Graphene Market Set to Witness an Uptick during 2020 to 2027


The global graphene market size was estimated at USD 78.7 million in 2020 and is expected to expand at a CAGR of 38.7% from 2020 to 2027. Increasing demand for renewable, lightweight, and flexible materials that offer durability is expected to drive the product demand. Excellent product characteristics, such as high electrical and thermal conductivity, coupled with high electron mobility and high permeability is anticipated to expand the application scope of graphene. Rising product penetration in various applications including energy storage, semiconductors, and sensors is anticipated to further fuel the market.
U.S. dominated the North America market for graphene in 2020 and is expected to continue leading over the forecast period. The U.S. market has witnessed a large number of collaborations among manufacturers and research institutions over the past few years owing to increasing focus on research and development activities. The country is one of the key exporters of graphene-based products.
The market is consolidated in nature, with key players controlling major market share. Key players including Xiamen Knano Graphene Technology Co., Ltd, ACS Material, 2-D Tech, and, Angstron Materials have dominated the market and the trend is expected to continue over the forecast period. It is highly dynamic and exhibits intense competition, owing to presence of various small and medium scale manufacturers. The key participants emphasize on R&D investments and product innovations to gain a competitive edge.
The global graphene market size is anticipated to reach USD 1.08 billion by 2027, exhibiting a revenue-based CAGR of 38.7% over the forecast period, according to a new report published by Grand View Research, Inc. Rise in awareness regarding superior characteristics of graphene, such as excellent electrical conductivity and heat resistance is expected to aid the growth.
Rise in demand for consumer electronics in emerging economies in Asia Pacific, including China, India, and Thailand is expected to positively affect the market growth. Ability of bilayer graphene to open a band gap is expected to provide a huge growth potential for adoption in infrared and terahertz radiation detection, which is expected to fuel the demand for graphene.
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The market has observed a rise in number start-ups solely focused on experimental research and product development for commercializing the use of graphene. Paragraf, a U.K.-based start-up is focusing on developing graphene-based sensors. The company is also investing in research activities to replace indium in electronic devices with graphene, which is expected to drive the market growth.
Further key findings from the report suggest:
·         Graphene nanoplatelets dominated the market in 2020, accounting for 51.1% of the total revenue share and is estimated to witness substantial CAGR over the forecast period, owing to superior characteristics of the product including high strength and permeability
·         The demand from electronics sector is estimated to reach USD 391.7 million by 2027, on account of increasing product application in optoelectronics, communication, and defense electronics systems
·         North America accounted for the largest market share and is expected to expand at a revenue-based CAGR of 37.1% over the next eight years, attributed to advanced technological capability for electronics manufacturing
·         China is expected to emerge as a promising market for graphene over the forecast period on account of favorable government support to promote investments in manufacturing sector
·         The graphene market is highly concentrated, with majority of suppliers and manufacturers located in China. Key participants are focusing in developing strategic partnerships with end users and research institutes
The market has witnessed volatility in graphite prices over the historic period, owing to rise in export taxes. However, the fluctuations in graphite prices does not have a significant impact on product prices, since a single graphite mine can supply sufficient quantity of raw material required for the production of graphene.
Increasing adoption of renewable energy across various sector across the globe is expected to drive the market growth. In addition, stringent regulations imposed by various governments to reduce the carbon emissions is anticipated to further drive the product demand for energy storage applications.
The industry is characterized by overcapacity of Chinese manufacturers. The market has witnessed a huge demand and supply, where supply exceeds demand by large margin. This is expected to adversely impact the bargaining power of suppliers. Aggressive production by Chinese manufacturers has impacted the market. Hence, supplier power is expected to be low over the forecast period.
Graphene nanoplatelets are expected to witness a significant rise in demand on account of their wide range of applications in various sectors including electronics, aerospace, medical, and energy storage and generation. The segment is estimated to reach USD 303.4 million by 2027 and is expected to witness significant growth over the forecast period.
Graphene oxide is an extremely critical product owing to its wide range of applications including transparent conductive films for various supercapacitors, smartphones, flexible electronic devices, optoelectronic devices, and medical devices. Superior product characteristics such as including high thermal and electrical conductivity, permeability, transparency, and strength play a major role in boosting its demand.
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https://www.grandviewresearch.com/press-release/global-graphene-market
Grand View Research has segmented the global graphene market on the basis of product, application:
Graphene Product Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)
·         Graphene nanoplatelets
·         Graphene oxide
·         Others
Graphene Application Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)
·         Electronics
·         Composites
·         Energy
·         Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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