Global Graphene Electronics Market Size Forecast 2024 - 2033
17 Dec, 2024
What Is The Scope Of The Global Graphene Electronics Market?
Graphene electronics refers to the use of graphene, a single layer of carbon atoms arranged in a two-dimensional lattice, in electronic devices. Graphene's exceptional electrical conductivity, mechanical strength, and flexibility make it ideal for applications such as high-speed transistors, flexible displays, and advanced sensors. This technology promises significant advancements in performance and efficiency for future electronic systems.
Graphene Electronics Global Market Report 2024 provides data on the global graphene electronics market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Graphene Electronics market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Graphene Electronics?
The graphene electronics market has experienced exponential growth, rising from $1.02 billion in 2023 to $1.36 billion in 2024, at a compound annual growth rate (CAGR) of 32.7%. This growth is attributed to government support for environmental conservation, the electrification of transportation, graphene's thermal conductivity, and its use in nanotechnology. The market is expected to reach $4.22 billion by 2028, growing at a CAGR of 32.8%, driven by the increasing demand for energy-efficient products, higher usage of IoT devices, expanding use in consumer electronics, growing demand for electric vehicles, and the need for low-cost composite lighter alternatives to carbon fiber in various gadgets. Key trends include technological advancements, demand for high-capacity rechargeable batteries, growth in portable electronics, product extensions, and continued research and development activities.
What Are The Leading Drivers Of Growth In The Graphene Electronics Market?
The increasing demand for electric vehicles is expected to fuel the growth of the graphene electronics market. Electric vehicles (EVs), powered by one or more electric motors, are experiencing a surge in demand due to advancements in battery technology, the expansion of charging infrastructure, and the increasing availability of various models. Integrating graphene electronics into electric vehicles can potentially transform the industry by enhancing efficiency, performance, battery life, charging speed, and safety. For instance, according to a report by the Department of Energy, sales of new light-duty plug-in electric vehicles, including both all-electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs), nearly doubled from 308,000 in 2020 to 608,000 in 2021. Therefore, the increasing demand for electric vehicles is driving the growth of the graphene electronics market.
Get Your Free Sample of the Global Graphene Electronics Market ReportHow Are The Segments Defined Within The Global Graphene Electronics Market?
The graphene electronics market covered in this report is segmented –
1) By Product: Display, Memories, Batteries, Solar Cell, Integrated Circuits And Chips, Other Products
2) By Material Type: Graphene Film, Graphene Nano Platelets, Graphene Oxide, Graphene Foam
3) By Industry Vertical: Consumer Electronics, Automotive, Healthcare, Industrial Robotics, Aerospace And Defense, Other Industry Verticals
How Are New Trends Expected To Influence The Growth Of The Graphene Electronics Market?
In the graphene electronics market, companies are focusing on developing graphene field-effect transistors (GFETs) to improve performance, efficiency, and miniaturization in next-generation electronic devices. GFETs are advanced electronic components offering significant benefits in speed, flexibility, and thermal management. For example, in January 2022, Graphenea Inc., a Spain-based manufacturer of graphene-based materials, launched the GFET-S30 for sensing applications. This chip uses Graphenea's proprietary High-K Metal Gate (HKMG) process to offer 30 back-gated graphene devices arranged in a grid pattern.
Which Region Drives The Highest Growth In The Graphene Electronics Market?
North America was the largest region in the graphene electronics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the graphene electronics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.