SHANGHAI, June 27, 2018 (Newswire.com) - The Chinese graphene market revenues were estimated to grow over 14 folds from approximately RMB 8.7 million in 2014 to RMB 127 million in 2017, according to a market research report entitled “The Chinese Graphene Market - 2018 Edition,” recently published by Innova Research, a Shanghai-based market research and consulting firm focusing on emerging technologies.
The Chinese graphene market has been growing rapidly since a number of graphene companies started their commercial shipments in 2015, and followed by the next two years of increasing market penetration to downstream applications, such as anti-corrosion coating, energy storage, including high-efficiency conductive liquid, heat dissipation, electrode surface modification, among many others. Meanwhile, it should be noted that both global and Chinese graphene markets are at their infant stages. Despite the growth rate being high, the Chinese graphene market is still small in terms of revenue, estimated at RMB 127 million in 2017.
On the other hand, Innova Research’s report also revealed that graphene encountered technical and market bottlenecks in terms of technology maturity and cost at some application fields. For example, the adoption of graphene film in touch screens is slower than expected, undermining the sales of a few graphene film suppliers in 2017.
According to the above-mentioned report, it is forecast that the Chinese graphene market revenue will further grow to RMB 190 million, an over 49 percent growth on 2017. Main market drivers include but are not limited to the development of the new graphene applications, the increasing investments in the graphene sector by both local governments and private sectors, and the decreasing average selling prices (ASPs) of graphene materials. According to Innova Research, the penetration of graphene in functional textiles, LED lighting and graphene-reinforced materials will see significant growth potential in the next few years.
Nancy Wu, research director of Innova Research, commented, “The Chinese graphene market has grown remarkably and exceeded the RMB 100 million milestone in 2017. Looking forward, Innova Research believes new graphene applications will continue to emerge. The Chinese graphene market is expected to keep growing significantly for the next few years with the development of production technologies, the declining prices and the development of new applications for graphene.”
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 the right strategic and investment decisions in the fast-changing technology world. Visit www.innovaresearchinc.com for more information.
Source: Innova Research