Global Stretchable Batteries Market Size to Reach USD 1,386.8 Million in 2032 | Emergen Research
Rise in adoption of wireless sensors equipped with flexible batteries is a major factor driving stretchable batteries market revenue growth
Vancouver, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Anticipated to attain a value of USD 1,386.8 Million by 2032, the global stretchable batteries market is poised to exhibit a consistent compound annual growth rate (CAGR) of 23.0% throughout the projection period, according to the most recent analysis conducted by Emergen Research. The surge in technological advancements within the stretchable battery domain is expected to be a significant driver for the upward trajectory of market revenue. This impetus is primarily attributed to the escalating demand for cutting-edge wearable devices, which encompass smart bands, implantable electronic devices like pacemakers, and supple wearables tailored for employment in the immersive metaverse landscape. These developments have incited a keen interest in formulating batteries endowed with flexible and stretchable attributes that mirror the pliability of human skin and organs.
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Recent strides in the realm of materials science have yielded innovative substances that are well-suited for integration into stretchable batteries. A notable instance is a groundbreaking achievement by a Korean research team on March 25, 2022. This team crafted a pliant, mechanically adaptive lithium battery engineered for wearable gadgets. They explored its potential by imprinting batteries onto fabric surfaces. Noteworthy is the fact that this battery can seamlessly incorporate established lithium-ion battery materials, culminating in an energy storage density of around 2.8 mWh/cm². This metric stands in parity with commercially accessible rigid lithium-ion batteries that function at 3.3 V or beyond.
Remarkably, every constituent of this stretchable lithium-ion battery showcases mechanical robustness, preserving performance integrity even after enduring over 1,000 stretching cycles. This resiliency is underscored by a stretchability exceeding 50%, in addition to sustained long-term stability when exposed to ambient conditions.
Nonetheless, subjecting a flexible battery to repeated twisting actions may induce cracks within the electrode sheet, ultimately compromising the structural integrity of the active material. This has the potential to impede the otherwise robust growth of market revenue. The underlying cause of this challenge predominantly stems from the limited adhesive strength that exists between the electrode material and the current collector. Furthermore, the spatial interval separating the anode and cathode experiences constant fluctuations in response to ongoing twisting maneuvers, consequently eliciting an escalation in the internal resistance of the battery.
Hence, it is imperative that flexible batteries exhibit heightened stability across the intricate layers encompassing the anode, separator, and cathode. Moreover, attention is drawn to a pertinent concern centered around the battery pack itself. Although aluminum plastic film is generally unproblematic when employed in conventional lithium batteries, its application in flexible battery contexts becomes problematic due to its susceptibility to wrinkling. This complication can give rise to predicaments should the electrode layers become punctured, potentially resulting in leaks. These leaks not only have the potential to curtail the growth of market revenue but also raise concerns regarding the overall viability of the technology.
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*Scope of Research *
*Report Details* *Outcome*
Market Size in 2022 USD 175.7 Million
CAGR (2023–2032) 23.0%
Revenue Forecast To 2032 USD 1386.8 Million
Base Year For Estimation 2022
Historical Data 2019–2021
Forecast Period 2023–2032
Quantitative Units Revenue in USD Million and CAGR in % from 2023 to 2032
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered Technology, voltage, material, capacity, application, end-use, and region
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country Scope U.S., Canada, Mexico, Germany, U.K., France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, and Rest of Middle East & Africa
Key Companies Profiled Energy Diagnostics, Inc., Dow, Ultralife Corporation, BrightVolt Solid State Batteries, Molex, LLC, SAMSUNG SDI CO., LTD, LG Chem, Imprint Energy, ITEN and ProLogium Technology CO., Ltd
Customization Scope 10 hours of free customization and expert consultation
*Major Companies and Competitive Landscape *
The global stretchable batteries market is fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective database security. Some major players included in the global stretchable batteries market report are:
· Energy Diagnostics, Inc.
· Dow
· Ultralife Corporation
· BrightVolt Solid State Batteries
· Molex, LLC
· SAMSUNG SDI CO., LTD
· LG Chem
· Imprint Energy
· ITEN
· ProLogium Technology CO., Ltd.
