Graphene Market

Graphene Market: By Material, Application, End-use, and Region

Market Synopsis

Global Graphene market is valued at USD 864.92 Million in 2022 and is projected to reach a value of USD 3548.96 Million by 2030 at a CAGR of 19.30% during the forecast period.

The growing demand for Graphene in numerous application industries such as electronics, energy storage, biomedical technologies, composites & coatings, and water & wastewater treatment along with the increased research & development activities are the major reasons for the Graphene growth. The Graphene is extremely beneficial in enhancing the lifespan of lithium-ion batteries and also helps in reducing the overall weight of the battery assembly. Thus, the demand for Graphene in the manufacturing of electric vehicles is growing which is anticipated to enhance the market demand in the near future. In addition, the growing popularity of graphene due to its superior characteristics is fuelling the growth of the Graphene market over the forecast period.

The rising demand for low electrical conductivity, low-density, durability, and high strength of the materials used in the body of aircraft is further estimated to propel the market growth in the years to come. Moreover, the increased demand for Graphene from the emerging economies is projected to drive the market demand during the forecast period. The increased demand for Graphene from energy storage applications is one of the key opportunities in the growth of the global Graphene market in the years to come. Besides, the difficulty in mass production and high production cost is major restraint in the growth of the Graphene market.

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Market Segmentation:

The global Graphene market is segmented on the basis of Material(Graphene Nano-platelets,Graphene Oxide,Reduced Graphene Oxide,Others),Application(Composites,Paints, Coatings, and Inks,Energy Storage & Harvesting,Electronics,Catalyst,Tires,Others),End Use(Automotive & Transportation,Aerospace,Electronics,Military & Defense,Others),Region(North America,Europe,Asia Pacific,Latin America,Middle East & Africa). Based on material, the market is segmented as graphene nano-platelets, graphene oxide, reduced graphene oxide, and others. By application, the market is segmented as composites, paints, coatings, and inks, energy storage & harvesting, electronics, catalyst, tires, and others. By end-use, the market is segmented into Automotive & Transportation, Aerospace, Electronics, Military & Defense, And Others.

Graphene Nano-platelets to Continue Dominating the Market

The graphene nano-platelets material dominated the market in 2021 with a revenue share of over 42%. The key properties of graphene nano-platelets such as mechanical properties, lightweight, and superior thermal and electrical conductivities, and easy manufacturing process, and low cost are likely to enhance the category growth over the coming years. Moreover, the graphene nano-platelets are added to polymer matrices to improve their chemical resistance, mechanical behavior, and their lifetime, which is estimated to enhance the market growth. Besides, the graphene oxide category is estimated to witness substantial growth in the global Graphene market. This is majorly due to the wide application of the category devices such as smartphones, optoelectronic devices, supercapacitors, flexible electronic devices, medical devices, and others.

Composites had a major share in Graphene Market

In 2021, the composites category accounted for a major share in the global Graphene market. The composites category had a share of more than 45% in terms of value and volume in the same year. The composites had a major share due to the growing demand for composites across industry verticals such as automotive & transportation, electronics, aerospace & defense, and others. The Graphene composites are used to improve the performance and quality of sporting equipment such as cycling, skiing, and others. Graphene is progressively used as a preservative in resin matrices as well as other materials to enhance mechanical properties, including durability, thermal and electrical conductivity, flexibility, stiffness, UV resistance, fire resistance, and weight reduction.

Electronics was the leader in the Graphene

The electronics category dominated the Graphene market in 2021. The segment had a revenue and volume share of more than 40% in the same year. The wide application of Graphene in the electronics industry and rising demand for electrical products worldwide are the major factors for category dominance. Besides, the aerospace & defense category is projected to witness lucrative growth in the years to come. This is majorly due to the high use of Graphene as it increases the functionality of the coatings and composites used in planes, helicopters, spaceships, and drone manufacturing.

Asia Pacific Graphene Market to Grow at the Fastest CAGR

In 2021, Asia Pacific had its dominance in the global Graphene market with over 35% of the market revenue and volume share in the same year. This is majorly due to the increased product demand across industries, such as marine, automotive, defense, and aerospace. Moreover, the growing industrial sector in Asia Pacific is anticipated to propel the market growth in Asia Pacific. The growing manufacturing sector in China and India is another key factor driving the regional market growth.

Besides, North America is projected to witness substantial growth during the forecast period. The presence of small and medium-scale manufacturers along with the growing demand from the aerospace and defense industry are the key factors for regional growth. The increased investments by government, as well as manufactures, are further estimated to enhance the demand for the market in the years to come.