Graphene Market Size to Reach USD 876.8 Million by 2027 at CAGR 40.2% | Valuates Reports
BANGALORE, India, March 5, 2021 /PRNewswire/ -- The Graphene Market is Segmented by Type (Mono-layer & Bi-layer Graphene, Few Layer Graphene, Graphene Oxide, and Graphene Nano Platelets), and Application (RFID, Composites, Sensors, Research & Development, Energy storage, Functional ink, and Polymer additives, Tire, Coatings, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2027. This report is published on Valuates Reports in the Industrial Materials & Equipment Category.
The global graphene market size valued at USD 87.5 Million in 2019 and is projected to reach USD 876.8 Million by 2027, growing at a CAGR% of 40.2% from 2020 to 2027.
Major factors driving the growth of graphene market size are growing purchasing power, increasing consumer electronics demand such as tablets and mobile phones, and rising product penetration in various applications, including energy storage, semiconductors, and sensors.
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TRENDS INFLUENCING THE GROWTH OF GRAPHENE MARKET SIZE
Increasing graphene application in electronics devices for energy storage is expected to drive graphene market size during the forecast period. Incorporating graphene in batteries could increase their performance enormously. Energy density could increase tenfold, enabling the smartphone to last days without recharging. Furthermore, memory chips based on graphene have the potential to increase smartphone storage capacity, reduce power consumption and increase memory access speed.
Graphene has a wide range of exceptional properties, including strength, flexibility, lightweight, and conductivity. Combining graphene with composite materials is one of the easiest and most powerful ways to unlock its ability. Due to superior product characteristics such as high strength and lightweight, graphene composite is expected to be used in the automotive and aerospace industries. This wide range of applications in various industries is expected to increase the growth of graphene market size.