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Graphene Electronics Market Report 2024 - Graphene Electronics Market Demand And Growth
Graphene Electronics Market
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According to The Business Research Company's, The graphene electronics market size has grown exponentially in recent years. It will grow from $1.02 billion in 2023 to $1.36 billion in 2024 at a compound annual growth rate (CAGR) of 32.7%. The growth in the historic period can be attributed to government support for environmental conservation, electrification of transportation, graphene's thermal conductivity, graphene's thermal conductivity, and graphene's use in nanotechnology.
The graphene electronics market size is expected to see exponential growth in the next few years. It will grow to $4.22 billion in 2028 at a compound annual growth rate (CAGR) of 32.8%. The growth in the forecast period can be attributed to the growing demand for energy-efficient products, increasing IoT device usage, growing use in consumer electronics, increasing demand for electric vehicles, and growing need for low-cost composite lighter alternatives to carbon fiber in various electrical gadgets. Major trends in the forecast period include advancements in technology, demand for high-capacity rechargeable batteries, thriving portable electronics, product extensions, and research and development activities.
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Market Drivers and Trends:
The increasing demand for electric vehicles is expected to propel the growth of the graphene electronics market going forward. Electric vehicles (EVS) are vehicles that are propelled by one or more electric motors. The demand for electric vehicles is increasing due to improved battery technology, expanding charging infrastructure, and increasing model availability. The integration of graphene electronics in electric vehicles holds the potential to revolutionize the industry by providing higher efficiency, better performance, longer battery life, faster charging, and enhanced safety. For instance, in March 2022, according to an article published by the Department of Energy, a US-based government agency, sales of new light-duty plug-in electric vehicles, encompassing both all-electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs), nearly doubled from 308,000 in 2020 to 608,000 in 2021. Therefore, the increasing demand for electric vehicles is driving the growth of the graphene electronics market.
Major companies operating in the graphene electronics market are developing graphene field-effect transistor (GFET) devices to enhance performance, efficiency, and miniaturization in next-generation electronic devices. Graphene field-effect transistors (GFETs) represent a cutting-edge technology in the field of electronics, offering significant advantages in terms of speed, flexibility, and thermal management. For instance, in January 2022, Graphenea Inc., a Spain-based company that manufactures graphene-based chips and materials, launched the GFET-S30 for sensing applications. This chip leverages Graphene's proprietary High-K Metal Gate (HKMG) process flow to provide 30 back gated graphene devices distributed in a grid pattern on the chip.
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• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
AMG Advanced Metallurgical Group N.V., NanoXplore Inc., Skeleton Technologies GmbH, CVD Equipment Corporation, Vorbeck Materials Corporation, Directa Plus Spa, Versarien PLC, Grafoid Inc., Platonic Nano Tech, Graphene Platform Corporation, Graphenea Inc., Global Graphene Group, First Graphene Ltd., XG Sciences Inc., Crayonano AS, Graphene Square Inc., BTCorp Generique Nano Pvt, Ad-Nano Technologies Pvt ltd., HydroGraph Clean Power inc., Haydale Graphene Industries PLC, Paragraf Ltd., Angstron Materials Inc., Graphmatech AB, Cambridge Graphene Centre, Applied Graphene Materials Plc
Graphene Electronics Market 2024 Key Insights:
• The graphene electronics market size is expected to see exponential growth in the next few years. It will grow to $4.22 billion in 2028 at a compound annual growth rate (CAGR) of 32.8%.
• Rising Demand For Electric Vehicles Drives Growth In The Graphene Electronics Market
• GFET Devices To Drive Next-Generation Performance And Miniaturization
• North America was the largest region in the graphene electronics market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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