The global graphene market size is expected to reach USD 2,495.4 Million in 2028 and register a revenue CAGR of 18.5% over the forecast period, according to the latest report by Reports and Data. Factors such as increasing application in products, such as sensors, semiconductors, batteries, electronics displays, and medicine among others market revenue growth to a significant extent. Graphene has characteristics such as high mechanical robustness, lubricating properties, barrier properties to fluids, electrical conductivity, and thermal conductivity, which offer a potential to substitute existing materials in a variety of applications and these are essential and required in a number of existing as well as expanding areas of application.
Increasing application of graphene in energy storage devices is a key factor fueling market revenue growth. Graphene delivers increased charging cycles, energy storage capacity and deliver quicker charging and discharging advantages in batteries and supercapacitors based on lithium-ion. Moreover, graphene is used to increase not only the capacity and charge rate of batteries but also the durability. At present, materials such as lithium are used to store large amounts of energy, and the potential amount lessens on every charge or recharge due to electrode wear. With the application of graphene tin oxide as an anode in lithium ion batteries, for instance, batteries last much longer with approximately no reduction in storage capacity, effectively making technology like electric vehicles a much more feasible transport solution in the upcoming years.
However, technical limitations for commercial production is a major factor hindering market revenue growth. Manufacturing graphene for commercial purpose would require extraction of huge volume of sheets which is extremely difficult and presence of impurities/contaminants in extracted material which is very expensive to remove (at least at present). Additionally, when graphene is produced by heating graphite, it consists of toxic chemicals that were present in graphite. This can have a significant impact on graphene properties and can be harmful to humans if used in electrical devices and smartphones, among other products, used on a daily basis.
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Major players in the market include CVD Equipment Corporation, Graphenea, Graphene NanoChem PLC, 2D Carbon Graphene Material Co. Ltd., Haydale Graphene Industries PLC, NanoXplore Inc., Directa Plus SPA, Ningbo Moxi Technology Co. Ltd., Global Graphene Group, and Grafoid Inc.
Some Key Highlights from the Report:
- By product type, graphene nanoplatelets segment accounted for a significant revenue share in 2020, attributed to the extensive application of graphene nanoparticles in polymeric materials like composites, paints and coatings, rubber, thermoplastic elastomers, and adhesives owing to the high electrical conductivity, better thermal conductivity, strength, and enhanced barrier characteristics.
- By industry vertical, electronics segment contributed to largest revenue share in 2020 and is expected to maintain its dominance among other industry verticals throughout the forecast period. This is owing to increasing demand for graphene from telecommunication systems, optoelectronics, and defense electronics systems. Electronics sector is anticipated to observe significant growth in emerging markets like China, India, Malaysia, and Taiwan due to the increase in manufacturing activities in these countries and growing trend of digital transformation.
- By application, composites segment is expected to grow at a rapid rate over forecast period. Graphene-based composites can be used to weatherproof residential and commercial buildings or to produce food packaging materials to prevent transfer of water and oxygen that can spoil food. Also, these composites hold immense potential to be used to manufacture sporting goods used in tennis, cycling, skiing, and even sports car in the near future.
- Market in North America accounted for larges revenue share in 2020, attributed to. presence of several leading players in the region with intense research and development capabilities, which is expected to develop new growth opportunities in the forecast period. The U.S. is the largest consumer of graphene in across the globe. Wide ranging patent activities are adopted by market players in the US with several industry associations to develop graphene for use in various potential applications.
- In July 2021, Mason Graphite Inc. made an announcement about the introduction of Black Swan Graphene Inc. (a joint venture between Mason Graphite Inc. and Thomas Swan & Co. Limited). Through Black Swan, Mason Graphite also declared acquisition of strategic assets pertaining to Thomas Swan & Co. Limited’s patented graphene processing technology.
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For the purpose of this report, Reports and Data has segmented the graphene market based on technology, product type, application, industry vertical, and region:
Technology Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- Graphene Exfoliation
- Chemical Vapor Deposition
- Others
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- Graphene Oxide
- Graphene Nanoplatelets
- Monolayer Graphene
- Bilayer Graphene
- Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- Composites
- Energy Storage
- Coatings & Inks
- Tires
- Catalyst
- Others
Industry Vertical Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- Aerospace
- Automotive
- Energy
- Healthcare
- Electronics
- Military & Defense
- Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Israel
- Rest of MEA
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