TAGS: Polymer Reinforcement
The global graphene market size is projected to reach USD 1,479 million by 2025, growing at a CAGR of 19.0%. The graphene industry is growing due to the rise in demand for graphene from various applications, globally.
The growth rate for graphene s is expected to decline in 2020 due to COVID-19. However, the end of lockdown and recovery in the end-use industries will stimulate the demand during the forecast period.
Automotive Industry: A Key Driver of Graphene
The automotive & transportation industry is the largest application industry in the graphene market in terms of volume. The graphene can be used in various applications in automotive industry such as in composite structural components, automotive batteries, tires, anti-breaking systems, among others. The increased demand from these applications is expected to drive the graphene market during the forecasted period.
Graphene is termed a wonder material by various researchers due to its exceptional properties. A large number of universities, research institutes, and companies are focusing on the R&D of graphene materials to make it commercialize and create cost-effective manufacturing technology for graphene. Continuous R&D for making graphene more efficient and flexible is going on for new applications.
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The mass production of high-quality and defect-free graphene is still a restraint for all graphene manufacturers as the manufacturing process of graphene is cost-intensive and time-consuming. Maintaining the quality and up-scaling the graphene production at the same time are difficult. In case of any defects on the graphene monolayer carbon network, the properties of graphene such as electrical conductivity, transparency, thermal conductivity, and impermeability are damaged, which hamper the quality of graphene.
APAC to Register Highest CAGR
APAC is projected to register the highest CAGR in terms of value in the global graphene market during the forecast period. The increasing R&D activities in the region coupled with increasing demand from automotive & transportation and electronics end-use industry in the region is driving the market growth. APAC is a combination of both emerging markets and developed economies; the growth potential in the region is unlike anything seen before.
For producing high-quality monolayer and few-layer graphene, the CVD process is used, and it is difficult to attend mass production with the CVD process. These factors restrict the mass production of graphene and lead to a higher cost of production.
Key Market Players
The key players in the global graphene market are:
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NanoXplore Inc. (Canada),
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Graphenea SA (Spain)
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Avanzare Innovacion Tecnologica S.L. (Spain)
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Global Graphene Group (US)
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Directa Plus S.p.A. (Italy)
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Changzhou Sixth Element Materials Technology Co., Ltd. (China)
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Ningbo Morsh Technology Co., Ltd. (China)
These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the graphene industry. The study includes an in-depth competitive analysis of these key players in the graphene market, with their company profiles, recent developments, and key market strategies.
Explore Various Graphene Grades for Your Application
Source: M&M