The global graphene market size is expected to reach USD 1,955.9 million by 2028 according to a new study by Polaris Market Research. The report “Graphene Market Share, Size, Trends, Industry Analysis Report, By Type; By End-Use (Electronics, Energy, Automotive, Aerospace and Defense, Healthcare & Pharmaceutical); By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for graphene is expected to increase during the forecast period from the automotive and electronics industries. Rising industrialization, growing urbanization, and increasing demand for lightweight materials drive the market growth of the material. The growing use of renewable energy sources and the increasing use of the product in fuel-efficient vehicles support industry growth.
The utilization of the material has increased in applications such as aerospace, automotive, healthcare, energy, and power owing to properties such as high strength, high electrical and thermal conduction, lightweight, and flexibility. Graphene is also being used during the pandemic to develop face masks and PPE kits, bio sensors-based testing, protective equipment, drug delivery solutions, and treatment systems on account of its properties such as flexibility, conductivity, and antibacterial & antivirus efficacy.
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The different types of graphene available in the market include sheets and films, monolayer & bi-layer, few-layer, nanoribbons, nanoplatelets, oxide, and others. The demand for nanoplatelets is expected to increase during the forecast period.
The product is used in diverse industries such as electronics, energy, automotive, aerospace and defense, healthcare and pharmaceutical, and others. The electronics segment accounted for the highest share in 2020. The increasing application of the product in touchscreens, optical electronics, conductive inks, and supercharged batteries has boosted the growth of this segment.
The material is utilized in the development of wearable technology owing to its superior mechanical properties and conductivity. Technological advancements and an increase in the sale of mobile devices have resulted in increased applications of the material.
Polaris Market Research has segmented the graphene market report on the basis of type, end-use, and region:
Graphene, Type Outlook (Revenue, USD Million, 2016 - 2028)
Graphene, End-Use Outlook (Revenue, USD Million, 2016 - 2028)
Graphene, Regional Outlook (Revenue, USD Million, 2016 - 2028)