As per estimates, Asia Pacific graphene market recorded a valuation of USD 3.9 million in 2016. With the extensive presence of graphene companies, electronics companies, graphite mines, and even renowned automakers, APAC graphene industry is anticipated to register a CAGR of more than 34% over 2017-2024. Also, the extensive R&D activities being conducted across Japan, South Korea, India, and China, in addition to the presence of huge graphite mines in China, will serve to increase the scope of APAC graphene market.Graphene market earns the tag of being one of the most dynamic and fastest-growing markets of all times, contingent on the fact that graphene is one of the most remarkable and widely-used materials ever discovered.
Graphene is already being used in numerous end-use sectors, and is currently being experimented with, to detect the various other energy-related applications it can be deployed for. Research & development activities play a crucial role in the development of graphene industry, with scientists and academicians striving to discover novel methods of incorporating graphene in various methodologies. As per statistics, the number of research publications on graphene has increased to over 9000 in 2013 from over 125 in 2005.
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Speaking along the same lines, a recent news snippet reveals a significant milestone that may revolutionize the graphene market. The Fraunhofer Institute of Electron Beam & Plasma Technology (FEP), based in Dresden, along with the British Aixtron Ltd. and Spanish company Graphenea S.A., has achieved a remarkable success by developing OLED electrodes from graphene, which can be used in a range of applications, from medicine to photovoltaics. Sponsored partly by the EU Commission, which contributed around EUR 12.4 million to the project, these products are likely to be commercialized within a couple of years. These graphene electrodes will be designed to be highly tough and flexible, and will be used in polarization filters, touch screens, transmission regulator in windows, medicines, and high-tech textiles. Graphene is also likely to assure a successful future for light-powered wireless connectivity.
Graphene industry held a valuation of USD 20 million in 2016, subject to the product applications across the aerospace & defense, electronics, automotive, energy, and healthcare sectors. Over the years, the substance has found utilization in wireless connectivity, solar cells, OLED electrode production, etc., thereby helping graphene market share to increase at a phenomenal rate, with an estimated target valuation of USD 200 million by 2024.
Speaking of coatings, renowned UK-based firm, Applied Graphene Materials has entered into a partnership with HMG Paints to commercialize graphene-based coatings for numerous industries. It is expected that the two firms, post the testing phase, will launch their products in the real world, across commercial vehicles and commercial equipment, which will eventually widen the application scope of graphene industry. Some of the other renowned names in this fraternity include Graphenea S.A., Grafoid Inc., XG Sciences, Inc., Graphene Frontiers LLC, ACS Materials LLC, Advanced Graphene Products, Haydale Limited, Applied Nanotech, Inc., Angstron Materials, Inc., Nanjing XFNANO Materials Tech Co., Ltd, Thomas Swan & Co., Graphene Laboratories, Inc., and AMO Gmbh.
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Scientists have long since awaited the use of an able material that can effectively replace silicon. With the advent of graphene, it would seem as though their efforts have paid off. Though the fact that single-crystal graphene is just a few centimeters in size may restrict the growth of graphene market, the fact that researchers have been attempting to produce a larger version of single-crystal products will act as a favorable growth driver for graphene industry.
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