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The global graphene electronics market will reach a valuation of $1.2 billion by 2025, increasing from $8.5 million in 2014 at a remarkable CAGR of 60.7% therein, according to a new report by Transparency Market Research.
Mainly driving this growth are the myriad applications of graphene. Currently, graphene field effect transistors (GFETs) that are based on chemical sensors and biosensors have the capability to derive results faster and more precisely than traditional sensors. Moreover, the superconductivity characteristic of graphene has led to its increasing utilization as an important element of advanced batteries and ultracapacitors.
In electronic devices, graphene-based chips are faster and dissipate heat better than traditional chips. Research is underway to develop flexible screens with the help of graphene and these are likely to be available commercially in the coming years. With further R&D and improved production methods of graphene, the graphene electronics market globally is expected to display a faster pace during the forecast period between 2015 and 2025.
On the basis of material, graphene film, graphene nano platelets (GNPs), graphene oxide, graphene foam, and others are the segments of this market. In 2014, graphene film stood as the largest segment with a share of more than 64% in the global market; the segment is expected to lead the market until the end of the forecast period. The growth of graphene films is attributed to their attractive price factor as compared to other graphene materials, and their increasing usability in electronic devices.
By application, the segments of the graphene electronics market are batteries and ultracapacitors, sensors, solar cells, lighting, electronic products body applications, display, electro mechanical systems (EMS), chips, memory, and others. Batteries and ultracapacitors stood as the largest segment in 2014 with a share of more than 63% in the global market; the segment is likely to maintain its leading position until the end of the forecast period. Graphene-based batteries and ultracapacitors exhibit high energy density and are also utilizable for alternative energy needs. Moreover, the rising demand for the longer battery life of electronic devices will positively impact the growth of this segment.
In 2014, North America stood as the largest market for graphene electronics with a share of more than 40% in the global market. In North America, the high level of research for developing graphene electronics to be used in electronic devices has been the reason for the dominance of this region.