The global graphene market size was valued at USD 432.7 million in 2023 and is projected to grow from USD 570.3 million in 2024 to USD 5,193.2 million by 2032, exhibiting a CAGR of 31.8% during the forecast period.
This information is provided by Fortune Business Insights, in its report titled, “Graphene Market, 2022-2029.”
Segments:
GO Segment to Gain Momentum due to Increasing Applications from Various End-use Industries
Based on product, the graphene market is segmented into graphene oxide (GO),, graphene nanoplatelets (GNP),, and others.
GNP accounted for the largest graphene market share in 2021 and is expected to continue its dominance until 2029.
Aerospace & Defense Segment to Hold a Significant Share Owing to Extensive Adoption of Material
In terms of end-use industry, the market is classified into electronics, aerospace & defense, automotive, energy, and others.
Graphene is revolutionizing the aerospace industry as it improves the functionality of the coatings and composites used in planes, drones, helicopters, and spaceship manufacturing.
Geographically, the graphene market is segregated into North America Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Drivers and Restraints:
Growing Product Penetration in the Electronics Industry to Aid Growth
Owing to it exceptionally high thermal and electrical conductivity and its lightweight nature, it is preferably suitable for electronics applications. The electrons in this allotrope of carbon have higher mobility, and therefore speed up more when applied on an electric field, as compared to semiconductors that are extensively employed in electronic devices, including silicon. Owing to these properties, it produces more proficient devices that function faster than traditional substitutes while using less power.
Browse Detailed Summary:
https://www.fortunebusinessinsights.com/graphene-market-102930
