Monday, July 11, 2016

World Graphene Market Expected to Reach $151.4 Million by 2021

Big Market Research has recently added a report titled, "World Graphene Market-Opportunities and Forecasts, 2014-2021.” The projected figures in the report indicate that the global sales of graphene would reach $151.4 million by 2021. Graphene Nano Platelets (GNP) segment, specifically, is expected to generate about two-thirds of the overall market revenue by 2021. Among all geographies, the Asia-Pacific region in graphene market is estimated to grow at the highest CAGR of 47.7% during the forecast period.

Graphene, is referred to as the "wonder material" in the industry owing to its exceptional strength and fineness. It displays several advantageous characteristics, such as high mechanical strength (about 200 times stronger than steel) as well as remarkable electrical and optical properties. It can be placed in various end applications including the development of Radio-frequency Identification (RFID), composites, sensors, energy storage, functional ink, and polymer additives. However, considering the high costs of manufacturing equipment and technological limitations associated with its mass production are principle factors that hinders the growth of the industry. Heavy investments, aimed at improving production capacity and increased focus on strengthening research and development activities felicitate the evolution of novel and innovative products.