Chinese Graphene Market Is Projected to Grow at a 70.9% CAGR From 2014 to 2020
Shanghai, China, November 12, 2015 (Newswire.com) - The Chinese graphene market revenues are projected to grow from an estimated $1.4 million in 2014 to a forecast $35.1 million by 2020, at a compound annual growth rate (CAGR) of 70.9%, according to a recently published market research report, “The World Market for Graphene – 2015 Edition”, by Innova Research. The report assessed the growth potential for major graphene market segments including electronics, energy storage, functional composite and R&D. Technology maturity and economic feasibility analysis were conducted for 16 graphene applications, including lithium supercapacitor, anti-corrosive additive, thermal spreader, conductive ink/film, SiG anode, radio frequency identification (RFID), sensor, among others.
Chinese is among the most active countries in the world on graphene research and development. Although the Chinese graphene industry is still at its early stage, graphene has been tested in numerous applications. Most of these applications are still on the trial test phases but the demand for graphene will kick in once the mass production of graphene-enabled products starts. In the past year, leading Chinese smart phone brands, including Lenovo, Xiaomi and Coolpad, started to produce smart phones equipped with graphene components. As a result, electronics is currently the largest graphene application segment in China, estimated to make up 73.2% of the Chinese graphene market revenue in 2014. However, the highest graphene revenue growth in the next five years is forecast for the energy storage application segment in China. Graphene is regarded as a feasible way to improve the performances of lithium batteries and other energy storage devices, to extend the life cycles and to enhance the energy capacities. Leading Chinese lithium battery and supercapacitor makers have already started to test graphene enabled batteries on electric vehicles, electric bikes, and other consumer electronics devices.
Dr. Nancy Wu, Research Director of Innova Research pointed out: “Many graphene applications are still at an early stage towards mass adoption, either because of the low technology maturity or the poor economic feasibility. Adding together the facts that China is one of the largest electric vehicle markets in the world, and there is a huge demand on improving the performances of lithium batteries and supercapacitors on EVs and other electronics devices, Innova Research believes that energy storage will be the fastest growing graphene application segment in China for the next five years.”
About Innova Research
Innova Research is a market research and consulting firm focusing on emerging technologies. With the combination of both technology and market research experts, we offer world-class market and technology intelligences. Driven by primary research, Innova Research’s market intelligence reports and consulting service help our clients to make right strategic and investment decisions in the fast-changing technology world. Visit www.innovaresearchinc.com for more information.
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