Global Graphene Market Growth Primarily Linked to Graphene's Exceptional Properties

According to Inkwood Research, the Global Graphene Market is estimated to evolve at a CAGR of 33.81% in terms of revenue during the forecasting years of 2021-2028.

"Browse 63 Market Data Tables and 52 Figures spread over 154 Pages, along with an in-depth TOC on the Global Graphene Market Forecast 2021-2028."

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Graphene is characterized as the functional unit of graphite with a layer of sp2 carbons organized in a hexagonal lattice. It surpasses graphite, its parent material, in numerous aspects. For instance, although graphite is used to reinforce steel, it is relatively brittle than graphene, owing to graphene's layered structure. However, graphene is one of the strongest materials recorded, with its mechanical performance overpowering a diamond as well as the A36 structural steel, by over a hundred times.

Graphene's Excellent Properties Drive Market Growth

Graphene possesses exceptional electronic, chemical, and mechanical properties. Besides, it is considerably stronger than steel, with the capability of moving electrons at least 200 times faster than silicon. Graphene needs lesser light energy for electron excitation, owing to its overlapped electron layers. Moreover, being strong and thin, the material can easily bend without breaking, thereby making it a preferred material for bendable electronics. It can also be used as an alternative for indium tin oxide, mainly used in phones and plasma televisions.

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Energy Storage to be the Fastest-Growing Application

Scientists and researchers are actively concentrating on developing advanced energy storage and conversion systems, primarily owing to the increasing demand for energy resources. Graphene is an ideal electrode material for electrochemical energy storage systems, due to its superior thermal and electric conductivities, large surface area, chemical stability, and mechanical flexibility. It is also used in energy storage systems like supercapacitors, lithium-ion batteries, lithium-air batteries, and lithium-sulfur batteries.

On the other hand, graphene's surface area is 2630 m2/gram, nearly representing the area of an entire football field, in around 1/500th of a pound of the material. As a result of the significant surface area, a large number of negative or positive ions in the electrolyte form a layer on the graphene sheet, thereby enabling an exceptional level of stored charge.

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Asia Pacific to Lead the Global Market by 2028

The developing economies across the Asia Pacific, the presence of cheap labor, as well as the growing manufacturing sector are attributed to the region's market growth. Besides, China leads the graphene-based patent applications, while being the primary source of graphite. The country also plays a significant role, primarily because of its research and development endeavors focusing on the commercialization of graphene and industrial partnerships. However, low product awareness is likely to hinder the adoption of graphene, in the Asia Pacific.

The industrial rivalry across the global graphene market is high. The factors influencing the competition include, the presence of fewer large players, and the less number of graphene products in the industry. For instance, with only a few leading players, the majority of small-scale companies attempt to pursue a small fragment of the market. As a result, very limited firms generate over a thousand dollars, annually. Some of the distinguished players operating in the market include, Knano Graphene Technology Co Ltd, Haydale Graphene Industries PLC, Graphenea IncNanoXplore Inc, Vorbeck Materials, etc.

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This release was published on openPR.