BANGALORE, India, March 5, 2021 /PRNewswire/ -- The Graphene Market is Segmented by Type (Mono-layer & Bi-layer Graphene, Few Layer Graphene, Graphene Oxide, and Graphene Nano Platelets), and Application (RFID, Composites, Sensors, Research & Development, Energy storage, Functional ink, and Polymer additives, Tire, Coatings, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2027. This report is published on Valuates Reports in the Industrial Materials & Equipment Category.
The global graphene market size valued at USD 87.5 Million in 2019 and is projected to reach USD 876.8 Million by 2027, growing at a CAGR% of 40.2% from 2020 to 2027.
Major factors driving the growth of graphene market size are growing purchasing power, increasing consumer electronics demand such as tablets and mobile phones, and rising product penetration in various applications, including energy storage, semiconductors, and sensors.
TRENDS INFLUENCING THE GROWTH OF GRAPHENE MARKET SIZE
Increasing graphene application in electronics devices for energy storage is expected to drive graphene market size during the forecast period. Incorporating graphene in batteries could increase their performance enormously. Energy density could increase tenfold, enabling the smartphone to last days without recharging. Furthermore, memory chips based on graphene have the potential to increase smartphone storage capacity, reduce power consumption and increase memory access speed.
Graphene has a wide range of exceptional properties, including strength, flexibility, lightweight, and conductivity. Combining graphene with composite materials is one of the easiest and most powerful ways to unlock its ability. Due to superior product characteristics such as high strength and lightweight, graphene composite is expected to be used in the automotive and aerospace industries. This wide range of applications in various industries is expected to increase the growth of graphene market size.
Furthermore, factors such as resistance to fire, durability, non-toxicity, resistance to heat, tensile strength drive the growth of graphene market size. The increasing demand rust-free coating, printed electronics, and conductive inks has led to an increase in graphene consumption in the advanced materials market.
However, the toxic nature of graphene and the risk involved during the graphene production phase might hinder the graphene market growth. Because of its inflammable nature, graphene requires careful and precise handling. Regulatory compliance with inflammable goods is few other factors that inhibit the growth of graphene market size.
Based on type, graphene nanoplatelets are expected to witness the highest growth during the forecast period.
This rapid growth is attributed to their wide range of applications in various sectors, including aerospace, telecommunications, medical and energy storage, and generation.
By application, due to their power and weight enhancement ability, the composites segment is expected to experience the highest growth during the forecast period.
These are used in a number of industries, including production, automotive, and aerospace. Manufacturers are able to produce solid and light materials with high electrical conductivity and heat resistance by applying small amounts of graphene to materials such as metals, polymers, and ceramics.
Asia-Pacific holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.
Thanks to its outstanding electrical and thermal conductivity, graphene is mainly used in the electronic and automotive industries. The Asia Pacific is rising rapidly in both the electronic and automotive industries, and they are big end-users of graphene.
North America accounted for the second-highest graphene market share in 2019 and is expected to sustain its dominance over the forecast period.
Some of the key players operating in the global graphene market are ACS Material LLC, Bluestone Global Tech, CVD Equipment Corporation, Graphene Nanochem PLC, Graphenea S.A., G6 Materials, Haydale Limited, Nanotek Instruments Inc., Vorbrck Materials, and XG Sciences.
Some of the key Indian players profiled in the graphene market are KNV'S Incorporation ((KNV'S Inc.), Carborundum Universal Limited (CUMI), Hexorp, AVANSA Technology & Services (AVANSA), and Ad-Nano Technologies Pvt Ltd. (Ad-Nano).
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KEY BENEFITS FOR STAKEHOLDERS
The report provides an in-depth analysis of the graphene market forecast along with the current and future market trends.
This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
Porter's five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the global graphene industry for strategy building.
A comprehensive graphene market analysis covers factors that drive and restrain market growth.
The qualitative data in this report aims on market dynamics, trends, and developments.
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SIMILAR REPORTS :
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