Graphene Sensors Market - Forecasts from 2024 to 2029

Graphene Sensors Market - Forecasts from 2024 to 2029

The graphene sensors market is valued at US$493.185 million in 2024 and is expected to grow at a CAGR of 32.29% over the forecast period to reach a total market size of US$1,998.226 million in 2029.

Graphene is a two-dimensional material made of carbon atoms. It is 200 times stronger than steel but is still lightweight and transparent. Graphene is so dense that it does not let the smallest helium atom pass through it. It is used widely in biosensors and diagnostics as it enhances the surface loading of desired biomolecules, excellent conductivity, and the electrode surface. It also enables the sensors to be smaller and lighter, providing endless design possibilities. Compared to traditional sensors, graphene sensors are quick, less expensive, and can even detect small changes. The increasing awareness about health and the increasing use of nanotechnology in various industry verticals drive the market for graphene sensors. The various technological innovations and developments concerning nanotechnology will also support the market's growth.

GRAPHENE SENSORS MARKET DRIVERS:

The Graphene sensors market is driven by the rising growth of the electronics industry globally

With innovative advancements in the electronics sector worldwide, the application of graphene sensors is expected to rise multifold in the coming years. Due to the unique properties of graphene material, these sensors are anticipated to be used across multiple applications in the projected period. Further, its usage in semiconductors due to its thinness and conductivity is expected to make these sensors potential solutions for computer chips and other electronic devices.

Graphene Sensors Market Segment Analysis
Consumer electronics industry to show substantial growth in the end-user segment

Consumer electronics is estimated to be a significant end-user industry for graphene sensors. This industry uses graphene for various applications, including unbreakable touchscreens, transistors, supercharged batteries, optical electronics, printed electronics, and conductive inks, among others. The industry has been continuously making significant progress, which is expected to drive the demand for the graphene sensors market rapidly. The growing production of cellular phones, portable computing devices, gaming systems, and other personal electronic devices drives the demand for electronic components, which is also expected to boost the demand for graphene sensors.

Major developments in various countries worldwide are expected to boost the consumer electronics sector, thus driving the graphene sensors market growth. For instance, India is expected to grow in its digital economy along with the growth of the electronics system design and manufacturing (ESDM) sector. Additionally, electronics production in India is also expected to increase rapidly. All these possibilities have been predicted due to government initiatives like Make in India and the National Policy of Electronics, as well as the government's moves to lower import dependence and boost exports and manufacturing, which is expected to drive the electronics industry. Germany has the largest electronic industry in Europe. Furthermore, according to the German Electrical and Electronic Manufacturers' Association, in December 2021, the electro and digital industry sales in Germany accounted for EUR 18.1 billion, witnessing an annual growth rate of 8.5% compared to December 2020. Thus, this growth in the electronics industry, especially consumer electronics, is projected to drive substantial growth in the graphene sensors market due to increased demand.

Asia Pacific to hold significant shares of the market

The Asia-Pacific region is estimated to hold a significant share of the graphene sensors market. Due to rapid industrialization and the growth of graphene-based application patents in the region, the graphene sensors market is anticipated to witness high growth. China is known to have one of the largest production bases for electronics and offers tight competition to the existing upstream producers, such as South Korea, Singapore, and Taiwan, which is expected to drive the demand for graphene sensors in the region. According to the International Air Transport Association, India is expected to become the third-largest aviation market globally by 2027. The country is projected to have a demand for 2,100 aircraft over the next two decades, amounting to a value of over USD 290 billion in sales. Due to these factors, the demand for graphene from the aerospace sector is expected to rise.

According to the Stockholm International Peace Research Institute, China allocated an estimated USD 293 billion to its military in 2021, an increase of 4.7% compared to 2020. This growth is thus expected to drive the demand for these sensors in the defence sector. Further, several lined-up projects in the region are further projected to propel the demand for graphene sensors. For instance, the Photovolt Ukushima Solar PV Park, a 480 MW solar PV power project planned in Nagasaki, Japan, is currently in the permitting stage. After the completion of the construction, the project was commissioned in July 2023. Thus, all these factors are expected to drive substantial growth for graphene sensors in the regional market.

Graphene Sensors Key Market Developments:

July 2022: Haydale Graphene Industries PLC collaborated with Vittoria SpA, a performance bicycle tire-producing company, on the co-development and supply of functionalized graphene nanomaterial in addition to the rubber of bicycle tires. Following the contract, Haydale ordered 1 ton of functionalized graphene. The two firms also finalized terms for producing functionalized graphene in Thailand near the Vittoria factories in the medium term.
March 2022: GMG (Graphene Manufacturing Group) Ltd and Amec Foster Wheeler PLC signed a non-binding Letter of Intent for GMG's major graphene manufacturing expansion projects. With this agreement, Amec would support GMG for the scaling and automating its proprietary natural gas to the graphene manufacturing process.

Graphene Sensors Key Market Players:

Nanomedical Diagnostics is a leading player in the Graphene sensors market that provides a wide range of graphene-based medical sensors. The company has an established presence in the United States.
Graphenea is a top company that offers innovative Graphene (GFET) Chemical Sensors. The company provides products with ultra-high mobility and low resistivity.
Haydale Limited is a prominent company that offers a broad portfolio of Graphene-based biosensors. These biosensors detect biomolecules using technologies such as DNA biosensors, enzyme biosensors, and immunosensors. The company's major applications include checking food and water quality and outdoor air monitoring.

The Graphene Sensors market is segmented and analyzed as follows:

By Product Type

Biosensors
Optical Sensors
Temperature Sensors
Others

By End-user Industry

Healthcare
Consumer Electronics
Aerospace and Defense
Automotive

By Geography

North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
UK
Germany
France
Italy
Others
Middle East and Africa
Saudi Arabia
UAE
Others
Asia Pacific
China
Japan
India
South Korea
Thailand
Indonesia
Others