Graphene Electronics Market Expected to Reach $5.2 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Global Graphene Electronics Market," The global graphene electronics market was valued at $270.82 million in 2021, and is estimated to reach $5.2 billion by 2031, growing at a CAGR of 34.2% from 2022 to 2031.

Graphene is a two-dimensional allotrope of carbon used in electronics to create next-generation consumer electronics and IC solutions limited to Sci-fi. Further, graphene is used as a coating to improve the current touch screens for portable devices such as phones and tablets. Numerous industries, including the textile sector, aerospace applications, general computing, electronics, and many more, have invested in graphene-based electronics solutions; owing to its incredible strength, high thermal conductivity, and high electron mobility, graphene has the potential to revolutionize electronics sectors globally. In addition, graphene is currently best known to the world in the electronics sector due to its extremely advantageous conductive qualities. 

The growth of the global graphene electronics market size is majorly driven by the surge in sales of electric vehicles coupled with the thriving portable electronics industry. Moreover, superior performance and functionalities are expected to drive market growth. However, the high cost and lack of awareness of graphene technology are acting as prime restraints on the global market. On the contrary, the rise in government initiatives in research and development is anticipated to provide lucrative opportunities for the graphene electronics industry during the forecast period. 

According to the graphene electronics market analysis, the batteries segment was the highest contributor to the market in 2021. The consumer electronics and automotive segments collectively accounted for around 61.1% market share in 2021. The surge in prime players' initiatives to develop and deploy next-generation graphene electronics solutions globally has led to the growth of the batteries segment; thereby, enhancing the graphene electronics market growth. 

The outbreak of COVID-19 has significantly impacted the growth of digital TV solutions. The decline in growth in manufacturing solutions has significantly impacted the demand for graphene electronics solutions during the pandemic. Further, the lack of availability of a professional workforce due to the partial and complete lockdown implemented by governments across the globe has restrained the growth of the graphene electronics market during the pandemic. However, the rise in demand for electric vehicles and Internet of Things solutions has led to the growth of graphene-based electronics solutions and is expected to drive the growth of the graphene electronics market post-pandemic. 

Region-wise, Asia-Pacific holds a significant global graphene electronics market share, owing to the presence of prime players in this region. Further, China holds a dominating position in the graphene electronics market, owing to a rise in investment by prime players and government agencies to develop next-generation digital TV solutions to offer better user experience to end users which led to the growth of the graphene electronics market trends. 

KEY FINDINGS OF THE STUDY

• In 2021, the batteries segment accounted for maximum revenue and is projected to grow at a notable CAGR of 35.7% during the forecast period.
• The automotive segment was the highest revenue contributor to the market in 2021.
• The automotive and consumer electronics segments collectively accounted for around 61.1% market share in 2021.
• Asia-Pacific acquired a major share in the graphene electronics market with an industry share of 35.0% in 2021

The key players profiled in the report include AMG Advanced Metallurgical Group N.V., Graphene Platform Corporation, Graphene Frontiers LLC, Graphenea S.A., Talga Group, Graphene Square, Inc., NanoXplore Inc., First Graphene, Versarien plc, and Grafen Chemical Industries Co. Ltd. Market players have adopted various strategies such as product launch, collaboration, partnership, joint venture, and acquisition to expand their foothold in the graphene electronics market.