technology, which the company plans to first employ in wearable technologies and electric vehicles.

Market Segmentation

The global thin film battery market is segmented based on battery type, voltage, application, and region. Based on battery type, the market is bifurcated into disposable and rechargeable. Based on voltage, the market is bifurcated into below 1.5v, 1.5v to 3v, and above 3v. Based on application, the market is bifurcated into wearable devices, medical, consumer electronics, smart cards, and others. Based on region, the market is further bifurcated into North America, Asia-Pacific, Europe, South America, and Middle East & Africa.

Market players

The main market players in the global thin film battery market are Brightvolt Inc, Cymbet Corporation, Guangzhou Feng Jiang Battery New Technology Co. Ltd, Excellatron Inc, Jenax Inc, Kurt J. Lesker Company Ltd., Front Edge Technology Inc, Soleras Advanced Coatings BV, Molex LLC, and STMicroelectronics N.V.

Attribute

Details

Base Year

2022

Historic Data

2018– 2022

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million and CAGR for 2018-2022 and 2023-2028

Report Coverage

Revenue forecast, company share, growth factors, and trends

Segments Covered

Battery Type

Voltage

Application

Region  

Regional Scope

North America, Asia-Pacific, Europe, South America, Middle East & Africa

Country Scope

United States, Canada, Mexico, China, India, Japan, South Korea, Australia, Germany, United Kingdom, France, Italy, Spain, Brazil, Argentina, Colombia, Saudi Arabia, South Africa, UAE

Key Companies Profiled

Brightvolt Inc, Cymbet Corporation, Guangzhou Feng Jiang Battery New Technology Co. Ltd, Excellatron Inc, Jenax Inc, Kurt J. Lesker Company Ltd., Front Edge Technology Inc, Soleras Advanced Coatings BV, Molex LLC, STMicroelectronics N.V.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, global thin film battery market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Thin Film Battery Market, By Battery Type:

o   Disposable

o   Rechargeable

  •  Thin Film Battery Market, By Voltage:

o   Below 1.5V,

o   1.5V to 3V,

o   Above 3V  

  • Thin Film Battery Market, By Application:

o   Wearable Devices

o   Medical

o   Consumer Electronics

o   Smart Cards

o   Others   

  • Thin Film Battery Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Asia-Pacific

§   India

§  Japan

§  South Korea

§  Australia

§  China

o   Europe

§  Germany

§  United Kingdom

§  France

§  Italy

§  Spain

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East

§  Saudi Arabia

§  South Africa

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global thin film battery market.

Available Customizations:

Global thin film battery market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to ten).

The global thin film battery market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected] 

