New York, US, June 30, 2021 (GLOBE NEWSWIRE) -- Graphene Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “Graphene Market Information by Type, End Use Industry, and Region - Forecast till 2027”, the market is predicted to reach USD 942.4 Million by 2027 at 39.45% CAGR.
Market Scope
The demand for graphene is increasing at a constant pace globally, which can support the expansion of the graphene market. Graphene is largely applied in transportation and automotive industries for volume purposes. Various components of automobiles, such as; anti-braking systems, automotive batteries, tires, and composite structural components, can increase the need for the global market. The expansion of the automotive industry across various regions, such as; North America, Asia-Pacific region, and Europe, can directly increase sales of the market in the year to come. In addition, the increasing research and development by governments, universities, and various other organizations provide multiple growth opportunities in the worldwide graphene market. Also, the expansion of the automotive industry in Latin America, the Middle East Asia, and Africa region can prompt the rise of the graphene market in the years to come. However, the high demand for graphene requires mass manufacturing of high-quality and defect-free graphene, which can restrain the market rise due to lack of an effective production base. Moreover, graphene production is a cost-effective and time-consuming affair, and graphene obtained can lack standardization owing to diversification, which, in turn, can pose a challenge to the market growth.
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Market Drives
The increase in automobile and transportation applications of graphene, along with the growing demand for graphene in semiconductor domain can prompt the growth of graphene market in the years to come.
Market Restraints
Lack of infrastructure base and effective equipment for large-scale graphene production to meet the growing demand can restrain the upsurge of the market.
Competitive Landscape of Graphene Market
Some of the well-established enterprises that are operating in the worldwide graphene market are;
- CVD Equipment Corporation (U.S.)
- Vorbeck Materials (U.S.)
- Graphene NanoChem (U.K.)
- XG Sciences, Inc. (U.S.)
- Angstron Materials, Inc. (U.S.)
- Graphene Laboratories, Inc. (U.S.)
- BGT Materials Limited, Ltd (U.K.)
- Graphena Inc. (U.S.)
- Grafoid Inc (North America)
- Haydale Limited (U.K.)
COVID 19 Analysis
The COVID 19 pandemic situation has adverse effects on human health, along with financial crises. Lockdown has slowed down manufacturing units in automotive, aerospace, transportation, and electronic industries, resulting in a decline in sales of graphene. However, the graphene market can gain momentum by the end of the second quarter in the coming year as the number of people getting vaccination surges.
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Segment Assessment of Graphene Market
The segment assessment of the global graphene market is based on type and end-users.
The type-based segments of the graphene market are pristine graphene, 3D graphene foams, bi-layer graphene, monolayer graphene, graphene nanoplatelets (GNP), few-layer graphene (FLG), and graphene oxide (GO), among others.
The end-users-based segments of the graphene market are the chemical industry, coatings industry, electronics industry, pharmaceutical industry, energy sector, automotive industry, and aerospace industry, among others. The other segment comprises adhesives, catalysts, filtration, and composite.
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Regional Insights of Graphene Market
The worldwide graphene market study based on region is studied for Asia-Pacific region, Latin American region, North American region, the Middle East and African region, and European region. However, the largest share of the global graphene market is expected to be held by the North American region as the demand for graphene among different end-users in the market surge. In addition, the expansion of aerospace and electronics industries in region, such as; the US, Canada, and Mexico can earn a decent income for North America.
The graphene market in APAC can secure the second-largest share of the global market and thrive at high pace in years to come. Asia Pacific is expected to witness increasing demand for chemical industry, automotive industry, aerospace industry, and various other industries in regions, such as; South Korea, Japan, India, and China, that can support the market's growth. The graphene market in Europe can rise at a decent pace due to some reputed companies in the region. France, Germany, and Italy are regions that are expected to contribute significantly to the regional market.
In Africa and the Middle East Asia region, as well as in the Latin American region, the graphene market is expected to show a steady rise owing to the increasing demand for graphene in the aerospace industry, pharmaceutical industry, electronic industry, energy sector, and coatings industry among other sectors.
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