Press release
Future Growth of Graphene Market 2024 Global Analysis By Key Players - XG Sciences, Graphenea, Grafoid Inc., Graphene Frontiers, Advanced Graphene Products, ACS Materials, Applied Nanotechm, Haydale Limited, Angstron Materials, Graphene Laboratories, AMO
Graphene Market, Global Graphene Market Size, Graphene Industry, Graphene Market Trends, Graphene Market Share
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. Graphene Market size will surpass USD 200 million by 2024; according to a new research report.
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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.
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.
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.
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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.
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.
Table of Content:
Chapter 1. Graphene Market Methodology and Scope
Chapter 2. Graphene Market Executive Summary
Chapter 3. Graphene Industry Insights
Chapter 4. Graphene Market, By Product
Chapter 5. Graphene Hydrosulfite Market, By End-user
Chapter 6. Graphene Technologies Market, By Region
Chapter 7. Graphene Market Company Profiles
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Related Report:
Global Graphene Market Outlook 2017-2022
Graphene is an allotrope of carbon in the form of a two-dimensional, atomic-scale, hexagonal lattice in which one atom forms each vertex. It is the basic structural element of other allotropes, including graphite, charcoal, carbon nanotubes and fullerenes. It can be considered as an indefinitely large aromatic molecule, the ultimate case of the family of flat polycyclic aromatic hydrocarbons.
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