Inkwood Research anticipates that the global graphene battery market will reach $286.37 million by 2026, growing at a CAGR of 28.17% during the forecast period, 2022-2026.

In graphene batteries, graphene, a one atom thick allotrope of carbon, is used as electrode material. Graphene as electrode material can be used in various type of conventional batteries such as lithium batteries, lead batteries, lithium-sulfur, etc. The technology is still in its development stage, and many companies are trying to make the production process cheap. However, due to the lower charging times and increased efficiency, graphene batteries are expected to show growth trends a few years down the line.

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Key market growth drivers of the global graphene battery market are:

• Demand from electric vehicles
  • Electric vehicles have been showing promising growth trends for a few years.
  • Many countries, especially European countries, have strict environmental regulations and lucrative incentives for electric vehicles, thereby pushing the adoption of EVs.
  • High-performance batteries are an important component of electric vehicles.
  • As graphene-based batteries have reduced charging time and increased range, the increasing adoption of electric vehicle sales becomes the main driver of market growth.
• Need for better battery performance in electronic industry
• Growing investments in R&D

Key factors restraining market growth are:

• Low awareness
• High cost
  • Although the graphene prices have been reduced since the inception of the product in 2004, it still remains expensive. This makes the cost of various applications, such as batteries, too expensive for commercial sales, further restraining market growth.

The report scope of the global graphene battery market covers the segmentation analysis of battery type and end user.

Market by Battery Type:

• Li-ion batteries
  • Li-ion batteries are the major battery type in the global graphene battery market.
  • Li-ion batteries have unique advantages over conventional batteries, such as high energy density, low maintenance, and low self-discharge.
  • Numerous graphene manufacturers have focused on research & development activities for developing high quality graphene (single to few-layered), which is used as electrode material in graphene Li-ion battery.
  • Graphene electrodes increase the battery’s capacity and prolong the life of batteries.
• Li-sulfur batteries
• Supercapacitors
• Lead-Acid batteries

Geographically, the global graphene battery market has been segmented on the basis of four major regions, which includes:

• North America: The United States and Canada
  • North America is projected to witness an increase in graphene battery demand, primarily driven by the expansion of the automotive market and rising electric vehicle sales.
  • The rise in environmental consciousness in the North American automotive market has increased electric vehicle sales that utilize fuel-efficient and eco-friendly graphene-based batteries.
  • Major graphene manufacturing companies collaborate with electric vehicle manufacturing companies to develop silicon–graphene anode materials for automotive Li-ion battery cells.
• Europe: United Kingdom, Germany, France, Spain, and Rest of Europe
• Asia Pacific: China, Japan, India, South Korea, Australia & New Zealand, and Rest of Asia Pacific
• Rest of World: Latin America and the Middle East & Africa

The major players in the global graphene battery market are:

• Nanoxplore Inc
• XG Sciences Inc
• Nanograf Technologies
• Graphenano Group
• Others

Key strategies adopted by some of these companies:

In January 2020, Cabot China Limited, acquired Shenzhen Sanshun Nano New Materials Co Ltd, for approximately $115 million. In July 2020, NanoGraf received $1.65 million in funding to enhance the batteries in soldier’s equipment from the United States Department of Defense. In October 2020, Zen Graphene Solutions Ltd made a research collaboration agreement with the Deutsches Zentrum für Luft- und Raumfahrt.

Key findings of the global graphene battery market:

• There is an increase in the adoption of non-conventional energy resources.
• Energy storage is driving the search for novel nanomaterials.
• There is an increase in graphene producers.
• Graphene batteries are beneficial in the smartphone industry.

Frequently Asked Questions & Answers (FAQs):

• What country leads in the graphene battery market?

A: The United States leads in the graphene battery market.

• Which is the leading battery type in the graphene battery market?

A: Supercapacitors is the leading battery type in the graphene battery market.

• Which region is set to project the fastest growth during the forecast period?

A: The Asia Pacific region is set to project the fastest growth during the forecast period.

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