Revenue Explosion Expected in Global Graphene Market From 2020 to 2030

The global graphene market had a valuation of $87.5 million in 2019 and it is predicted to generate a revenue of $646.8 million by 2030. Furthermore, the market will advance at a CAGR of 20.2% from 2020 to 2030, as per the forecast of the market research firm, P&S Intelligence. The market is being driven by the burgeoning requirement for graphene in the electrical and electronics industry and the growing usage of the compound in the healthcare sector.

Because of its high strength and thinness, graphene is being extensively used for manufacturing bioelectric sensors that track and monitor the cholesterol, glucose, and hemoglobin levels and also the ones used for testing the deoxyribonucleic acid (DNA) level in the human body. In addition to this, graphene is also utilized heavily in dental implants, therapeutic tools, cancer treatment, and prosthesis devices. Moreover, many healthcare organizations are conducting exhaustive research aimed at combining graphene nanomaterials with medications and vaccine carriers.

These ballooning research and development (R&D) activities are aimed at expanding the application scope of graphene in the biomedical, healthcare, and electrical and electronics sectors. These projects are mainly supported by the compound’s huge potential to be heavily used in enhanced batteries, medical devices, electric vehicles, and foldable and flexible screens. The European Union made an investment of $50.4 million in 11 commercialization projects pursued by several leading manufacturing organizations such as Siemens AG.

Depending on form, the graphene market is divided into dispersion and powder. Of these, the powder category recorded higher growth in the market during the last few years, on account of the fact that graphene is heavily used in powder form for manufacturing storage batteries and in printing technologies and sensors all over the world. This is because graphene powder is easier to handle and manage than the dispersion and flake variants.

Hence, it can be said with full confidence that the market will register huge expansion across the world in the upcoming years, primarily because of the growing usage of graphene in various applications in the healthcare and electrical and electronics sectors around the world.

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