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The global graphene market size is expected to showcase a considerable growth by reaching USD 2,864.1 million by 2027. This is attributable to the increasing adoption of smartphones that consist of graphene materials across the globe. Fortune Business Insights, in its latest report, titled, “Graphene Market Size, Share & COVID-19 Impact Analysis, By Product (Graphene Oxide (GO), Graphene Nanoplatelets (GNP), Others), By End-Use (Electronics, Aerospace & Defense, Automotive, Energy, Others), and Geography Forecast, 2020-2027.”, observes that the market stood at USD 225.1 million in 2019 and is likely to exhibit a stellar CAGR of 39% between 2020 and 2027.
ZEN Solutions Announces the Sales Albany Pure TM Products
In March 2020, ZEN Graphene Solutions Ltd. announced the launch of Albany Pure TM graphene products on their company website. The company plans to introduce its product line that consists of graphite oxide, graphite quantum dots, and reduced graphite oxide, among others for sale in the global marketplace. Additionally, the company is expanding its new facility located in Guelph, Ontario that will facilitate large-scale production of the products.
“We have accomplished a major milestone in 2020 by looking forward to generating revenue from the manufacturing and sale of Albany Pure TM products.”, commented Francis Dube, CEO of ZEN. According to the business development plan of the company, it is proactively working with other industries to functionalize the products in other applications with an aim to leverage business opportunities through agreements and partnerships. The companies undertaking such initiatives are expected to bode well for the growth of the global market during the forecast period.
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Increasing Adoption of Smartphones to Propel Demand
The fast-paced urbanization and the growing adoption of technology have led to the introduction of innovative mobile devices. The growing popularity of smartphones amongst younger generations and for general use globally is expected to surge the demand for graphene products that are used as a coating to improve the touch screens of mobile devices. The increasing adoption of smartphones can be ascertained through facts that over 3.5 billion people globally own a smartphone that contributes to over 45.4% of the world population. Therefore, the rising sales of smartphones are expected to drive the global market in the forthcoming years.
Major Companies Focus on R&D Activities to Consolidate Their Market Position
Key players such as Graphenea, Inc, XG Sciences, Grolltex, Inc, and AMO GmbH, among others hold a major global graphene market share. These companies are largely focusing on R&D activities to improve the product quality and further expand its application to strengthen their positions in the highly competitive global marketplace. The other companies such as ZEN Solutions, Inc are adopting strategies such as merger and acquisition, partnership, the introduction of new products, and collaboration that is anticipated to favor the market growth in the forthcoming years.
List of the Companies Operating in this Market, globally:
Further Report Findings:
Table of Segmentation:
Value (USD Million)
Product; End-Use; and Geography