Graphene is considered as a wonder material, finding wide applications in areas ranging from practical solutions like water purification/filtration systems and faster internet speeds to measuring brain activity. The already widened application area of Graphene is expanding by leaps and bond, finding a new application area every so often.
Recently, North-western University (US), a private research university announced a new application of Graphene as nontoxic, anti-static hair dye. This research has ended the era of the toxic hair dyes. Hence Graphene, the miracle material will now be used in the manufacturing of the ultimate hair dye.
Graphene seems to be tailor-fit material for Elon Musk’s vision of “wizard hats for the brain” a reality. Musk’s neurotechnology start-up, Neuralink is aiming to create brain-computer interface systems (neural lace technologies) along with the advances in Graphene. This is the best example that defines why Graphene is called as the wonder material, presaging the further heights this material is ascending ion the global space.
Acknowledging the kind of traction gained by this market, Market Research Future (MRFR) recently published a study report. According to MRFR, the Global Graphene Market garnering further prominence is projected to ascend to approx. 811.40 million USD by 2023, registering a massive CAGR of approximately 43% during the review period (2016 to 2023).
The growth of the market is predominantly driven by the augmenting demand in the various burgeoning end-user industries such as automotive, aerospace, pharmaceutical, energy, coatings, electronics, and chemical, among others. Other factors fuelling the market growth include growing population and improving economic conditions that have substantiated the industrialization & urbanization along with the consumer purchasing power. Also, increasing demand for Graphene-based products and favorable government regulations are expected to propel the market growth over the forecasted period.
Global Graphene Market - Geographical Analysis
North America accounted for the leading market for Graphene with the largest market share and is further estimated to grow at a significant CAGR by 2023. Factors substantiating the market growth include the rapid industrialization, the presence of the numerous producers and the substantial demand for the product from the various end-user industries such as electronics and aerospace mainly in the countries like the US, Canada, and Mexico.
The U.S. backed by the greater penetration of end-user industries in the country, accounts as the major contributor to the market growth among other North American countries.
Other factors such as strict regulatory framework and high rate of technology adoption, in developed regions such as North America and Europe are estimated to witness the significant growth.
Globally, Asia Pacific accounts for the second-leading market for Graphene, owning a substantial market share. Availability of cost-comprehensive labor-force and growing exports are some of the key factors substantiating the market growth in the regional. Owing to the surging demand for Graphene backed by the growing investments in the industrial sector and improved standard of living in some of the APAC countries such as India, China, and Japan the market size is widening considerably.
Whereas, the Europe region is emerging as one of the promising markets for Graphene, worldwide. Factors such as the growing applications in the well-developed end-users industries such as automotive, aerospace, pharmaceutical, and energy support the market growth in the region. Owing to the major growth contributor countries such as Germany, UK, and Russia, Europe region is expected to register phenomenal growth records over the forecast period.
Industry/ Innovation/ Related News:
July 04, 2018 – A group of researchers at the International School for Advanced Studies (SISSA Italy) and the Catalan Institute of Nano-science and Nanotechnology (ICN2 - Spain) published their recent study, demonstrating how graphene could be combined with neurological tissue, allowing the material to become a valuable tool for medicine and other biological processes.
These results further demonstrate that graphene might exhibit neuronal activities, altering ion mobility at the cell interface depending on the way the single-layer graphene is engineered. Therefore, graphene-based nano-materials will represent themselves as potential tools in neurology and neurosurgery.
July 05, 2018 – Directa Plus S.p.A (Italy), a producer and supplier of graphene-based products announced the receiving of further extension of the contract from Alfredo Grassi S.p.A. (Italy), a manufacturer of customized protective clothing, work wear and uniforms for private and public companies. The duo had collaborated to develop graphene-enhanced clothing and other textile products.
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