New York, USA, Nov. 01, 2022 (GLOBE NEWSWIRE) -- Graphene Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Graphene Market Information by Type, End Use And Region - Forecast till 2027”, the market is estimated to grow at a 39.45% CAGR to reach USD 942.4 Million by 2027.
Market Synopsis
Carbon atoms are linked in a hexagonal lattice to form the thin, dense material known as graphene. Since its discovery, much research has been done on the item and its uses in various sectors, including electronics, automotive, aerospace, and defense. As carbon allotropes, diamond and graphite take up a significant amount of space in high technology disciplines and nanomaterials. Two-dimensional hexagonal lattices joined together by strong covalent connections are represented by a single stacked carbon atom. The usage of cutting-edge revolutionary technology is made easier by graphene in the end-user industry.
As the graphene industry's research and development division grow, more prospects for the graphene market to expand arise. The first 2-D carbon substance discovered, graphene, also referred to as the "wonder material," is suitable for many uses. Graphene is 200 times stronger than steel, 200 times lighter than air, a good conductor of electricity, and fire-resistant. Graphene is also a powerful catalyst in the chemical industry due to its large surface area and adsorption capacity. The global graphene sector is anticipated to rise due to an increase in chemical demand on a global scale.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2027 | USD 942.4 Million |
| CAGR | 39.45% (2021–2027) |
| Base Year | 2020 |
| Forecast Period | 2021–2027 |
| Historical Data | 2019 |
| Forecast Units | Value (Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, End Use And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rise in research activities and developmental activities by the excellent researchers and government |
| Graphene has numerous applications in automotive and as a transportation facility. |
Market Competitive Landscape:
The well-established contenders in the graphene market are:
- Angstron Materials Inc (United States)
- Graphene Laboratories Inc (United States)
- CVD Equipment Corporation (United States)
- Vorbeck Materials (United States)
- Graphene NanoChem (United Kingdom)
- XG Sciences Inc (United States)
- BGT Materials Limited Ltd (United Kingdom)
- Graphene Inc (United States)
- Grafold Inc (United States)
- Hausale Limited (United Kingdom)
Market U.S.P. Covered:
Market Drivers:
The market for composites based on graphene is expected to increase due to the growing need for materials with low density, durability, low electrical conductivity, and high strength. Batteries can be replaced with supercapacitors because of their higher power densities. They can also function at very low temperatures. The creation 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. A significant barrier to effective product adoption on a commercial scale is anticipated to be the absence of common standards for the manufacture and integrity of graphene and graphene-based products.
Additionally, the high expenses associated with product production limit market expansion. Globally, the graphene market is expanding gradually and steadily. Numerous uses for graphene exist in the automotive and transportation industries. Tires, composite structural components, anti-braking systems, and numerous other accessories are among the elements utilized in the automobile industry and help the graphene market grow.
Market Restraints:
Globally, it is noticeable that practically all regions, except for a few, have exhibited growth. These locations haven't shown growth because of certain constraining circumstances. The main rating element for growth is the extensive production of detect-free, high-quality graphene. The production is hampered, and the graphene market's expansion is prevented if manufacturing is time-consuming and economical.
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COVID 19 Analysis
Globally, the COVID pandemic significantly negatively impacted working people's ability to go about their daily lives normally. Due to this pandemic, individuals worldwide had to choose between their health and the financial crisis. The financial situation deteriorated due to COVID, forcing a forced recession. Several manufacturing facilities stopped producing as a result of the lockdown situation. The graphene industry's sales and revenue declined due to changes in the automotive, transportation, aerospace, and electrical industries. During this outbreak, there was a noticeable shift in consumer behavior and a break in the supply chain. However, in the following years, the graphene market will normalize internationally from the current COVID condition soon before the conclusion of the second quarter.
Market Segmentation
By type, the market includes graphene nanoplatelets (GNP), graphene oxide (GO), few-layer graphene (FLG), and mono-layer & bi-layer graphene. The market includes automotive, coatings, electronics, aerospace, energy, chemical, and pharmaceutical by end-use industry.
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Regional Insights
Numerous small- and medium-sized manufacturers are prevalent in the North American region. Due to the duty of distributors and suppliers to uphold a devoted customer base for their manufacturers, these manufacturers have a sizable distribution and supplier network, which plays a significant part in the value chain. The region with the largest graphene market share is anticipated to lead during the projected period. Additionally, Asia-Pacific is anticipated to develop at the quickest rate during the forecasting period. Graphene is largely used in the electronic and automotive industries because of its outstanding electrical and thermal conductivities. In the Asia Pacific, the electrical and automotive sectors are expanding quickly, two of the main markets for graphene.
Consequently, the rapid growth of these end-use sectors will increase demand for graphene in the area. The graphene market was dominated by the Asia-Pacific region, which is expected to remain dominant throughout the projected period. Favorable government policies, funding, and research will all contribute to the expansion of the local market during this time. Additionally, the region's market is anticipated to be driven by the presence of significant manufacturers and customers and the increase in output across several sectors, including the automotive, defense, nautical, and aerospace industries. Due to rising investments in R&D activities, the market in Europe is predicted to see a considerable growth rate and may maintain its dominance during the forecast period.
Due to the widespread usage of GO in transistors, semiconductors, capacitors, and sensors, Latin America is expected to develop exponentially during the projection period. During the projected period, the Middle East & African market is anticipated to develop at a moderate rate. Due to its exceptional qualities, including tensile strength, electrical conductivity, and thermal conductivity, graphene-based products are increasingly in demand from the automotive industry.
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