"Innovative Market Solutions to Help Businesses Make Informed Decisions"
The global graphene market size was valued at USD 269.6 million in 2021. The market is projected to grow from USD 337.0 million in 2022 to USD 2,172.2 million by 2029, exhibiting a CAGR of 30.5% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with graphene experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a decline of -0.2% in 2020 as compared to 2019.
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, thereby making it thinner and decreasing weight.
Increasing Demand from the Biomedical Industry to Boost Market Growth
The development of graphene technology and its applications accelerated radically during COVID-19 due to its exceptional properties, including flexibility, conductivity, antibacterial, and antivirus 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 logistics slowdown, decline in demand, and restricted accessibility to raw materials for production.
The biomedical industry experienced fast-paced growth due to the outbreak of COVID-19. Extreme effort and advances were initiated in limiting contacts to counter this global outbreak. The 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 of Graphene-based Sensors is an Emerging Trend
Graphene is an active chemical sensor in electrolyte-gated arrangements. Graphene-based top-gate insulators can be manufactured with thickness ranging from 1 to 5 nm 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 photoconductive sensors and photovoltaic cells.
Growing Product Penetration in the Electronics Industry to Aid Growth
Owing to its exceptionally high thermal and electrical 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 up more when applied on an 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 films are 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 and computers as a transparent conductor and electrode in OLEDs and solar cells. Growing demand for touch screen technologies and products is likely to foster 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 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 graphene production increases, it is vital for regulatory bodies, such as the Environmental Protection Agency (EPA), to understand the probable environmental impact of the product.
GFN, a 2D carbon nanomaterial, may act as an ecological hazard if these particles are released into the air, water, and soil. Furthermore, succeeding environmental influences, including chemical, physical, and biological transformation, can occur on GNM, resulting in changes in their structural, chemical, and physical properties.
These changes can be a concern to the environment as they can further lead to changes in the toxicity levels of GFNs. Exploring any possibility of subsequent toxicity caused by these changes and their effect on the environment is very crucial for a sustainable future. These factors are expected to limit the market growth.
GO Segment to Gain Momentum due to Increasing Applications from Various End-use Industries
Based on product, the market is segmented into graphene oxide (GO), graphene nanoplatelets (GNP), and others.
GNP accounted for the largest market share in 2021 and is expected to continue its dominance until 2029. 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.
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 electronics, automotive, aerospace & defense, construction, textile, and healthcare, is one of the key factors anticipated to drive the growth of the market during the forecast period.
To know how our report can help streamline your business, Speak to Analyst
Aerospace & Defense Segment to Hold a Significant Share Owing to Extensive Adoption of Material
In terms of end-use industry, the market is classified into electronics, aerospace & defense, automotive, energy, and others.
The product is revolutionizing the aerospace industry as it improves the functionality of the coatings and composites used in planes, drones, 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 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 dimensional vehicle stability.
Asia Pacific Graphene Market Size, 2021 (USD Million)
To get more information on the regional analysis of this market, Request a Free sample
The Asia Pacific region held the largest graphene market share and is anticipated to dominate the market during the forecast period. During this period, favorable policies by the government, research, and funding will boost the market growth in the region. Also, the presence of large-scale manufacturers and consumers and the rise in the production in various industries, such as automobile, defense, marine, and aerospace, are expected to drive the market in the region.
The market in the North America region is estimated to witness significant growth, owing to growing demand from the aerospace and energy industries, as well as high demand for eco-friendly, strong, efficient, and lightweight goods, driving the graphene 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 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.
To know how our report can help streamline your business, Speak to Analyst
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. The Middle East & African 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 Competing with Domestic and International Market Players to Gain Market Position
The global market share is fragmented, with key players operating in the industry. Most of the manufacturers are also extending their business to attain proficiency in the industry and improve novel entrants’ intimidations.
Market applicants are aggressively contending with international and regional players with expansive distribution networks, supervisory know-how, and suppliers. Moreover, companies sign deals, mergers, and tactical collaborations with other market leaders to extend their market reach.
An Infographic Representation of Graphene Market
To get information on various segments, share your queries with us
The global graphene market research report provides a detailed analysis of the market and focuses on crucial aspects such as leading companies, products, 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 industry's latest market dynamics and opportunities.
Value (USD Million)
By Product, End-use Industry, and Region
By End-use Industry
Fortune Business Insights says that the global market size was USD 269.6 million in 2021 and is projected to reach USD 2,172.2 million by 2029.
In 2021, the Asia Pacific market size stood at USD 90.6 million.
Growing at a CAGR of 30.5%, the market will exhibit steady growth during the forecast period (2022-2029).
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 2021.
Superior properties and its rising demand from energy industry is expected to foster growth of the market.
“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