Primary Battery Market to Reach USD 2.7 Bn by 2031, Growing at 6.3 % CAGR from USD 1.9 Bn in 2022 - Transparency Market Research, Inc.

The global primary battery market was valued at US$ 1.9 Bn in 2022 and is projected to grow at a CAGR of 6.3% from 2023 to 2031, reaching an estimated US$ 2.7 Bn by 2031. The market growth is driven by increasing demand for portable electronics, energy harvesting applications, and the rise in adoption of wearable IoT devices.

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Analysts' Viewpoint

The demand for primary batteries is on the rise, primarily fueled by the rapid growth in the wearable and IoT-based electronics sector. Advancements in battery chemistry and the emergence of innovative printed batteries are providing attractive alternatives to traditional primary battery technologies. Although primary batteries remain non-rechargeable, their applications in active RFID systems, temperature tags, and various consumer electronics have solidified their position in the market. Furthermore, key players are focusing on developing advanced materials and recycling strategies to mitigate the environmental impact associated with mercury-based processes used in some primary batteries.

Market Introduction

Primary batteries are non-rechargeable power sources commonly used in small electronic devices. The market is segmented into two main types:

Zinc Manganese Oxide Printed Batteries (typically with capacities up to 10 mAh)
Coin and AAA Cell Batteries (especially for active RFID applications)
Printed batteries, which are developed through innovative printing techniques, offer the advantages of thinness, flexibility, and integration into emerging miniaturized devices. Meanwhile, conventional coin and AAA cell batteries remain widely used due to their low cost, ease of integration, and established supply chains.

Key Market Drivers

Increase in Demand for Portable Electronics
Consumer Electronics Growth: The proliferation of smartphones, tablets, wearables, and IoT devices is intensifying the need for compact, reliable power sources.

Miniaturization Trends: The development of smaller and more energy-efficient devices continues to drive the market for both coin cell and printed batteries.
Rise in Demand for Energy Harvesting

Self-powered Devices: Energy harvesting technologies enable devices to capture ambient energy (e.g., light, thermal, vibrational) and use it to power sensors, reducing dependency on frequent battery replacements.

Sustainability Focus: Eco-friendly printed batteries, manufactured using alternative materials, contribute to reducing electronic waste and supporting sustainable energy practices.

Recycling and Environmental Considerations

Sustainable Manufacturing: With mercury usage in some primary batteries posing environmental challenges, manufacturers are focusing on developing recycling programs and greener production techniques.

Regulatory Pressure: Stringent environmental regulations are prompting manufacturers to adopt sustainable practices and innovate cleaner battery chemistries.

Regional Analysis

Asia Pacific:

Asia Pacific is the most lucrative region, accounting for nearly 40% of the global market share in 2022. Rapid industrialization, high population density, and a robust consumer electronics market in countries like China, India, and Southeast Asian nations drive this segment.

Europe:
Europe's mature markets and strong regulatory environment favoring sustainable technologies provide a stable demand for primary batteries, particularly in the active RFID and energy harvesting applications.

North America:

North America is also expected to experience steady growth, supported by increasing investments in technological innovations and the expansion of the IoT and wearable device sectors.

Latin America & Middle East & Africa:

These regions, although smaller in market share, are witnessing gradual improvements in infrastructure and increased adoption of portable electronics, contributing to moderate growth.

Analysis of Key Players

The global primary battery market is highly consolidated, with several large-scale vendors leading the field. Prominent players are investing significantly in R&D to develop innovative battery chemistries and printed battery solutions.

Key market participants include:

Enfucell
BlueSpark
Imprint Energy
Panasonic
Energizer
Duracell
Maxell
Sony
Varta Micro

These companies are focusing on expanding their product portfolios through strategic collaborations, mergers and acquisitions, and continual investments in research to enhance battery performance and sustainability.

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Key Developments

February 2022: Zeon Corporation acquired Aurora Microplates, enhancing its portfolio for high-performance microplates that support advanced primary battery research and diagnostics.

June 2021: VARTA AG inaugurated a new lithium-ion cell factory at its Nördlingen site in Bavaria, aimed at increasing production capacity for small lithium-based cells used in premium consumer applications, thereby complementing their broader battery solutions.

Market Segmentation

By Type:

Zinc Manganese Oxide Printed Battery (Up to 10 mAh)
Coin and AAA Cell Battery (For Active RFID)

By Application:

Temperature Tags
Active RFID Tags (Disposable, Beaconing, Transponding, Hybrid, Battery Assisted Passive (BAP), Real-time Location Systems (RTLS))
Internet of Things (IoT)
Skin Patch
Others

By End-use:

Consumer Electronics
Industrial
Other applications

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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