Graphene-based supercapacitors, also known as supercapacitors or ultracapacitors, are energy storage devices that utilize graphene as an electrode material. Due to its unique properties like high surface area, excellent conductivity and high electrochemical stability, graphene is used in the electrodes of supercapacitors to enhance their energy density and power density. Graphene-based supercapacitors have higher energy and power densities compared to conventional carbon-based supercapacitors. They find usage in applications requiring fast charging capabilities like hybrid vehicles, portable devices, backup power systems and renewable energy storage.
The graphene-based supercapacitors market is estimated to be valued at USD 244.6 Mn in 2024 and is expected to reach USD 1001.2 Mn by 2031, growing at a compound annual growth rate (CAGR) of 22.3% from 2024 to 2031.
Key Takeaways
Key players operating in the graphene-based supercapacitor market are Angstron Materials, Graphene Laboratories, Vorbeck Materials, XG Sciences, Graphenea and NanoXplore.
The Graphene-based Supercapacitors Market demand for graphene-based supercapacitors is increasing from the renewable energy storage industry owing to their higher power density and longer cycling times compared to lithium-ion batteries. They help boost the efficiency of energy generation from renewable sources like solar and wind.
Technological advancements like increasing the oxidation resistance and conductivity of graphene materials as well as developing high throughput and scalable production processes are further enhancing the performance of graphene-based supercapacitors.
Market Trends
One of the key trends in the graphene-based supercapacitor market is the increasing adoption of hybrid devices that combine the characteristics of batteries and supercapacitors. Called battery-supercapacitors or pseudocapacitors, they offer higher energy density than supercapacitors and higher power density than batteries.
Players are also focusing on flexible and wearable supercapacitor technologies using graphene. The flexible form factor allows these supercapacitors to be integrated into unconventional applications like wearable electronics, smart textiles and bendable/foldable devices.
Market Opportunities
Increasing investments in renewable energy generation, especially solar and wind, will boost the demand for efficient and reliable energy storage solutions like graphene-based supercapacitors for grid-scale storage applications.
Rapid expansion of the electric vehicle market also presents an major opportunity as graphene supercapacitors can replace lithium-ion batteries in applications requiring rapid charging abilities like regenerative braking systems in EVs.
Impact of COVID-19 on Graphene-based Supercap market growth
The outbreak of COVID-19 pandemic has significantly impacted the growth of the graphene-based supercap market globally. During the initial months of lockdown across various countries, the demand from end-use industries such as electronics and automotive experienced a steep decline owing to halted manufacturing operations. This negatively affected the sales revenue of graphene-based supercap manufacturers in 2020. However, with relaxation in restrictions and resumption of economic activities from third quarter of 2020, the market has witnessed a rebound. The increasing demand for reliable backup power solutions from data centers and healthcare sector aided the market recovery.
The work from home culture during the pandemic also drove the sales of consumer electronics like laptops and smartphones which use supercapacitors for backup power requirements. This presented growth opportunities for graphene-based supercap manufacturers. Looking ahead, increasing investments by governments and private organizations towards development of clean energy solutions and energy storage infrastructure is expected to drive the demand. Moreover, continuous R&D towards enhancing energy density and life cycle of these supercaps will help gain more acceptability across wider application areas post pandemic as well.
Geographical regions with concentration in graphene-based supercap market value
The graphene-based supercap market is majorly concentrated in Asia Pacific region in terms of value, with China and South Korea holding significant shares. This is owing to presence of leading graphene and supercapacitor manufacturers in these countries. The availability of raw materials, government funding for graphene R&D and low manufacturing costs have strengthened the market concentration in Asia Pacific region over years. Countries like Japan, India and Taiwan are also emerging as high potential markets for graphene-based supercaps with growing investments in renewable energy and energy storage sectors. North America and Western European regions have shown notable demand growth in recent years driven by increasing research in the field of energy storage.
Fastest growing region for graphene-based supercap market
North America region is poised to witness fastest growth in the graphene-based supercap market during the forecast period. This is attributed to strong government funding and private investments towards development of advanced energy storage solutions in the US. Moreover, growing installation of renewable energy generation capacity necessitates reliable energy storage infrastructure, thereby driving the regional market. States like California are taking initiatives to integrate supercapacitor technology across transportation and utility sectors to complement battery energy storage applications. The presence of global supercapacitor manufacturers and widespread R&D activities in the US and Canada will further support the graphene-based supercap market growth in the coming years in North America region.
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