The Global Graphene Market is estimated to garner USD 811.40 million during the forecast period (2016-2023). Market Research Future (MRFR) postulates that the global market for Graphene is predicted to demonstrate 43.0 % CAGR owing to the burgeoning demand in several end-user industries. Graphene is referred to as an allotrope of carbon which includes diamond and graphite and forms a large area of study in the fields of high technology and nanomaterial. It is a single layer of carbon atoms possessing two-dimensional hexagonal honeycomb lattice which is bonded together with the help of strong covalent bonds at the atomic level. The incorporation of Graphene into end-user industries empowers new applications and aids in the development of technology.
The prominent players operating the Global Graphene Market are CVD Equipment Corporation (US), Graphenea Inc. (US), Grafoid Inc (North America), BGT Materials Limited Ltd (UK), Graphene Laboratories Inc. (US), XG Sciences Inc. (US), Vorbeck Materials (US), Angstron Materials Inc. (US), Haydale Limited (UK), Graphene NanoChem (UK), and others.
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Market Potential and Pitfalls:
Graphene finds its application in several end-user industries such as aerospace, automotive, energy, pharmaceutical. Electronics, coatings, and others. With augmenting coatings, pharmaceuticals, energy, and electronics on account of the developing commercial market especially in the Asia Pacific and in the North American region, the Global Graphene Market is estimated to flourish throughout the estimated period. Factors such as rising population coupled with the improving economic conditions which have substantiated urbanization and industrialization besides consumer purchasing power are considered to benefit the market across the globe. With remarkable heat resistance and electrical conductivity properties, graphene is extensively used in applications such as composites, RFID, research & development, sensors, functional ink, energy storage, and polymer additives. This is further contributing to the growth of the Graphene Industry during the assessment period. The augmenting capital investment in order to strengthen the R&D activities along with the increasing focus to expand the production capacity is predicted to influence the graphene industry growth to a large extent. Graphene is anticipated to experience increased penetration in the coming years in energy storage, semiconductors, sensors, and generation devices. Also, graphene demand is likely to augment and gain momentum due to the rising need for protective coatings on flexible electronic devices and smartphones. This has further resulted in increased production of graphene-based products across the globe.
On the flips side, the high price of the equipment coupled with the technical limitations for commercial production is considered some of the major concerns considered to slow down the market growth in the coming years. Moreover, owing to its high inflammable attributes, the environmental and health risk becomes high during the production of 2D material graphene, which further restricts the growth of the Graphene Industry Worldwide.
Global Graphene Market: Segmental Analysis:
The Global Graphene Market has been segmented on the basis of Type and End-Users.
By Mode of Type, the Global Graphene Market has been segmented into graphene nanoplatelets (GNP), graphene oxide (GO), mono-layer & bi-layer graphene, few-layer graphene (FLG), and others. Among these, the graphene nanoplatelets (GNP) segment accounts for a significant market share during the estimated period. The growth is attributed to its wide application areas and low price.
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By mode of End-Users, the Global Graphene Market has been segmented into aerospace, automotive, energy, pharmaceutical, electronics, coatings, chemical, and others. Among these, the electronics segment is considered to be the major segment owing to the increased demand from communication, optoelectronics, and defense electronics systems. The segment is likely to propel especially in emerging nations like China, India, Taiwan, and Malaysia due to the increasing manufacturing activities in these economies.
Geographically, the Global Graphene Market has been segmented into Europe, North America, Latin America, Asia Pacific, and the Middle East & Africa.
Among all the regions, the North American region is likely to lead the global market for graphene occupying the largest market share. Factors such as rapid industrialization, high demand for graphene from several end-user industries such as aerospace and electronics in economies such as Canada, the U.S., and Mexico, and presence of several producers are some of the major factors fostering the market growth in this region.
The Asia Pacific region is predicted to occupy the second-largest market for Graphene due to substantial market share. With growing exports and high availability of cost comprehensive labor force, the market in this region is predicted to experience a push in the coming years. Moreover, the burgeoning demand for graphene backed by improved living standards and increasing investments in the industrial sector especially in economies like Japan, India, and China, the market size for graphene is expected to widen. Chinese graphene producer, Shandong Leadernano Tech was recently awarded the world’s first graphene material product certificate at an event which was held in Germany.
The European region is set to emerge as one of the promising markets owing to the increasing applications in end-user industries such as aerospace, automotive, energy, and pharmaceutical. Moreover, economies such as UK, Germany, and Russia are considered major growth contributors propelling the market growth in this region.
GrapheneCA has recently announced its second graphene production line in Brooklyn which is now fully operational. The production line is considered as a major milestone for the company and marks a tenfold leap in the production power.
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