*Strategic Development*
On 5 June 2023, Forsee Power, a renowned company specializing in intelligent battery systems for sustainable electromobility, is introducing FLEX PLUS, an advanced battery system designed for heavy electric vehicles such as buses, trucks, and off-highway vehicles. FLEX PLUS joins the existing PLUS format product family, which already includes ZEN PLUS, a high-energy battery system range introduced in 2022. This new battery pack offers a perfect solution, seamlessly combining power and energy for 100% battery opportunity charging, as well as for thermal hybrid and fuel-cell heavy vehicles.
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*Some Key Highlights From the Report*
· The thin-film segment is expected to account for largest revenue share in the global stretchable batteries market during the forecast period. Stretchable batteries with thin-film technology have a unique ability to bend, twist, and adapt to irregular shapes without suffering damage. This remarkable flexibility makes them ideal for integration into wearable electronics, smart clothing, electronic skin patches, and other devices where conventional rigid batteries would not be feasible. These batteries utilize thin layers of materials such as lithium or solid-state electrolytes to create power sources that are both flexible and lightweight. In addition, they can be fabricated on flexible substrates such as plastic or metal foils using processes including sputtering or chemical vapor deposition.
· The wearable electronic segment is expected to account for a significantly large revenue share in the global stretchable batteries market over the forecast period. Stretchable batteries possess the ability to bend, twist, and flex in sync with the wearable device, creating a seamless and comfortable user experience. They can easily adapt to wearer's body shape, ensuring a snug fit and minimizing any discomfort. Moreover, their thin and lightweight design adds minimal extra weight to wearable devices, a crucial feature that enhances user comfort, particularly during prolonged use.
· The North America market is expected to account for largest revenue share in the global stretchable batteries market during the forecast period. This is attributed to increasing activities by key market players in countries in this region. For instance, on 31 July 2023, a completely stretchy fabric-based lithium-ion battery was created and successfully prototyped by researchers at the University of Houston (UH) in the United States. The method opens up potential for wearable devices and implanted biosensors by turning stiff lithium-ion battery electrodes into fabric-based, flexible, and stretchy ones. The new batteries' stretchy and flexible features are intended to overcome constraints of conventional batteries, which are stiff and employ flammable liquid electrolytes that can cause a fire or explosion. The success of the study is due to the usage of conductive silver fabric, which provides a platform and current collector that can bend or stretch while retaining electrical conduction routes.
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*For the purpose of this report, Emergen Research has segmented the **global **stretchable batteries market** based on** technology, voltage, material, capacity, application, end-use, and region:*
· *Technology** Outlook (Revenue, USD Million; 2019–2032)*
· Thin-Film Batteries
· Printed Batteries
· Stretchable Lithium-ion Batteries
· Stretchable Solid-state Batteries
· *Voltage** Outlook (Revenue, USD Million; 2019–2032)*
· Below 1.5V
· 1.5V-3V
· Above 3V
· Others
· *Material** Outlook (Revenue, USD Million; 2019–2032)*
· Graphene-based Stretchable Batteries
· Carbon Nanotube-based Stretchable Batteries
· Elastic Polymer-based Stretchable Batteries
· Others
· *Capacity** Outlook (Revenue, USD Million; 2019–2032)*
· Below 10 mAh
· Between 10 mA and 100 mAh
· Above 100 mAh
· Others
· *Application** Outlook (Revenue, USD Million; 2019–2032)*
· Wearable Electronics
· Smartwatches
· Fitness Trackers
· Medical Devices
· Smart Clothing
· Flexible Displays
· Healthcare Devices
· Electronic Skin Patches
· Others
· *End-Use Outlook (Revenue, USD Million; 2019–2032)*
· Consumer Electronics
· Healthcare
· Textile & Apparel
· Automotive
· Aerospace & Defense
· Others
· *Regional Outlook (Revenue, USD Million; 2019–2032)*
· North America
· U.S.
· Canada
· Mexico
· Europe
· Germany
· U.K.
· France
· Spain
· BENELUX
· Rest of Europe
· Asia Pacific
· China
· India
· Japan
· South Korea
· Rest of APAC
· Latin America
· Brazil
· Rest of LATAM
· Middle East & Africa
· Saudi Arabia
· UAE
· Israel
· Rest of MEA
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