Graphene, an allotrope of carbon, finds largescale applications in the electrical and electronics sector, which is attaining new heights of prosperity due to the growing penetration of consumer electronics. Graphene is extensively used in print circuits, transistors, and microchips, owing to its high electrical conductivity and exceptional strength. In contemporary times, the usage of this carbon allotrope has substantially increased, owing to the surging demand for flexible devices due to the unique ability of graphene to allow devices to be folded and rolled as per the requirement.
Besides, the widening application base of graphene in the medical sector will also drive the graphene market at a robust CAGR of 30.2% during 2020–2030. The market revenue stood at $84.7 million in 2020 and it is expected to reach $1,188.8 million by 2030. Owing to its thinness and excellent strength, graphene is ideal for the development of bioelectric sensory devices that are used to monitor cholesterol, glucose, and hemoglobin levels. Graphene is also used in the treatment of cancer cells, and for the development of therapeutic tools, dental implants, and prosthesis devices.
The form segment of the graphene market is classified into dispersion, powder, and others, such as graphene flakes, graphene oxides, and graphene sheets. Under this segment, the powder category generated the highest revenue during the historical period (2015–2020), and it is also projected to retain its dominance during the forecast period (2021–2030). The leading position of this category can be owed to the high preference for powdered graphene in sensors, storage batteries, and printing technologies.
According to P&S Intelligence, the Asia-Pacific (APAC) region accounted for the largest share in the graphene market in 2020, and it will also continue witnessing this trend throughout the forecast period. The dominance of the region can be credited to the increasing disposable income of people in regional nations and the widening application bases of this form of carbon in the automotive and electrical and electronics industries of India, China, and other Southeast Asian (SEA) countries. Also, automakers and electronics companies are increasingly using graphene in composite materials, which are used for lightweight vehicles and electronic devices, respectively.
Therefore, the booming electrical and electronics sector and the surging need for medical devices will accelerate the production of graphene in the forthcoming years.
Read More: https://www.psmarketresearch.com/market-analysis/graphene-market
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