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The graphene based products market is projected to increase at a staggering compound annual growth rate (CAGR) of 51.7% over the next decade, reaching a market value of $122.9 million in 2017 and $986.7 million in 2022.
The commercial market for graphene based products was essentially zero in 2009-2010, but analysts have now predicted the first commercially significant sales of graphene products to develop before 2015.
Graphene is a one-atom-thick sheet of carbon whose strength, flexibility, and electrical conductivity have opened up new horizons for high-energy particle physics research and electronic, optical, and energy applications.
Graphene has moved swiftly from the research laboratory to the marketplace, driven by demand from markets where advanced materials are required, such as the aerospace, automotive, energy storage, and solar sectors.
China controls roughly 70% of the market, much as it dominates more than 95% of the world's "rare earths" market, and Beijing is both limiting exports and charging a 20% export duty on graphene. That's one reason its price has more than tripled in the past five years.
The segment made up of capacitors is projected to be the largest sector by 2022. Capacitors are expected to increase from $31 million in value in 2017 to $410 million in 2022, a CAGR of 67.6%.
Structural materials are expected to jump from $44.5 million in 2017 to $167.6 million in 2022, a CAGR of 30.4%.
Growth within the graphene based products market is set to be driven by the flexible nature of graphene materials which enables electronics goods manufacturers to produce slim and flexible products. However, the expensive production methodologies for graphene could pose a challenge to market growth.
For more information on the graphene based products market, see the latest research: Graphene Based Products Market Report
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