The Graphene Market Growth in Coming Years
The Global Graphene Market is expected to grow by 811.40 million dollars by 2023, with a compound annual growth rate of 43.0 percent between 2016 and 2023. The world's graphene market was increased over a forecast period by the growing pharmaceutical, energy, covering, and electronics markets, mainly in North America and Asia-Pacific.
Introduction
According to the American Chemical Society, the race for the affordable graphene production method remains on, boosting analysis efforts and initiatives globally. The United Kingdom launched a publically-funded $90 M National Graphene Institute (NGI) dedicated to the analysis and exploitation of graphene. NGI secured a collaboration with China-based Huawei to check graphene and different two-dimensional materials. Operated by the University of Manchester, the NGI is offered to 250 2D materials scientists from the university and its fifty partner organizations. The university intends to launch an associate 85 million dollars building for scaling up initiatives 1st developed at NGI (2016).
Why Graphene?
Including graphite and diamond, Graphene is an allotrope of carbon, part of a wide range of nanomaterial and high-tech research. Graphene is a single layer of carbon dioxide atoms with a two-dimensional hexagon grid, connected by strong covalent atomic connections. Almost all of the materials we encounter in the universe are three-dimensional. Scientists also have little knowledge of how a material's properties change when in a two-dimensional order. Graphene's properties are also very different from graphite, which is the three-dimensional arrangement of carbon, so graphene research is very useful in predicting how materials acquire properties in a two-dimensional layout.
*A great conductor of electricity
Electricity flows very fast through this simple honeycomb graphene sheet. Many known conductors are metals, but graphene is a carbon-based nonmetal. For this reason, graphene research becomes important for the conditions where we will have to transmit electrical current without metal. Because it can conduct electrical conduction in a very small space, graphene is very important in miniaturized super-speed computer and transistor research because these devices need a very small amount of power to operate. Graphene is also flexible, strong, and transparent.
Market Analysis
The graphene market studies that can be available on the internet show an important growth expectation in the global graphene market. The data show that the forecast for economic process considering applications of graphene is significant within the next 5–10 years, being 42.1% within the amount 2014-2022 for graphene. On the other hand, graphene prices directly related to its quality. Graphene oxide powder is inexpensive and was used to make conductive graphene paper, for DNA analysis and other user applications of composites and biotechnology. Graphene oxide in solution is sold for 99 euros per 250 milliliter.
In the close future, prices of graphene may be cheaper than prices of silicon, this situation may allow graphene to enter all markets that dominated by silicon. For example, computing, chip making, sensors, solar cells can be these markets. However, silicon cannot be integrated into future flexible smartphones and mobile devices because silicon is not antifragile as graphene. Therefore, graphene offers a competitive solution for the future.
Considering the recent technology expectation, it can be seen that graphene prices are not high. If we recall, for example, that in the 1950s the market for carbon fiber was invented but its use was not discharged for 30-40 years. Carbon fiber has faced a number of challenges, including early market implementation and poor products. Carbon fibers now appear in state-of-the-art composites. The material survived the long battle by finding applications that with other materials were not possible.
The market for graphene has gained enormous potential for use and thus reached various players in the area. Everyone involved in the issues of graphs makes many investments to reinforce research in the field. According to the most current market studies in the energy and storage industry, graphene has the greatest economic and technological potential because this material has a high surface area, good chemical stability, and a high conductivity in electricity. Researchers have indicated that these developments will significantly improve the capacity of electricity storage for safer, lighter, and compact batteries covering a range of applications from electronics to electric vehicle mobility.
Graphene is also applied in composite materials in a host material, such as polymers, ceramics, or metal matrices, where it modifies and enhances its properties. The addition of graphene in polymers makes it possible to achieve materials that are considerably more mechanically resistant so that other characteristics such as gas impermeability and electric conductivity can be introduced simultaneously. It can be used for the manufacturing of aircraft parts, cars, and building materials like cement, refractory materials, and paints. Graphene production also affects mining, with enormous economic gains to be expected in the graphene production chain. We have applications in analytical chemistry for nanocomposite materials.
