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The graphene electronics market is forecast to grow from $8.5 million in 2014 to $1.2 billion by 2025, growing at a CAGR of 60.7%, according to a new report by Transparency Market Research.
The global graphene electronics market is primarily driven by the versatile application areas of graphene. Currently available graphene field effect transistor (GFET)-based biosensors and chemical sensors are capable of deriving result faster and more accurately than traditional sensors.
The superconductivity feature of graphene has led to it being increasingly used as an important constituent of advanced batteries and ultracapacitors. Graphene-based chips developed by researchers are much faster and dissipates heat better when compared to traditionally available chips. Research is being conducted for developing flexible screens with aid of graphene and may be commercially available in the coming years. With further advancements in research and better production methods of graphene, the global graphene electronics market can be expected to grow at a faster pace during the forecast period from 2015 to 2025.
By material type, the market is divided into five segments: graphene film, graphene oxide, graphene nano platelets (GNPs), graphene foam and others. In 2014, graphene film was the largest segment, accounting for a market share of more than 64%, and is expected to remain the leading segment throughout the forecast period. The growth can be attributed to the relatively higher price, compared to other graphene materials, and also to their increasing demand in various electronic devices globally.
By applications, the global graphene electronics market is divided into ten segments: batteries & ultracapacitors, display, sensors, electromechanical systems, solar cells, chips, lighting, memory, electronic products body applications, and others. In 2014, the batteries & ultracapacitors segment was the largest segment, accounting for a market share of more than 63%, and is expected to remain the leader throughout the forecast period. The growth can be attributed to the higher energy density showcased by graphene based ultracapacitors and also to the increasing demand for alternative energy globally. Additionally, increasing demand for better battery life of electronic devices is expected to positively impact the growth of this segment.
North America held the largest market share in 2014, accounting for a market share of more than 40%. High levels of research pertaining to developing graphene electronics led to utilization of currently available graphene electronic devices which ultimately led to North America being the leader amongst all four regions.