The worldwide Graphene market volume was 12.46 million US dollars during year 2014. The market is predicted to touch 106 million US dollars by the end of year 2022 growing at a CAGR rate of 33.56% during the estimated period. It is predicted to experience substantial growth in future due to the growing demand from electronics sector in evolving economies like India and China.
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Films and Nanoplatelets are the two kinds of Graphene based items mainly utilized in electronic products and equipments. Films are predicted to achieve boom due to the rising need for protective coatings on flexible electronic instruments and smart phones. Aligning with the trend, many producers have raised their manufacturing capacity during last few years.
Graphene is the world's first 2D carbon substance and is also referred as wonder material. Graphene displays multiple features and so it is ideal for many uses & applications in different end use sectors.
Superlative features like resistance to fire & barrier, growing flexibility, effective electric & thermal conductivity and strength of Graphene are predicted to play a vital part in the growth & expansion of the global Graphene market during the estimated period.
Today, substantial amount of research regarding the use of Graphene is being carried out in different applications like automobiles sector , electronics industry , defense & aerospace sector, power& energy sector and healthcare industry. The reason for this being that Graphene displays exceptional features and characteristics. Growing use of Graphene in aerospace & defense applications, smart phones and automobile applications is predicted to provide a business opportunity for the global Graphene market in future. Growing demand for Graphene in telecom sector and automobile industry is predicted to provide growth avenues to the global Graphene market during the estimated period.
But , the high production costs and complicated manufacturing procedures involved in the production of Graphene are anticipated to inhibit the growth of the global Graphene market as it restricts the use of Graphene to high cost applications.
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The worldwide Graphene market today is led by the start up firms who are mainly concentrating on the research & development activities to recognize the product potentiality completely within coming few years. Thus growing spotlight on research & development activities is predicted to be the main aspect for the development & growth of the Graphene based products during the estimated period.
Growing economies like Russia, India, Brazil, China and other South East Asian nations have been experiencing substantial growth in the production of Graphene.
Graphene Market by Product:
The worldwide Graphene market by product is divided into Graphene Oxide, Mono layer Graphene, Graphene Nanoplatelets, Bi layer Graphene and Others.
Graphene Oxide led the global Graphene market in terms of size during year 2014 and contributed about more than 40% to the total revenue share of the global market. It was followed by Graphene Nanoplatelets, Mono layer Graphene and Bi layer Graphene during this year. The reason for the domination of the market by Graphene Oxide was attributed to factors like high flexibility, low prices, production ease, effective conductivity, high tensile strength and transparency. All these factors and wide applications of Graphene Oxide make it most preferred kind of Graphene among key Graphene producers. The wide applications of Graphene Oxide include ailment identification, medical, nanofiltration membranes, bio sensing, electrode substances/matter in batteries and polymer substances.
Graphene Oxide is predicted to be the rapidly growing section during the estimated period. Its domination is expected to continue in future owing to deep research & development activities going on in the field. Graphene Oxide is predicted to be utilized extensively in different applications like biomedical sector, electronics sector and power storage sector.
The products of Graphene oxide are predicted to experience substantial benefits during the estimated period due to its exceptional features. Growing demand from different institutions and universities to discover their abilities is predicted to be a critical aspect for the product growth.
Graphene Nanoplatelets section crossed 8.51 million US dollars mark during year 2014 owing to its low costs and enormous accessibility.
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Graphene Market by Application:
The worldwide Graphene market by application is divided into power & energy section, coatings, electronics section, sensors, automobiles section, catalysts, aerospace & defense sector, healthcare industry and composites. Electronics section led the global Graphene market in year 2014. It was the biggest application and contributed about 39.3% of the total market share of the global market in terms of volume during that year.
Electronics section is predicted to be the rapidly evolving application section during the forecasted period. Growing demand for Graphene in the production of smart phones is predicted to stimulate the growth of the electronic section in future. It is utilized in the manufacturing of smart phone memory chips having high storage facility.
Further, growing use of Graphene in consumer electronics and semiconductors along with growth of electronics section is projected to enhance the demand, growth and development of the global Graphene market in future. In addition to this, the growing demand for lightweight, semi transparent, long life spanned and flexible Li ion batteries & electronics items are contributing to the growth and use of Graphene in electronics section. This in turn results in growth and expansion of the global Graphene market.
The electronics section was followed by composites section in its growth. It was the second biggest application section contributing about 171.81 tons to the total volume of the global market in terms of volume during year 2014. Today, composites are utilized in a concentrated manner and this has led to their growth and enhanced their rate of market penetration during last few years.
Aerospace sector is predicted to be a critically market growth driving aspect for composites section owing to its exceptional features.
Graphene Market by Region:
The worldwide Graphene market by region is divided into four geographical regions, namely, the subcontinent of North America, continent of Europe, Asia Pacific zone and region of the rest of the world.
Developed regions like North America and Europe are predicted to lead the global Graphene market in future. The reason for this being significant expertise in production and easy accessibility of raw materials in these areas.
The worldwide Graphene market is a niche and focused market. Key industry players involved in the business and included in the global Graphene market report are as follows:
- Grafoid Incorporation
- XG Sciences Incorporation
- Haydale Graphene Industries PLC
- Graphene Nanochem PLC
- Graphene Laboratories Incorporation
- ACS Materials LLC
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