According to research from the National University of Singapore (NUS), there is an economically and industrially appropriate strategy for graphene production. The new technique tackles the long-standing challenge of an effective graphene-making process and opens the way to sustainable material synthesis. In this context, the standard graphite method uses sound energy or shear forces to exfoliate the graphite layers and disperse the layers into large quantities of organic solvent. Since insufficient solvent causes the graphite layer to reconnect again to graphite, at least one ton of organic solvent is necessary for the production of 1 kg of graphene, making the process costly and environmentally hostile. The research team led by the National University of Singapore uses up to 50 times fewer solvents on the other hand. To achieve this, pretreatment graphite is exfoliated under a highly alkaline condition to trigger flocculation, a process in which graphene layers continually unite into graphene paste without increasing the volume of solvent. The technique also introduces and prevents repulsive electrostatics between the graphene layers.
A group of scientists in the USA and South Korea for the creation of tough optical and electrical has developed a new type of LED, which combines “one-dimensional vertical superlattices” with two-dimensional graphic sheets, LEDs. With graphene being integrated progressively into the production of LED, the energy consumption in comparison with normal light bulbs will be cut by 20 percent. The length of the LED is also approximately 25 years.
All graphene-related applications can bring numerous social benefits, but not all of these are at the same stage of research, assessment, standardize and use. Research shows that graphene will be applied to the market in the next ten years, with many consumer products expected to reach their full maturity by 2030.
One of the economic concepts that give us an idea of the importance of development in this scenario is to understand that persons are subject to incentives and can change their decision/action. In this sense, we have the right, as a rule, to act as a tool for individuals' behavior, so that it acts as an incentive to do or not do anything.
To get more information about the uses of graphene,
you can read our blog post here.
Regional Analysis and Segmentation
In various end-user industries like electronics and aircraft, North America is the largest graphene market in Canada, Mexico, and the USA. Because of increased demand in the automotive, aerospace, and chemical industry, the second-largest market in Asia-Pacific, including the countries of China, Japan, India, and South Korea. Thanks to developed countries like Germany, Italy, and France, Europe is the third-largest market in graphene. Due to various industrial applications, such as automotive, aerospace, pharmaceutical, energy, coatings, electronics, chemical, and others Latin America and the Middle East have experienced growth in the graphene market too.
The global graphene market is split into three sections: type, end-users, and region. The graphene market is split into graphene compounds (GO), graphene nanoplatelets (GNP), few-layer graphene (FLG), mono-layer & bi-layer graphene, et al (3D graphene foams, pristine graphene). The market is divided by user trade into automotive, aerospace, pharmaceutical, energy, coatings, physical science, chemical, et al (composite, catalysts, filtration, adhesives), and by region into North America, Europe, Asia-Pacific, Latin America, and Africa.
What are the Key Players in the Global Graphene Market?
In the Global Graphene Market, most of the leading companies based in the USA and UK. For instance, CVD Equipment Corporation (US), Vorbeck Materials (US), Graphene NanoChem (UK), XG Sciences, Inc. (US), Angstron Materials, Inc.(the US), Graphene Laboratories, Inc. (US), BGT Materials Limited, Ltd (UK), Graphenea Inc. (US), Grafoid Inc (North America), Haydale Limited (UK). In addition, some Indian-based companies, also got attention in the global graphene market, such as KNV’S Incorporation, Carborundum Universal Limited (CUMI), and AVANSA.
In Turkey, as an important market for both Europe and Asia, our firm, Nanografi is the one of the most important actors of the graphene market.
Conclusion
It can be observed that the market value of graphene, whose importance and usage areas have increased rapidly, is increasing at the same speed. The Global Graphene Market is expected to grow by 811.40 million dollars by 2023, with a compound annual growth rate of 43.0 percent between 2016 and 2023. The world's graphene market was increased over a forecast period by the growing pharmaceutical, energy, covering, and electronics markets, mainly in North America and Asia-Pacific. Considering expert opinions and reports, the advantages of investing in the graphene market are clear. The presence of companies such as Nanografi considered when Turkey, to attract domestic and foreign investors to this market and is spearheading one of the most profitable investment areas of the future.
To get more information, you can visit Blografi.
References
Costa G, Hussain C. Ethical, legal, social and economic issues of graphene Comprehensive Analytical Chemistry. 2020 Jan; 91:263-279.
Retrieved from: https://www.gminsights.com/methodology/detail/gra...
Global graphene market to reach $1.08 bn by 2027. https://doi.org/10.1016/j.focat.2020.05.003
