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. Graphene-based supercapacitors market is expected to witness significant growth due to the increasing demand for high-performance energy storage devices across various end-use industries.

Market Driver - High Demand for Energy Storage Solutions in Electronics and EVs

The increasing demand for portable electronic devices and electric vehicles has been fueling the need for better energy storage solutions. However, batteries have limitations in terms of charging time and number of charging cycles before capacity degradation. This has reinforced the need to develop alternative energy storage mediums that can charge devices rapidly and sustain high power levels for thousands of charge-discharge cycles.

Graphene-based supercapacitors have emerged as a promising solution owing to their ability to charge and discharge within seconds. Moreover, graphene-based supercapacitors are safer and more durable than lithium-ion batteries as they do not use potentially explosive liquid electrolytes.

Electric vehicles are another key area driving the demand for advanced energy storage systems. Rapid acceleration and ability to charge EVs quickly are critical for consumer acceptance. Graphene-based supercapacitors show promise in helping address two major pain points of EVs - short driving range between charges and long charging times. This is expected to drive growth of the graphene-based supercapacitors market.

Market Driver - Increasing R&D Activities in Graphene-based Supercapacitors Market

Graphene has been a material of extensive research interest over the past decade owing to its exceptional electrical and mechanical properties. However, leveraging these properties to build practical energy storage devices requires extensive investigation at the laboratory level. Today, numerous university labs and corporate R&D divisions across the world are actively working on new techniques for developing novel electrode architectures.

Notable areas of ongoing R&D in graphene-based supercapacitors include increasing energy density levels closer to lithium-ion batteries. Scientists are experimenting with composite graphene materials, 3D porous structures and electrolytes to enhance capacitance. Likewise, improving power density, operating voltage and cycling lifespan through electrode and cell design optimization is a priority.

Overall, increasing R&D efforts seem certain to drive faster technology maturation and commercialization of next-gen graphene-based supercapacitors.

Market Challenge - High Production Costs for Graphene

One of the major challenges currently faced by the graphene-based supercapacitors market is the high production costs associated with graphene. Graphene has excellent electrical and thermal conductive properties which make it very suitable for applications in supercapacitors. However, the production of graphene at an industrial scale remains a challenge.

Currently, most graphene is produced through an energy-intensive process called chemical vapor deposition which deposits graphene layer-by-layer onto a substrate like copper or silicon carbide. The cost of equipment required for chemical vapor deposition and the intricate processes involved drive up the costs associated with graphene production.

Additionally, the low sample yields from chemical vapor deposition further contribute to higher per-unit costs. Market players will need to focus on developing lower cost and higher throughput production techniques to make graphene-based supercapacitors economically viable.

Market Opportunity - Expansion in the Electric Vehicle Industry

One of the major opportunities for the graphene-based supercapacitors market is the expanding electric vehicle industry. With stringent regulations and policies being imposed worldwide to curb vehicular emissions and push for greater adoption of electric vehicles, the electric vehicle market is expected to grow substantially in the coming years.

Graphene-based supercapacitors offer higher power densities and cycling stability compared to conventional capacitors and lithium-ion batteries. Their ability to charge and discharge rapidly makes them ideally suitable for energy recuperation and storage applications in electric vehicles.

As the electric vehicle market expands globally driven by factors like sustainability, graphene supercapacitor manufacturers stand to significantly benefit given their technological superiority. Leveraging the exponential electric vehicle growth can help accelerate the commercialization and market penetration of graphene-based supercapacitors.

Research and Development: R&D is one of the most important strategies adopted by players to gain an edge in this emerging market. For example, GrapheneX, a leading UK-based graphene company, invested over $5 million in R&D between 2015-2018 to develop new graphene materials tailored for supercapacitor applications. This helped them launch the first commercial graphene-based supercapacitors in 2019.

Strategic Partnerships and Collaborations: Players are forming strategic partnerships with material developers, manufacturers and end-users to derisk technological challenges and facilitate adoption.

Business Model Innovation: Some players have differentiated their business models to gain an early mover advantage. For example, NanoGraf Coatings switched to a 'Materials as a Service' model in 2020, licensing their patented graphene inks and coatings to OEMs instead of selling final products. This enabled faster scale-up.

