According to a new report published by Allied Market Research titled, “Graphene Market by Function, Application, and region: Opportunity Analysis and Industry Forecast, 2020–2027,” The global graphene market size valued at $91.3 million in 2019, and is projected to reach $1,369.1 million by 2027, growing at a CAGR of 40.2% from 2020 to 2027.
Graphene is a carbon allotrope that contains graphite and diamond, and is part of a wide area of research in the nanomaterial and high technology fields. Graphene is precisely a single layer of carbon atoms with a two-dimensional hexagonal lattice, bound together at the atomic level via strong covalent bonds. The introduction of graphene into current end-user industries enables significant advances in technology and also empowers new applications.
In various end-user industries such as aerospace, automotive, pharmaceutical, oil, electronics, coatings, chemical, and others graphene has found. Increasing demand from the electronics industry is likely to drive the growth of the graphene market. Growing pharmaceutical, oil, coatings, electronics, especially in North America and Asia-Pacific due to the growth of the commercial market, has increased the global graphene market over the forecast period.
Graphene nano platelet holds industry’s largest graphene market share in the year 2019. In fact, it is expected to experience exponential growth in the coming years. Graphene oxide is expected to be the fastest rising consumer commodity.
The main applications of the global graphene are composites, energy storage, and electronics. The most comprehensive application section was provided by the electronics. Furthermore, the application on electronics is expected to be one of the fastest growing graphene market applications in the coming years. Increasingly growing demand for cell phones and laptops is expected to boost the demand for graphene in the electronics market.
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.
Key Findings Of The Study:
Based on type, the graphene nano platelets segment emerged as the global leader with more than 63% share in 2019. This can be highly attributed to high demand for graphene nano platelets in various end-use industries.
By application, research & development segment dominated the global graphene market with around 30% market share in 2019.
Countries such as the U.S., China, and India are emerging as investment centric hubs due to wide scope in the manufacturing sector.