The latest report published by Market Research Future (MRFR) reveals that the Global Graphene Market will grow at 43% CAGR during the forecast period (2016-2023). The market value is poised to reach USD 811.40 Mn by the end of the assessment period. Graphene can be used in varied industries such as automotive, aerospace, pharmaceutical, energy, coatings, electronics, chemical, etc., which is fueling it global demand. The booming electronics industry and pharmaceuticals industry are also pushing the demand for graphene.
The usage of graphene can open up avenues for innovation, next-gen technology, and development of new applications. Therefore, players are investing in the market to procure graphene. Other factors responsible for the growth of the Global Graphene Market are electrical conductivity, heat resistance, research & development, etc.
Some of the factors that are responsible for slashing the growth of the Graphene Market are the nascent stage of commercialization, high initial cost, flammability, environmental concerns, increased capital investment, vigorous research & development requirement, etc.
Global Graphene Market Segmentation:
By Types, Global Graphene Market is segmented into graphene oxide (GO), graphene nanoplatelets (GNP), few-layer graphene (FLG), mono-layer & bi-layer graphene, and, others (3D graphene foams, pristine graphene). Graphene oxide will exhibit excessive growth which can be attributed to factors such as low cost, solubility, easy production, etc. GO can be used in wide range of applications such as electronic devices, biotechnology, catalytic oxidation, surfactant in industrial applications, etc. which has catapulted its demand in the market. Graphene nanoplatelets segment will witness high demand owing to its wide application and cheap cost.
By End User Industry the market has been segmented into automotive, aerospace, pharmaceutical, energy, coatings, electronics, chemical, and, others (composite, catalysts, filtration, adhesives). The energy segment will grow exponentially during the projection period owing to factors such as the evolution of ultra-efficient solar panels, increasing demand of efficient energy-storage capacity materials and recovery solutions by lithium-ion (Li-ion) batteries producers.
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By Region, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and, Middle East & Africa. The North America segment is dominating the global market owing to high demand from various end-user industries such as electronics, aerospace, etc. The major contributors in this segment are the U.S., Canada, and, Mexico. The demand for GO will drive the growth in this segment due to easy availability and a wide range of applications. The North America segment will continue to dominate the market throughout the forecast period. The Asia Pacific segment holds the second place in the market in terms of market share and control. The growth in this segment can be attributed to increasing demand in industries such as aerospace, automotive, and, chemical. Other factors responsible for the thriving market in the Asia Pacific Segment are the prevalence of emerging economies, cheap labor cost, increasing number of manufacturing units, etc. The primary revenue contributor in this segment is China which is also a significant source of graphite due to widespread graphite mines in the country.
Europe accounts for the third largest share in the market with Germany, Italy, and, France being the significant contributors. Owing to various applications in industries such as automotive, aerospace, pharmaceutical, energy, coatings, electronics, chemical, etc. the Latin America and the Middle East segments will grow moderately.
The Graphene Market is flocked with numerous buyers and suppliers who are incessantly striving to gain an edge over others by filing patents, investing in research & developments, mergers & acquisitions, partnerships, collaborations, agreements, expansion of product portfolios, etc. The prominent players of the market profiled in the report by MRFR are CVD Equipment Corporation (U.S.), Graphene NanoChem (U.K.), Graphene Laboratories, Inc. (U.S.), BGT Materials Limited, Ltd (UK..), Grafoid Inc (North America), Vorbeck Materials (U.S.), XG Sciences, Inc. (U.S.), Angstron Materials, Inc.(U.S.), Graphenea Inc. (U.S.), and, Haydale Limited (U.K.).
Global Graphene Group (G3) has launched G3-Fireshield Technology to minimize the risk of ignition in EVs, portable electronics, and a range of other devices. G3’s newly introduced technology aims at eliminating Li-ion battery fires. G3 offers a graphene-protected cathode, non-flammable electrolyte, and modified separator to achieve an unrivaled level of battery safety and is compatible with multiple cathode materials which facilitates its adoption.
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