Graphene Electronics Market Size is forecast to reach $212.6 million by 2026, at a CAGR of 29.1% during 2021-2026. The increase in global consumption of consumer electronics such as computers, smartphones, TVs, and other electrical devices are major factors driving growth in the Graphene electronics market during the forecast period. In addition, factors such as low power consumption, higher density, transparency among others has been a key factor driving the adoption of graphene across various industry verticals.
The demand for graphene batteries by the industries such as automotive and consumer electronic is estimated to substantially boost the demand for graphene electronics especially energy storage applications owing to its lightweight, long-lasting, high-capacity, and faster charging times. In March 2020 researchers from Trinity College Dublin, CIC EnergiGUNE, and INCAR-CSIC in Spain have announced the development of rechargeable batteries and energy storage devices made of a non-toxic and environmentally friendly graphene-based material. Moreover increased demand for electric vehicles and solar panels is expected to drive the market, as it will result in a large demand for rechargeable batteries, of which a graphene battery can be one. Furthermore, the increased use of smartphones, tablets, and other consumer electronics, batteries, robotics, sensors, wearables, power generation, and a variety of other applications are increasing the demand for graphene electronic.
APAC held a major share of around 42.8% of global graphene electronics market in 2020 owing to presence of prominent manufacturers of consumer electronic and other products such as batteries, solar panels and others. Beside this, Taiwan being a leading manufacturer of semiconductor and displays holds a strong position to drive the innovation in graphene electronics. North America region is analyzed to hold the second largest share of the graphene market in 2019 owing to the increased investment for graphene electronics R&D which had opened-up new growth horizons in the region. In February 2020, CPI announced the development of a scalable purification process for graphene oxide production in partnership with Graphene Leaders Canada Inc., a Canadian SME, and the National Research Council of Canada.
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Graphene Electronics Market Growth Drivers:
Growing demand in memory devices of electronics
The growing demand for high-speed random access memory to improve operating system performance without being stagnant has increased demand for graphene materials, and is estimated to drive the market growth in terms of conductivity and transfer. Moreover due to the rapid advancement of modern electronics, the demand for non-volatile memory cells is rapidly increasing. Graphene non-volatile memory cells have rekindled interest as a promising material for post-silicon electronic applications due to its remarkable electrical and other physical features. An international group of Russian and Japanese scientists recently developed a graphene-based material that might significantly increase the recording density in data storage devices, such as SSDs and flash drives. These factors are analyzed to drive the Graphene electronic market during the forecast period 2021-2026.
The Major Players in this Market Include
The major companies in the Graphene Electronics Market include AMG Advanced Metallurgical Group N.V, Grafen Chemical Industries Co. Ltd, Graphene Platform Corporation, Graphene Frontiers LLC, Graphenea SA, Talga Resources Ltd., Gnanomat (Versarien PLC, Graphene Square, Inc, Nanoxplore Inc., and First Graphene Ltd among others. In February 2020 First Graphene Ltd. had made an agreement with Steel Blue. This agreement is made for over two year for the supply of graphene and other graphene product to Steel Blue. In June 2019, researchers at The University of Texas at Austin developed a graphene-based wearable device that can be placed on the skin to measure a variety of body responses, from electrical to biomechanical signals. In June 2019 Nanoxplore introduced a new product GRAPHENEBLACK. It has a characteristic that allows for several uses of recyclable plastic. Its goal is to extend the number of times polymers can be used.
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