Global Graphene Market Size, Share & COVID-19 Impact Analysis, By Product, End-use Industry, By Region Forecasts, 2024 – 2032

Global Graphene Market Size, Share & COVID-19 Impact Analysis, By Product, End-use Industry, By Region Forecasts, 2024 – 2032

The global graphene market size was valued at US $ 333.7 Million in 2023 and is expected to reach US $ 2,957.9 Million by 2032 growing at a CAGR of 31.6% during the forecast period 2024 – 2032.

The market is anticipated to be driven by the rising penetration of composite applications and the expanding electronics industry in emerging economies. Due to the growing need for research and development from research institutes and international corporations, the graphene sector is also anticipated to experience significant expansion. Active chemical sensors are based on graphene in electrolyte-gated arrangements. Graphene-based synthetic top-gate insulators with thicknesses ranging from one to five nanometers are accessible at concentrations between two and three millimoles. Its capability is the highest, in contrast to ALD TGFETs.

In basic terms, the markets for photoelectric sensors and transparent conductor ITO substitutes are identical. It is a sought-after material for the production of clear electrodes in solar cells and photoconductive detectors because of its transparency and strong electrical conductivity. The aerospace industry's use of graphene and the growing need for printed electronics are anticipated to propel the market in the medium run. Graphene's disadvantages, however, prevent the market from expanding. Opportunities for the market under investigation are anticipated to arise from the creation of graphene nanodevices for DNA sequencing and the integration of graphene into photodetectors. With the largest market share, the Asia-Pacific area is anticipated to lead the graphene market over the course of the forecast year.

“Graphene Nanoplatelets segment, by product, to be dominating market from 2023 to 2030.”

The GNP segment held the biggest market share in 2022, and it is anticipated that this situation would hold true until 2030. It has been discovered that the sophisticated nanoparticles are advantageous for usage in composites, coatings, medical equipment, energy, and conductive inks. Because of its use in the aerospace and automotive industries, lightweight composite components with high strengths, stiffness, and hard surfaces will propel market expansion. To get their GNP products onto the market, they invest a lot of time and resources in R&D.

The semiconductor and electronics industries' need for nanotechnology will result in a sharp rise in GO's growth rate over the projection period. Between 2015 and the end of the forecast period, the growing application of GO in various end-use sectors, such as healthcare, automotive, construction, aerospace & military, fabric, and electrical, is anticipated to be a significant contributing driver to market expansion.

“Aerospace and defense segment, by end user, to be dominating market from 2023 to 2030.”

Graphene is revolutionising the aerospace sector by enhancing the performance of related composites and coatings, which are used in the building of spacecraft, aircraft, helicopters, and drones, among other vehicles. It improves their mechanical properties, making them lighter, more fuel-efficient, and emitting less emissions throughout the course of their lifespan. Due to its strong electrical conductivity, the substance is utilised in the construction of lightweight, damage-tolerant helicopter and aircraft constructions.

The global automotive sector also has to deal with issues of energy efficiency, low-carbon emissions, and safety. As a result, the cars will have greater three-dimensional integrity, opening up new market opportunities for the auto industry. Utilising their products, composites and coatings are produced in a lightweight, secure, and durable vehicle. Rather of being swapped out for steel, aluminium, or carbon fibre, it might be used to improve the dimensional stability of cars.

“Asia Pacific to be largest region in Graphene market.”

Asia-Pacific currently held the greatest graphene market share, and it was predicted that this trend would continue during the forecasting period due to favourable capital allocation, governance regulations, and academic research geared at advancing the market in the area. Notable is also the explosive rise in output, consumers, and large-scale international corporations in broad industries like aircraft, automotive, military, and marine.

In order to meet the demands of the aerospace and energy industries, a market for robust, lightweight, efficient, and environmentally friendly goods has grown significantly in North America. The market revenue for this business segment would rise in tandem with the growing usage of GO in batteries and solar cells to improve these goods' performance over time. As a result of growing investments in research and development, the European market is expected to rise impressively over the projection period, potentially maintaining its leadership position. Throughout the projection period, there should be a significant increase in the usage of GO in Latin America for sensors, capacitors, semiconductors, and transistors.

Graphene Competitive Landscape

The competitive landscape of the Graphene market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Graphene technology holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The Graphene market is highly competitive, with numerous companies vying for market share. Prominent companies in the Graphene Market include:

Haydale Graphene Industries plc (U.K.), ACS Material (US), Graphenea (US), Global Graphene Group (US), XG Sciences (US), Grolltex Inc (US), Applied Graphene Materials (U.K.), Directa Plus S.p.A (Italy), Thomas Swan & Co. Ltd. (U.K.), Talga Group (Australia), NanoXplore Inc. (Canada), Graphite Central, First Graphene (Australia), and others.

Recent Developments:

December 2022: As a result, Haydale's prepreg enhanced with graphene is a product meant for low-cost composite tooling that has longer endurance, smoother surface appearance, and increased heat conduction.

July 2021: To expedite the development of graphene-based biosensors, Graphenea and Grapheal co-developed a product called Graph Lab. A very advanced evaluation tool for illness identification and proteome screening/profiling is GRAPH LAB.

July 2021: In an effort to be more sustainable, AGM developed new natural gum polymer (GNP) dispersion formulations. Coatings, paints, and composite material users will use these dispersions to enhance the environmentally friendly aspects of various formulation items.

February 2020: Production of polyurethane engine covers with XG graphene infusion began in February 2020. All light van boards and passenger vehicle models from Ford and Lincoln are currently available with these covers. It has led to a 10% decrease in weight, a 30% rise in HDT, and a 17% improvement in NVH acoustics performance.

January 2020: The Graphene/Silver Nanowire Composite TCF from ACS Materials outperforms its TCF predecessors in terms of performance.