New York, Aug. 04, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Graphene Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” – https://www.reportlinker.com/p06311655/?utm_source=GNW
Presently, with the resumption of operations in major end-user industries, the market recovered significantly in 2022.
Over the medium term, rising demand for printed electronics is expected to drive the market.
However, drawbacks associated with graphene is hindering the growth of the market studied.
Development of single crystal graphene sheet as a substitute for copper foil and increasing use of graphene in touch screens are likely to act as opportunities for the studied market.
The Asia Pacific accounts for the highest market share and is expected to dominate the market during the forecast period.
Key Market Trends
Electronics Industry to Dominate the Market
Electronics and telecommunications is the largest end-user industry for graphene and its derivative products. In electronics and telecommunications, graphene is used for various applications, including unbreakable touchscreens, transistors, supercharged batteries (enhanced lithium-ion batteries), optical electronics, printed electronics, and conductive inks, among others.
The electronics industry is continuously making remarkable progress and development, and the demand for the market studied is growing rapidly. The production of cellular phones, portable computing devices, gaming systems, and other personal electronic devices will continue to spark the demand for electronic components, which is expected to boost the demand for graphene.
In addition, graphene is set to modernize the smartphone industry by replacing existing touchscreen technology. Graphene is considerably cheaper than the materials used in most modern smartphones and is much more agile. Graphene is used on a commercial scale in optoelectronics, specifically touchscreens (for smartphones, tablets, desktop computers, and televisions), liquid crystal displays (LCD), and organic light emitting diodes (OLEDs).
Germany has the largest electronic industry in Europe. According to Germany electrical and electronic association, the country’s electricity and electronic production have declined by about 6% to about EUR 182 billion in 2020. However, in December 2021, the sales of the domestic electro and digital industry in Germany amounted to EUR 18.1 billion, registering a growth rate of 8.5% compared to December 2020.?
India is expected to have a digital economy of USD 1 trillion by 2025, and India’s electronics system design and manufacturing (ESDM) sector is expected to generate over USD 100 billion in economic value by 2025. Electrical and electronics production in India is expected to increase rapidly due to government initiatives with policies, such as Make in India, National Policy of Electronics, lowering import dependence, energizing exports, and manufacturing, like the “Make in India” program to make the country self-reliant.??
Due to the above mentioned factors the demand for electronic goods is set to increase in the forecasted period thereby resulting in the increase for demand for graphene.
Asia-Pacific Region to Dominate the Market
The Asia pacific region accounts to the largest share in the graphene market. Owing to rapid industrialization, and rising graphene-based application patents in the Asia-Pacific region graphene oxide is anticipated to register high growth.
China has one of the world’s largest electronics production bases and offers tough competition to the existing upstream producers, such as South Korea, Singapore, and Taiwan. Electronic products, such as smartphones, OLED TVs, and tablets, have the highest growth rates in the consumer electronics segment of the market, in terms of demand.
According to IATA (International Air Transport Association) report, India is poised to become the third-largest aviation market in the world by the end of the forecast period. The country is projected to have a demand for 2,100 aircraft over the next two decades, amounting to over USD 290 billion in sales. ?Owing to these factors, the demand for graphene from the aerospace sector is expected to rise in the coming years.
According to the Stockholm International Peace Research Institute (SIPRI), China, the world’s second-largest spender, allocated an estimated USD 293 billion to its military in 2021, an increase of 4.7% compared with 2020. The 2021 Chinese budget was the first under the 14th Five-Year Plan, which runs until 2025.
In December 2021, Photovolt Ukushima Solar PV Park is a 480MW solar PV power project planned in Nagasaki, Japan. The project is currently in permitting stage. It will be developed in a single phase. Post completion of the construction, the project is expected to get commissioned in July 2023.
Hence, owing to the above-mentioned trends Asia Pacific is likely to dominate the market studied during the forecast period.
The graphene market is consolidated, among the top few players. Some of the major players in the market include NanoXplore Inc., Morsh, Sixth Element (Changzhou) Materials Technology Co., Ltd., XG Sciences, Inc., and Global Graphene Group, among others.
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Read the full report: https://www.reportlinker.com/p06311655/?utm_source=GNW
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