What are Reasons behind Growth of the Global Graphene Market?


Posted June 24, 2020 by Manishbaghel

Graphene is extensively used in the biomedical, electrical and electronics, composites, and energy industries. Amongst these, the composites industry is expected to record the fastest growth in the utilization of graphene in the coming years.

 
One of the major factors fuelling the rise in the demand for graphene is the increasing utilization of this material in the medical industry. In the medical industry, graphene, owing to this high strength and thinness, is increasingly being used for the manufacturing of bioelectric sensors, which track the hemoglobin and cholesterol levels in the body. This material is also widely used in the testing of deoxyribonucleic acid (DNA) and in therapeutic tools, prosthesis devices, dental implants, and in the treatment of cancer.

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Since the last few years, there has been a huge surge in research and development (R&D) on graphene in order to combine the graphene nanomaterials with medications, nano adjuvants, and vaccine carriers. The other major factor propelling the demand for graphene is the ballooning need for this material from the electrical and electronics industry. Due to these factors, the global graphene market is predicted to advance at a CAGR of 20.2% during the forecast period (2020–2030) and observe its valuation increase from $87.5 million to $646.8 million from 2019 to 2030.

Graphene is extensively used in the biomedical, electrical and electronics, composites, and energy industries. Amongst these, the composites industry is expected to record the fastest growth in the utilization of graphene in the coming years. This is mainly ascribed to the increasing adoption of this material for the manufacturing of metal and polymer composites, owing to its high electrical conductivity and strength. Moreover, the graphene composites are increasingly being used in the production of engineering materials for the aerospace industry, medical implants, and renewables and this is further boosting the need for graphene across the world.

Across the world, North America is expected to register the most rapid growth in the usage of graphene during the forecast period. This is mainly attributed to the rising utilization of this material for the production of various types of composites that are widely used in the manufacturing of aircraft, electrical and electronic devices, and automobiles. Graphene is also being rapidly adopted in the manufacturing processes of medical devices and instruments in many countries and this is massively boosting its demand.
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Issued By Manish Kumar
Business Address Noida
Country India
Categories Business , Industry , Research
Tags graphene market , graphene market demand , graphene market forecast report , graphene market growth , graphene market outlook , graphene market share , graphene market size , graphene market trends
Last Updated June 24, 2020