Graphene Market worth over $200 million by 2024
Published Date: July 21, 2017 Author: Global Market Insights, Inc.
Graphene Market size will surpass USD 200 million by 2024; according to a new research report by Global Market Insights, Inc.
Increasing product use in automotive & aerospace industries will boost the graphene market development throughout the forecast timeframe. The rising demand for light-weight and energy-efficient vehicles will fuel the industry in coming years as graphene can be used to manufacture fiber reinforced laminates that can act as a substitute for conventional automotive component materials. These laminates help to decrease the vehicle weight without compromising on its strength and safety. Lighter vehicles have better fuel economy and help reduce the carbon footprint. Product-based electrically conductive adhesives are fast replacing conventional anti-corrosion coatings such as electrophoretic coating in vehicles. This will also propel the product market demand for the automotive industry and will augment the graphene market development till 2024.
Rising demand for lighter, faster, and fuel-efficient aircrafts will also boost the graphene market development as the product-based composites are being increasingly used for manufacturing aircraft components. Fiber-reinforced laminates, electrically conductive composites & coatings, epoxy adhesives, advanced coatings, and electrical packaging are some product-based materials that are becoming popular in the aerospace industry. The number of large commercial aircrafts is expected to rise from 1,430 units in 2016 to more than 1,680 units in 2024. This will influence the graphene market positively throughout the forecast timeframe.
Growing R&D investments and product usage in the electronics and telecommunication sector will provide a tremendous opportunity for the graphene market development. The product can be used to manufacture high bandwidth, low noise, and high power electrical components owing to its many favorable properties. The product is already used to manufacture touch screens and memory chips for mobile phones and other electronic gadgets. Extensive research will enable the product usage in other applications in the future and will augment the graphene market development.
Browse key industry insights spread across 85 pages with 92 market data tables & 11 figures & charts from the report, “Graphene Market Size By Product (Graphene Oxide, Graphene Nanoplatelets, Mono-layer & Bi-layer Graphene), By End-user (Electronics, Aerospace & Defense, Energy, Automotive, Healthcare), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
Graphene oxide is a key product segment in the graphene market which will account for around 40% of the total industry revenue share in 2024. The segment will grow with a CAGR above 35% in the forecast spell owing to its extensive usage in electronic equipment, biotechnology, as a surfactant and in catalytic oxidation. Due to a single-atomic layer structure, graphene oxide is used as electrode material for batteries, capacitors, and solar cells. This will boost the segment demand in the electronics and power sector and will boost the graphene market growth in the forecast spell.
The major end-user industries in the graphene market include aerospace & defense, automotive, electronics, energy, and healthcare. Aerospace & defense is an important end-user which will hold around 15% of the total industry revenue share in 2024. The segment will gain by around 35% CAGR in the forecast spell owing to increasing product use in the manufacture of aircraft components. Healthcare segment is also a significant end-user and will generate revenue above USD 20 million by 2024. Growing product demand for manufacturing biosensors, drug delivery systems, tissue engineering, and cancer treatment will fuel this segment’s growth in coming years.
North America is a key region for the graphene market which will occupy more than 40% of the total industry revenue in 2024. Developments in the regional electronics and automotive sector coupled with growing defense spending in the United States will augment the industry. Availability of raw materials and increasing manufacturing expertise in the region will enable the North America graphene market to grow by more than 35% CAGR in the forecast span.
There are many small and large manufacturing companies in the overall graphene market which are Applied Graphene Materials, XG Sciences, Graphenea, Grafoid Inc., Graphene Frontiers, Advanced Graphene Products, ACS Materials, Applied Nanotechm, Haydale Limited, Angstron Materials, Nanjing XFNANO Materials Tech, Graphene Laboratories, AMO Gmbh, Xiamen Knano Graphene Technology, and Thomas Swan & Co. Graphene market participants are gaining a competitive edge over their rivals through acquisitions & mergers, new product developments and R&D investments.
Graphene market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD million from 2013 to 2024, for the following segments:
Graphene Market by Product
- Graphene oxide
- Graphene nanoplatelets
- Mono-layer & bi-layer graphene
Graphene Market by End-user
- Aerospace & defense
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- Latin America
- South Africa