Global Graphene Market Will Hit $1,188.8 Million By 2030

The graphene market is projected to reach $1,188.8 million by 2030. The major factors behind the growth of this industry are the growing demand for graphene from electronics and electrical applications, and the increasing new applications in the medical industry.

Based on form, the power category had the largest share in the recent years. This can be credited to the usage of its powdered form in several technologies, such as, printing and storage batteries. Additionally, it is easier to handle powdered graphene in comparison of the dispersion and flake form.

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Based on application, the biomedical category will grow the fastest in the coming years. This can be credited to the increasing demand of graphene in the making of cholesterol, hemoglobin and glucose-measuring bioelectric sensory equipment, mainly because this material is strong and thin. Furthermore, it is also used in the DNA testing, cancer treatment and prosthetic devices.

APAC had the largest market share of graphene market in the recent past, and it will continue its dominance also in the coming years. This is because of the growing acceptance of graphene for applications in composite materials for electrical & electronic devices, automotive vehicles & lightweight aircraft, mainly in India, China and numerous Southeast Asian nations; and the rising per-capita income of the people in the APAC region.

Graphene has improved strength and is thin, which is why it is useful for the production of bioelectric sensory equipment for monitoring hemoglobin, glucose, and cholesterol levels and, also testing DNA. Graphene is used for treating cancer cells, dental implants, prosthesis devices and therapeutic tools.

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The increasing adoption graphene for applications in composite materials for electrical & electronic devices, automotive vehicles & lightweight aircraft, and the commercialization of graphene are major drivers for the increasing demand for graphene in the world.

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This release was published on openPR.