Table of content

1.    Product Overview

2.    Research Methodology

2.1. Baseline Methodology

2.2. Key Industry Partners

2.3. Major Association and Secondary Sources

2.4. Forecasting Methodology

2.5. Data Triangulation & Validation

2.6. Assumptions and Limitations

3.    Executive Summary

4.    Voice of Customers

5.    Global Thin Film Battery Market

5.1. Market Size & Forecast

5.1.1.        By Value

5.2. Market Share & Forecast

5.2.1.        By Battery Type (Disposable, Rechargeable)

5.2.2.        By Voltage (Below 1.5V, 1.5V to 3V, Above 3V)

5.2.3.        By Application (Wearable Devices, Medical, Consumer Electronics, Smart Cards, Others)

5.2.4.        By Region

5.3. By Company (2022)

5.4. Market Map

6.    North America Thin Film Battery Market Outlook

6.1. Market Size & Forecast

6.1.1.        By Value

6.2. Market Share & Forecast

6.2.1.        By Battery Type

6.2.2.        By Voltage

6.2.3.        By Application

6.2.4.        By Country

6.3. North America: Country Analysis

6.3.1.        United States Thin Film Battery Market Outlook

6.3.1.1.           Market Size & Forecast

6.3.1.1.1.          By Value 

6.3.1.2.           Market Share & Forecast

6.3.1.2.1.          By Battery Type

6.3.1.2.2.          By Voltage

6.3.1.2.3.          By Application  

6.3.2.        Canada Thin Film Battery Market Outlook

6.3.2.1.           Market Size & Forecast

6.3.2.1.1.          By Value 

6.3.2.2.           Market Share & Forecast

6.3.2.2.1.          By Battery Type

6.3.2.2.2.          By Voltage

6.3.2.2.3.          By Application 

6.3.3.        Mexico Thin Film Battery Market Outlook

6.3.3.1.           Market Size & Forecast

6.3.3.1.1.          By Value 

6.3.3.2.           Market Share & Forecast

6.3.3.2.1.          By Battery Type

6.3.3.2.2.          By Voltage

6.3.3.2.3.          By Application 

7.    Asia-Pacific Thin Film Battery Market Outlook

7.1. Market Size & Forecast

7.1.1.        By Value

7.2. Market Share & Forecast

7.2.1.        By Battery Type

7.2.2.        By Voltage

7.2.3.        By Application

7.2.4.        By Country

7.3. Asia-Pacific: Country Analysis

7.3.1.        China Thin Film Battery Market Outlook

7.3.1.1.           Market Size & Forecast

7.3.1.1.1.          By Value 

7.3.1.2.           Market Share & Forecast

7.3.1.2.1.          By Battery Type

7.3.1.2.2.          By Voltage

7.3.1.2.3.          By Application 

7.3.2.        India Thin Film Battery Market Outlook

7.3.2.1.           Market Size & Forecast

7.3.2.1.1.          By Value 

7.3.2.2.           Market Share & Forecast

7.3.2.2.1.          By Battery Type

7.3.2.2.2.          By Voltage

7.3.2.2.3.          By Application 

7.3.3.        Japan Thin Film Battery Market Outlook

7.3.3.1.           Market Size & Forecast

7.3.3.1.1.          By Value 

7.3.3.2.           Market Share & Forecast

7.3.3.2.1.          By Battery Type

7.3.3.2.2.          By Voltage

7.3.3.2.3.          By Application 

7.3.4.        South Korea Thin Film Battery Market Outlook

7.3.4.1.           Market Size & Forecast

7.3.4.1.1.          By Value 

7.3.4.2.           Market Share & Forecast

7.3.4.2.1.          By Battery Type

7.3.4.2.2.          By Voltage

7.3.4.2.3.          By Application 

7.3.5.        Australia Thin Film Battery Market Outlook

7.3.5.1.           Market Size & Forecast

7.3.5.1.1.          By Value 

7.3.5.2.           Market Share & Forecast

7.3.5.2.1.          By Battery Type

7.3.5.2.2.          By Voltage

7.3.5.2.3.          By Application 

8.    Europe Thin Film Battery Market Outlook

8.1. Market Size & Forecast

8.1.1.        By Value

8.2. Market Share & Forecast

8.2.1.        By Battery Type

8.2.2.        By Voltage

8.2.3.        By Application

8.2.4.        By Country

8.3. Europe: Country Analysis

8.3.1.        Germany Thin Film Battery Market Outlook

8.3.1.1.           Market Size & Forecast

8.3.1.1.1.          By Value 

8.3.1.2.           Market Share & Forecast

8.3.1.2.1.          By Battery Type

8.3.1.2.2.          By Voltage

8.3.1.2.3.          By Application 

8.3.2.        United Kingdom Thin Film Battery Market Outlook

8.3.2.1.           Market Size & Forecast

8.3.2.1.1.          By Value 

8.3.2.2.           Market Share & Forecast

8.3.2.2.1.          By Battery Type

8.3.2.2.2.          By Voltage

8.3.2.2.3.          By Application 

8.3.3.        France Thin Film Battery Market Outlook

8.3.3.1.           Market Size & Forecast

8.3.3.1.1.          By Value 

8.3.3.2.           Market Share & Forecast

8.3.3.2.1.          By Battery Type

8.3.3.2.2.          By Voltage

8.3.3.2.3.          By Application 

8.3.4.        Spain Thin Film Battery Market Outlook

8.3.4.1.           Market Size & Forecast

8.3.4.1.1.          By Value 

8.3.4.2.           Market Share & Forecast

8.3.4.2.1.          By Battery Type

8.3.4.2.2.          By Voltage

8.3.4.2.3.          By Application 

8.3.5.        Italy Thin Film Battery Market Outlook

8.3.5.1.           Market Size & Forecast

8.3.5.1.1.          By Value 

8.3.5.2.           Market Share & Forecast

8.3.5.2.1.          By Battery Type

8.3.5.2.2.          By Voltage

8.3.5.2.3.          By Application 

9.    South America Thin Film Battery Market Outlook

9.1. Market Size & Forecast

9.1.1.        By Value

9.2. Market Share & Forecast

9.2.1.        By Battery Type

9.2.2.        By Voltage

9.2.3.        By Application

9.2.4.        By Country

9.3. South America: Country Analysis

9.3.1.        Brazil Thin Film Battery Market Outlook

9.3.1.1.           Market Size & Forecast

9.3.1.1.1.          By Value 

9.3.1.2.           Market Share & Forecast

9.3.1.2.1.          By Battery Type

9.3.1.2.2.          By Voltage

9.3.1.2.3.          By Application 

9.3.2.        Argentina Thin Film Battery Market Outlook

9.3.2.1.           Market Size & Forecast

9.3.2.1.1.          By Value 

9.3.2.2.           Market Share & Forecast

9.3.2.2.1.          By Battery Type

9.3.2.2.2.          By Voltage

9.3.2.2.3.          By Application 

9.3.3.        Colombia Thin Film Battery Market Outlook

9.3.3.1.           Market Size & Forecast

9.3.3.1.1.          By Value 

9.3.3.2.           Market Share & Forecast

9.3.3.2.1.          By Battery Type

9.3.3.2.2.          By Voltage

9.3.3.2.3.          By Application 

10. Middle East & Africa Thin Film Battery Market Outlook

10.1.              Market Size & Forecast

10.1.1.       By Value

10.2.              Market Share & Forecast

10.2.1.       By Battery Type

10.2.2.       By Voltage

10.2.3.       By Application

10.2.4.       By Country

10.3.              Middle East & Africa: Country Analysis

10.3.1.  Saudi Arabia Thin Film Battery Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.              By Value 

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.              By Battery Type

