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Overview:Market Research Future (MRFR) in their latest report on the Global Graphene Market declared that a robust 43% CAGR the market can expect during the coming years (2016-2023). It is also expected to climb a valuation of USD 811.4 million by the end of 2023. Graphene is an allotrope of carbon with graphite and diamond at its core. The product has significant use in nanomaterial and in other remarkable technologies. Its incorporation allows further facilitation of several high-grade technologies. It has substantially taken over automotive, aerospace, pharmaceutical, energy, coatings, electronics, chemical, and others due to which the Global Graphene Market can expect high growth in the coming years.
However, its high price can be a market deterrent. The Global Graphene Market can take a hit from its health concerns as well. The 2D model of Graphene has health issues which can make it daunting for the market to grow.
Competitive Landscape:
MRFR profiled several companies for their detailed analysis of the Graphene Market. These companies are Graphene NanoChem (UK), Angstron Materials, Inc. (US), Vorbeck Materials (US), CVD Equipment Corporation (US), XG Sciences, Inc. (the US), Graphenea Inc. (US), Graphene Laboratories, Inc. (the US), Grafoid Inc. (North America), BGT Materials Limited, Ltd (UK), and Haydale Limited (UK).
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In 2018, researchers from the University of Exeter made a new type of concrete that is greener, stronger and more durable using Graphene. Researchers believe that this may change the course of the construction sector. The final product also lessens the carbon impact on the market significantly.
Segmentation:
MRFR’s detailed analysis of the Graphene Market banks on the segmental analysis which is founded on Type and End-Users. The process aims at providing a holistic report of the said market to make the players understand the feasibility and viability of the market growth.
Based on Types, the Graphene Market can be 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 has considerable market share owing to its ease of application and popularity among the end-users.
On the Basis of End-Users, the Graphene Market can be segmented into energy, coatings, electronics, automotive, aerospace, pharmaceutical, chemical, and others (composite, catalysts, filtration, and adhesives). The energy sector is expected to gain substantially. Solar panels, Li-ion batteries are enjoying benefits of prolific applications of graphene in the energy sector.
Regional Analysis:
MRFR’s Report on the Global Graphene Market relies on North America, Asia Pacific (APAC), Europe, Latin America, and Middle East & Africa (MEA) for a region-specific analysis.
The largest market to contribute the most in the global market is North America which fetches a substantial amount for the Global Graphene Market. The market is predicted to garner considerable CAGR during the forecast period to attain remarkable valuations during the forecast period. Rapid industrialization can be attributed to the regional growth, and the regional end-user industries are amply backing the growth. In addition, the market is gaining more from groundbreaking developments taking place in the electronics and aerospace sectors of countries such as the U.S., Canada, and Mexico. The U.S. contributes the most among the North American countries.
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Like North America, Europe is set to gain substantial benefit from the Graphene’s popularity among the end-users. In addition, the strict regulatory framework, along with, technological integration in sectors can ensure significant growth during the forecast period.
The APAC ranked second in the Global Graphene Market. The region is gaining substantial traction from the availability of cost-comprehensive labor-force and exports are growing in volume owing to which the regional market is surging. Growing investments and surging standard of living are also providing enough space for the market to expand, especially in countries such as India, China, and Japan.
Europe’s market seems quite promising as end-users such as automotive and aerospace have robust infrastructure who are spurring the demand for Graphene. The pharmaceutical and energy sectors are also providing substantial market support. Germany, Russia, and the U.K. are expected to take the regional market forward in the coming years.
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