Graphene is a two-dimensional carbon material with exceptional properties like high conductivity, mechanical strength and flexibility that makes it suitable for developing advanced energy storage solutions. Graphene-based materials have emerged as promising electrode materials for developing supercapacitors with high energy density. Supercapacitors or ultracapacitors store electrical charge electrostatically and have a higher power density compared to lithium-ion batteries. Graphene-based supercapacitors offer larger surface area, shorter ion diffusion pathways and better electrical conductivity resulting in faster charge-discharge rates and longer lifecycles. These properties make them ideal for applications requiring rapid charge-discharge cycles 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 Supercapacitors Market are Samsung, Bourns, Panasonic, NEC TOKIN, Nesscap, Maxell, AVX, ELNA, Korchip, Nippon Chemi-Con, Ioxus, LS Mtron, Nichicon, VinaTech, Samwha.
The growing demand for portable electronic devices and electric vehicles is driving the demand for supercapacitors with high energy density. Graphene-based electrodes allow manufacturing of compact supercapacitors suitable for these applications.
Leading manufacturers are actively pursuing research and development activities and collaborating with academic institutions globally to commercialize graphene-based supercapacitors. They are also setting up manufacturing facilities worldwide to cater to the growing demand and benefit from incentives offered by governments to promote renewable energy and clean transportation technologies.
Market Drivers
The primary market driver for graphene-based supercapacitors is the increasing demand for advanced energy storage solutions from various end-use industries. Graphene offers higher power density compared to lithium-ion batteries and longer lifecycles than conventional capacitors. Its excellent electrical conductivity and large surface area enables building compact supercapacitors meeting demanding performance requirements of portable electronics, electric vehicles and other industrial applications.
Additionally, government regulations promoting usage of clean energy technologies and investment in energy storage research are encouraging manufacturers to develop graphene-based supercapacitors commercially. The market is expected to grow substantially during the forecast period aided by technological advances lowering production costs of graphene materials.
The current geopolitical instability across several regions is impacting the growth of the graphene-based supercapacitors market. The ongoing Russia-Ukraine conflict and sanctions on Russia have disrupted the supply chain and export of raw materials. Russia is a key supplier of graphene used in supercapacitor electrodes. The restrictions on trade with Russia have limited the material availability and pushed up costs. This is expected to negatively impact the market in the short-term.
On the other hand, countries are now focusing on developing local manufacturing and sourcing alternatives. The government incentives and investments in graphene research are expected to aid indigenous production. Moreover, the rising demand for compact energy storage in electric vehicles and consumer electronics will drive material innovation. Companies will need to explore new material sources and develop cost-effective production technologies to cater to this demand. Collaborations with academic institutions can help launch new graphene derivatives. Additionally, partnerships between global firms may allow sharing of resources and establishing local facilities across regions. This will help mitigate geopolitical risks and optimize supply networks in the long run.
In terms of value, the graphene-based supercapacitors market in Asia Pacific accounted for the largest share, where China played a major role. This can be attributed to the availability of raw materials, government policies supporting graphene R&D, and presence of leading supercapacitor manufacturers in the region. Europe was the second major regional market due to focus on clean energy initiatives and EV adoption. However, North America is projected to grow at the fastest pace during the forecast period. This is ascribed to rising demand for energy-efficient electronics, electric vehicles, and energy storage systems in the US and copyright. Government incentives for unconventional energy technologies will supplement regional market growth. Additionally, private investments in graphene commercialization are enhancing North American manufacturing capabilities.
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