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U.S. Graphene Market Size, Share & COVID-19 Impact Analysis, By Product (Graphene Oxide, Graphene Nanoplatelets (GNP), and Others), By End-use Industry (Electronics, Aerospace & Defense, Energy, Automotive, and Others), and Regional Forecast, 2023-2030

Last Updated: May 27, 2024 | Format: PDF | Report ID: FBI108296

 

KEY MARKET INSIGHTS

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The U.S. graphene market size was valued at USD 50.9 million in 2022 and is projected to grow from USD 65.2 million in 2023 to USD 401.4 million by 2030, exhibiting a CAGR of 29.7% during the forecast period.


Graphene is an atom-thick layer of carbon atoms that are arranged in a hexagonal lattice. It is a great conductor of electricity and heat. The product has superior light absorption abilities. It is a diverse material that can also be combined with different materials such as metals and gases. It is the thinnest and strongest material having exceptional thermal and electrical conductivity.


The product is used in a wide range of applications such as sensors, electronics, biomedical devices, and energy storage. It has potential applications in various industries such as electronics, healthcare, energy, aerospace, and automotive.


The U.S. graphene market share is expected to grow significantly in the coming years, driven by the increasing demand for lightweight and high-performance materials in various applications.


LATEST TRENDS


 Development of Graphene-enhanced Composites is an Emerging Trend in the Market


Graphene can be added to various materials such as plastics, metal, and ceramics to enhance their properties such as strength, durability, and conductivity. This has led to the development of new graphene-enhanced composites for use in a range of applications such as aerospace, automotive, and construction. The exceptional mechanical, electrical, thermal, and optical properties make the product an ideal candidate for enhancing the properties of composites.


The development of enhanced composites has been an active research area in recent years, with the goal of improving the performance of materials in different industries. The U.S. is home to some of the world’s leading research institutions, and ongoing research & development activities are expected to drive the U.S. graphene market growth.


DRIVING FACTORS


Superior Product Properties to Boost Market Growth


Graphene is a new lightweight material with unique and superior properties, which is used for the preparation of its derivative compounds and has various possibilities in several fields. This product has high thermal and electrical conductivity, high flexibility, elasticity, hardness, and exceptional strength.


The product is 200 times stronger than steel and has exceptional wear resistance. It has the ability to absorb energy before breaking down and can withstand huge loads, which makes the product a worthy opponent against other strong materials, including diamond. These properties enable and enhance the use of the product for producing solar energy. For instance, using graphene in solar panels will upsurge its efficiency and harvest more energy, further driving its usage in the energy industry.


Graphene also has good chemical reactivity, which allows it to serve as one of the base materials for the development of new and enhanced materials. Additionally, it is a very dense material that does not even allow small atoms including helium to pass through it except for water molecules. These and many other features make this the material of the future for fields related to medicine, construction, architecture, and many other sectors.


Recent studies have found numerous uses of the product in medical segment as scientists determined that it can be used to improve treatments to fight cancer. This treatment involves a technique of injecting the patient with chemically modified graphene particles. Due to the material’s ability to absorb infrared light, the irradiation of the radiotherapy acts directly on the damaged cells, without distressing the rest of the body, causing fewer side effects in patients.


Thus, various product properties allow its usage in multiple areas ranging from electronics to medical applications. This is expected to fuel the market growth.


RESTRAINING FACTORS


Adverse Effect on the Environment is Likely to Hinder Market Growth


GFN, the 2D carbon nanomaterial, may act as an ecological hazard if these particles are released into 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.


KEY INDUSTRY PLAYERS


Key Players are Adopting Strategies to Maintain their Position in the Market


The U.S. graphene market is fragmented, with key players operating in the industry such as NeoGraf Solutions, Graphenea, and ACS Material. Other key players include XG Sciences, U.S. 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.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS:



  • July 2021- Graphenea and Grapheal joined forces to quicken the study on biosensors with GraphLAB, a graphene-based product. GraphLAB is a next-gen assessment method for protein disease and screening detection.

  • February 2020- The production of XG graphene-enhanced polyurethane engine covers was initiated. These covers are now available on all Ford and Lincoln light truck boards and passenger cars. The product has increased compression strength by 20%, heat deflection temperature by 30%, NVH sound absorption by 17%, and reduced weight by 10%.

  • January 2020- ACS material introduced Graphene/Silver Nanowire Composite Transparent Conductive Film (TCF), which has enhanced performance than its TCF precursors.


REPORT COVERAGE


The 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 in the U.S. and analyzes the industry's latest market dynamics and opportunities.


To gain extensive insights into the market, Request for Customization


Report Scope & Segmentation


















































ATTRIBUTE



DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 29.7% from 2023 to 2030



Unit



Value (USD million)



Segmentation



By Product and End-use Industry



By Product




  • Graphene Oxide

  • Graphene Nanoplatelets (GNP)

  • Others



By End-use Industry




  • Electronics

  • Aerospace & Defense

  • Energy

  • Automotive

  • Others



 





Frequently Asked Questions

Growing at a CAGR of 29.7%, the market will exhibit steady growth in the forecast period (2023-2030).

The superior product property is the major factor driving the growth of the market.

NeoGraf Solutions, Graphenea, ACS Material, and XG Sciences are the major market players in the U.S.

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