Graphene has been touted as a ?wonder material? with the potential to disrupt and revolutionize technologies utilized in electronics, energy, and other high-tech industries. Applications with higher technology readiness levels, including graphene-based polymer composites, lithium-ion (Li-Ion) batteries, water filtration systems, and oilfield chemicals, will drive initial commercial demand. By 2035, the world graphene market is expected to reach over $2 billion, supported by a more significant wave of commercialized graphene products in applications such as supercapacitors, high-frequency transistors, sensors, and biomedical technologies. In the shorter term, the global market for graphene is forecast to grow more than sixfold through 2020 to $136 million, supported by improved manufacturing technologies and falling prices, as well as by the ongoing development of novel graphene-enhanced products. Prospects for graphene as a disruptive technology are largely contingent on price reductions. As manufacturing processes improve and output of high-quality graphene nanoplatelets and graphene oxide is scaled up, prices are expected to fall rapidly, reaching levels more competitive with substitute materials by 2035. Semi-continuous processes (such as roll-to-roll methods) are expected to boost output of high-quality graphene film, enabling lower costs and wider adoption in applications such as flexible displays and transistors.Graphene-based composites feature the most promising near-term commercialization prospects of any market. Graphene?s thermal stability and impermeability are driving its use in food packaging, piping, and protective apparel applications, while its high mechanical strength and light weight make the material desirable for composites used in motor vehicles, aircraft, and military equipment. In the energy storage sector, producers of Li-Ion batteries are employing graphene materials to improve energy density. Graphene is also expected to find growing adoption in supercapacitors, as these technologies are increasingly used in electrical grids and renewable energy systems. While significant barriers (such as a zero band gap) are restricting short-term commercialization of many graphene-enhanced electronic devices, electronics will account for the leading share of total sales by 2035. In the near term, graphene?s superior electrical and thermal conductivity will drive its use in conductive coatings, electromagnetic shielding, and thermal management products for mobile phones and other portable devices. The US is forecast to remain the leading national market for graphene through 2035, bolstered by growing adoption of the material in high-performance composites and energy storage devices, as well as by rising research and development (R&D) spending in advanced electronics fields (such as optoelectronics). The Asia/Pacific region will rank as the top regional consumer of graphene, driven by the advanced electronics and energy storage industries of Japan, China, and South Korea. Like the US, these countries will remain at the forefront of graphene R&D, funding nanotechnology projects to further explore graphene?s potential. Western Europe will also remain an important regional market for graphene, as Germany, the UK, France, and Spain help lead the drive for the development and commercialization of graphene, particularly in advanced energy sectors.
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