Rapid increase in graphene producers, use of graphene in composites & coatings, and high demand in electronics applications drive the growth of the global graphene market
PORTLAND, Oregon, June 1, 2020 /PRNewswire/ -- Allied Market Research recently published a report, "Graphene Market by Type (Mono-layer & Bi-layer Graphene, Few Layer Graphene, Graphene Oxide, and Graphene Nano Platelets), and Application (RFID, Composites, Sensors, Research & Development, Energy storage, Functional ink, and Polymer additives): Global Opportunity Analysis and Industry Forecast 2020-2027". According to the report, the global graphene market was pegged at $91.3 million in 2019, and is projected to reach $1.36 billion by 2027, growing at a CAGR of 40.2% from 2020 to 2027.
Rapid increase in graphene producers, use of graphene in composites & coatings, and high demand in electronics applications drive the growth of the global graphene market. However, negative impact on the environment hampers the market growth. On the contrary, increasing key developments are expected to create lucrative opportunities for the market players.
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Covid-19 scenario: The emergence of Covid-19 has drastically impacted the global graphene industry.
- As per the United Nations Conference on Trade and Development (UNCTAD), the outbreak of Covid-19 has impacted the global FDI by 5-15%. This negative impact on FDI investment hampered the manufacturers due to dearth of raw materials and lockdown across various countries.
- As the manufacturing sector is a major part of a country's economy, the governments are focused on encouraging the manufacturing sector by increasing investments.
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The graphene nano platelets segment held the largest share
By type, the graphene nano platelets segment held the largest share in 2019, accounting for more than three-fifths of the global graphene market, owing to their wide range of applications in various sectors including aerospace, electronics, energy storage, and medical. However, the mono-layer & bi-layer graphene segment is expected to register the highest CAGR of 42.0% during the forecast period, as it is used in microelectronics applications like nano- and micro-electromechanical systems, conductive coatings, flexible batteries, and biological & chemical sensors.
The energy storage segment to portray the highest CAGR through 2027
By application, the energy storage segment is estimated to manifest the highest CAGR of 43.6% during the forecast period, owing to the use of graphene in storage solutions including electrochemical capacitors and lithium-ion batteries. However, the research & development segment held the largest share in 2019, contributing to nearly one-third of the global graphene market, due to increasing use of graphene in the development of various instruments and equipment across the globe.
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North America dominated the market in terms of revenue
By region, the global graphene market across North America held the largest share in 2019, accounting for nearly two-thirds of the market, owing to presence of a number of small- and medium-sized producers. However, the market across Asia-Pacific is expected to portray the highest CAGR of 44.3% during the study period, due to presence of a large number of producers and customers and rise in production in different industries, including automotive, defense, marine and aerospace.
Major market players
- Bluestone Global Tech
- ACS Material LLC
- Graphene Nanochem PLC
- CVD Equipment Corporation
- G6 Materials
- Graphenea S.A.
- Nanotek Instruments Inc.
- Haydale Limited
- XG Sciences
- Vorbrck Materials
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