Graphene is an allotrope of carbon, which is single, tightly packed single layer carbon atoms in the form of hexagonal lattice. Graphene is an excellent conductor of both heat and electricity. It is very strong and light in weight. It is used as a substitute for silicon and indium. The global graphene market was 51.41 million USD in 2018 and is forecasted to reach 310.79 million USD by 2025 with a CAGR of 29.31% during the period
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Growth by Region
Asia Pacific will have highest growth during the period due to increasing use in electronics industry and availability of cheap labor. North America accounted for largest share in the market owing to rise in manufacturing industries and availability of raw materials. Europe will also contribute to global graphene market due to significant investments in R&D of graphene products.
Drivers vs Constraints
The development of automotive and telecom industries have stimulated the demand for graphene. The physical properties of graphene lead to the discovery of innovative products, which increased the demand of graphene. On the other hand, high manufacturing cost of the products hinder the growth of the market. The manufacturing process involves use of toxic chemicals, which result in the release of hazardous waste.
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Industry Structure and Updates
A University of Cambridge spinout focused on commercializing large-scale production of graphene intellectual property (IP) for electronics devices.
Archer exploration announced to develop graphene-based quantum computing tech”