India Graphene Market on a Record-Setting Spree: Projected to Grow at a CAGR of 20.1% by 2027
Published | 20 October 2021
India graphene market is growing at a high CAGR because of the flourishing electronics and automobile industry in India and expanding research and development activities…
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the India graphene market is estimated to grow at a CAGR of 20.1% during the forecast period of 2021-2027. India graphene market is growing at a high rate because of the driving factors such as the expanding application and demand in various industries such as electronics, construction, aerospace, military, defense, etc. The advanced properties of graphene make it a suitable material for manufacturing anti-corrosion coatings and paints, efficient and precise sensors, efficient electronics, flexible displays, solar panels, faster DNA sequencing, etc. Such a wide range of graphene applications is one of the major factors propelling the growth of the India graphene market. Another factor propelling the market’s growth is extensive research and development activities, which are likely to boost during the forecast period.
Increasing Investment in Renewable Energy Sources Is Expected to Drive the India Graphene Market
Renewable energy sources such as solar panels and solar cells rely heavily on graphene. Investing in renewable energy and switching from hydroelectricity is a significant trend in India. The graphene market in India is likely to benefit from this development. Graphene offers high electronic conductivity, transparency, and flexibility, which makes it an ideal material for heterojunction solar cells. The application of graphene in renewable energy includes electrodes, acceptor layers, donor layers, buffer layers, etc. These applications are anticipated to drive the growth of the India graphene market.
Expanding Automobile Production Is Projected to Boost the India Graphene Market Growth
India is a major automobile producing hub with a high concentration of leading manufacturers such as Tata Motors, Ashok Layland, Mahindra & Mahindra, Hero MotoCorp, etc. These companies are significantly investing in the expansion of their manufacturing capacity. The demand for graphene in India is likely to rise in tandem with the growing automobile industry. Graphene is prominently used as a sensor that can be used to monitor air inlets and exhausts for improved engine operation. This material can also be used in thermoelectric elements that can recover waste heat from the motor. Such applications of graphene in the automobile industry are likely to drive the market in the forecast period.
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India Graphene Market - By End-User
Based on end-users, the India graphene market is segmented into automotive & transportation, aerospace, electronics, military & defense, construction, and others. Among these, the electronics segment accounts for the largest market share. However, the construction segment is expected to emerge with a substantial growth rate in the forecast period. India is an emerging economy and therefore, the government and private institutions are making significant investments in infrastructure development and construction of residential and commercial spaces. Graphene is prominently used in construction activities to provide a waterproof coating for buildings. It can also be used to combat freezing and melting issues in extremely cold buildings. When used as an additive, graphene preserves the color of concrete and cement. These properties of graphene and its benefits to the construction industry are likely to propel the growth of the India graphene market.
Impact of COVID-19 on India Graphene Market
Initially, the COVID-19 pandemic severely hampered India's graphene market. The operations of end-user industries such as aerospace, automotive and transportation, electronics, and so on resulted in a dramatic decline in graphene demand in India. However, graphene emerged as a possible material for developing high-performance components and gadgets to fight the COVID-19 virus. Several forms of research, for example, have stressed the use of graphene in upcoming diagnosis tools for COVID-19 detection. The expanding scope of graphene in COVID-19 is likely to drive graphene demand in India in the post-COVID-19 period.
India Graphene Market: Competitive Landscape
The leading players in the India graphene market are Adnano Technologies, AVANSA Technology & Services, Bottom-Up Technology Corporation, Carborundum Universal Limited, Hexorp, KNV'S, Nanomatrix Materials, NanoResearch Elements, Nanospan, Platonic Nanotech, Ultrananotech, and other prominent players.
Despite its relatively new nature, the market is highly fragmented with several industry participants, which means there is scope for new entrants as well. To meet the growing demand for various industries, the market players aim to offer a broad range of products. They are also significantly investing in R&D activities to widen their product’s scope. Furthermore, the adoption of competitive strategies like partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the India graphene market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the India graphene market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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- India Graphene Market, By Type (Graphene Oxide (GO), Graphene Nano Platelets (GNP), Others), By Application (Composites, Energy Harvesting & Storage, Paints, Coatings & Inks, Electronics, Catalyst, Tire, Other), By End User (Automotive & Transportation, Aerospace, Electronics, Military & Defense, Construction, Others) Trend Analysis, Competitive Market Share & Forecast, 2017-2027
Publish Date: October 2021
India Graphene market is growing at a high rate because of the driving factors such as increasing demand for graphene in the electronics and automobile industry and growing investment towards the development of renewable energy sources.
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