LONDON, Jan. 17, 2017 /PRNewswire/ -- The global graphene market is projected to reach USD 529.8 million by 2025, according to a new report by Grand View Research, Inc. Growing electronics industry, especially in the emerging Asia Pacific region is projected to drive the market over the forecast period. In terms of product, graphene nanoplatelets dominated the market in 2015. These products are mainly used in electronic devices. They are abundantly available and low priced. Hence, they are commonly used by small-scale producers, due to cost sensitivity of customers.
Electronics was the most popular application area of graphene. Rising demand for consumer electronics including smartphones and tablets is expected to be the biggest industry driver in this segment. Rising per capita income of developing countries such as India and China has resulted in high demand for consumer electronics and luxury vehicles, which is expected to provide the impetus for industry growth.
Further key findings from the report suggest:
Graphene nanoplatelets are expected to grow at the highest CAGR of over 45% from 2016 to 2025 on account of rising application in the electronics industry due to superior properties including high strength and stiffness
The electronics industry dominated the application segment of the graphene market in 2015, with a share of over 40% as graphene is increasingly being used as an alternative to indium-tin oxide (ITO) in the manufacturing of low-cost, flexible touch screen displays for mobile phones and tablets
North America accounted for the largest share of over 30% in 2015 with U.S. being a major market and home to some of the largest electronics players such as Apple, Hewlett-Packard, Dell and Intel.
The market in Asia Pacific is projected to grow at the highest CAGR of 38.7% from 2016 to 2025 courtesy growing markets in emerging countries such as China and India
In March 2016, Haydale Composite Solutions Limited in collaboration with SHD Composites Ltd. launched new graphene-based enhanced carbon fiber products.
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