"Innovative Market Solutions to Help Businesses Make Informed Decisions"
The global graphene market size was valued at USD 337.0 million in 2022 and is projected to grow from USD 432.7 million in 2023 to USD 2,957.9 million by 2030, exhibiting a CAGR of 31.6% during the forecast period.
Graphene is a carbon allotrope composed of a monolayer of atoms arranged in a 2D honeycomb lattice nanostructure. It is revolutionizing the aerospace industry as it improves the functionality of the coatings and composites used in drones, helicopters, planes, and spaceship manufacturing. It helps in increasing the mechanical properties making it thinner and decreasing weight.
Increasing Demand from the Biomedical Industry During Pandemic Boosted Market Growth
The development of graphene technology and its applications accelerated radically during COVID-19 due to its exceptional properties including flexibility, conductivity, and antibacterial and antiviral efficacy. Graphene-based protective equipment, drug delivery, bio-sensors, and treatment systems were developed and utilized to fight against COVID-19.
However, contrary to the healthcare and biomedical sectors, the electronics and energy sectors experienced a negative impact from COVID-19 owing to the logistics slowdown, decline in demand, and restricted access to raw materials for production.
The biomedical industry experienced fast-paced growth due to the outbreak of the COVID-19 pandemic. Extreme effort and advances were initiated to counter this global outbreak. This material, with its antiviral and antimicrobial efficiency, has attracted the attention of the scientific community in discovering its role and applications in the inhibition, detection, and treatment of COVID-19.
Request a Free sample to learn more about this report.
Increasing R&D Activities of Graphene-based Sensors is the Emerging Trend in the Market
Graphene is an active chemical sensor in electrolyte-gated arrangements. Graphene-based top-gate insulators can be manufactured with 1 to 5 nm thickness in an electrolyte, with a concentration of a few millimolar, which the best top-gate Field-Effect Transistors (FETs) that have Atomic Layer Deposition (ALD) cannot match.
The market for photoelectric sensors is fundamentally the same as indium-tin-oxide (ITO) substitutes in transparent conductors. High electrical conductivity and its transparency make it an attractive option for making transparent electrodes in photovoltaic cells and photoconductive sensors.
Growing Product Penetration in the Electronics Industry to Aid Growth
Owing to its exceptionally high electrical & thermal conductivity and its lightweight nature, it is preferably suitable for electronics applications. The electrons in this allotrope of carbon have higher mobility and therefore speed more when applied electric field as compared to semiconductors that are extensively employed in electronic devices including silicon. Owing to these properties, it produces more proficient devices that function faster than traditional substitutes while using less power.
Owing to this material’s high mechanical resilience, it is capable of tolerating comparatively higher voltages. This is likely to influence growth as industries are embracing a greater degree of electrification.
Graphene film is one of the strong alternatives for indium tin oxide. Indium tin oxide is a commercial product that is extensively used in touch screens of smartphones, tablet computers as a transparent conductor, and electrodes in OLEDs and solar cells. Growing demand for touchscreen technologies and products is likely to foster the graphene market growth.
Negative Environmental Impact is Likely to Restrain Market Growth
Graphene Nanomaterials (GFN) have obtained acceptance within nanotechnology research owing to their adaptable carbon-based structure, which enables them to be used for various applications, moving forward in different fields. However, there are certain concerns involving the material and its role in a sustainable future.
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 material production increases, it is vital for regulatory bodies, such as the Environmental Protection Agency (EPA), to understand the probable environmental impact of the product. These factors are expected to limit market growth.
NP to Dominate Due to Demand from Aerospace and Automotive Industries
Based on product, the graphene market is segmented into Graphene Nanoplatelets (GNP), Graphene Oxide (GO), and others.
GNP segment accounted for the largest market share in 2022 and is expected to continue its dominance until 2030. These are advanced nanoparticles widely used in applications such as medical devices, conductive inks, energy, composites, and coatings. Increasing demand for lightweight composite constituents in automotive and aerospace industries due to their surface hardness, strength, and stiffness properties will drive market growth. Several R&D activities are performed to commercialize GNP production.
