The global graphene market is expected to expand CAGR of over 70%, (both in terms of volume and revenue) through the forecast period. The major factors driving the market studied are the rising demand for printed electronics and graphene aiding in the war against COVID-19.
New York, Sept. 23, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Graphene Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05891596/?utm_source=GNW
- Various factors, like the lack of commercial production, are expected to hinder the growth of the market studied.
- Asia-Pacific dominated the market, holding a share of around 60%. This was primarily due to the rising demand from electronics and telecommunication, and healthcare industries.
Key Market Trends
Electronics & Telecommunication Industry to Dominate the Market
- Electronics and telecommunications is the largest end-user industry for graphene and its derivative products. Graphene is used in a wide range of applications in both, electronic and telecommunication industry.
- In electronics and telecommunications, graphene is used for various applications, including unbreakable touchscreens, transistors, supercharged batteries (enhanced lithium-ion batteries), optical electronics, printed electronics, and conductive inks, among others.
- Over the last few years, widespread research into the properties and applications of graphene has been observed, and the material has been proposed as a potential replacement for silicon in many electronics applications.
- Graphene has several useful properties that include high mechanical strength, very high electron mobility, and superior thermal conductivity.
- Conventional battery electrode materials (and prospective ones) are significantly improved when enhanced with graphene. Graphene can make batteries that are light, durable, and suitable for high capacity energy storage, as well as shorten charging times while extending the battery’s lifetime.
- In addition, graphene is set to modernize the smartphone industry by replacing existing touchscreen technology. Graphene is considerably cheaper than the materials used in most modern smartphones and is much more agile. Graphene is used on a commercial scale in optoelectronics, specifically touchscreens (for smartphones, tablet, desktop computers, and televisions), liquid crystal displays (LCD), and organic light emitting diodes (OLEDs).
- Overall, the various potential applications of graphene in electronics and telecommunications are projected to increase the consumption of graphene at an exponential rate, during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region accounted for the largest share, accounting for around 60% of the total market, with most of the demand coming from China, and it is also expected to register the highest CAGR of during the forecast period.
- China has the world’s largest electronics production base and offers a tough competition to the existing upstream producers, such as South Korea, Singapore, and Taiwan. Electronic products, such as smartphones, OLED TVs, and tablets, have the highest growth rates in the consumer electronics segment of the market, in terms of demand. With the increase in the disposable incomes of the middle-class population, the demand for electronic products is projected to increase steadily in the future, thereby, driving the market studied.
- The electronics manufacturing industry is constantly expanding in China, as a result of low cost and increasing demand for electronics products. With the increase in the disposable income of the middle-class population, the demand for electronic products is projected to grow in the near future.
- The Chinese aerospace policy represents one of the most comprehensive attempts to enter the top levels of aerospace development and production. China is expected to be the world’s largest single?country market for civil aircraft sales, over the next 20 years.
- However, China, being a major manufacturing hub across the world, has been severely affected by the recent break down of COVID-19.
- Owing to the stalling of manufacturing activities across the country, the scenario is expected to affect the global economy very widely and also the demand for the market studied in 2020.
The global graphene market is semi-consolidated, among the top few players. With continuous and active research and the development of graphene for newer and emerging applications, a lot of new players are venturing into the market, leading to a fragmented market among the small, but active players. Key players in the market include Global Graphene Group, Ningbo Morsh Technology, Sixth Element (Changzhou) Materials Technology Co. Ltd., XG Sciences Inc., and Perpetuus Advanced Materials, among others.
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