Graphene Market worth US$ 7,555.8 million by 2028 at a CAGR of 37.3% - Exclusive Report by The Insight Partners

Increasing Application Scope of Graphene to Escalate Graphene Market Growth During 2021-2028

According to our latest market study on "Graphene Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type and Application," the graphene market is expected to grow from US$ 821.2 million in 2021 to US$ 7,555.8 million by 2028; it is estimated to grow at a CAGR of 37.3% from 2021 to 2028. The report highlights key driving factors and prominent market players, along with their developments in the graphene market.
Graphene is a material consisting of carbon atoms arranged in a hexagonal manner. Its properties such as high thermal conductivity, electrical conductivity, elasticity, flexibility, transparency, resistance, and others broaden its scope of application in many industries.

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Graphene Market: Competitive Landscape and Key Developments

XG Sciences; The Sixth Element Materials Technology Co., Ltd; Global Graphene Group; NanoXplore Inc.; Graphenea, Inc.; Directa Plus S.p.A; AVANZARE INNOVACION TECNOLOGICA S.L.; Thomas Swan & Co. Ltd.; Morsh; and Perpetuus Advanced Materials PLC are among the key players operating in the market. These market players are highly focused on developing high-quality and innovative products and expanding the product portfolio to meet customers' requirements.

The increasing application of graphene in the automotive, aerospace, coatings, electronics, and other industries boosts the market growth. This can be attributed to the growing demand for lighter materials in the industries. The graphene material consists of various properties such as transparency, toughness, conductivity, due to which it is also utilized in aircraft and helicopter structures. The 2D graphene materials with an sp2 carbon atom structure possess exceptional electrical conductivity suitable for use in light and electric energy storage and conversion applications. The rising use of graphene for a wide variety of applications in developing regions such as Asia Pacific, the Middle East & Africa, and South & Central America created a huge impact on the market, with Asia Pacific contributing to the largest market share in the market.

Market Insights

Wide Application Scope of Graphene
Graphene is used for various applications, including aerospace, automotive, coatings, additive manufacture, composites, concrete and cement, conductive ink, electrochemical, electronics, energy generation, energy storage, lubricants, magnets, and medical. Graphene is used for multiple applications in the automotive industry, including composite structural components, automotive batteries, and tires. Graphene is used to produce lighter and impact-resistant aircraft & helicopter structures. Due to the high electrical conductivity of graphene, it is possible to create deicing systems integrated into the wings. Further, graphene is used to manufacture building materials, such as paints and coatings. Due to its superior electrical and thermal conductivity, graphene can help produce various conductive paints. Furthermore, in the biomedical industry, graphene finds its application for sensors, tissue engineering, and biological agents. There is also a high demand for graphene in the construction industry.

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Impact of COVID-19 Pandemic on Graphene Market

Due to the COVID-19 pandemic, many industries, such as chemicals & materials, faced unprecedented challenges because of disruptions in the global supply chain that adversely affected the manufacturing, delivery schedules, and sales of various goods. The market size for graphene has decreased due to a decline in the growth of several industrial sectors. Many production sites were either partially or fully closed to combat the spread of SARS-CoV-2. The COVID-19 pandemic also caused fluctuations in the prices of graphene. However, as the economies plan to revive their operations, the demand for graphene is expected to rise globally. The high demand and significant investments by prominent manufacturers are expected to drive the market in the coming years.

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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

This release was published on openPR.