The global graphene market size is expected to reach USD 1.6 billion by 2028, registering a CAGR of 43.2% over the forecast period, according to a new report by Grand View Research, Inc. The growing research activities in graphene-based energy storage technologies coupled with the rising use of graphene in membrane separation are projected to benefit the market growth.
Key Insights & Findings from the report:
- The graphene nanoplatelets material segment dominated the market in 2020owing to the high demand on account of superior characteristics including high strength and permeability
- The composites application segment accounted for the maximum revenue share in 2020 and is projected to grow at a significant CAGR from 2021 to 2028
- Increasing use of graphene-based composites in applications including batteries, construction, aerospace, automotive, coatings, metals, and plastics is projected to propel the segment growth
- The electronics sector is estimated to reach USD 455 million by 2028 on account of high product demand in semiconductors, bendable phones, and other electronics
- Asia Pacific accounted for the largest revenue share due to the growing demand across various sectors including automobile, marine, defense, and aerospace
- China is expected to emerge as a promising market and is expected to grow at a considerable CAGR from 2021 to 2028 on account of favorable government support to promote investments in the manufacturing sector
Key application areas of graphene include electronics, biomedical technologies, energy storage, composites & coatings, and water & wastewater treatment. Growing focus on miniaturization is one of the primary factors driving graphene research across the globe. Graphene exhibits the potential to revolutionize the semiconductor industry owing to its conductivity and extremely thin nature.
Lack of viable, cost-effective mass production technology happens to be the major bottleneck restraining the full-fledged adoption of graphene. There have been continuous efforts for research and development to enhance the quality of the materials produced and develop superior graphene nanoplatelets and graphene oxide films. A major share of key players is concentrated in developed regions, hence regional partnership and distribution agreements are the key strategic initiatives adopted by market participants. In 2020, Applied Graphene Materials was one of the major manufacturers that signed several distribution agreements with various other regional players to establish its market presence.
Read 145 page market research report, “Graphene Market Size, Share & Trends Analysis Report By Material (Graphene Oxide, Graphene Nanoplatelets), By Application (Electronics, Composites), By Region (APAC, Europe), And Segment Forecasts, 2021 – 2028“, published by Grand View Research.
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Source: Grand View Research, Inc.
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