Graphene Market Size to grow by USD 1837.4 million between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Graphene Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.

Key Highlights:

• Market Research Overview: The Technavio market research firm positions the global graphene market within the broader context of the global diversified metals and mining market. This market encompasses businesses involved in the production or extraction of a range of metals and minerals, including non-ferrous metals such as lead, nickel, tin, and others, as well as salt, borate, phosphate rock, and diversified mining operations. The size of the global diversified metals and mining market is determined by the combined revenue generated by these companies. - The Graphene Market is experiencing significant growth, fueled by the Growing use of graphene in construction industry. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

• Major Findings:
  • Growing use of graphene in construction industry
  • Expanding electronics and telecommunication industry
  • Problems associated with graphene production
  • Hazardous effects caused by graphene
• Growth Projections

The market size is estimated to grow by USD 1837.4 million, at a CAGR of 47.85% during the forecast period. In the burgeoning biomedical sector, graphene's commercial potential is significant, particularly in cancer research. With cancer being the second leading cause of global deaths, according to the World Health Organization, accounting for approximately 10 million fatalities in 2020, the demand for innovative treatments is paramount. Graphene's role in this arena includes drug delivery systems, DNA sequencing, and medical devices. Its unique properties enable targeted cancer cell adhesion, enhancing the efficacy of radiological treatments and reducing side effects through infrared light absorption. This cutting-edge technology holds immense promise for the graphene market in the healthcare industry.

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• Regional Insights

In the dynamic graphene market landscape, the surging demand for this versatile material is primarily driven by its application in various sectors, including construction, automotive, electronics, aerospace, electrical, steel, and others. Notably, the burgeoning demand for electric and hybrid vehicles in Asia-Pacific countries, such as China, India, and Japan, is significantly increasing the consumption of graphene for manufacturing lithium-ion batteries. This trend is projected to propel the growth of the regional graphene market during the forecast period. China, being a major producer of graphene in the region, is leading the way with its extensive use of graphene powder in battery conductive additives, lithium battery materials, and special coatings, and graphene film for thermally conductive films, flexible displays, and sensors.

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