GO is likely to show significant gains during the forecast period owing to the growing demand for nanotechnology in the electronics and semiconductor industry. Moreover, the growing application of GO in a wide range of end-use sectors, including textile, automotive, construction, aerospace & defense, healthcare, and electronics is one of the key factors anticipated to drive the growth of the market during the study period.
To know how our report can help streamline your business, Speak to Analyst
Aerospace & Defense Segment Holds a Significant Share owing to Extensive Adoption of the Material
In terms of end-use industry, the graphene market is classified into electronics, aerospace & defense, automotive, energy, and others.
Graphene is revolutionizing the aerospace industry as it improves the functionality of the composites and coatings used in drones, planes, helicopters, and spaceship 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 vehicles’ 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.
Asia Pacific Graphene Market Size, 2022 (USD Million)
To get more information on the regional analysis of this market, Request a Free sample
Asia Pacific held the largest graphene market share and is anticipated to dominate the market during the forecasted period owing to favorable policies by the governments, academic research, and funding, which is likely to boost the market in the region. Also, the presence of large-scale manufacturers and consumers and the rise in production in various industries, such as automobile, defense, marine, and aerospace, are expected to drive the market in the region.
The North American market is estimated to witness significant growth owing to growing demand from aerospace and energy industries and high product demand for efficient, eco-friendly, strong, and lightweight goods, driving the market growth in the region. The increasing installation of GO in batteries and solar cells for better performance would further increase the market revenue.
The graphene market in Europe is anticipated to witness a significant growth rate and may continue its dominance during the forecast period owing to increasing investments in R&D activities.
Latin America is predicted to experience exponential growth during the forecast period owing to the use of GO in a wide range of application transistors, capacitors, semiconductors, and sensors.
To know how our report can help streamline your business, Speak to Analyst
The Middle East & Africa market is expected to experience a moderate growth rate during the forecast period. The demand from the automotive sector for products, such as graphene-based batteries in anti-crash systems, vehicles, tires, and more, is growing due to its excellent properties such as electrical conductivity, tensile strength, and thermal conductivity.
Key Players are Adopting Strategies to Maintain their Position in the Market
The global graphene market is fragmented with key players operating in the industry such as Haydale Graphene Industries plc, NanoXplore Inc., Applied Graphene Materials, Graphenea, Directa Plus S.p.A, and ACS Material. Other key players include XG Sciences, Global Graphene Group, and Grolltex Inc. Manufacturers are also expanding their business to gain competency in the industry and alleviate new entrants’ threats.
Market participants are fiercely competing with international and regional players with extensive distribution networks, regulatory know-how, and suppliers. In addition, companies sign contracts, acquisitions, and strategic partnerships with other market leaders to expand their existing market presence.
An Infographic Representation of Graphene Market
To get information on various segments, share your queries with us
The research report provides a detailed analysis of the graphene market and focuses on crucial aspects such as leading companies, product, and end-use industries. 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 contributing to the market's growth in recent years.
This report includes historical data & forecasts revenue growth at global, regional, and country levels and analyzes the latest market dynamics and opportunities.
Value (USD Million)
CAGR of 31.6% during 2023 to 2030
By Product, End-use Industry, and Region
By End-use Industry
Fortune Business Insights says that the global market size was USD 337.0 million in 2022 and is projected to reach USD 2,957.9 million by 2030.
In 2022, the Asia Pacific market size stood at USD 113.2 million.
Growing at a CAGR of 31.6%, the market will exhibit steady growth during the forecast period (2023-2030).
The electronics segment is expected to be the leading segment in this market during the forecast period.
The growing product penetration in the electronics industry will aid the market growth.
Haydale Graphene Industries plc, NanoXplore Inc., Applied Graphene Materials, Graphenea, Directa Plus S.p.A, and ACS Material are the major players in the global market.
Asia Pacific dominated the market share in 2022.
Superior product properties and its rising demand from the energy industry are expected to foster growth of the market.
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- Global hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry