The global graphene battery market is valued at US$ 140.7 million in 2023 and is predicted to boom at a CAGR of 31% from 2023 to 2033.
Graphene is a great material for high-capacity energy storage, due to its superconductivity, lightweight, high flexibility, and large surface area. Also, due to its characteristics such as increased charge cycles, efficacy in high temperatures, quick charging capacity, and extended duration to hold a charge, graphene-based batteries are predicted to become more popular during the forecast period.
The structure of the graphene battery is comparable to that of a traditional battery in which ion transfer is aided by an electrolyte solution and two electrodes. The makeup of either or both of the electrodes is the primary distinction between solid-state batteries and graphene batteries. Although the anode may also use carbon allotropes, the cathode of a graphene battery is where the majority of the shift occurs.
Automotive li-ion batteries driven by graphene are being researched by graphene and electric automobile manufacturers. It is anticipated that the use of graphene batteries in automobile vehicles will provide remarkable storage capacity, quick charging, and high durability.
The design of graphene-based electric vehicle batteries is a versatile technological solution that can meet various demands for voltages, capacities, and Ampere cycles. The adverse memory effect, which occurs when a battery is charged repeatedly and reduces its maximum energy potential, is also not present in graphene.
Maximum recharging speed and effective batteries are anticipated to be provided by the use of graphene batteries in portable electronic devices. A limited number of recharge cycles are permitted by standard li-ion batteries before the battery starts to deteriorate and loses its usefulness.
Regarding charging and discharging cycles, graphene battery technology gets beyond this restriction. As a result of these benefits over traditional batteries, graphene batteries are predicted to become increasingly popular in electronic devices such as smartphones, wearables, laptops, and more over the coming years.
Key Takeaways from Market Study
- Sales of graphene batteries are expected to reach US$ 2 billion by 2033.
- Germany holds a leading position in the Europe graphene battery market due to the presence of key market players.
- Rapidly developing automobile sector in China is driving high demand for graphene batteries.
- The United States market is expanding rapidly due to high demand from well-established aerospace & defense facilities.
“Key manufacturers of graphene batteries are investing heavily in R&D activities to reduce manufacturing costs,” says a Fact.MR analyst.
Recent Market Developments
- The new graphene battery by Nanotech Energy, which can charge 18 times faster compared to other batteries on the market, was introduced at CES Unveiled in January 2022. By the fourth quarter of 2022, a new plant in Nevada was estimated to start producing graphene technology batteries.
- In April 2021, Graphene Manufacturing Group Ltd. announced a research partnership with the Australian Institute for Bioengineering and Nanotechnology at the University of Queensland to produce commercial prototypes of graphene aluminum-ion batteries with an exclusive licence for grid storage, phones, watches, laptops and electric vehicles.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global graphene battery market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on type (lithium-ion batteries, lithium-sulphur batteries, graphene supercapacitors, lead-acid batteries) and application (consumer electronics, automotive, industrial robotics, energy, aerospace & defense, marine, healthcare), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
These insights are based on a report on Graphene Battery Market by Fact.MR.