At 21.9% CAGR, Asia Pacific Thin film and Printed Battery Market is Projected to be Worth US$ 362.46 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific thin film and printed battery market was valued at US$ 74.15 million in 2023 and is expected to reach US$ 362.46 million by 2031, registering a CAGR of 21.9% from 2023 to 2031. Growing focus on sustainability and rising demand for wearable devices are among the critical factors attributed to drive the Asia Pacific thin film and printed battery market growth.

Sustainability encompasses environmental, social, and economic aspects of development and aims to create a more inclusive and resilient society. Moreover, there is growing awareness about the environmental impacts of conventional batteries, such as greenhouse gas emissions, resource depletion, waste generation, and pollution. Thus, the growing focus on sustainability can help minimize waste by being recyclable, biodegradable, or compostable. Regulatory and reporting standards for environmental, social, and governance (ESG) performance are also increasing. ESG refers to the criteria that measure an organization's sustainability and social impact. ESG investors and rating agencies are holding firms responsible for their ESG performance and are rewarding those that demonstrate leadership and innovation in sustainability. The thin film and printed batteries can help firms improve their ESG performance by reducing their carbon footprint, enhancing their energy efficiency, and supporting their social responsibility initiatives. Thus, the growing focus on sustainability fuels the Asia Pacific thin film and printed battery market.

On the contrary, the high cost of implementation hampers the growth of Asia Pacific thin film and printed battery market.

By voltage rating, the Asia Pacific thin film and printed battery market is segmented into below 1.5 V, 1.5-3 V, and above 3 V. The below 1.5 V segment held 38.5% share of Asia Pacific thin film and printed battery market share in 2023, amassing US$ 28.54 million. It is projected to garner US$ 130.86 million by 2031 to register 21.0% CAGR during 2023–2031.

In terms of chargeability, the Asia Pacific thin film and printed battery market is bifurcated into rechargeable and single-use. The rechargeable segment held 64.4% share of Asia Pacific thin film and printed battery market share in 2023, amassing US$ 47.73 million. It is projected to garner US$ 242.73 million by 2031 to register 22.5% CAGR during 2023–2031.

Based on application, the Asia Pacific thin film and printed battery market is consumer electronics, medical devices, smart packaging, smart cards, wireless sensors, and others. The consumer electronics segment held 34.7% share of Asia Pacific thin film and printed battery market share in 2023, amassing US$ 25.71 million. It is projected to garner US$ 127.77 million by 2031 to register 22.2% CAGR during 2023–2031.

Based on country, the Asia Pacific thin film and printed battery market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 27.6% share of Asia Pacific thin film and printed battery market in 2023. It was assessed at US$ 20.49 million in 2023 and is likely to hit US$ 106.49 million by 2031, registering a CAGR of 22.9% during 2023–2031.

Key players operating in the Asia Pacific thin film and printed battery market are Molex LLC, RENATA SA, Samsung SDI Co Ltd, STMicroelectronics NV, Ultralife Corp, and Varta AG, among others.

• In 2024: Nordic Semiconductor and Renata SA, a global manufacturer and supplier of battery solutions, have announced a partnership enabling customers to select Li-Poly batteries that have already been profiled to operate with the nPM1300 Power Management IC's (PMIC) highly accurate fuel gauge. This circumvents the battery profiling stage, saves design time at the product development stage, and accelerates time-to-market.

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