Press Release: April 18, 2020
The materials used in supercapacitors energy devices are the advanced engineered materials used for supercapacitor energy storage devices. These unique types of materials increase the power density of the energy storage devices and may partially replace the battery options in another 5–10 years. The increased demand for electric vehicles and power generation from wind turbines need supercapacitors to be placed to optimize their power density requirements. The market according to the material type used is divided into activated charcoal, carbon derivatives, metal oxides, conductive polymers, and others. The main application areas of supercapacitor materials covered in the study are consumer electronics, industrial, and transportation sectors.
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The consumption of supercapacitor materials mostly comes from transportation and consumer electronics segments due to better adoption rate in the industry. Further, R&D in material enhancement for more power capacity effectiveness is expected to boost the growth in the next 5 years. Globally, the demand for supercapacitor materials is high in economically developing countries, whereas the developed regions are moving toward saturation.
The regional demand for supercapacitor materials is growing, especially in Asia Pacific and European regions. This growth is supported by the increasing awareness about sustainable power sources and high consumption of energy in these regions. Currently, Asia Pacific is the global leader in the supercapacitor materials market from the demand side. The European region has strict policies for the non-toxic materials consumption, providing the maximum usage of high-quality supercapacitor materials. From the supplier side, Asia Pacific is leading the market, followed by Europe. Developing and underdeveloped markets, such as Middle East, are also witnessing capital investments for R&D and product development of materials for supercapacitors, which is increasing the regional competition.
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The study of the supercapacitor materials market by Infoholic Research provides the market size information and market trends along with factors and parameters impacting it in both short- and long-term. The study ensures a 360° view, bringing out the key insights of the industry. These insights help the business decision-makers to formulate better business plans and take informed decisions for improved profitability. In addition, the study helps venture capitalists in understanding the companies better and take informed decisions. The key players in the supercapacitor materials market are BASF, Arkema, Hitachi Chemicals, etc.
According to Infoholic Research, the global supercapacitor material market is expected to grow at a CAGR of 19.3% during the forecast period and reach $2.2 billion by 2023. Asia Pacific has the fastest growth rate and is likely to move toward greater adoption of advanced supercapacitor materials technology, which will directly boost the consumption value, majorly from China, Japan, and South Korea.
By Material Type
Industry outlook: Market trends, drivers, restraints, and opportunities
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