Graphene Market Growth & Trends
The global graphene market is anticipated to reach USD 1.60 billion by 2030 and is anticipated to expand at a CAGR of 35.1% during the forecast period, according to a new report by Grand View Research, Inc. The increasing penetration of graphene in various end-use industries such as automotive, electronics, aerospace, construction, and medical is expected to boost the market’s demand. In addition, rising demand from various multi-national companies and research institutions for research and development purposes is further expected to escalate market growth.
The ongoing research and development in graphene production is also expected to boost product utilization in various applications. For instance, the flash joule heating technique identified in 2020 showed promising results. Studies have demonstrated that the carbon-carbon bonds are reorganized into a graphene structure when significant amounts of electricity is passed through any carbon source. By using this method, any carbon-containing material, such as coal or even trash, can be converted into numerous pounds of high-quality graphene at a comparatively low cost.
Current manufacturing methods are capital-intensive as well as require high energy and resource costs. While current amounts of graphene available in market can meet demands of researchers, full commercialization market is still in early phases. The process of developing a novel material, its manufacturing, and application for a company involves many pounds of graphene powder and hundreds of graphene sheets, as well as a significant amount of time and work. This could pose a challenge for the manufacturers of graphene.
The market is governed by a complex regulation that encompasses safety, health, and environmental concerns. The manufacturing, handling, and application of graphene materials are heavily regulated by national and international regulatory authorities. These strict guidelines include potential health risks and environmental impact while ensuring the proper production and usage. Market participants are anticipated to benefit from compliance with these regulations by gaining a competitive edge over their competitors.
The market is highly dynamic and exhibits intense competition, owing to the presence of various small and medium-scale manufacturers. Key industry participants emphasize investments in research & development and product innovations in order to gain a competitive edge.
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Graphene Market Report
Graphene Market Report Highlights
- Graphene oxide dominated the technology segment with more than 47.0% share in 2023 owing to its superior characteristics, including excellent thermal and electrical conductivity, transparency, permeability, and strength.
- Reduced graphene oxide segment is expected to grow at the fastest CAGR over the forecast period.
- Electronic component segment held the largest market share in 2023. Composite application is anticipated to witness fastest growth over the forecast period.
- The automotive end-use segment dominated the market in 2023. The growth of this industry can be attributed to the rising disposable income and increasing purchasing power of the middle-income population in emerging economies.
- Asia Pacific dominated the market owing to the presence of a large number of manufacturers and consumers. Increasing production volumes in various sectors including automobile, marine, defense, and aerospace are expected to drive the market in this region over the forecast period.
- Market players operating in market include Nanoxplore Inc.; Telga Group, Directa Plus S.p.A, Graphene Laboratories, Inc., GRAPHENE SQUARE INC, and ACS Material, Applied Graphene Materials, 2D Carbon Graphene Material Co., Ltd., Thomas Swan & Co. Ltd.
- In March 2023, Directa Plus S.p.A. announced the partnership with Colombo Industrie Tessili. Both companies produced a new innovative fabric, obtained using a graphene-based dyeing treatment. The key characteristic of this new fabric is its thermal capability, which allows for consistent temperatures and heat dispersion. The dyeing technique of Graphene Plus on the fabric imparts antistatic properties required by the military and workplace, as well as antimicrobial, antibacterial, and antiviral properties to the cloth.
Key Graphene Companies:
- Applied Graphene Materials
- 2D Carbon Graphene Material Co., Ltd.
- Thomas Swan & Co. Ltd.
- Graphene Laboratories, Inc.
- Graphensic AB
- GRAPHENE SQUARE INC
- AMO GmbH
- Talga Group
- ACS Material
- BGT Materials Limited, Ltd.
- CVD Equipment Corporation
- Directa Plus S.p.A.
- Grafoid Inc
- Graphenea
- NanoXplore Inc.
- HAYDALE GRAPHENE INDUSTRIES PLC
- Zentek Ltd.
