According to a new report published by Allied Market Research titled, “Graphene Market by type, application, and region: Opportunity Analysis and Industry Forecast, 2020–2027,” the global graphene market size was valued at $87.5 million in 2019, and is projected to reach $876.8 million by 2027, growing at a CAGR% of 40.2% from 2020 to 2027.
Graphene is a carbon allotrope that contains graphite and diamond, and is part of a wide area of research in the nanomaterial and high technology fields.
Graphene is precisely a single layer of carbon atoms with a two-dimensional hexagonal lattice, bound together at the atomic level via strong covalent bonds. The introduction of graphene into current end-user industries enables significant advances in technology and also empowers new applications.
"Graphene is a single layer of carbon atoms with a two-dimensional hexagonal lattice, bound together at the atomic level by strong covalent bonds," said Eswara Prasad, manager, Chemical and Materials. "Compared with its ability to conduct heat and electricity better than anything else, its amazing properties as the lightest and strongest material means it can be incorporated into a large range of applications. Therefore, the global graphene market size is expected to witness profitable growth opportunities during the forecast period."
In various end-user industries such as aerospace, automotive, pharmaceutical, oil, electronics, coatings, chemicals, and others graphene has been found.
Increasing demand from the electronics industry is likely to drive the growth of the graphene market. Growing pharmaceutical, oil, coatings, electronics, especially in North America and Asia-Pacific due to the growth of the commercial market, has increased the global graphene market over the forecast period.
Graphene nanoplatelet holds the industry’s largest graphene market share in the year 2019. In fact, it is expected to experience exponential growth in the coming years. Graphene oxide is expected to be the fastest rising consumer commodity.
The main applications of the global graphene are composites, energy storage, and electronics. The most comprehensive application section was provided by the electronics.
Furthermore, the application in electronics is expected to be one of the fastest-growing graphene market applications in the coming years.
Increasingly growing demand for cell phones and laptops is expected to boost the demand for graphene in the electronics market.