Press release
Applied Graphene Materials, XG Sciences Profiled in Graphene Market 2018-2024 | Leading Manufacturers – Graphenea, Grafoid Inc. & Graphene Frontiers
Graphene Market
Conductive composites, electrical packaging, epoxy adhesives, fiber laminates and advanced coatings are some of the graphene-based materials gaining popularity in aerospace sector in the recent years. The large commercial airplane number is probable to rise over 1,680 units by the end of 2024, from less than 1,450 units as recorded in 2016. These traits present brighter growth aspects for the overall graphene market over the forecast period.
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Rising investments in new product development in electronics & telecommunication sector also feature promising gains for the global graphene market expansion in the coming years. The product has been widely used in manufacturing low noise, high bandwidth and high power electrically conductive materials, memory chips & touch screens for smartphones. Extensive research initiatives by the industry participants will create significant opportunities for other novel graphene applications which will boost the product market growth by 2024.
Considering the product type based market segmentation, graphene oxide is expected to be the crucial segment in global graphene market in the forecast period. It is likely to contribute to about 40% of the overall market revenue in 2024 and will be the fastest growing segment. The rise is attributed to its wide usage in biotechnology, electronic equipment, solar cells, etc.
- Graphene Market by Product
• Graphene oxide
• Graphene nanoplatelets
• Mono-layer & bi-layer graphene
• Others
- Graphene Market by End-user
• Electronics
• Aerospace & defense
• Energy
• Automotive
• Healthcare
• Others
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The foremost end-user industries studied in the report include automotive, aerospace & defense, electronics, healthcare, and energy. By 2024 aerospace & defense will account for around 15% revenue share for its increasing applications in the manufacturing aircraft components. The healthcare segment will register revenue about USD 20 million in the forecast period. The segment will observe significant demand for graphene in drug transfer systems, biosensors, cancer treatment tissue and engineering in the near future.
Geographically, North American region is expected to lead the market with 40% share of the global market revenue by 2024. Mounting defense expenditure in the U.S. in addition to the advances in the automotive and electronics sectors will complement the industry growth. The regional market is set to grow with CAGR over 35% over the forecast timeframe owing to the manufacturing expertise and availability of raw materials in North America.
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Key market players Applied Graphene Materials PLC, Graphene Frontiers LLC, Graphenea S.A., Grafoid Inc., XG Sciences, Inc., Haydale Limited, ACS Materials LLC, Nanjing XFNANO Materials Tech Co., Ltd, Xiamen Knano Graphene Technology Corporation Limited, Applied Nanotech, Inc., Angstron Materials, Inc., Thomas Swan & Co., Advanced Graphene Products Sp. z o.o., Graphene Laboratories, Inc and AMO Gmbh.
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