New York, United States, Oct. 12, 2022 (GLOBE NEWSWIRE) -- The Global Graphene Market Size is projected to grow from USD 87 million in 2021 to USD 628.0 million by 2030 at a CAGR of 30% during the forecast period. as per the latest research report published by Spherical Insights & Consulting. The Asia Pacific is expected to grow the fastest during the forecast period.
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Graphene is one atom thick and is the thinnest material, which is strong and durable, measured to be around 200 times stronger than steel. In addition to being a potent heat and electrical conductor, graphene also has amazing light absorption qualities. Graphene can be combined with other substances, such as gases and metals, to produce new compounds with various better properties. Batteries, energy production, transistors, supercapacitors, DNA sequencing, computer chips, water filters, touchscreens, solar cells, antennas, Spintronics-related goods, and more are among its various features potential applications. The graphene sector is still in its early stages of growth, and less work is being done regarding standards and regulations. Due to this reason, there is fake graphene on the market, making it hard to distinguish at the product stage. As a result, there are increasingly more instances of suppliers producing graphene of inferior quality, which impedes consumer confidence. Graphene is a powerful heat and electrical conductor and possesses exceptional light absorption capabilities. To create novel compounds with various superior features, graphene can be mixed with other components like gases and metals. Its many properties and potential uses include batteries, energy production, transistors, supercapacitors, DNA sequencing, computer chips, water filters, touchscreens, solar cells, antennas, and more. For example, Ford is a well-known firm that uses graphene; it uses graphene-reinforced foam coverings for noisy parts in its 2019 F-150 and Mustang vehicles. Ford claims that the pieces produced by mixing graphene with foam components are 17% quieter, 20% stronger, and 30% more heat resistant. The demand for graphene-based composites is expected to increase due to the increasing demand for low-density, durable, and high-strength materials for use in aircraft bodies. Batteries can be replaced with supercapacitors because of their higher power densities. They can also function at very low temperatures. The development of electric supercars may benefit from the enhanced short-burst energy delivery capabilities displayed by graphene-based supercapacitors. As a result, it is projected that product demand will increase exponentially. High expenses associated with product production limit market expansion.
Browse key industry insights spread across 200 pages with 118 market data tables and figures & charts from the report “Global Graphene Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Few-Layer Graphene, Graphene Nano Platelets Graphene Oxide, and Mono-layer and Bi-layer Graphene), By Application (Composites, Polymer Additives, Sensors, Research and Development, Tire, Coatings, Energy storage, Functional Ink, RFID, and Others), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030” in detail along with the table of contents
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This research report categorizes the market for graphene based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the graphene market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the graphene market.
Based on application, the graphene market is categorized into composites, polymer additives, sensors, research and development, tire, coatings, energy storage, functional ink, RFID, and others. The composites segment is expected to account for the largest revenue in the market as they have the ability to boost power and weight. These are used in a variety of fields, including manufacturing, aircraft, and the automobile industry. By adding a little amount of graphene to materials like plastics, metals, and ceramics, manufacturers may produce sturdy, light-weight materials with excellent electrical conductivity and heat resistance. Additionally, the material is used to create and store energy. Research facilities and multinational enterprises were important sources of market supply. To evaluate the product and identify the range of its applicability, they engaged in extensive research and development.
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Based on region, the Graphene Market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America held the highest market share in 2021 due to its expanding use of high composites, which are widely used in the aerospace, automotive, and defense industries to make lightweight cars and aircraft components, respectively, without sacrificing safety. Additionally, due to rapidly changing consumer expectations, the region's high purchasing power, and high investments in the region's sophisticated electronics sector, it is predicted to grow at a high CAGR during the projected period.
Key Companies & Recent Developments
The report offers the appropriate analysis of the key organizations/companies involved within the global Graphene market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. Major Key Players Angstron Materials, Inc, BGT Materials Ltd., Graphene Manufacturing Group Ltd., CVD Equipment Corp., Graphene Industries plc, Directa Plus SpA, ACS Material, LLC, Graphenea, Graphene NanoChem, G6 Materials Corp., Grafoid Inc., Thomas Swan & Co. Ltd., 2D Carbon Graphene Material Co., Ltd., Applied Graphene Materials (AGM), Others Prominent key players.
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