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, 2020-2027

The global graphene market size was valued at USD 225.1 million in 2019 and is projected to reach USD 2,864.1 million by 2027, exhibiting a CAGR of 39% during the forecast period.

The growing demand for lightweight, flexible, and renewable materials that offer durability is likely to drive the global market. Expansion in the semiconductor & electronics, energy, automotive, and composites industries, globally is considered as a key factor in augmenting the product demand. The product is 200 times stronger than steel and is tougher than 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 thermal and electrical conductivity, strength, toughness, high permeability, high electron mobility, and durability are expected to expand the product demand in various applications.

COVID-19 Effect: High Demand for Multi-Utility Graphene Products to Bolster 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. Also, Grolltex, a U.S. based company is acclimatizing the company’s existing biosensors, which 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 structure 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. Wearable and flexible electronics are growing 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, Chinese Academy of Sciences, built a transistor, which is a silicon-germanium transistor.

Conductivity and thinness properties have led to market research in graphite semiconductors. These could replace the existing technology for computer chips as they can 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 per-capita 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 graphene foam-based battery, 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 batteries to be used with its new GEN3 silicon composite anode materials to accomplish new Li-ion battery performance levels.

RESTRAINING FACTORS

Negative Environmental Impact is Likely to Restrain the Market Growth

Researchers at the Riverside Bourns of Engineering, the University of California found that graphene oxide (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

Graphene Nanoplatelets (GNP) Segment to Hold a Dominant Share in the Global Market

Based on product, the market is categorized into graphene oxide (GO), graphene nanoplatelets (GNP), and others.

GNP dominated the market in 2019 and may continue its dominance up to 2027. These are advanced nanoparticles that are widely used in applications such as medical devices, conductive inks, energy, composites, and coatings. Increasing demand for lightweight composites materials in the aerospace and automotive industries owing to their strength, surface hardness, and stiffness properties shall drive the 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 that is 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 in the Market

Based on 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. In July 2018, the University of Central Lancashire, based in the UK, introduced Juno, an unmanned flying wing that is entirely covered with graphene. It is strong, flexible, and lightweight, which is ideal for aeronautics.

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 can improve vehicle dimensional stability.

REGIONAL INSIGHTS

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The market in the North American market was USD 63.2 million in 2019 owing to the presence of small and medium scale manufacturers in the region. Strong research & development activities, along with universities and research institutes collaborating with manufacturers to develop next-generation graphene for electronics and aerospace industries are expected to 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.

Europe accounted for the major revenue share in 2019 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 graphene industry's growth.

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The Asia Pacific market may witness significant gains during the forecast timeframe. 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

Companies are Engaged in R&D Activities and Product Innovation Remains the Key Brand Recognition and Market Entry Stratagem

The global graphene market share is consolidated in nature with key players operating are XG Sciences, 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 are focusing on R&D activities to improvise product quality and expand its applications.

ZEN Graphene Solutions is a development and advanced materials company that is focusing 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 (Germany)


• Applied Graphene Materials plc (UK)


• 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. (UK)


• Other Key Players

KEY INDUSTRY DEVELOPMENTS:

• In July 2021, Mason Graphite Inc. announced the launch of Black Swan Graphene Inc. of a Definitive Agreement pursuant to which Mason Graphite has agreed, through Black Swan Graphene, to purchase strategic assets related to a patented graphene processing technology from Thomas Swan & Co. Limited.

• 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.

• 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 February 2021, Applied Graphene Materials (AGM) announced that its customer, Infinity Wax, a manufacturer of car care products in Europe, launched a second car care product enhanced with the Company's graphene technology. Using AGM's Genable graphene nanoplatelet dispersions, Infinity Wax has launched Graphene Wax, a new generation of high-performance car wax.

• In May 2021, Applied Graphene Materials (AGM) collaborated with Tru-Tension to launch a new detailing spray enhanced with AGM’s graphene nanoplatelet technology.

REPORT COVERAGE

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The graphene market report provides a detailed analysis of the market and focuses on crucial aspects such as leading companies, 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