North America is a key region for the graphene market which will occupy more than 40% of the total industry revenue in 2024. Developments in the regional electronics and automotive sector coupled with growing defense spending in the United States will augment the industry.
Sellbyville, DE -- (SBWIRE) -- 11/06/2018 -- GMI presents a most up-to-date research on " Graphene Market – Global Industry Analysis, Size, Share, Products (Graphene Oxide, Graphene Nanoplatelets, Mono-layer & Bi-layer Graphene), Growth Potential, Trends Statistics, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC) and Forecast 2017 – 2024".
Graphene Market size will surpass USD 200 million by 2024; according to a new research report by Global Market Insights, Inc. Increasing product use in automotive & aerospace industries will boost the graphene market development throughout the forecast timeframe. The rising demand for light-weight and energy-efficient vehicles will fuel the industry in coming years as graphene can be used to manufacture fiber reinforced laminates that can act as a substitute for conventional automotive component materials. These laminates help to decrease the vehicle weight without compromising on its strength and safety. Lighter vehicles have better fuel economy and help reduce the carbon footprint. Product-based electrically conductive adhesives are fast replacing conventional anti-corrosion coatings such as electrophoretic coating in vehicles. This will also propel the product market demand for the automotive industry and will augment the graphene market development till 2024.
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Rising demand for lighter, faster, and fuel-efficient aircrafts will also boost the graphene market development as the product-based composites are being increasingly used for manufacturing aircraft components. Fiber-reinforced laminates, electrically conductive composites & coatings, epoxy adhesives, advanced coatings, and electrical packaging are some product-based materials that are becoming popular in the aerospace industry. The number of large commercial aircrafts is expected to rise from 1,430 units in 2016 to more than 1,680 units in 2024. This will influence the graphene market positively throughout the forecast timeframe.
Growing R&D investments and product usage in the electronics and telecommunication sector will provide a tremendous opportunity for the graphene market development. The product can be used to manufacture high bandwidth, low noise, and high power electrical components owing to its many favorable properties. The product is already used to manufacture touch screens and memory chips for mobile phones and other electronic gadgets. Extensive research will enable the product usage in other applications in the future and will augment the graphene market development.
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The foremost end-user industries studied in the report include automotive, aerospace & defense, electronics, healthcare, and energy. By 2024 aerospace & defense will account for around 15% revenue share for its increasing applications in the manufacturing aircraft components. The healthcare segment will register revenue about USD 20 million in the forecast period. The segment will observe significant demand for graphene in drug transfer systems, biosensors, cancer treatment tissue and engineering in the near future.
Geographically, North American region is expected to lead the market with 40% share of the global market revenue by 2024. Mounting defense expenditure in the U.S. in addition to the advances in the automotive and electronics sectors will complement the industry growth. The regional market is set to grow with CAGR over 35% over the forecast timeframe owing to the manufacturing expertise and availability of raw materials in North America.
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Key market players Applied Graphene Materials PLC, Graphene Frontiers LLC, Graphenea S.A., Grafoid Inc., XG Sciences, Inc., Haydale Limited, ACS Materials LLC, Nanjing XFNANO Materials Tech Co., Ltd, Xiamen Knano Graphene Technology Corporation Limited, Applied Nanotech, Inc., Angstron Materials, Inc., Thomas Swan & Co., Advanced Graphene Products Sp. z o.o., Graphene Laboratories, Inc and AMO Gmbh.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.