Graphene Market value is expected to reach a CAGR of 38.7%during the forecast period 2020-2027
Graphene is a one-atom-thick sheet of carbon atoms in a honeycomb crystal lattice (hexagons) and is the single building-block of graphite. It is the strongest material in the world while being lightweight and with extraordinary electrical, thermal and optical properties. Graphene has a lot of possible applications in various fields like batteries, sensors, solar panels, electronics and more.
Market Dynamics
Drivers
- Increasing Applications of Graphene in Energy and Storage Industry
- Growing R&D Activities and Large Graphite Reserves Will Boost the Market
Restraints
- High Capital Investment
- Environmental Regulations
Increasing Applications of Graphene in Energy and Storage Industry
The emerging trends in portable and wearable electronics promote the design of flexible energy storage systems. Flexible supercapacitors and batteries as promising energy storage devices have attracted tremendous attention. Graphene is the best material for the flexible energy storage systems owing to its properties such as large surface area, good thermal and chemical stability, high conductivity and mechanical flexibility. Further, Graphene-based batteries have many applications. One application is in rechargeable batteries, as its high energy capacity and charge rate makes it very desirable. Another application is in supercapacitors because it has high conductivity, is electrochemically stable, has open porosity, and higher surface area than activated carbon, the material used in supercapacitors today. Because it is extremely thin and lightweight, it can be made into a paper- like material and be used to create flexible or rollable batteries. Graphene can also be used to make solar panels because of its high conductivity
Geographical Analysis
The Global Graphene Market is segmented into various region geography such as North America, South America, Europe, Asia-Pacific, and Rest of the World.
Among all regions Asia-Pacific holds the largest market share followed by North America with 40% and 26% of the total market respectively. China and the United States are major contributors to these regions.
North America and Asia pacific markets are projected to be the major consumers of graphene due to high demand of energy and electronic products.
Asia-Pacific has major proven reserves for graphene particularly in countries like China and India. Other regions such as North America are also contributing in low cost production of graphene with the latest technology fueling the growth of the global graphene market.
In addition, the global production capacities of Graphene Nano Platelets by region are shown in the figure. GNP is one of the major types of graphene.
North America
The North America Graphene market value was USD XX million in 2019 and is expected to reach USD XX million by 2027 with a CAGR of 34.28% during the forecast period 2020-2027
North America is dominating the global graphene market during the forecast period due to the growing usage of graphene in touch screens and the requirement in the printed electronics industry. In North America, the United States has witnessed a constant increase in the use of graphene over the recent years due to the significant growth of the electronics market.
Graphene is the largest market in the United States, in terms of size and is expected to remain as the leading market during the forecast period, because of advanced technology and R&D, with increasing demand from the consumer end.
In addition, the aerospace sector in the region is shifting more manufacturing investments. Graphene is used as a composite for reducing the aircraft weight structure, used in micro-electromechanical systems (MEMS) and in hybrid coatings to help prevent lightning strikes. Hence, the growing demand for graphene from various sectors in North America is expected to drive the market during the forecast period.
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