The global graphene market size was valued at USD 269.6 million in 2021. The market is projected to grow from USD 337.0 million in 2022 to USD 2,172.2 million by 2029, exhibiting a CAGR of 30.5% during the forecast period.

This information is provided by Fortune Business Insights, in its report titled, “Graphene Market, 2022-2029.”

COVID-19 Impacts:

Increasing Demand from the Biomedical Industry to Boost Market Growth

The development of graphene technology and its applications accelerated radically during COVID-19 due to its exceptional properties, including flexibility, conductivity, antibacterial, and antivirus efficacy. Graphene-based protective equipment, drug delivery, bio-sensors, and treatment systems were developed and utilized to fight against COVID-19.

However, in contrary to healthcare and biomedical sectors, electronics and energy sectors experienced a negative impact from COVID-19 owing to the logistics lowdown, decline in demand, and restricted accessibility to raw materials for production.

Report Coverage:

The report offers a detailed study of the market and a keen examination of the major segments of the market. It provides an in-depth analysis of key players and their insightful strategies to spur the market growth for monetary gains. It also shares tangible insights, which guide business owners with their investment perspective.

Drivers and Restraints:

Growing Product Penetration in the Electronics Industry to Aid Growth

Owing to it exceptionally high thermal and electrical conductivity and its lightweight nature, it is preferably suitable for electronics applications. The electrons in this allotrope of carbon have higher mobility, and therefore speed up more when applied on an electric field, as compared to semiconductors that are extensively employed in electronic devices, including silicon. Owing to these properties, it produces more proficient devices that function faster than traditional substitutes while using less power.

Regional Insights:

Asia Pacific to Dominate Backed by Favorable Government Policies

Asia Pacific held the largest graphene market share and is anticipated to dominate the market during the forecast period, owing to favorable policies by the government, academic research, and funding in the region.

Browse Summary: https://www.fortunebusinessinsights.com/graphene-market-102930