Pune, India, Jan. 31, 2022 (GLOBE NEWSWIRE) -- The global graphene market size is projected to reach USD 4,067.1 million by 2028 from USD 388.8 million in 2021 exhibiting a CAGR of 39.8% during the forecast period. Strong demand for lightweight and reliable materials and their incorporation in electronics is likely to fuel market growth. Fortune Business Insights™ provides this information in its report titled "Graphene Market, 2021-2028." The market stood at USD 285.9 million in 2020.
Graphene is a renewable, lightweight, flexible, and durable material used in semiconductors, electronics, automotive, and other industries. It is expected to be stronger and tougher than diamond and steel. It is an excellent conductor of heat and electricity used extensively in mobile phones, laptops, TV, and other electronics. Rapid digitization and adoption of internet-powered devices are expected to boost its adoption by electronics manufacturers. Graphite is faster and effective as compared to silicone material, which, in turn, may boost its demand. These factors are likely to fuel the market progress during the upcoming years.
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List of Key Players Profiled in this Market Report
- XG Sciences (U.S.)
- Graphenea, Inc. (U.S.)
- ACS Material, LLC (U.S.)
- CVD Equipment Corporation (U.S.)
- Global Graphene Group (U.S.)
- AMO GmbH (U.S.)
- Applied Graphene Materials plc (U.S.)
- Graphene One (U.S.)
- Grolltex Inc. (U.S.)
- DIRECTA PLUS S.p.A.(Italy)
- CHINA CARBON GRAPHITE INC (China)
- NanoXplore Inc. (Canada)
- Thomas Swan & Co. Ltd. (U.K.)
Segments
By product type, the market is segmented into graphene nanoplatelets, graphene oxide, and others. As per end-use, it is classified into automotive, energy, aerospace & defense, and electronics. Geographically, it is clubbed into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Highlights of the Report
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
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Drivers and Restraints
Increased Adoption in Electronics Sector to Foster Market Progress
Graphene is an extremely effective material that boosts performance in electronics. The emergence of foldable and bendable phones boosts the demand for stronger and lighter materials. It significantly boosts performance and improves the device's strength against damages. For example, a Samsung Advanced Institute of Technology group developed a transistor for boosting semiconductor chipset's performance. The research showed that graphite is faster than silicone chipsets and provides excellent speeds. Further, increased per-capita income and evolving buying preferences are expected to boost the material's adoption. These factors are likely to fuel graphene market growth.
However, concerns regarding the negative impact of the material are likely to fuel market progress.
Regional Insights
Increasing Investments in R&D to Bolster Market Growth in Europe
Europe is expected to dominate the graphene market share because of the increasing investments in the research and development of advanced materials. For example, the European Union (EU) invested approximately USD 1.16 billion in Graphene flagship to leverage the product for commercial markets. The European region stood at USD 94.7 million in 2020. The region is an economic powerhouse for material-based technologies, which, in turn, may boost the adoption of the product. These products are likely to propel market progress.
In North America, the presence of small and medium-scale manufacturers is likely to fuel the product's adoption. Further, the collaboration of research institutions and universities with manufacturers to develop newer generation material is likely to fuel the product's adoption. These factors are likely to boost market development.
In Asia-Pacific, robust demand for lightweight, flexible, and durable materials from the aerospace, electronics, automotive, and energy storage industry is expected to boost demand. In addition, suitable government policies, academic research, and energy storage products are likely to fuel market progress.
Competitive Landscape
Prominent Companies Collaborate with Crucial Companies to Boost Brand Image
The prominent companies operating in the market collaborate with crucial companies to develop advanced solutions that satisfy consumer demand and boost brand image. For example, The School of Engineering researchers and a Chinese specialist materialist company collaborated to develop the material for treatment and purification applications. Furthermore, the adoption of research and development enables manufacturers to improve material quality and improve resistance against damages.
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Key Industry Development
February 2021: Applied Graphene Materials (AGM) declared that its consumer Infinity Wax announced its second car utilizing its graphene technology.
Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Emerging Trends – For Major Countries
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Global Graphene Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- By Product (Value)
- Graphene Oxide
- Graphene Nanoplatelets (GNP)
- Others
TOC Continued…!
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