Japan Graphene Market Growing Massively: Projected to Grow at a CAGR of 17.0% by 2027
Published | 18 October 2021
Japan graphene market is growing at a high CAGR because of the flourishing electronics and automobile industry in Japan and expanding research and development activities. The growing demand for graphene in the country’s semiconductor and electronics industries is also driving the Japan graphene market…
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the Japan graphene market is estimated to grow at a CAGR of 17.0% during the forecast period of 2021-2027. The growth of the Japan graphene market is attributable to factors such as the country’s flourishing electronics and automobile industry. Japan is a global leader in technological advancements. Therefore, the Japan graphene market is likely to grow due to the expanding production in the electronic industry. Graphene is mostly utilized as a coating for phone and tablet touch screens. It is also used to manufacture computer circuitry, which is propelling its market growth. However, the harmful impact of graphene on human and animal bodies may be a major impediment to the Japan graphene market.
Expanding Research and Development Activities is Projected to Drive the Japan Graphene Market Growth
Graphene research and development activities are significantly attracting the attention of the government as well as private entities due to their growth potential. Several research institutes are prominently indulged in R&D activities surrounding graphene to expand its application as well as study its potential characteristics. For instance, physicists in the US and Japan have observed superconductivity in a graphene-based material during the application of very high magnetic fields. These observations are expected to bring improvements in technologies such as MRI, and further contribute to its market growth.
Wide Range of Graphene Application is Anticipated to Boost the Japan Graphene Market
Graphene has a wide range of applications as it possesses outstanding properties, such as high thermal conductivity, electrical conductivity, elasticity and flexibility, high hardness, resistance, etc. Therefore, this material is used in various major industries, such as electronics, construction, aerospace, etc. Due to its high conductivity, graphene is also used in the energy sector to store renewable energy. With the increasing shift towards renewable energy, the demand for solar panels is likely to surge, propelling the growth of the Japan graphene market.
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Japan Graphene Market - By End User
Based on end-users, the Japan 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 aerospace segment is anticipated to emerge with substantial growth during the forecast period. This is because graphene has exceptional mechanical properties, which make it lightweight. This further results in reduced emissions and safer fuels. This is why it is widely used in helicopters, planes, spacecraft, etc., as coatings and composites.
Impact of COVID-19 on Japan Graphene Market
The sudden outbreak of the COVID-19 pandemic tremendously halted the Japan graphene market. When end-user operations such as construction, automobiles, electronics, etc., were halted, graphene demand plummeted significantly. Additionally, graphene research and development activities were stymied as the development of vaccines took precedence over graphene research and development. Market conditions are also expected to improve as the lockdown is lifted from these countries following COVID-19. In the forecast period, the companies are likely to expand production, especially in the electronics industry, which will boost the graphene market in Japan.
Japan Graphene Market: Competitive Landscape
The leading players in the Japan graphene market are OCSiAl, Graphene Platform Corporation, Osaka Gas, AirMembrane Corporation, Tracxn, NanoGraf Corporation, Adeka, IBM Labs, Kaneka InALA - Incubation Alliance, and other prominent players.
The market is fragmented, with the presence of several industry participants. Nevertheless, there is plenty of room for new entrants as the market is still in its infancy. The market players focus on strengthening their distribution and supply chain to increase product penetration among small and medium-sized businesses. They are also investing significantly in R&D activities to improve the quality of their graphene products. Furthermore, the adoption of competitive strategies like partnerships, mergers, acquisitions, joint ventures, etc., are also prominent in this market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Japan graphene market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the Japan 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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