Graphene Market Overview
Graphene is a crystallized form of carbon that is million times thinner than human hair or a sheet of paper. It is extremely flexible, highly conductive, and possesses high level of heat resistance as compared to copper and silver.This wonder material absorbs 2% of light and hence,is almost perfectly transparent, impermeable to gases, and chemical components can be added to alter its properties. These attributes of the material enables its incorporation into a wide range of applications in end-use industries such as energy, aerospace, automotive, biomedical, and electronics. Earlier, graphene was artificially produced through mechanical exfoliation process resulting into mono layer of graphite, which is only 1 atom thick. This thinnest material was unstable when exposed to high temperature and air. Superlative materials were manufactured by adding layers and these compounds had potential for its use in more applications.With the advent of technology, the development of exceptional properties of graphene resulted into its combination with other two dimensional semiconductor crystals, which improved the efficiency of the superconductor.
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Prevalent Scenario in Graphene Market
Silicon is second most common element found on Earth and hence is very cheap and is largely manufactured across the globe. Silicon is an excellent conductor of heat and electricity and is widely used in energy storage and electronic applications. However, power consumption is a major concern in conventional silicon-based devices. Graphene is a cost-effective substitute to silicon due to its attributes such as flexibility, high thermal conductivity, and high electrical conductivity. It also runs cooler than silicon and exhibits superior energy harvesting properties.This acts as a key driver for the global graphene market. Due to these key attributes, graphene has attracted major R&D investments of over US$ 1.3 billion committed by the European Commission under graphene flagship projects since 2015. Such government initiatives play a vital role in development and innovation of graphene for wide range of applications.Stalwarts of the electronics and IT industry,such as Apple, Samsung, and IBM are focusing on filing patents for graphene-based technologies developed by them. For instance use of graphene in mobile devices & wearables, graphene membranes for aerospace, and graphene for 3D printing applications. Increasing number of patents has resulted into promising applications of graphene in electronics industry.The energy storage and conversion applications are the fastest growing application of graphene market due to increasing use of graphene owing to its high energy density and fast charging cycle.
The key restraint for the graphene lies in manufacturing large quantities in different varieties, at affordable prices, while ensuringeffective yields. Lack of band gap as compared to silicon is another restraint which results in lower stability in terms of electrical conductivity. High costs to overcome these restraints and high research and development investments hamper growth of the graphene market.North America contributes a major market share due to its growing automobile and electronics industries as well as energy sector. AsiaPacific market is expected to expandat the highest CAGR due to rampant growthof the electronics market in emerging economies such as China and India. Also, China has the largest graphite reserve in the world and hence, it is the largest global producer of graphene.In spite of the niche nature, the market has high potential and large number of manufacturers are focusing on offering innovative products to enhancetheir market share.
The global graphene market is highly fragmented due to the participation of many established and emerging players in the digital genome market. Major players involved in the market include CVD Equipment Corporation (U.S.), Graphene NanoChem Plc. (Malaysia), Graphenea SA (Spain), Grafoid Inc. (Canada), Haydale Graphene Industries Plc (U.K.), Group NanoXplore Inc. (Canada), Thomas Swan & Co., Ltd. (U.K.), Vorbeck Materials (U.S.), 2D Carbon Tech Inc. Ltd. (China), and XG Sciences Inc. (U.S.).
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