Jan 3, 2023   SOURCE: BusinessWire

Global Graphene Market Report to 2027 - Surging Demand from Construction Activities and Increasing use in Painting and Coating Drives Growth - ResearchAndMarkets.com

The "Global Graphene Market: Analysis By Material (Graphene Oxide, Reduced Graphene Oxide, Graphene Nanoplatelets, and Others), By Application (Composites, Electronics, Energy and Others), By Region Size and Trends with Impact of COVID-19 and Forecast up to 2027" report has been added to ResearchAndMarkets.com's offering.

The global graphene market was valued at US$125.84 million in 2021, and is predicted to grow to US$493.10 million in 2027. Graphene is the world's thinnest and strongest material, with outstanding thermal and electrical conductivity. Graphene is a two-dimensional material composed of a single layer of carbon atoms arranged in a honeycomb lattice pattern.

There are three types of graphene: 1) pure graphene (monolayer), which is a single atom thick, over 40 times stronger than diamond, and over 200 times stronger than steel; 2) bi-layer graphene, which is similar to pure graphene in properties; and 3) few-layer graphene.

The applications of graphene are widely acknowledged to be endless due to its exceptional thermal conductivity, electrical conductivity, mechanical strength, and high surface area. These properties can transform the properties of other materials, including composites, concrete, elastomers, and plastics. The market is expected to grow at a CAGR of 25.56% over the projected period of 2022-2027.

Companies Mentioned

  • Applied Graphene Materials
  • Directa Plus SpA
  • NanoXplore Inc
  • Haydale Graphene Industries Plc.
  • G6 Materials Corp
  • Global Graphene Group
  • Thomas Swan & Co. Ltd.
  • ACS Material, LLC
  • Graphenea Inc.
  • Grolltex, Inc.
  • BGT Materials

Market Dynamics

Drivers

  • Growing Electronics Industry
  • Surging Demand from Construction Activities
  • Increasing Use in Painting and Coating
  • Use of Graphene in Sports Equipment and Clothes
  • Increasing Use of Graphene Membranes
  • Growing Applications of Graphene in Medical Sector
  • Supportive Government Initiatives and Policies

Challenges

  • Lack of standardization
  • Limited Availability of High-quality Graphene
  • Lack of Infrastructure and Expertise

Trends

  • Increasing Demand for Electric Vehicles
  • Growing Graphene Applications in the Aerospace Industry
  • New Production Methods and Increasing Number of Filed Patents
  • Increasing Role of Graphene in the Decarbonisation

Market Segmentation Analysis:

  • By Material: The report identifies four segments on the basis of material: Graphene Oxide, Reduced Graphene Oxide, Graphene Nanoplatelets, and Others. Reduced graphene oxide segment is expected to be the fastest growing segment in the forecasted period. The product is widely used when a big amount is needed for commercial uses like energy storage. The use of reduced graphene oxide is expanding in fields like research, batteries, biomedicine, supercapacitors, and printable graphene electronics. The product is also utilized in field effect transistors (FETs), which are chemical and biological sensors. Consequently, it is anticipated that the product's availability in a variety of applications would foster the growth during the anticipated period.
  • By Application: The report identifies four segments on the basis of application: Composites, Electronics, Energy and Others. Graphene composites dominated the market in 2021, owing to their diverse applications in aerospace, automotive, coatings, metals, and plastics. By combining the potential of graphene with already-existing products, composite materials are created. In order to improve the quality and performance of sporting equipment for cycling, skiing, and other sports, graphene-based composites are used. Furthermore, due to its qualities like UV resistance, lightweight, and flexibility, the product's demand is growing in the composites application segment.
  • By Region: In the report, the global graphene market is divided into four regions: North America, Asia Pacific, Europe, and ROW. North America accounted for the maximum share of the global market in 2021. The production of graphene in North America is growing, as the material is increasingly being used in a variety of industries and applications. North America is home to several companies that are involved in the production of graphene and graphene-based products, including those in the US and Canada. The production of graphene in North America is driven by factors such as the increasing demand for materials with unique properties, the growing awareness of the environmental benefits of using graphene, and advances in manufacturing techniques.
  • The Asia Pacific market is expected to expand significantly during the forecast period. Favorable government policies, funding, and research will all contribute to the growth of the local market during this time. Additionally, the region's market is anticipated to be driven by the presence of large manufacturers and consumers as well as the increase in production across a number of sectors, including the automotive, defense, marine, and aerospace industries.

Impact Analysis of COVID-19 and Way Forward:

The COVID-19 pandemic has had a profound impact on the graphene market. The pandemic has caused many businesses to shut down or reduce their operations, which has led to a decrease in demand for many products, including those made with graphene.

Additionally, the supply chain disruptions caused by the pandemic have made it more difficult for manufacturers to obtain the raw materials and other inputs needed to produce graphene-based products.

Despite the short-term challenges posed by the pandemic, the post COVID outlook for the graphene market looks positive. The increasing demand for high-tech products and the growing need for sustainable and renewable energy solutions are expected to drive the growth of the graphene market in the coming years.

Governments around the world are also investing in research and development of graphene-based technologies, which is expected to further support the growth of the market.

For more information about this report visit https://www.researchandmarkets.com/r/cq0nor