Graphene Market Size, Share & COVID-19 Impact Analysis, By Product (Graphene Oxide (GO), Graphene Nanoplatelets (GNP), Others), By End-Use (Electronics, Aerospace & Defense, Automotive, Energy, Others), and Geography Forecast, 2021-2028

The global graphene market size was USD 285.9 million in 2020 and is projected to grow from USD 388.8 million in 2021 to USD 4,067.1 million in 2028 at a CAGR of 39.8% during the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with the product witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the global market exhibited a huge decline of 27.0% in 2020. The sudden rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.

The growing demand for lightweight, flexible, and renewable materials that offer durability is likely to drive the global market size. Expansion in semiconductor & electronics, energy, automotive, and composites industries globally is a key factor in augmenting the product demand. The product is significantly stronger than steel and diamond. Additionally, it is a superior conductor of electricity and heat and finds applications in memory chips, laptops, and mobile phone screens. Excellent properties such as electrical and thermal conductivity, strength, toughness, high permeability, high electron mobility, and durability are expected to expand the product's demand in various applications.

COVID-19 Effect: High Demand for Multi-Utility Graphene-based Products to Bolster Market Growth

Antibody-conjugated graphene sheets rapidly detect the virus and can be suitable for large population screening, environmental sensors, and filter developments depending on their material costs. Functionalized products demonstrate a good viral capture capacity when combined with light or heat, preferably being adopted as a disinfectant. Graphite filters are produced for capturing bacteria and other particulates to reduce the transmission of nosocomial infection.

These sensors can be executed on drug efficacy screening and standard utility textiles to fight against COVID-19. During the pandemic, several European manufacturing companies such as Directa Plus and Graphenea are offering free samples to various researchers and research institutions to build a diagnostic device that could help fight against the novel coronavirus. Further, Grolltex, a U.S. based company is acclimatizing the company’s existing biosensors, that are used to detect viral strains or flu strains explicitly for detecting coronavirus.

LATEST TRENDS

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Technologies Creating Environmentally Sustainable Solutions to Favor Growth

Most of the R&D companies are creating product-based technologies that can improve environmental sustainability and lead to effective wastewater management while having a nominal impact on the environment, and low water usage. As the product is highly conductive, it is well suited to the renewable energy sector mainly solar panels, renewable energy storage, and batteries. In April 2017, researchers at the University of Warwick discovered that including products into anode structures is likely to double the lifespan of Li-ion batteries for electric vehicles.

DRIVING FACTORS

Growing Product Penetration in the Electronics Industry to Surge Demand

Graphene has the potential to create next-generation electronics such as transistors, bendable phones, semiconductors, sensors, capacitors, and other electronics. It is used as a coating to improve the current touch screens for tablets and phones. The use of wearable and flexible electronic devices is increasing rapidly owing to the product’s mechanical and conductivity properties, thus driving the market growth in the electronics industry. In November 2019, researchers at the Institute of Metal Research, the Chinese Academy of Sciences, built a transistor, which is a silicon-germanium transistor.

Conductivity and thinness properties have led to the research in graphite semiconductors. These could replace the existing technology for computer chips as they have the ability to conduct electricity at room temperature. For example, in May 2019, Samsung Advanced Institute of Technology, a team of researchers developed a transistor to increase semiconductor performance. Also, research has shown that graphite chips are faster than the existing chips which are made from silicon.

The rise in disposable income and the growing demand for consumer electronics including mobile phones and tablets shall augment the market growth. In addition, the product transmits 97% of light making it highly transparent coupled with heat, and conductive properties are likely to create promising opportunities for solar panels and battery industries.

Several researchers from different research institutes have developed a foam-based battery using the material. It is mainly designed to bridge the gap between the capacitors and batteries. It is based on Li technology and has a similar capacity to weight ratio to the existing Li-ion batteries. For example, in February 2013, Argonne National Laboratory (ANL) collaborated with California Lithium Battery (CalBattery) for the commercialization of lithium anode battery to be used with its new GEN3 silicon composite anode materials to accomplish a new Li-ion battery performance levels. These factors may drive the graphene market growth.

RESTRAINING FACTORS

Negative Environmental Impact is Likely to Restrain Market Growth

Researchers at the Riverside Bourns of Engineering, the University of California, found that GO nanoparticles are very mobile in streams and lakes and can cause a negative impact on the environment if released. The use of GO is increasing, but at the same time, it is considered to be toxic to humans as well. As the production increases, it is vital for the regulatory bodies, such as the Environmental Protection Agency (EPA), to understand the probable environmental impact of the product.

SEGMENTATION

By Product Analysis

GNP Segment to Hold a Dominant Share in the Global Market

On the basis of product, the market is categorized into GO, GNP, and others.

GNP accounted for the largest market share in 2020 and may continue its dominance until 2028. These are advanced nanoparticles widely used in applications such as medical devices, conductive inks, energy, composites, and coatings. Increasing demand for lightweight composite materials in aerospace and automotive industries due to their strength, surface hardness, and stiffness properties will drive market growth. Several R&D activities are performed to commercialize GNP production. Various non-government and government research institutes are entering into strategic partnerships with various commercial manufacturers for product development and innovation.

