The graphene market is projected to reach 1,88.8 million by 2030. The major factors behind the growth of this market are, growing demand for graphene from electronics and electrical applications, and also the rising demand from medical industry for new application.
Based on form, the power category had the largest market share in recent years. This can be credited to the usage of its powder form in several technology, such as, printing and storage batteries. Additionally, it is way easier to handle powdered graphene in comparison of its dispersion and flake form.
Based on application, the biomedical category is projected to grow with the fastest pace in coming time. This can be credited to the increasing demand of graphene in manufacturing of cholesterol, hemoglobin and glucose-measuring bioelectric sensory equipment’s, mainly because this material is strong and thin. Furthermore, IT is also used in the DNA testing, cancer treatment and prosthetic devices.
APAC had the largest market share of graphene market in recent time, and it is expected to dominate the market in coming years also. This can be accounted because of growing acceptance of graphene for applications in composite materials for electrical & electronic devices, and automotive vehicles & lightweight aircraft, mainly in countries like India, China and numerous Southeast Asian nations; and the rising per-capita income in the APAC region.
Commercialization of graphene has increased in past years, credited to several factors like, R&D for its new applications and growing availability of graphene across the globe. Moreover, many graphene forms, such as graphene sheets and graphene flakes, have also started to be used in digital displays, sports goods, conductive inks, and automotive coatings, among others, initially graphene was used for lab testing only.
Graphene is majorly used in electronics and electrical industry, credited to the usage of this in transistors, microchips and print circuits. Due to its favourable qualities, like high strength and electrical conductivity. Because of its increasing usage in flexible devices the demand for graphene is surging. This is because of the special properties of graphene that allow the devices to be folded or rolled as per needed and exceptional chartersticks provided by graphene-based electronic devices.
The increasing adoption graphene for applications in composite materials for electrical & electronic devices, and automotive vehicles & lightweight aircraft, and also the commercialization of graphene are the major drivers of this industry, and such factors also shows the growing future.