Graphene Market size is emerging with high CAGR of 35.54% through 2026
Graphene Market growth is witnessing a 35.54% CAGR market growth over the forecast between 2020 and 2026. Growth in electronics industry along with increasing demand for lightweight and durable materials across industrial manufacturing sectors triggers the graphene market growth.
Owing to the rapid pace of innovation, advancement of technology and R&D activities across distinctive sectors creates potential Graphene market opportunities over the forecast term.
Increasing penetration of Graphene in aerospace, automotive, and medical applications with benefits of improve energy efficiency and overall performance drives the growth over the forecast period.
In addition, graphene market is attracting investments from key OEMs including IBM and Nokia as well as the European Commission over potential applications of graphene. Accordingly, patent applications and publications across graphene market are observed to be in rise contributed by collaborations between the private and government organizations.
However, barriers from mass production of graphene with limitations in production techniques for graphene are among factors hindering market growth.
Increased production across Electronic Sector drives market Graphene growth
Large consumption of graphene from optoelectronics, communication, and defence electronics systems drives the market growth. To optimize the heat dissipation performance of electronic components, key OEMs are widely adopting graphene raw materials. For instance, In 2017, Team Group, a Taiwan based manufacturer of memory solutions and accessories, introduced T-Force gaming product with graphene copper foil cooling on its SSD Module.
Graphene is being increasingly replaced by silicon in batteries, electrodes for touch screens, transparent memory technology, and transistors among other components of electronics industry.
Various research institutes and key OEMSs such as Argonne National Laboratory (ANL) & California Lithium Battery are working in collaboration to develop new graphene products for the electronics industry.
Further, Graphene Nanoplatelets is accounting for major market share with advantages of high electrical and thermal conductivity, strength, and enhanced barrier properties.
Asia Pacific peers as key graphene market player with China in Lead
Asia is the world’s largest graphene market in terms of production mainly driven by China. The market is set to be in growth phase across China driven by intense investments channelized from government and dominancy in patent filing. In addition, graphene manufacturers in China do not repay government grants while enjoying reduced infrastructure costs China consumes approximately two-third of the world graphite supply.
In addition, large consumption of Graphene by electronic sector drives the market growth across India, China, Malaysia, and Taiwan.
Increasing production capacity and enhancing product portfolio are major market trends observed across key players
Key suppliers are investing in large production of graphene to cater the demands of smartphone OEMs. For instance, in 2018, The Sixth Element Materials signed contract with Huawei phone manufacturer to supply graphene in large volumes up to 1000 tons/year, and intends to be on stream in coming years.
Further, key players are investing in enhancing product portfolio using graphene coating s and films. For instance, in 2018, Wuxi Graphene Film launched GrapheneWatch, a graphene enhanced smart health watch with CVD graphene film for touch screen application.
Key market participants of Graphene Market are Global Graphene Group, The Sixth Element (Changzhou) Materials Technology Co.Ltd., XG Sciences, Inc., Perpetuus Advanced Materials PLC, Graphene Square, Graphensic AB, 2D Carbon Graphene Material Co., Ltd., and Graphene Laboratories, Inc.