Graphene Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $151.4 million by 2021.Graphene nanoplatelets (GNP) segment is expected to account for about two-third of the overall market revenue by 2021. The Asia-Pacific graphene market is projected to grow at the highest CAGR of 47.7% during the forecast period.
Graphene is known as wonder material due to its exceptional strength and thinness. It displays characteristics, such as high mechanical strength (about 200 times stronger than steel) and good electrical and optical properties. It can be used in various applications including RFID, composites, sensors, research & development, energy storage, functional ink, and polymer additives. However, high cost of equipment and technological limitation for mass production are the key factors hindering the growth of this market. In addition, heavy investment to improve production capacity and more focus to strengthen R&D activities would lead to the development of novel and innovative products.
Key Findings of Graphene Market
- Europe and Asia-Pacific, collectively, accounted for about 35% share of the global graphene market in 2015.
- In 2015, more than three-fourth of the graphene produced was used for R&D applications.
- Energy storage application segment is expected to grow at the highest CAGR of 93.2% during the analysis period.
- The composite application segment accounted for second highest share in the global graphene market in 2015.
North America accounted for about two third share of the graphene market in 2015, owing to the increase in demand for graphene in research institutes, universities, and R&D units of companies such as IBM, Intel, Nokia, Samsung, and others.
However, Asia-Pacific is expected to emerge as the fastest growing region due to the huge opportunities in electronics and energy storage industry, especially in China, Japan, Taiwan, South Korea, and India.
The key players profiled in this report include Graphenea, XG Sciences, Vorbrck Materials, Haydale Limited, Graphene Laboratories, CVD Equipment Corporation, Graphene Nanochem PLC, Bluestone Global Tech, Angstron Material, Inc., and ACS Material, LLC.