According to a new market report published by Transparency Market Research “Flexible Battery Market (By Chargeability – Chargeable Flexible Battery, Single Use Flexible Battery, By Product Type – Laminar Lithium-Polymer Battery, Thin Film and Printed Battery, Flexible Zinc Carbon Battery, Advanced Lithium Ion Battery, By End User – Consumer Electronics, Healthcare, Smart Packaging, Transportation and Logistics and Others)– Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017– 2025”, the global flexible battery market was valued at USD 230.0 million in 2016 and is expected to reach USD 2437.6 million by 2025, growing at a CAGR of 32.9% from 2017 to 2025.
Flexible batteries are technologically advanced battery structure that are conformal and flexible as compared to traditional batteries which are heavy, rigid and have fixed forms factor. The design of this batteries provide substantial benefit in term of performance and form factor. The market of flexible battery across the globe is at the nascent stage at present and is expected to grow rapidly due to the extensive research and development activities that is taking place in the field of battery technology. In addition, the global flexible battery market is expected to witness a rapid growth rate due to the rapid investment of companies like Panasonic Corp. and Samsung SDI Corp. Ltd among others.
The growth in the global flexible battery market is propelled by certain driving factors. These factors include increasing demand for the wearable devices like smart watches, smart bands and others. With the rising awareness of health consciousness, people are using this wearable devices to keep a track of their health records. Additionally, the demand generated in the healthcare segment for flexible battery is expected to boost the growth of flexible battery market in the coming years. Flexible batteries being eco-friendly have low impact on the environment. This in turn is anticipated to accelerate the adoption rate of flexible batteries across various application segments. This batteries contain a small amount of lithium carbonate as a percent of weight that is inexpensive compared to nickel or cobalt. Thus, disposal of batteries has become an extremely important issue for battery manufacturers and recycling organization. Flexible batteries are easily disposable that helps in reducing the pollution, saves natural resources and comply with various regulations as it does not fall under the category of hazardous waste.
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