The rise in the demand for graphene in the electronics sector, the surge in the use of graphene in the energy industry, and the rising consumer electronics demand such as tablets and mobile phones drive the global 3D graphene market.
PORTLAND, Ore., March 31, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "3D Graphene Market by Application (Composites, Sensors, Energy storage, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global 3D graphene industry generated $2.5 million in 2021 and is expected to generate $39.1 million by 2031, witnessing a CAGR of 31.6% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Drivers, Restraints, and Opportunities
The rise in the demand for graphene in the electronics sector owing to its excellent electrical mobility and permeability, the surge in the use of graphene in the energy industry, the increasing purchasing power of consumers and the rising consumer demand for electronic products, such as tablets and mobile phones drive the global 3D graphene market. However, the toxic nature of graphene, risks involved in the graphene production, and the high production cost of graphene restrain the market growth. Moreover, the increased usage of 3D graphene in the healthcare sector will present new growth opportunities for the global 3D graphene market in the coming years.
Covid-19 Scenario:
- The COVID-19 outbreak had a negative impact on the 3D graphene market, as graphene is mainly used in batteries, cell phones, and automotive industries, and these industries witnessed a sudden decline in growth during the pandemic period.
- The demand for products hampered because the production was halted owing to the lockdown imposed by governments of various countries. Hence the massive drop in the graphene demand was witnessed in 2020 and 2021.
- 3D graphene is widely used in electronic, automotive, and other sectors. These industries gained momentum and started their production process smoothly. Hence, the demand for 3D graphene increased post COVID.
The energy storage segment to grab lion's share during the forecast period
In terms of application, the energy storage segment contributed to the largest share of more than two-fifths of the global 3D graphene market in 2021 and is expected to maintain its leadership in terms of revenue during the forecast period. Also, the same segment is projected to witness a fastest CAGR of 31.86% from 2022 to 2031. The growth is attributed to the properties of 3D graphene like high conductivity, high resistance, and others. The report also discusses composites, sensors, and others segments.
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Asia-Pacific to achieve the largest revenue by 2031
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for nearly two-fifths of the global 3D graphene market and is likely to dominate the market during the forecast period. The same region would portray the highest CAGR of 31.9% from 2022 to 2031. This is due to the highly developed electronic sector in China and the continuous investments done in the region through the years to advance the electronic sector. The report also analyzes markets in North America, Europe, and LAMEA regions.
Leading Market Players
- Integrated Graphene Ltd.
- Ultrananotech Private Limited.
- Graphex Group
- NANOCHEMAZONE
- G6 Materials Corp.
- AMERICAN ELEMENTS
- ACS Material
- Nano Dimension
- Lyten, Inc.
- CVD Equipment Corporation
The report analyzes these key players in the global 3D graphene market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, developments, and product portfolios of every market player.
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