The graphene market is a significant segment of the global chemical industry. Rapid industrialization and rising usage of electronic devices are fueling the demand for the graphene market. Furthermore, the growing use of graphene in the construction sector, the expanding electronics and telecommunications industry, and the increasing demand for graphene in the aerospace and aircraft industries all contribute to the market's expansion.
In this article, we will provide an overview of the global graphene market report, highlighting recent trends and developments, and analyzing the key factors driving growth in the market.
Market Size and Segmentation:
According to the latest data, the global graphene market was valued at USD $821.2 million in 2021 and is projected to reach USD $7,555.8 million by 2028, growing at a CAGR of 37.3% during the forecast period.
The market is segmented by application, type, and geography. By application, the market is segmented into composites, functional inks, paints and coatings, energy storage, electronics, polymer additives, RFID, and others. By type, the market is segmented into mono-layer & bi-layer, graphene nanoplatelets, graphene oxide, and others. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Recent Trends and Developments:
One of the key trends in the graphene market is the rising popularity of electronic devices. Germany boasts Europe's largest electronic market. According to the German Electrical and Electronic Manufacturers' Association, electro and digital industry sales in Germany will total USD 21.03 billion in December 2021, representing an 8.5% increase over December 2020.
In 2021, Germany's electro and digital industry sales will be USD 231.89 billion, representing a 9.7% increase over 2020. The electro and digital industry increased production by 3.4% in December 2021 compared to December 2020. In comparison to the 2020 output value, industrial production increased by 8.8%.
Key Drivers of Growth:
The graphene market is being driven by several factors, including rising disposable income, increasing popularity of electronic devices, and growing demand for graphene in the construction industry. The rising electronics sector in emerging economies, as well as high penetration in composite applications, are projected to drive the market. The graphene market is also predicted to grow significantly because of increased demand for research and development from research institutes and global corporations. Graphene's critical potential applications include electronics, energy storage, biomedical technology, composites and coatings, and water and wastewater treatment.
Conclusion
The graphene market is a growing segment of the global construction industry, driven by rising demand from emerging nations. The market is expected to continue growing in the coming years, as key players are investing.
