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A graphene battery is a more eco-friendly and sustainable energy source than a conventional battery. It is light, durable, and has high energy storage capacity. Other batteries like Li-ion batteries can be potentially improved by using graphene as an anode. It will improve battery conductivity result in faster charging and longer battery life.
In the era of advancements, the electronic segment is no behind to adopt the rapid changes in the industry—especially in portable electronics. Portable electronics like wearable devices, implantable medical devices, roll-up displays require a power source that has high electrical conductivity resulting in fast charging speed and long battery life.
Graphene is a lightweight and flexible conductor with high energy storage capacity as compared with other conductors and has been commercialized in recent years as one of the fastest energy storage solutions. Graphene supercapacitor is highly preferable by portable electronic manufacturers. Furthermore, ongoing research and development will effectively drive the industry share. For instance, Graphene Stakeholder Association (GSA) is working with Nanotechnology Technical Committee and International Organization for Standardization (ISO) to introduce user-friendly and efficient products, this will boost the graphene battery market gradually.
Graphene battery technology is expected to bring a revolutionary change in the upcoming years. Li-ion graphene battery has a wide potential in various markets like consumer electronics, automotive, power, healthcare, and many others. With the rising demand for battery-operated products, manufacturers are more interested in thin, lightweight, and ultrafast charging batteries. Li-ion graphene battery is considered a promising technology in terms of safety, performance, and environmental friendliness and has exciting potential in near future.
The electric vehicle (EV) industry has shown significant growth in recent years. Manufacturers are constantly looking for advanced technology that can be beneficial for electric vehicles. A graphene battery has up to 5 times faster-charging speed than a Li-ion battery and has a highly stable temperature range. Graphene battery can provide a longer range and long battery life to the electric vehicle. With the growth in demand for EVs, the graphene battery has the potential to grow significantly in near future. For instance, Tesla is working on introducing Graphene batteries in their Model S cars that can double the range to 500 miles.
Europe is the largest manufacturer of graphene and holds the largest share of the graphene battery market. Asia Pacific has the potential to drive the graphene battery market at the highest CAGR, owing to rising awareness related to the benefits of using non-conventional energy sources. Countries like China and Japan are more focused on reducing CO2 emissions. In recent years, the number of EV sales has increased significantly in Asia-Pacific. North America's graphene battery market has also shown a significant rise owing to rising awareness and government participation in promoting low emission energy sources.
Some of the key players like Cabot Corporation, Cambridge Nanosystems, Graphenano, Graphene NonoChem, Graphene 3D Lab, Group NanoXplore, Hybrid Kinetic Group Ltd., SiNode Systems, and XG Sciences among others are constantly looking for innovations in the graphene battery. Companies are focusing on growth strategies like acquisitions and collaborations to provide more economic and technologically advanced products.