Graphene battery market forecast to grow to $116.503 million by 2021
The graphene battery market is forecast to grow from $28.549 million in 2015 to $116.503 million by 2021, according to the “Graphene Battery Market – Forecasts from 2016 to 2021” report.
Graphene is an incredibly light yet immensely tough material – it is two hundred times stronger than steel. It is arranged in a tightly-packed layer of carbon atoms that are bonded together in a hexagonal honey comb lattice.
Over recent years graphene has become a popular material in supercapacitors and battery construction.
The material can be used to create batteries with increased electrode density and faster cycle times, offering better performance and life cycle benefits compared to conventional metal-ion batteries.
Unlike traditional batteries, which have cathodes of purely solid-state materials, graphene batteries use a composite-a hybrid material containing a solid-state metallic material and graphene is used as the cathode.
Graphene batteries are used in many industrial applications and the need to switch to non-conventional energy sources has helped fuel demand.
However, the report notes that a lack of knowledge regarding its technological potential and fabricating large quantities of graphene at an affordable price is hampering market growth.
The main regions that will drive the global market of graphene batteries over forecasted period are are North America and Asia Pacific.
Source: “Graphene Battery Market – Forecasts from 2016 to 2021”, Knowledge Sourcing Intelligence LLP – January 2017