Graphene Electronics Market Is Projected To Grow USD 1318.5 Million By 2029, at a Compound Annual Growth Rate (CAGR) of 20.8%| Valuates Reports
BANGALORE, India, Aug. 8, 2023 /PRNewswire/ -- Graphene Electronics Market is segmented by type (Graphene Transistors, Graphene Supercapacitors, Graphene Sensors, Graphene Ics & Chips, Others), by application (Batteries and ultracapacitors, Display, Sensors, Electro Mechanical Systems (EMS), Solar Cells, Others): Global Opportunity Analysis and Industry Forecast 2023-2029. It is published in Valuates Reports under the Engineering & Technology Category.
The global Graphene Electronics market is projected to grow from USD 424.3 million in 2023 to USD 1318.5 million by 2029, at a Compound Annual Growth Rate (CAGR) of 20.8% during the forecast period.
Major Factors Driving The Growth Of Graphene Electronics Market
One of the key factors promoting market expansion is anticipated to be the rising demand for graphene in electronics. Vendors of graphene electronics are seeing explosive growth due to the spike in demand for flexible, transparent, and highly effective products for applications including electronic displays, sensors, and solar cells, among others. The growing desire for electronic devices with longer battery lives is also helping the market expand.
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TRENDS INFLUENCING THE GROWTH OF GRAPHENE ELECTRONICS MARKET
Supercapacitors are being employed as energy storage systems more frequently. With its enormous specific surface area, exceptional mechanical flexibility, and exceptional electrical properties, graphene makes an excellent contender for the next generation of high-performance wearable and portable gadgets. The electrical conductivity of graphene is greater than that of lithium-ion batteries. This makes it possible for cells to deliver extremely high currents while also charging more quickly. This is very helpful for large automotive batteries or quick device-to-device charging, for instance. Batteries that have high heat conductivity also operate cooler, extending their life even in small cases like a smartphone. This factor is expected to drive the Graphene Electronics Market. Furthermore, compared to current lithium-ion cells, graphene batteries are lighter and thinner. This translates to slimmer, more compact gadgets or capacities that don't require more space.
OLED and MicroLED displays, as well as backplanes, electrodes, and emitters, can all benefit from the use of graphene. Additionally, graphene can enhance designs and boost OLED lighting device efficiency. In electrical gadgets like smartphones, display components use the most power. To display images and videos on portable devices, power is typically converted into light, which consumes a lot of energy. The demands of virtual reality (VR) applications higher resolution displays with fewer pixels that can change their color more quickly and with less power—cannot be met by standard technologies. With the demands of contemporary portable devices in mind, interferometric modulator displays (IMODs) are an emerging technology for displays that have low power consumption and great performance in bright conditions. This factor is expected to drive the Graphene Electronics Market.
Recently, improved access to renewable energy sources has grown to be a top priority for developing nations. Scientists are constantly exploring new ways to create effective energy-generating systems, with solar energy at the forefront of the government's attempts to develop new technology. One-atom thick sheets of carbon known as graphene are a relatively new material that has drawn attention for their effective properties. Due to graphene's exceptional conductivity and transparency, it is ideal for solar cells because they need materials that are both conductive and transparent. Although graphene is a fantastic conductor, it is not very effective in capturing the electrical current generated inside the solar cell. This factor is expected to drive the Graphene Electronics Market.
Because of the unique structure of graphene, the resulting properties can satisfy the needs of high-performance sensors. Consequently, graphene materials have been used in a variety of cutting-edge sensor materials recently. The significance and specific applications of graphene-based sensors in fields such as biomedicine, photoelectrochemistry, flexible pressure, and others are discussed in this paper. It also discusses the challenges associated with using graphene materials in sensors. This factor is expected to drive the Graphene Electronics Market.
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GRAPHENE ELECTRONICS MARKET SHARE ANALYSIS
In terms of revenue, the batteries sector dominated the market, and it is anticipated that this trend would continue during the projection period. However, throughout the forecast period of 2022–2031, the solar cell category is anticipated to become the market's fastest-growing section.
With a market share of% in 2022, the graphene supercapacitors sector is the market leader globally. It is made of a thin coating of pure carbon. Due to its extraordinary strength, light-absorbing materials are frequently employed in electronic applications such as energy production, grid power support, automotive, and consumer products.
The region with the biggest market share for graphene electronics in 2022 was North America. The main drivers influencing market growth are technological advancements and a preference for energy-efficient products. The market expansion in this region is being fueled by the expanding population, rising IoT device usage, and the presence of significant research universities. The USA is a nation with a sizable graphene production business in this area.
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Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Key players
AMG Advanced Metallurgical Group (Netherlands), Applied Graphene Materials Plc. (U.K.), Grafoid Inc. (Canada), GrafTech International Ltd. (U.S.), Graphene Frontiers LLC (U.S.), Graphene Laboratories Inc. (U.S.), Graphene Square, Inc. (South Korea), Graphenea SA (Spain), Haydale Limited (U.K.), Samsung Electronics Co., Ltd. (South Korea), IBM Corporation
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SIMILAR REPORTS
- Due to the COVID-19 pandemic, the global Synthetic Graphite market size is estimated to be worth USD 8833 million in 2022 and is forecast to a readjusted size of USD 10920 million by 2028 with a CAGR of 3.6% during the review period.
- Special Graphite market was valued at USD 1423 million in 2022 and is anticipated to reach USD 2330.5 million by 2029, witnessing a CAGR of 5.5% during the forecast period 2023-2029.
- Amorphous Graphite market was valued at USD 123.4 million in 2022 and is anticipated to reach USD 219.2 million by 2029, witnessing a CAGR of 9.2% during the forecast period 2023-2029.
- Expandable Graphite market was valued at USD 183.8 million in 2022 and is anticipated to reach USD 312.4 million by 2029, witnessing a CAGR of 7.2% during the forecast period 2023-2029.
- Graphene Nano Platelets (GNPs) Electronics Market
- 3D Hot Bending Glass Graphite Mold Market
- Battery-Grade Graphite Market
- Graphene Baseboard Heater Market
- Reduced Graphene Oxide Market
- Graphene Anticorrosion Coating Market
- Graphene Transparent Electrode Film Market
The global Supercapacitor market was valued at USD 2445.2 million in 2022 and is anticipated to reach USD 8878.4 million by 2029, witnessing a CAGR of 20.0% during the forecast period 2023-2029.
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