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Flexible Battery industry is likely to exhibit lucrative growth potential during the forecast period

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Flexible Battery industry is likely to exhibit lucrative growth potential during the forecast period

June 19
15:49 2020

Flexible batteries offer flexibility, temperature stability, and safety, along with long shelf life. These batteries enable miniaturization of wearables and healthcare devices, as well as increase their scope of application. There are 2 types of flexible batteries— primary batteries and secondary batteries. They can maintain their characteristic shape even after their continual twisting or bending. These batteries are designed to be flexible, unlike traditional rigid ones. The flexible battery market is projected to grow from USD 98 million in 2020 to USD 296 million by 2025; it is expected to grow at a CAGR of 24.7% from 2020 to 2025. Growing demand for flexible batteries for use in wearables, ongoing miniaturization of electronic devices, and surging demand for flexible batteries in IoT applications are among the key factors expected to drive the growth of the market.

 

Samsung SDI (South Korea), LG Chem (South Korea), and Enfucell Oy Ltd. (Finland) are among the key players operating in the flexible battery market.

 https://www.marketsandmarkets.com/Market-Reports/flexible-battery-market-190884508.html

Samsung SDI (South Korea) is one of the significant players in the flexible battery market. The company seeks to expand its market presence and create a progressive future through technological developments. It has launched 2 innovative series of small-sized lithium-ion batteries—band batteries and strip batteries— for use in wearable devices. These batteries bend like fiber. The band batteries are designed to add as much as 50% to the original battery life of devices. The strip batteries are designed with a depth of 0.3mm and can be used in wearable devices such as smart necklaces and interactive clothing designs. Samsung SDI has operations in countries such as South Korea, Malaysia, China, Mexico, Vietnam, Austria, Russia, the US, India, Taiwan, and Japan.

 

Another important player in the flexible battery market is LG Chem (South Korea). It offers a broad portfolio of mobile batteries, which comprise lithium-ion cylindrical, lithium-ion polymer, and lithium-ion prismatic batteries.The company produced its first flexible cable-type lithium-ion battery in 2012. This battery is flexible enough to be tied in knots, worn as a bracelet, or woven into textiles. It offers the same voltage and energy density as offered by a smartphone battery but is thinner with higher flexibility. In 2015, the company developed the world’s first smart watch hexagon batteries and wristband type wire batteries for use in wearable devices and smart watches. These wire batteries have an ultra-slim design size of 15mm, while hexagon batteries offer 25% more storage capacity than conventional batteries in circular watches. The stepped batteries offered by LG Chem refer to packs that can power curved screen or flexible design IT devices such as smartphones, smart watches, and smart glasses. The strong manufacturing capabilities of the company across its diversified business segments and a wide global presence have helped it maintain its leading position in the market. LG Chem has 28 subsidiaries worldwide, with manufacturing subsidiaries located in China, Vietnam, India, the US, and Poland.

 

Enfucell Oy Ltd. (Finland) is a leading provider of printable, thin, flexible, and eco-friendly SoftBattery energy solutions. The company offers SoftBattery and SoftBattery Plus printed batteries that use zinc, manganese dioxide, and zinc chloride as an electrolyte. These printable, thin, flexible, and eco-friendly SoftBattery are used as a power source in various IoT-enabled devices, wearable electronics, etc. They can be used as a power source for semi-passive radio identification tags and microsensor patches and tags. In addition, SoftBattery can also be used in greeting and powered cards and cosmetic and pharmaceutical disposable devices, as well as for authentication of packages. The batteries offered by Enfucell are used in RFID tags, microsensors, pharmaceuticals, and cosmetics. It offers product development services for a wide range of applications of wireless sensor devices equipped with Bluetooth or near-field communication (NFC) transmission technologies. SoftBattery Plus technology has about 50% reduced internal resistance resulting in higher peak currents and longer battery life than the conventional SoftBattery. This new battery launch has strengthened the position of Enfucell in the market. The company focuses on strategic collaborations and partnerships to strengthen its market position. In October 2016, Enfucell partnered with US-based Molex to strengthen its partner network to meet the growing global demand for printable batteries.

 

The majority of the production facilities of the key battery manufacturers such as Samsung SDI (South Korea) and LG Chem (South Korea) are either closed or are not able to attain full production capacity owing to the shortage of staff and raw materials resulting from the imposition of lockdowns. Moreover, battery stocks kept in warehouses of companies for long periods of time, ranging from 3 to 6 months, stand the risk of getting discharged or sulfated, thereby causing early failure of batteries and resulting in unnecessary financial losses. Limited mobility owing to the COVID-19 lockdowns has impacted the shipment of flexible batteries. The restrictions on the labor movement have hit battery production facilities located in COVID-19 hit provinces badly, thereby impacting the battery cell production year 2020.

 

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