Graphene Market Report 2024: Market Insights And Future Outlook
Graphene Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Graphene Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, July 22, 2024 /EINPresswire.com/ -- The global graphene market size has experienced exponential growth in recent years, expanding from $1.08 billion in 2023 to $1.32 billion in 2024 at a compound annual growth rate (CAGR) of 22.1%. It will grow to $2.98 billion in 2028 at a compound annual growth rate (CAGR) of 22.5%. This significant growth is driven by increased adoption in electronics and semiconductors, advancements in energy storage applications, expansion into healthcare and biomedical sectors, the rise of graphene-enhanced composites in aerospace and automotive industries, and the development of sustainable and eco-friendly graphene-based products.
Rising Demand for Graphene from the Automotive Sector
The increasing demand for graphene from the automotive sector is expected to drive the growth of the graphene market. The automotive sector's interest in graphene is due to its exceptional mechanical properties, including high strength and lightweight characteristics, which improve fuel efficiency, enhance performance, and reduce environmental impact. Graphene is utilized in various automotive components and systems, such as lightweight structural materials, conductive coatings for batteries and sensors, and heat management solutions, thereby enhancing vehicle performance, efficiency, and sustainability. For example, according to the Global Electric Vehicle Outlook report by the International Energy Agency (IEA), electric vehicle sales doubled in 2021 compared to 2020, reaching approximately 6.6 million units. This trend continued in the first quarter of 2022, with 2 million electric cars sold worldwide, highlighting the growing demand for graphene in the automotive sector.
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Major Players and Market Trends
Leading companies in the graphene market, such as NanoXplore Inc., Ningbo Morsh Technology Co. Ltd., Nanjing XFNANO Materials Tech Co. Ltd., and Thomas Swan & Co. Ltd., are focusing on developing innovative products to capitalize on the unique properties of graphene. For instance, Infinity Wax launched a graphene-enhanced product, Graphene Wax, in January 2021. Developed in collaboration with Applied Graphene Materials (AGM), this product utilizes AGM's Genable graphene nanoplatelet dispersions to offer exceptional water beading, long-lasting paint protection, and a professional wax shine.
Segments:
• Product Type: Graphene Nanoplatelets, Graphene Oxide, Reduced Graphene Oxide, Monolayer Graphene, Bulk Graphene, Other Products
• Application: Paints And Coatings, Electronic Components, Composites, Batteries, Solar Panels, Other Applications
• End-Use: Automotive, Medical, Aerospace, Defense, Concrete Industry, Tires, Other End-Users
Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the graphene market in 2023 and is expected to be the fastest-growing region during the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities, emphasizing the rapid expansion of the graphene market in the Asia-Pacific region.
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Graphene Global Market Report 20241 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Graphene Global Market Report 20242 by The Business Research Company is the most comprehensive report that provides insights on graphene market size, graphene market drivers and trends, graphene market major players, competitors' revenues, market positioning, and market growth across geographies. The graphene market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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