The global stretchable conductive material market size was valued at USD 434.7 million in 2016. The market is expected to show significant growth over the forecast period owing to the high dependence on photovoltaics. Various factors like growing electricity demand and rising healthcare expenses worldwide are expected to drive the stretchable conductive material market over the forecast period.
Increase adoption of renewable power in industrial, utilities, the healthcare sector will propel the stretchable conductive material industry expansion over the forecast period. The growing stringent government regulations on the carbon emissions imposed on the industries worldwide are expected to augment the market growth for the stretchable conductive material market growth over eight years.
Extensive manufacturing of stretchable conductive materials by market players such as Dupont and Co., 3M, Chasm Technologies, US Research Nanomaterials, Advanced Nano Materials, Applied Nanotech in the U.S. is expected to promote industrial use for the stretchable conductive materials, which in turn is projected to fuel demand. The growing demand for solar power has been one of the major drivers for the stretchable conductive materials market which in turn is anticipated to create immense market opportunities over the forecast period.
Graphene is likely to gain momentum in the near future, due to its distinctive properties such as high electrical and thermal conductivity, and the barrier to the permeation of water and oxygen. The high charge carrier mobility, chemical and thermal stability and flexibility it is widely used in the thermal and chemical sensors. The application can be used in electronics, printed electronics, and packaging will fuel market demand over the next eight years.
Increased awareness regarding newer technologies in the wearables in U.S., Mexico, Japan, and China is expected to promote the development of wearable technologies over the years ahead. However, low awareness regarding wearable technologies is expected to hinder product growth over the forecast period. Technological advancements in order to increase output, and reduce costs will create immense industry potential in the near future.
Growing electricity demand as a result of increasing population and infrastructure will increase the adoption of photovoltaics in the solar power panels. An increase in government expenditure, followed by stringent norms to promote renewable power will boost the growth of the demand for photovoltaics.
Graphene was the dominant product segment and accounted for 31.46% of the global market in 2016. It is expected to witness significant growth on account of its increased applications in various industries. Graphene demand will witness rise over the forecast period on account of high consumption in the large-scale installations of the solar power grid.
Increasing usage of these materials in solar power, biomedical applications will propel its demand over the forecast period. Moreover, factors such as the rising population and urbanization in Mexico, Turkey, China, India, Thailand, and Bangladesh are expected to augment these applications, thereby rising demand.
The photovoltaics segment is expected to witness significant growth at a CAGR of 26.4% from 2017 to 2025 as a result of increasing usage of renewable energies in the solar power grids. Increasing renewable power spending in Chile, Peru, and Mexico as a result of government support for promoting investments is expected to propel market size.
The increasing population and electricity demand in China and the U.S. are the factors that are expected to play a crucial role in driving the usage of photovoltaics in the power grid applications. Furthermore, the establishment of new production units in power generation in Middle East countries including Saudi Arabia, Iran, and Israel owing to the favorable initiatives to promote the investments is expected to expand the market penetration over the next eight years.
Asia Pacific is expected to show significant revenue rise at a CAGR of 26.4% from 2017 to 2025 on account of the extensive production of electricity in China, and India. Ongoing industrialization, the rising population along with increasing foreign investments in the solar power grids and healthcare sectors will drive the industry expansion over the forecast period.
The positive intends towards biomedical in healthcare in the U.S., China, Japan, Germany, and France owing to the increased population is expected to play a crucial role in increasing the application of biomedical.
Various government initiatives in India including “Housing for All by 2022” and “Atal Mission for Rejuvenation and Urban Transformation (AMRUT)” for improving the housing sector is expected to increase the penetration of electricity facilities for the urban population, which in turn will augment market size.
North America was the prominent market and accounted for 41.55% of the overall industry share in 2016. The robust presence of manufacturing facilities of renewable power, pharmaceuticals, chemicals, food & beverage, and automotive in the U.S. and Mexico is expected to promote the demand for solar power grid the next eight years.
The global Graphene industry is highly dynamic and competitive in nature owing to the presence of various small and large-scale manufacturers and the availability of raw materials. The market is dominated by various major participants including Xiamen Knano Graphene Technology Co., Ltd, 2-D Tech, Abalonyx, ACS MaterialAdnano Technologies, Angstron Materials.
The graphene market is expected to witness strong competition over the next eight years on account of increasing investment in research and development activities, product innovation, and reducing product costs.
Key players in the market are focusing on increasing their market share along with profitability through establishing strategic partnerships with regional players and distributors by providing accessibility in technological expertise for the solar power grid and healthcare sectors including pharmaceuticals, food & beverages, and oil & gas.
This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global Stretchable Conductive Material market on the basis of product, configuration, application, and region:
- Product Outlook (Revenue, USD Million, 2014 – 2025)
- Carbon Nanotube
- Application Outlook (Revenue, USD Million, 2014 – 2025)
- Regional Outlook (Revenue, USD Million, 2014 – 2025)
- North America
- The U.S.
- Asia Pacific
- Central & South America
- Middle East & Africa
- North America