Albany, NY, April 01, 2016 (GLOBE NEWSWIRE) -- According to the research report, the global graphene market was valued at US$ 12.3 Mn in 2014 and is anticipated to reach US$ 159.2 Mn by 2023, expanding at a CAGR of 33.5% from 2015 to 2023.
Graphene is one-atom-thick sheet of carbon atoms in a honeycomb crystal lattice. It is the building block of graphite. It is the first two-dimensional material in the world. Graphene is the lightest and thinnest compound discovered to date. In terms of region, North America was the largest segment of the global graphene market in 2014. This is primarily ascribed to increase in investment and rise in research regarding the use of graphene in electronics, automotive, and aerospace & defense end-user industries. However, slow rate of commercialization is expected to hamper market growth during the forecast period. Rising usage of graphene in the electronics, aerospace, and automotive industries is estimated to offer growth opportunities to the graphene market during the forecast period.
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In terms of volume, North America held more than 40% share of the global graphene market in 2014. This was primarily ascribed to significant investment in research and development for graphene in the region. North America is projected to maintain its dominance during the forecast period. The U.S. is likely to be one of the major consumers of graphene in the next eight years. North America is also expected to be the fastest-growing region for graphene during the forecast period. High demand for graphene for research in electronics, automotive, and aerospace & defense industries is anticipated to be the key reason for the rapid growth of the market in North America. Increase in commercialization of graphene is estimated to lower its price in developed regions. This is projected to shift the momentum of demand toward developing regions between 2015 and 2023.
Browse Research Article on Graphene Industry: http://www.transparencymarketresearch.com/article/graphene-market.htm
The graphene market is likely to gain momentum in developing regions such as Asia Pacific once the cost of graphene is in line with that of the existing substitute materials. Emergence of China-based manufacturers in the graphene market during the forecast period is expected to lower the prices of graphene in the near future. Countries such as China, Japan, and India are anticipated to be the major consumers of graphene during the forecast period.
The graphene market in Middle East & Africa is estimated to witness substantial growth during the forecast period. However, high cost of raw materials and lack of technological expertise are estimated to hamper market growth in the region. The graphene market in Latin America is also projected to expand substantially, owing to the large supply from North America. However, the high cost of final products and large dependence on North America for the import of these products are likely to hamper market growth. Rising commercialization for the production of graphene is expected to propel the market in these regions in the next eight years.
Browse Research Press Release:http://www.transparencymarketresearch.com/pressrelease/graphene-market.htm
The global graphene market is fragmented. Key players operating in the graphene market include Nanjing XFNANO Materials Tech Co., Ltd., Nano Material Tech, Graphenea S.A., Applied Graphene Materials plc, Applied Nanotech Inc., Advanced Graphene Products, Haydale Ltd., Grafoid Inc., Graphene Frontiers and ACS Material LLC.
The report segments the global graphene market as follows:
Graphene Market – Product Analysis
- Graphene Oxide
- Graphene Nanoplatelets
- Mono-layer & Bi-layer graphene
- Others (Including Graphene Multilayer, etc.)
Graphene Market – End-user Segment Analysis
- Aerospace & Defense
- Health care
- Others (Including Paints and coatings, etc.)
Graphene Market – Regional Analysis
- The U.S.
- Rest of North America
- Rest of Europe
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- South Africa
- Rest of MEA
Browse Research Blog:http://www.tmrblog.com/2016/02/global-graphene-market.html
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decisionmakers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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Source:Transparency Market Research