Dublin, March 27, 2023 (GLOBE NEWSWIRE) -- The "Graphene Electronics Market By Product, By Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
Global Graphene Electronics Market,' the global graphene electronics market was valued at $270.82 million in 2021, and is estimated to reach $5.2 billion by 2031, growing at a CAGR of 34.2% from 2022 to 2031.
Key factors driving the growth of the graphene electronics market include the rise in government initiatives to expand or upgrade transmission & distribution systems paired with the surge in demand for electric vehicle economies. The graphene electronics market witnesses several R&D activities, endeavoring to develop improved products such as high-storage graphene super-capacitors, Moldable graphene batteries, graphene-based solar cell panels, and more.
There have been struggles in the market to develop energy storage solutions such as batteries and capacitors that can keep up with the current rate of electronic component evolution. Therefore, growing awareness regarding graphene electronics solutions is propelling the demand for cable joints.
The market also offers growth opportunities to the key players in the market. Emerging economies such as China, India, and Brazil are engaged in investments on next-generation semiconductor solutions of remote and rural areas. An increase in demand for consumer electronics solutions and a surge in urbanization are the primary factors that increase the need for electrification, which fuels the demand for power grid infrastructure in these countries, thereby providing growth opportunities for the stakeholders in the coming years.
The key players profiled in the study include Talga Group, Versarien PLC, Graphenea, First Graphene, and Graphene Platform Corporation. The players in the market have been actively engaged in the adoption of various Strategies such as acquisition, product development, partnership, product launch, and expansion to remain competitive and gain an advantage over the competitors in the market.
For instance, In June 2021, Haydale Graphene Industries plc announced that Haydale Technologies (Taiwan) Co., Ltd. ('HTW') signed a supply agreement for specific graphene-based and other specialty inks to Graphene Platform Corp ('GPC'), Tokyo, Japan. Further, the GPC will brand the inks as GP Graphene Ink", which will be specifically targeted to the printed electronics market primarily in Japan, but with the potential to target other Asian countries where there is also a significant market.
Key Market Insights
By product, the batteries segment was the highest revenue contributor to the market and is estimated to reach $1.73 billion by 2031, with a CAGR of 35.7%. However, the ICs and chips segment is estimated to be the fastest-growing segment with a CAGR of 33.2% during the forecast period.
By industry vertical, the automotive segment was the highest revenue contributor to the market, with $95.8 million in 2021, and is estimated to reach $1.99 billion by 2031, with a CAGR of 35.2%.
Based on region, Asia-Pacific was the highest revenue contributor, accounting for $94.8 million in 2021, and is estimated to reach $2.06 billion by 2031, with a CAGR of 35.8%.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 301 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $270.8 million |
| Forecasted Market Value (USD) by 2031 | $5200 million |
| Compound Annual Growth Rate | 34.4% |
| Regions Covered | Global |
Key Market Players
- AMG Advanced Metallurgical Group N.V.
- Graphene Frontiers LLC
- Graphenea
- Talga Group
- NanoXplore Inc.
- Versarien plc
- Graphene Platform Corporation
- Graphene Square, Inc.
- First Graphene
- Grafen Chemical Industries Co. Ltd
Market dynamics
Drivers
- The rise in sales of electric vehicles
- Thriving portable electronics industry
- Superior Performance & Functionalities
Restraints
- High cost and Lack of awareness of graphene technology
Opportunities
- Rise in government investments in R&D
Key Market Segments
By Industry Vertical
- Consumer Electronics
- Automotive
- Healthcare
- Industrial Robotics
- Aerospace and Defense
By Product
- Display
- Memories
- Batteries
- Solar Cell
- Integrated Circuits and Chips
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
For more information about this report visit https://www.researchandmarkets.com/r/kpwrib
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