10.3.1.2.2.              By Voltage

10.3.1.2.3.             By Application 

10.3.2.       South Africa Thin Film Battery Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.              By Value 

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.              By Battery Type

10.3.2.2.2.              By Voltage

10.3.2.2.3.             By Application 

10.3.3.       UAE Thin Film Battery Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.              By Value 

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.              By Battery Type

10.3.3.2.2.              By Voltage

10.3.3.2.3.             By Application 

11. Market Dynamics

11.1.   Drivers

11.2.   Challenges

12. Market Trends & Developments

13. Company Profiles

13.1.   Brightvolt Inc

13.1.1.      Business Overview

13.1.2.      Key Revenue and Financials  

13.1.3.      Recent Developments

13.1.4.      Key Personnel

13.1.5.      Key Product/Services Offered

13.2.   Cymbet Corporation

13.2.1.      Business Overview

13.2.2.      Key Revenue and Financials  

13.2.3.      Recent Developments

13.2.4.      Key Personnel

13.2.5.      Key Product/Services Offered

13.3.   Guangzhou Feng Jiang Battery New Technology Co. Ltd

13.3.1.      Business Overview

13.3.2.      Key Revenue and Financials  

13.3.3.      Recent Developments

13.3.4.      Key Personnel

13.3.5.      Key Product/Services Offered

13.4.   Excellatron Inc

13.4.1.      Business Overview

13.4.2.      Key Revenue and Financials  

13.4.3.      Recent Developments

13.4.4.      Key Personnel

13.4.5.      Key Product/Services Offered

13.5.   Jenax Inc

13.5.1.      Business Overview

13.5.2.      Key Revenue and Financials  

13.5.3.      Recent Developments

13.5.4.      Key Personnel

13.5.5.      Key Product/Services Offered

13.6.   Kurt J. Lesker Company Ltd.

13.6.1.      Business Overview

13.6.2.      Key Revenue and Financials  

13.6.3.      Recent Developments

13.6.4.      Key Personnel

13.6.5.      Key Product/Services Offered

13.7.   Front Edge Technology Inc

13.7.1.      Business Overview

13.7.2.      Key Revenue and Financials  

13.7.3.      Recent Developments

13.7.4.      Key Personnel

13.7.5.      Key Product/Services Offered

13.8.   Soleras Advanced Coatings BV

13.8.1.      Business Overview

13.8.2.      Key Revenue and Financials  

13.8.3.      Recent Developments

13.8.4.      Key Personnel

13.8.5.      Key Product/Services Offered

13.9.   Molex LLC

13.9.1.      Business Overview

13.9.2.      Key Revenue and Financials  

13.9.3.      Recent Developments

13.9.4.      Key Personnel

13.9.5.      Key Product/Services Offered

13.10. STMicroelectronics N.V.

13.10.1.   Business Overview

13.10.2.   Key Revenue and Financials  

13.10.3.   Recent Developments

13.10.4.   Key Personnel

13.10.5.   Key Product/Services Offered

14. Strategic Recommendations

15. About Us & Disclaimer

(Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions

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Thin-film batteries are solid-state batteries that incorporate thin-film manufacturing techniques with the benefits of solid-state batteries. Thin-film batteries, often known as micro batteries, are used to power consumer devices, smart cards, active RFID tags, and wireless sensors.

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When compared to lithium-ion batteries, the cost of the raw materials used to make these batteries is higher. Due to their chemical properties and volatile prices, many raw materials also have substantial material handling expenses.

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Major market players in the market are Brightvolt Inc, Cymbet Corporation, Guangzhou Feng Jiang Battery New Technology Co. Ltd, Excellatron Inc, Jenax Inc, Kurt J. Lesker Company Ltd., Front Edge Technology Inc, Soleras Advanced Coatings BV, Molex LLC, and STMicroelectronics N.V.

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Asia-Pacific is expected to be the dominant region during the forecast period because the region is home to some of the largest semiconductor and electronics manufacturers in the world. It is anticipated that the region would adopt new technology and innovation potential more quickly than other parts of the world.

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Parvati Sharma

Account Manager BD
Press Release

Thin Film Battery Market is Expected to be Dominated by the APAC Region through 2028

Aug, 2023

Global thin film battery market is expected to grow owing to the rising demand for electric vehicles (EVs) throughout the forecast period.

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