Graphene Battery Market: Introduction
- Graphene is a sheet of carbon atoms tied up together in a honeycomb pattern. Graphene sheet is extensively used, as it is a good conductor of electrical and thermal energy.
- Research and development activities are being carried out extensively to develop advanced batteries. Graphene batteries are emerging as prominent substitute to traditional batteries. The cathode used in traditional batteries is composed of a solid-state material, while cathode used in graphene batteries is made of graphene and hybrid material, which contains solid-state metallic. This makes graphene batteries durable, lightweight, and ideal for applications that require high-energy storage and shorter charging time.
- Companies across the globe are now investing in advancement of graphene batteries due to their tremendous potential to be employed in various industries
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Key Drivers and Restraints of Global Graphene Battery Market
- Rapid industrialization and expansion of manufacturing industries across the globe is estimated to drive the global graphene battery market. Graphene batteries offer benefits such as quick charging, increased charge cycles, and high temperature tolerance, which enhances the application areas of graphene batteries.
- Growth of aerospace, defense, healthcare, energy, and electronics sectors across the globe is anticipated to boost the global graphene battery market. Graphene is chemically inert, lightweight, flexible, and eco-friendly. These properties are expected to fuel its adoption in various industries, thereby propelling the global graphene battery market growth during the forecast period.
- Increase in environmental awareness is also likely to drive the global graphene battery market during the forecast period. There has been a rise in demand for battery-operated vehicles is the past few years. This trend is projected to continue during the forecast period.
- High cost of graphene electrode material is a major restraining factor for the growth of the global graphene battery market
- Another restraining factor is lack of infrastructure and awareness about its technological potential
Global Graphene Battery Market: Segmentation
- The global graphene battery market can be segmented on the basis of type and end-user
- In terms of type, the graphene battery market can be segmented into super capacitor, li-ion battery, lead-acid battery, and li-sulfur battery. Li-ion is expected to remain a prominent segment during the forecast period, owing to its increase in demand across industries.
- Based on end-user, the graphene battery market can be divided into automobile, aerospace, defense, energy, electronics, and others. The automobile segment is expected to grow at a significant CAGR during the forecast period due to high demand for battery-operated vehicles. Moreover, in the past few years, there has been an increase in awareness about environmental issues, and stringent government rules and regulation have driven companies to adopt new environment-friendly technologies. This factor is expected to augment the global graphene battery market.
Asia Pacific to Dominate Global Graphene Battery Market
- In terms of region, the global graphene battery market can be classified into: North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Asia Pacific is expected to dominate the global graphene battery market during the forecast period. Rapid industrialization in developing countries, such as China, India, Indonesia, and Taiwan has witnessed significant increase in demand for graphene batteries.
- In 2018, China dominated the Asia Pacific graphene battery market. It is expected to continue its dominance during the forecast period, owing to the expansion of the automobile industry in the country.
- The graphene battery market in North America is projected to expand significantly during the forecast period due to rapid rise in infrastructure and industrialization in the U.S. and Canada. The U.S. is a major player in automobile, military, and aerospace manufacturing sectors globally. The country is estimated to dominate the market in the region.
- The Europe graphene battery market is anticipated to expand significantly during the forecast period due to high adoption of battery-operated vehicles in the region.
- The graphene battery market in Latina America and Middle East & Africa is estimated to expand at a significant CAGR during the forecast period, owing to rapid industrial development.
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- In April 2018, Hybrid Kinetic Group launched three luxury sedan and SUV cars equipped with clean and efficient range extender and graphene super batteries at the Beijing Motor Show
- In November 2017, Samsung developed a graphene ball, which will increase the battery capacity by 45% and charge five-times faster. These batteries will also maintain a temperature of 60 °C. This temperature is required by batteries to operate effectively in cars.
Key Players Operating in Global Market:
- Hybrid Kinetic Group
- Log 9 Materials
- Huawei Technologies Co., Ltd
- Vorbeck Materials
- Global Graphene Group
- Grupo Graphenano
- Nanotech Energy