Global graphene market forecast to reach $552.3 million by 2025
A Report by Grand View Research, Inc. says that the worldwide graphene market is forecast to reach $552.3 million by 2025. Grand View Research is a US-based market research and consulting firm with headquarters in San Francisco, California.
Report authors anticipate the market to expand at a CAGR of thirty-eight percent over the next six years. CAGR stands for Compound Annual Growth Rate.
Increasing demand for ‘smart’ consumer electronics will probably be the main driver of the expected growth.
Global graphene market – emerging economies
Growing consumption of consumer goods in Thailand, India, and China is likely to boost the size of the market considerably. The authors believe that new product launches will also contribute.
China’s government has made considerable investments in the R&D of graphene nanoplatelets. It has also significantly boosted their production.
“The industry witnesses the presence of numerous startups that are focusing primarily on research and development to understand the full potential of graphene.”
“For instance, Graphenea, a Spain based company, is engaged in developing and supplying graphene oxide to various research groups and large multinationals for their product development efforts.”
Global graphene market – other key findings
- The authors predict CAGR of 38.4% in terms of revenue in electronics application (2017-2025).
- Graphene oxide is predicted to grow by more than 47% (CAGR) in volume terms (2018-2025).
- The Asia-Pacific region will most likely experience the fastest growth rate from now until 2025.
- There will be several major collaborations and partnerships between research institutes and companies.
In a Report Summary, the authors made the following comment regarding the global graphene market:
“By region market is segmented into North America, Europe, Asia Pacific, and RoW. In terms of graphene technology market value, North America has held the largest market share.”
“Asia Pacific, especially China, is expected to be the fastest growing market. Demand in Europe (Germany and U.K.) and Rest of the World, especially Latin America and Middle-East, may experience high growth.”
What is Graphene?
Graphene is the lightest, strongest, and thinnest material in the world. Being just one atom thick, scientists view it as a two-dimensional material. It is also surprisingly flexible; an unusual trait given its super-strength.