Graphene Battery Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $115 million by 2022, registering a CAGR of 38.4% during the period 2014-2022. The automotive industry is estimated to dominate the market throughout the analysis period. Geographically, Europe is expected to be the leading market in 2016, with a revenue contribution of around 38%.

Portland, OR -- (SBWire) -- 09/28/2017 --The fundamental properties of Graphene make it a promising material for a multitude of applications. Graphene has accumulated great interest for supercapacitors and batteries because of its very high surface area. Graphene market is small but fast growing and the key companies will be collaborating with other companies, mainly battery manufactures and integrators, to compete in the market. Graphene finds its main application in automotive, electronics, aerospace & defense and industrial robotics. Graphene based batteries have a potential future as Graphene electrodes will find application in the progress of other battery chemistries. For example, an aluminum-ion battery was recently developed that can be fully charged in under one minute because of the ultrafast ion intercalation into 3D Graphene foams.

The Global Graphene Battery Market size is projected to reach $115 million by 2022, growing at a CAGR of 38.4% during the forecast period (2016-2022). Graphene has the potential to be widely used in the field of physics, chemistry, information, energy, and device manufacturing. It is a thin, mechanically strong, transparent, and flexible conductor. Its conductivity can be modified over a large range of values either by chemical doping or by application of an external electric field. Graphene batteries are the new trend in the field of energy storage solution for various industry verticals. Graphene-based batteries consist of graphene as the electrode material for different battery types such as lithium ion, lead acid, and lithium sulphur. Graphene electrode material, such as few layered graphene and nano platelets graphene, enables the dramatic improvement of portable electronics and electric vehicles by providing better means for storing electricity.

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The fundamental properties of graphene result in it being utilized for multitude of applications. Graphene has gained popularity for supercapacitors and batteries owing to its high surface area. Adoption of graphene-based batteries is expected to be high in the future because graphene electrodes will find application in the progress of other battery chemistries. For example, an aluminum-ion battery was recently developed that can be fully charged in less than a minute owing to the ultrafast ion intercalation into 3D graphene foams.

Rapid increase in the sale of electric vehicles globally and the booming portable electronics market creates strong growth potential for graphene-based batteries. Industries such as automobile, portable electronics, and energy are the early adopters of this technology, and are investing to develop a better energy storage solution for their respective energy storage demand. However, graphene has few limitations to be used in energy storage solution as it is important to know the energy density of a completely packaged cell and not just the capacitance of the active material.

The graphene battery market is driven by the benefits of quick charging capacity, increased charge cycles, effectiveness in high temperatures, and extended duration to hold charge. The rising number of prospective application areas for graphene batteries, coupled with their increasing adoption in automotive industry, is expected to boost the market growth. However, lack of awareness about the technological potential and high cost of graphene electrode material are the limitations that would restrict the market growth.

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Graphene is an excellent substrate for anchoring lithium battery anode and cathode materials to generate high energy & density, flexible, stretchable, quick charging, and long-lasting batteries. The lithium-ion batteries segment would account for over 70% of the overall market revenue in 2016, as these would be the most suited graphene-based batteries for electric vehicles, industrial robots, and portable electronics. In addition, lithium-sulphur batteries are projected to grow at a CAGR of 34.7% during the forecast period. The growth would be driven by the growing demand for lightweight and long-lasting batteries with reduced decay during charge cycles.

Among the various user industries, automotive industry is projected to maintain its lead throughout the analysis period, due to rise in sales of electric vehicles and new technology adoption for vehicles starter batteries. The booming electric vehicle market driven by strict emission standards, reduction in battery prices, government initiatives and increasing consumer awareness would significantly drive the graphene battery market. The projected increasing demand of graphene-based lithium-ion batteries for electric vehicles in the developed economies of North America and Europe as well developing countries such as China would boost the market growth.