08 October 2022
Douglas Insights has analysed various aspects of the Graphene market and revealed the changes in market trends due to increased research and development activities and the increased demand for Graphene by the automotive and transportation industries. Its comparison engine has generated many research articles and reports, making it possible for several experts, analysts, and researchers to obtain essential information relating to key growth drivers and market restraints to make predictions and provide reports offering many insights into the global recycling market. The digital tool effectively compares all existing research and Publisher Ratings, Table of Contents, and Publication Dates.
The global Graphene market is expected to see a general upward trend with a rise in CAGR by 19% by the year 2025. The market did witness some decline in the year 2020 due to the impact of the Covid-19 pandemic. Because of lockdowns, travel restrictions, and increased regulations, industries worldwide cut down their operations. The industrial automotive, transportation, electronics, and aerospace industries were among those that temporarily shut down their door, leading to a decline in the Graphene market since these industries are the top consumers of Graphene. Following the ease of restrictions, the market started to grow and expects healthy growth in the next forecast period.
The most significant application of Graphene in terms of volume of demand is in the automotive and transportation industries. Some examples of Graphene being used in these industries include its use in automotive batteries, structural components, tires, and anti-breaking systems. The increase in demand for Graphene by these industries is considered a big driver for the market.
Another very significant driver in the market for Graphene is the increase in research and development activities. Many researchers across industries believe that Graphene is very useful material. Because of this belief, there is a lot of funding for Graphene from different institutes, universities, and large companies. The research is looking into making Graphene more commercial and cost-effective, which would, in turn, increase the demand for Graphene and drive the market. Once Graphene is more readily and cheaply available, it may also be used for applications in new industries besides the transportation industry.
The biggest restraint to the Graphene market at the moment, however, is the difficulty faced in trying to mass produce Graphene. Graphene needs to be very high-quality and free from any defects in order to be used effectively in most applications. Because of this, the manufacturing process takes a long time and can be very expensive. If the Graphene is not up to the mark, many of its important qualities, such as electrical and thermal conduction, transparency, and impermeability, are affected. As a result of this higher cost of production, it is difficult to mass produce Graphene, which means that until there are technological advancements in the production process, the supply of Graphene may not be able to keep up with the rising demand for it.
Additionally, there is also the problem of the Graphene industry being relatively new, because of which there are very few standards or regulations for manufacturing Graphene. Many variations are produced by different companies, leading to industry-wide confusion and unreliable quality of the product.
As for market segmentation, the Asia Pacific region has held the highest share of the market and is expected to continue to do so in the next forecast period. Some key market players to look out for including NanoXplore Inc. (Canada), Global Graphene Group (US), Changzhou Sixth Element Materials Technology Co., Ltd. (China), Graphenea SA (Spain), Ningbo Morsh Technology Co., Ltd. (China), and Directa Plus S.p.A. (Italy).
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