Sep 28, 2021, 06:02 ET
NEW YORK, Sept. 28, 2021 /PRNewswire/ -- The global graphene market revenue is predicted to witness a 30.2% CAGR between 2020 and 2030, to reach $1,188.8 million by 2030 from $84.7 million in 2020. The demand for this form of carbon is booming due to:
- Rising Consumption in Electrical & Electronics Sector: The high strength and good electrical conductivity of graphene make it ideal for printed circuits, transistors, and microchips. Further, graphene is used in flexible electronics as it allows such devices to be folded and rolled. Hence, with the growing electrical & electronics industry owing to people's rising purchasing power, the consumption of graphene will boom.
- New Applications in Medical Sector: The growing medical sector is another key reason for the advance of the graphene market as many new healthcare-related applications for this material have been developed in recent years. Due to its high strength and low thickness, graphene is increasingly being used to manufacture bioelectric sensors, such as those that monitor the hemoglobin, cholesterol, and glucose levels. Other emerging applications of this material in the medical sector include dental implants, prostheses, therapeutic tools, and even oncology.
The COVID-19 pandemic has somewhat boosted the graphene market because of the usage of this material in the coating of facemasks, the sales of which skyrocketed last year and still continue to be high. Further, graphene nanomaterials are being experimented upon for usage in combination with medications, nano-adjuvants, vaccine carriers, and other molecules, to improve the biocompatibility of such materials. Hence, with the rising production of vaccines during the pandemic, the demand for graphene has surged.
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The fastest growth in the graphene market, based on form, will be seen in the powder category in the coming years. Powdered graphene is widely consumed during the production of storage batteries and sensors and in printing technologies. Further, the material is easier to handle as a powder than as flakes or dispersion, which makes this form popular.
The electrical & electronics category dominated the application segment of the graphene market in the past. On account of its high mechanical strength and appreciable electrical conductivity, graphene is being used for flexible displays, touchscreen coatings, precise sensors, and many other products.
Browse detailed report on Global Graphene Market Size and Growth Forecast Report 2030
Asia-Pacific (APAC) is the largest graphene market presently, and it will also witness the highest CAGR in the coming years. China accounts for a high-volume consumption of this carbon form, especially in its electrical & electronics, energy, and medical sectors. Further, graphene is finding application in the main body frames of lightweight aircraft and automobiles, majorly in China and India.
The most-significant global graphene market players are The Sixth Element (Changzhou) Materials Technology Co. Ltd., Deyangene Carbon Technology Co. Ltd., Angstron Materials Inc., Ningbo Moxi Technology Co. Ltd., XG Sciences Inc., Xiamen Knano Graphene Technology Co. Ltd., Applied Graphene Materials plc, Graphenea S.A., 2-DTech Graphene, ACS Material LLC, Thomas Swan & Co. Ltd., NanoXplore Inc., and Vorbeck Materials.
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