Asia Pacific Registers the Highest Growth Rate in the Supercapacitor Materials Market
The supercapacitor materials market is expected to witness a CAGR of 19.3% to reach $2.2 billion by 2023
Bangalore, India, April 23, 2018: With its recently published study “Supercapacitor Materials Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023”, Infoholic Research forecasts that the global market for supercapacitor materials will continue to grow in the Asia Pacific region owing to decreasing prices and setting up of supercapacitor manufacturing plants in the region. Supercapacitors use highly advanced materials that can store high power density for energy requirements. The increasing shift of demand from conventional to renewable sources of energy is driving the supercapacitor materials market.
Supercapacitor materials are useful in transportation, consumer electronics, and industrial applications, such as wind turbines for power requirements due to their unique ability to provide instantaneous surge power requirements. The increased usage of upcoming materials, such as graphene and carbon nanotubes, for high performance solutions in the transportation and industry will steer the market growth in developing countries. This trend is expected to continue during the forecast period 2017–2023, fueling the supercapacitor materials market growth at a CAGR of 19.3% to reach $2.2 billion by 2023.
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Asia Pacific dominates the supercapacitor materials market, followed by Europe and North America. The large population base and increasing demand for energy requirements with improved economic conditions are the key contributors that will make Asia Pacific experience a robust growth during the forecast period. With the upcoming factories for graphene supercapacitors in Europe, the consumption of advanced carbon-derived materials is expected to rise during the forecast period. The market in developing nations, i.e., China and South Korea, is expected to witness a higher penetration rate, thereby boosting the supercapacitor materials market revenues.
The activated carbon segment has a significant market share by value in the supercapacitor materials market. The next significant share of the supercapacitor materials market is held by metal oxides, which are primary materials for making Pseudocapacitors and Hybrid supercapacitors. Carbon derivatives are the new advanced category of materials, which hold a comparatively smaller market share. However, their adoption is expected to increase exponentially over the years, consequently generating much higher revenues for the overall supercapacitor materials market.
“Supercapacitor materials are advanced materials that fulfill the requirements of next-generation energy storage devices. These materials are mainly used in supercapacitor devices that are primarily used in transportation and industrial sectors. Supercapacitor materials have increasingly become popular in the energy storage device industry. But, the high cost of materials and their scaleup from laboratories to mass generation are the key factors restricting the growth. The growth factor in Asia Pacific is high due to the easy procurement of raw materials within the region.” – Satya Shiwani, Senior Research Analyst, Infoholic Research
Buy complete report on Supercapacitor Materials Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023
Key insights of the report:
- Major Types:
- Activated Carbon
- Carbon Derivatives
- Metal Oxides
- Conductive Polymers
- Key End-users:
- Consumer Electronics
- Industry outlook: Market trends, drivers, restraints, and opportunities
About Infoholic Research
Infoholic Research is a global market research and consulting organization providing strategic and high-level market intelligence in emerging and niche technologies. Founded in 2014, we are headquartered in India with an office in the US and with consultants working across the globe. Our market analysis powered by rigorous methodology and quality metrics provides information and forecast across all the emerging markets, technologies and business models. We aim at delivering high-quality results to our clients providing them with in-depth industry insights to identify new business opportunities and nurture their business strategies. For more information, please visit www.infoholicresearch.com