Graphene Market 2019 Analysis - Global Graphene Group, Ningbo Morsh Technology, Sixth Element (Changzhou) Materials Technology , XG Sciences , and Perpetuus Advanced Materials

The global graphene market is likely to witness significant growth, at an estimated CAGR of 39.94%, over the period of 2019-2024. The major factors driving the market studied are the increasing use of graphene in touch screens and rising demand for printed electronics. Various factors, like the lack of commercial production, are expected to hinder the growth of the market studied.

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In 2018, North America dominated the market, holding a share of 35%. This was primarily due to the rising demand from electronics and aerospace, and defense industries. The US aerospace and defense industry is the largest in the world and is one of the major factors boosting market demand.
Asia-Pacific is expected to register the highest CAGR of 43% during the forecast period, owing to the robust growth in the electronics industry.

Competitive Landscape
The global graphene market is semi-consolidated, among the top few players. With continuous and active research and the development of graphene for newer and emerging applications, a lot of new players are venturing into the market, leading to a fragmented market among the small, but active players. Key players in the market include Global Graphene Group, Ningbo Morsh Technology, Sixth Element (Changzhou) Materials Technology Co. Ltd., XG Sciences Inc., and Perpetuus Advanced Materials, among others.

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Increasing Demand from Electronics & Telecommunication Industry
Electronics and telecommunications is the largest end-user industry for graphene and its derivative products. Graphene is used in a wide range of applications in both, electronic and telecommunication industry.
In electronics and telecommunications, graphene is used for various applications, including unbreakable touchscreens, transistors, supercharged batteries (enhanced lithium-ion batteries), optical electronics, printed electronics, and conductive inks, among others.
Over the last few years, widespread research into the properties and applications of graphene has been observed, and the material has been proposed as a potential replacement for silicon in many electronics applications.
Graphene has several useful properties that include high mechanical strength, very high electron mobility, and superior thermal conductivity.
Conventional battery electrode materials (and prospective ones) are significantly improved when enhanced with graphene. Graphene can make batteries that are light, durable, and suitable for high capacity energy storage, as well as shorten charging times while extending the battery’s lifetime.
In addition, graphene is set to modernize the smartphone industry by replacing existing touchscreen technology. Graphene is considerably cheaper than the materials used in most modern smartphones and is much more agile. Graphene is used on a commercial scale in optoelectronics, specifically touchscreens (for smartphones, tablet, desktop computers, and televisions), liquid crystal displays (LCD), and organic light emitting diodes (OLEDs).
Overall, the various potential applications of graphene in electronics and telecommunications are projected to increase the consumption of graphene at an exponential rate, during the forecast period.

North America Region to Dominate the Market
North America is expected to dominate the graphene market, during the forecast period, owing to the rising usage of graphene in touchscreens, and requirements in the printed electronics industry.
Strong exports of aerospace components to countries, such as France, China, and Germany, along with robust consumer spending in the United States, are driving the manufacturing activities in the aerospace industry.
According to the US Bureau of Economic Analysis (BEA), the US aerospace sector is the largest in the world, with a gross output value of USD 123.52 billion, in 2016.
According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is expected to reach 8,270 in 2037 from 7,039, in 2016, owing to the growth in air cargo. In addition, the US mainline carrier fleet is expected to grow at a rate of 54 aircraft per year, due to the existing fleet getting older.
In terms of size, the electronics market in the United States is the largest market. Owing to the use of advanced technology, an increasing number of R&D centers, and rising demand from consumers, the graphene market is expected to grow over the forecast period.
Owing to the rapid pace of innovation in the advancement of technology and R&D activities in the electronics industry, there is a high demand for newer and faster electronic products.
All the aforementioned factors, in turn, are expected to increase the demand for the market in the region.

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This release was published on openPR.