December 24, 2019
According to the research report titled ‘Graphene Market Size By Product (Graphene Oxide, Graphene Nanoplatelets, Mono-layer & Bi-layer Graphene, Others), By Application (Electronics, Aerospace & Defense, Energy, Automotive, Healthcare, Others), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available with Market Study Report LLC, the global graphene market is projected to cross USD 400 million by the year 2026.
For the record, graphene is a form of carbon which has high electrical conductivity, durability and toughness. It is extensively used in manufacturing of laptop & mobile screen coatings, memory chips, circuits, and sensors.
Increasing consumption of graphene for production of semiconductor in electronics industry is the major factor driving the graphene market growth. Escalating investments in R&D activities by major players in North America is leading to development of innovative applications of graphene which in turn will boost the market expansion. Moreover, graphene is gaining momentum in automotive industry as it is being used for production of lightweight composite products. Thus, growing automotive sector and rapid industrialization are augmenting the demand for graphene across the globe.
In terms of product type, graphene oxide is expected to dominate the graphene market during the forecast period. Graphene oxide is largely used to produce polymers since it enhances properties such as elasticity, tensile strength, toughness, and conductivity of products.
On the other hand, the report cites that mono-layer & bi-layer graphene segment will reach USD 50 million by the year 2026. Rising R&D activities, in tandem with increasing utilization of such products for production of nano- and microelectromechanical systems, biological & chemical sensors, conductive coatings, and flexible batteries is enhancing the expansion of the segment.
Based on application spectrum, electronics industry is estimated to dominate the graphene market owing to surging demand of graphene for production of smartphones screens and memory chips. Contrarily, graphene is gaining popularity in healthcare and energy sector. It is used in tissue engineering, drug delivery, medical devices, and cancer treatment. Furthermore, graphene can also be used to generate electricity through solar panels, Li-ion batteries, super capacitors, and electrodes. All these factors are thus contributing to the popularity of product in energy and healthcare applications.
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Considering geographical landscape, Asia-Pacific region is expected to hold the largest share in graphene market in the upcoming years, on account of flourishing semiconductor and electronics sector, especially in emerging economies like China, India, South Korea, and Japan.
The prominent companies operating in graphene market are Grafoid, Inc., Haydale Ltd., XG Sciences, Inc., Applied Graphene Materials Plc, Angstron Materials, Inc., Applied Nanotech, Inc., ACS Materials LLC, and Graphenea S.A. among others.
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