Insights, By Type: Electrical Double-layer Capacitors Witness Widespread Applications and Technical Superiority

The graphene-based supercapacitors market by type is currently dominated by electrical double-layer capacitors (EDLCs) with 40.7% market share. EDLCs contribute the highest share due to their unique properties that make them highly suitable for a wide variety of applications.

EDLCs store electrical charges at the interface between an electrode and electrolyte through non-Faradaic surface adsorption/desorption of ions. This allows them to rapidly charge and discharge efficiently through billions of cycles with very low equivalent series resistance (ESR). Their non-Faradaic charge storage mechanism also gives them an exceptional ability to deliver extremely high-power density over short durations.

Additionally, graphene's high surface area, exceptional conductivity, and chemical stability make it highly beneficial for EDLC electrodes. Graphene-based EDLC electrodes are able to achieve very high specific capacitance values along with improved power densities. This has further enhanced EDLCs' technical superiority for high-power applications and boosted their market dominance over other capacitor technologies.

Insights, By Application: Solar Power Segment is Driven by the Need for Efficient Energy Storage

The graphene-based supercapacitors market by application is currently led by the solar power industry with 36.9% revenue share. There is growing demand for efficient and long-lasting energy storage solutions in solar power generation and distribution which is driving the higher market share of this segment.

The intermittent nature of solar energy necessitates robust energy storage systems that can take up fluctuating generation outputs and provide power on demand reliably around the clock. At the same time, the large-scale integration of solar farms onto national grids requires storage technologies to balance and stabilize power quality by smoothing out supply variability issues.

They also eliminate capacity fading issues of batteries through a non-Faradaic mechanism. This maintains a long, predictable working life essential for distributed solar systems with limited maintenance access. As energy policies increasingly mandate grid-scale renewable integration worldwide, graphene-based supercapacitors' technical leadership is driving accelerated adoption in the booming solar power segment in graphene-based supercapacitors market.

• The Asia Pacific region is projected to experience the highest growth rate in the graphene-based supercapacitors market, driven by rapid industrialization and supportive government initiatives promoting advanced energy storage technologies.
• The integration of graphene-based supercapacitors in renewable energy systems has significantly improved energy storage efficiency, aiding in grid stabilization and effective energy management.
• Graphene-based supercapacitors used as pressure sensors with rapid response in research at Imperial College London (2022).
• Flexible graphene-based supercapacitors retaining 99% performance after 10,000 cycles developed at Tsinghua University.

The major players operating in the graphene-based supercapacitors market include Angstron Materials, XG Sciences, Bluestone Global Tech, Applied Graphene Materials, Graphene Technologies, Graphene 3D Lab, Vorbeck Materials, Skeleton Technologies, Nanotech Energy, Angstron Materials, Maxwell Technologies (Tesla), and Global Graphene Group.

• In July 2024, Black Swan Graphene introduced GEM S27M, a graphene-enhanced masterbatch containing 10% graphene nanoplatelets (GNP) in high-density polyethylene (HDPE). This innovation aims to improve the mechanical properties of HDPE, such as increased strength and durability, making it particularly beneficial for packaging applications like plastic bottles and garbage bags.
• In June 2024, Gerdau Graphene introduced the G2D technology, a proprietary method for incorporating carbon nanomaterials, such as graphene, into various matrices for industrial additive production. This innovation enhances the performance of products in industries like plastics, concrete, and paints and coatings.
• In September 2023, Skeleton Technologies partnered with a major automotive manufacturer to supply graphene-based supercapacitors for electric vehicles. This collaboration enhances Skeleton Technologies' position in the automotive energy storage market and is expected to accelerate the adoption of graphene-based supercapacitors in the EV industry.
• In July 2023, Nanotech Energy inaugurated a new production facility for graphene-based supercapacitors in the United States. This expansion increases their manufacturing capacity, aiming to meet the growing demand for high-performance energy storage devices across various applications.

• By Type
  • Electrical Double-layer Capacitors
  • Faraday Quasi Capacitors
  • Hybrid Capacitors
• By Application
  • Solar Power
  • Consumer Electronics
  • Others