Graphene Market Segmentation, Analysis By Production, Consumption, Revenue And Growth Rate
Market coverage
The 2020 graphene market will reach a significant value of US$ 942.4 million by 2027, confirmed by Market Research Future (MRFR). The market is also likely to develop at a stellar rate of 43.0% between 2023 and 2027 (evaluation period), showing strong growth prospects.
Awesome boosters and redemptions
Growing demand for durable, lightweight, flexible and renewable materials has increased the demand for graphene in various industries. Excellent properties such as high thermal and electrical conductivity, together with high magnetic permeability and electron mobility, increase the attractiveness as well as the range of applications in the graphene market. Therefore, increasing penetration of graphene in various applications such as semiconductors, sensors, and energy storage devices could favor the global market in the coming years.
The increasing uptake of renewable energy in many sectors around the world has also increased its market value. In addition, stringent regulations imposed by government agencies to reduce high levels of carbon emissions may promote product utilization in energy storage applications. With increasing applications of graphene in aerospace, chemicals, automotive, energy, pharmaceuticals, electronics, coatings, etc., it can be touted as a major growth promoter for the market.
The global graphene market is partially consolidated among the top few players. Ongoing active research and development of graphene for new and emerging applications is driving many new players into the market and fragmenting the market among small but active players. Key participants emphasize RD investments and product innovation to gain competitive advantage. For example, in January 2021, Appear Inc. launched the first graphene battery-powered smartphone, the world’s lightest. The phone has advanced waterproof technology and the graphene inside it acts as a lightweight and highly conductive material. The graphene in smartphones serves as a supercapacitor for the company’s innovative fast-charging technology.
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Market segmentation
The graphene industry can be segmented based on types and end users.
The main types of graphene available in the global market are graphene nanoplatelets (GNP), graphene oxide (GO), monolayer bilayer graphene, few-layer graphene (FLG) and others (native graphene, 3D graphene form) . Graphene nanoplatelets can significantly increase in demand due to their wide range of applications across multiple fields such as aerospace, electronics, energy storage, power generation and medical.
Regarding the end-use industry, the market caters to chemical, automotive, energy, pharmaceutical, electronics, coatings, aerospace, and others (catalysts, composites, adhesives, filtration). Electronic applications such as graphene widely used in transistors, semiconductors, sensors and capacitors are at the forefront and will witness strong growth in the coming years as well. A thriving electronics sector in Asia’s emerging economies, fueled by a surge in manufacturing activity, will further ensure sectoral growth.
Local insight
The regional segmentation of the market consists of Latin America, APAC/Asia Pacific, North America, MEA/Middle East Africa, and Europe.
North America is currently the global leader and has the largest graphene market. Strong demand across end-user industries such as aerospace and electronics in Mexico, the United States and Canada is a boon to the regional market. The regional market is dominated by numerous small and medium-sized manufacturers boasting strong supplier and distribution networks, which has resulted in a vast customer base.
The second largest market share in the global market belongs to APAC, led by China, India, South Korea and Japan, with demand growing across sectors including defense, automotive, aerospace and marine. Manufacturers are focusing on RD activities by collaborating with various research institutes and universities to develop graphene products. APAC has the largest number of manufacturers of automobiles, electric batteries and electronic components. These are the main applications where graphene is used.
Europe ranks third as a result of rapidly expanding end-end industries in Italy, France and Germany. Surge in investment in research and development activities and a well-developed inks and coatings sector in the region also benefit the graphene market. Growth of the manufacturing industry, ongoing cooperation and agreements between manufacturers, distributors and marketing companies
Along with the Middle East, Latin America is a strong contender due to the increasing applications of graphene in industries such as aerospace, automotive, energy, pharmaceutical, chemical, electronics, coatings, and more.
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Major players
Reputable companies in the global market include BGT Materials Limited, Ltd (UK), Graphene NanoChem (UK), Angstron Materials Inc (US), Grafoid Inc (North America), Graphenea Inc. (US) and CVD Equipment Corporation. . (US), Graphene Laboratories, Inc. (US), Haydale Limited (UK), XG Sciences, Inc. (US), and Vorbeck Materials (US).
Market Research Future (MRFR) is a global market research company that prides itself on providing a complete and accurate analysis of various markets and consumers around the world. MRFR’s approach combines proprietary information with a variety of data sources to give clients a broader understanding of the latest key developments, anticipated events and actions to be taken based on these aspects.
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