Graphene Market Analysis

Graphene Market Analysis

Graphene market from electronics segment will generate around USD 370 million by 2030. The electronics industry has been a major contributor to drive the revenue generation owing to its application in producing laptops, computers, and microchips. Graphene possesses versatile properties and demonstrates superior strength, toughness, durability, and conductivity for various end uses upon combination with other products. Rapid advancements in the electronics industry, primarily in North America, due to the rapidly evolving consumer demand owing to strong socio-economic factors will support industry expansion during the forecast period.

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The graphene market form graphene oxide segment is expected to grow at a CAGR of 32% during the forecast period. Graphene is versatile in terms of its properties as its oxidized form can be deposited onto any substrate. It finds extensive applications across the electronics industry for producing batteries, solar cells, and capacitors, which are in high demand across several types of machinery and equipment. Moreover, it is used to enhance the characteristics of composite materials, which are primarily used across the automotive industry to produce lightweight vehicle parts owing to its excellent properties including high tensile strength, conductivity, and elasticity.

Ongoing research & development activities are providing a positive outlook for industry expansion over the study period. Industry players are focusing on improving technologies, harnessing graphene for commercial applications, and increasing their business shares. Additionally, graphene is expected to replace several traditionally used materials in the long run, which will significantly improve product operation & efficiency. Scientists from around the globe are studying various properties and altering the core functionalities of the material for improving its functionality. For instance, in 2019, a team of scientists from India and the U.S. published a research report that focuses on reversible defect engineering capabilities in graphene grain boundaries. It paved the way for diversified graphene applications by intentionally altering the defects during its production.

The automotive segment will hold over 15% share in graphene market by 2030. The automotive industry is focusing on manufacturing vehicles that are lighter in weight and yet to meet the mandatory safety standards. Automotive manufacturers are expected to increase the use of composites on a large scale to produce superior-quality lightweight vehicles. Graphene is being used to manufacture smart adhesives, nanocomposites for integrated sensors, and other automotive components that are likely to be commercialized in the near future.

North America graphene market is poised to surpass USD 390 million by 2030. It is likely to stay at the forefront of the graphene industry owing to its strong adoption in high composites that are extensively used across automotive and aerospace & defense industries to manufacture lightweight cars and aerospace components, respectively without compromising on safety. High investments in the region’s advanced electronics field due to rapidly evolving customer demands, which can be attributed to the region’s strong spending power, are likely to make a prominent contribution to regional industry expansion during the forecast period.