GO is likely to show significant gains during the forecast period owing to the growing demand for nanotechnology in the electronics and semiconductor industry. It is dispersible in water and other solvents and comes in solution or powder form used for coating on the substrates. The product has a high surface area and can be used as an electrode material for solar cells, capacitors, and batteries. It is easier to manufacture and is comparatively cheaper. As the product easily mixes with materials and polymers, it enhances the properties of the composite materials.

By End-Use Analysis

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Aerospace & Defense Segment to Hold a Significant Share Owing to Extensive of the Adoption of the Material

On the basis of end-use, the market is segmented into electronics, aerospace & defense, automotive, energy, and other plastics.

Graphene is revolutionizing the aerospace industry as it improves the functionality of the coatings and composites used in helicopters, planes, spaceships, and drone manufacturing. It helps in increasing the mechanical properties making it thinner and decreasing weight. Thus, improving fuel-saving and reducing emissions over an aircraft’s lifetime. The product is used to create lighter and damage tolerant helicopter and aircraft structures owing to high electrical conductivity, thus creating de-icing systems integrated into the wings.

The global automotive industry is facing challenges such as energy efficiency, safety, and reduction of carbon emissions. This will improve the vehicle's dimensional stability, creating a potential opportunity in the automotive industry. The product is used in coatings and composites to make strong, safe, and light vehicles. It can replace steel, aluminum, and carbon fiber and improve vehicle dimensional stability.

REGIONAL INSIGHTS

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The polyurethane market size in Europe stood at USD 94.74 million in 2020 and may continue its dominance during the forecast period owing to increasing investments in R&D activities. In June 2019, the European Union (EU) invested USD 1.16 billion in the Graphene Flagship, which would leverage the product into commercial markets. This project will bring together industrial and academic research institutes to ensure the commercialization of the product making Europe an economic powerhouse for such technologies. The rising focus on environmental sustainability has augmented the demand for hybrid and electric vehicles in the region, thereby propelling the industry growth.

The market in North America is anticipated to have a significant growth rate owing to the presence of small and medium scale manufacturers in the region. Strong research & development activities, universities, and research institutes collaborate with manufacturers to develop next-generation graphene for electronics and aerospace industries, which, in turn, may bolster the product demand. The large-scale presence of aircraft manufacturers in the U.S. is further likely to boost the demand for lightweight composite materials.

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The Asia Pacific market may witness significant gains during the forecast period. Increasing demand for advanced materials in aerospace, automotive, electronics, and energy storage industries mainly in China, Japan, and India shall boost this market. China is the leading country in energy storage products, and about 50% of the product is utilized by lithium-ion batteries. Furthermore, favorable government policies, funding, and academic research are likely to surge the product demand in the region.

KEY INDUSTRY PLAYERS

Involvement in R&D Activities and Product Innovations By Key Players to Expand Applications and Improvise Product Quality

The global graphene market share is consolidated with key players operating are XG Sciences, Graphenea, Inc., AMO GmbH, Grolltex Inc., ACS Material, LLC, and others. These companies are involved in the distribution and supply of the products to small and medium scale businesses to strengthen their market position. Also, companies focus on R&D activities to improvise product quality and expand their applications.

ZEN Graphene Solutions is a development and advanced materials company that focuses on new solutions using two-dimensional materials and pure form. All the products are made from Pure Graphite, obtained from the Albany deposit. Besides, the venture offers the corporation a probable long-term competitive benefit in the overall market.

LIST OF KEY COMPANIES PROFILED:

• XG Sciences(U.S.)


• Graphenea, Inc.(U.S.)


• ACS Material, LLC(U.S.)


• CVD Equipment Corporation(U.S.)


• Global Graphene Group(U.S.)


• AMO GmbH(U.S.)


• Applied Graphene Materials plc(U.S.)


• Graphene One(U.S.)


• Grolltex Inc.(U.S.)


• DIRECTA PLUS S.p.A.(Italy)


• CHINA CARBON GRAPHITE INC(China)


• NanoXplore Inc.(Canada)


• Thomas Swan & Co. Ltd.(U.K.)

KEY INDUSTRY DEVELOPMENTS:

• In July 2021, Mason Graphite Inc., through its subsidiary Black Swan Graphene Inc., acquired strategic assets related to a patented graphene processing technology from Thomas Swan & Co. Limited. This factor will increase the company’s manufacturing efficiency.


• In June 2021, The School of Engineering researchers and a specialist Chinese materials company launched a collaborative project to develop graphene-based materials for use in purification and waste treatment applications. The University of Edinburgh has signed a six-year collaborative research agreement with Jiangsu Dingying New Materials Co Ltd, worth USD 1.64 million.


• In March 2021, First Graphene Ltd collaborated with Gerdau S.A. to develop the market for PureGRAPH graphene products in the Americas. Gerdau S.A. will be the exclusive distributor for First Graphene’s range of products in Brazil, South America, and the U.S. 

REPORT COVERAGE

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The global graphene market research report provides a detailed analysis of the market and focuses on crucial aspects such as competitive landscape, end-use, and products. Also, the report offers insights into market trends and highlights vital industry developments. In addition to the factors mentioned above, the report encompasses various factors that have contributed to the growth of the market over recent years.

Report Scope & Segmentation