Lithium polymer portable battery is rechargeable and makes use of polymer electrolyte rather than liquid electrolyte. This portable battery is a miniature form of lithium polymer battery which provides the advantage to consumer electronics manufacturers of being able to produce miniature electronic devices. On account of the increasing demand for miniature devices, the lithium polymer portable battery market is expected to grow at a rapid pace. During the period from 2017 to 2025 it is expected that the Lithium polymer portable battery market will expand robustly on account of the heightened demand for consumer electronics such as power banks, smartphones, wearable devices, portable media players, and others.Global Lithium Polymer Portable Battery Market: Drivers and Restraints
The global lithium polymer portable battery market is projected to experience continuous growth on account of the rising penetration of Internet of things and thus the demand for IoT devices. Manufacturers have the freedom to shape Lithium polymer portable battery the way they wish and this is boosting the uptake of this battery. Since battery can be shaped in any way manufacturers have an increased flexibility to design mobile devices. On account of the various sizes, shapes, and amperages, Lithium polymer portable battery is compatible or can be used with any device. Another factor which is working in the favor of lithium polymer portable battery and driving its adoption is the fact that it is highly resistant to overcharge. Moreover there is reduced risk of electrolyte leakage from lithium-polymer portable battery which in turn is accelerating the growth of this market.
One of the key factors which are acting as a challenge is the high initial cost of lithium polymer portable battery. Apart from the high initial investment required, these batteries require expensive machinery. This also increases the manufacturing cost.
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Global Lithium-Polymer Portable Battery Market: Regional Outlook
On the basis of Geography, the Global lithium-polymer portable battery market is segmented into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. In the year 2016, North America emerged as the leading regional market for lithium polymer portable battery. Continuous research and development as well as the presence of a high number of market players are driving the Lithium polymer portable battery market in North America especially in the US. Asia Pacific is also anticipated to witness high growth during the period from 2017 to 2025.
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Prominent players within the market for global lithium polymer portable battery include Panasonic (Japan), LiPol Battery Co., Ltd (China), LG Chem (South Korea), Celgard LLC (The United States), and DuPont (The United States).
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