The global graphene market was valued at USD 23.7 million in the year 2015 and is estimated to grow at a CAGR of 36.7% over the forecast period. Graphene is extracted from graphite ore and is approximately 100 times stronger than steel. The product can conduct heat and electricity efficiently.
Growing electronics industry is expected to drive the market in the near future. Two major graphene-based products, oxide and nano-platelets are primarily used in electronic devices and goods. Its superior properties such as high electron mobility and permeability have resulted in making it one of the most important materials in the energy, composite and electronic sectors. In 2015, nano-platelets dominated the market trailed by oxide. These products are primarily used in touch screens in mobile phones and numerous other nanotechnology applications.
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Electronics industry dominated the application segment in the year 2015. The product is broadly used in this industry owing to its high strength and conduction property. Graphene is also used in making laptop circuit boards and personal computers apart from touch screens for mobile phones and tablets. It can also be used as a semiconductor on account of its low thickness. The growing demand from Asia Pacific region is driving the electronics industry. Although, increasing markets for tablets, smart phones, HD TVs are further presumed to fuel the global electronics industry.
In terms of revenue, composite was estimated as the second largest application accounting for 36% in 2016. These composites have the ability to enhance the conductivity and strength of bulk materials. Composites have applications in numerous industries which consist of engineering materials, aerospace and medical implants. The product is also used widely in applications in sports including F1 racing and lawn tennis.
Nanoplatelets were the largest segment of all products and accounted for over 50% in the year 2015. Nanoplatelets are small stacks of graphene, with thickness varying from 1 to 15 nanometers. By adding small proportions of nanoplatelets, polymers such as plastic or rubber can be made conductive. These platelets can be used as electrical and thermal conductors in numerous applications owing to the high barrier and mechanical properties including stiffness and surface hardness.
The product is sold in powdered form or as a coating on a substrate. This coating can make the substrate conductive, which makes the product a vital material for manufacturing transparent conductive films. Moreover, the product can also be utilized in medical applications and disease detection.
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In terms of global market share, North America possessed the largest share of 33.6% in 2015. The region is anticipated to experience a growth in electronics and automobiles industries, which would in turn thrust the demand. Moreover, growing energy sector in the region is projected to provide the necessary momentum to the industry in the upcoming years.
APAC is expected to be the fastest-growing region in the near future. The market in this region is projected to grow on account of growth in the electronics industries in developing countries such as India, China, South Korea and Japan. The growth of the market is expected to be driven by the growing aerospace, defense and automobile industries in this region over the next eight years. The European region which accounted for over 28% of the market in the year 2015, is expected to be the second fastest growing region, with a CAGR of 36.9% over the forecast period.
The graphene market is highly consolidated with the presence of a few number of producers fragmented throughout the world. Graphene SA, XG Sciences Inc., Thomas Swan & Co., are some of the key participants in this industry.
The major players in this industry are Directa Plus, Graphene Laboratories Inc., Haydale Graphene Industries PLC., 2D Carbon Tech Inc., Xiamen Knano Graphene Technology Corp. Ltd., Nanoxplore Inc., Graphene Nanochem PLC. Haydale and Graphene Laboratories Inc. in April 2014 announced that the HDPI, a series of superior performance materials would be offered by ‘The Graphene Supermarket, one of the leading producers in the U.S.
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/advanced-materials
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