The global graphene market was valued at US$ 162.1 million in 2021, according to Graphene Market Report, by Product Type (Graphene Nanoflakes, Graphene Oxide, CVD (Chemical Vapour Deposition) and Others), by Application (Composites, Conductive Films & Inks, Energy, Transistors, and Others) and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
The global graphene market is expected to reach US$ 2,152.9 Mn by 2028, exhibiting a CAGR of 44.7% during the forecast period (2021-2028). The market is expected to witness significant growth over the forecast period, attributing to rising demand of graphene in various applications such as conductive films & inks, composites, and energy applications along with growing demand from end-use industries including energy, composites & coatings, and biomedical. Moreover, graphene is widely used in electronic components and in various applications such as semiconductors, sensors, and super capacitors, owing to its thermal and electrical conductivity and a large surface-to-volume ratio.
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Browse 50 market data tables* and 40 figures* on "Global Graphene Market” - Forecast to 2028.
Key Trends and Analysis of the Global Graphene Market:
Graphene is a potential solution to enhance energy capacity of devices such as electronic products including mobile phones and computers, with the help of graphene incorporated batteries. Therefore, growth of the electronics industry is expected to drive demand for graphene in the global market. According to the Japan Electronic and Information Industries Association (JEITA) in November 2021, imports of consumer electronics equipment market in Japan amounted to 642,186 million Japanese yen (USD 5,645.80 million) while the Exports amounted to 293,086 million Japanese yen (USD 2576.23).
Key Takeaways of the Global Graphene Market:
- Among applications, conductive films & inks segment accounted for 39.9% of the global graphene market, in 2020. Moreover, energy segment is projected to record fastest growth of about 46.1% in the global graphene market during the forecast period. Non-renewable energy sources such as crude oil are depleting at a high rate, however, energy demand is increasing with growing population. Therefore, there is a rising need for development of renewable resources. For instance, In July 2021, the Ministry of New and Renewable Energy (MNRE) gave the go ahead to NTPC Renewable Energy Ltd., a 100% subsidiary of NTPC, to build a 4,750 MW renewable energy park at the Rann of Kutch in Khavada, Gujarat. This will be India's largest solar park to be developed by the country's leading power producer.
- Graphene offers excellent electrical properties and therefore, it is being considered as a promising solution for generating clean energy for a sustainable future. Graphene products possess properties such as high surface area, large electrical conductivity, light weight nature, and chemical stability; therefore, they are considered as potential solution in the energy industry such as for solar cells, batteries, super capacitors, hydrogen storage, and fuel cells. These applications of graphene is likely to drive the demand for graphene worldwide in the near future.
- Among regions, North America held a dominant position in the global graphene market in 2020, whereas Asia Pacific accounted for the second largest revenue share followed by Europe. Growing end-use industries such as automotive industry is expected to boost demand for graphene in Europe because composites are expected to experience the highest development in the coming years, due to their weigh and power enhancement ability. These are used in a range of fields including manufacturing, aerospace, and automotive. By adding little amount of graphene to materials such as metals, ceramics and polymer, manufacturers are able to develop strong and lightweight materials with high electrical conductivity and heat resistance.
- Major players operating in the global graphene market include Graphensic AB, BGT Materials Limited, Graphenea SA, Graphene Square Inc., ACS Material, LLC, Chongqing Moxi Technology Co., Ltd, Grolltex Inc., CealTech AS, Thomas Swan & Co. Ltd, and XG Sciences Inc.
- Technology launches, acquisitions, and R&D activities are some of the key strategies adopted by players in the global graphene market. For instance, In October 2019, XG Sciences, a manufacturer and supplier of graphene and Terrafilum announced a joint development agreement to produce and market 3D printing filaments and coatings using graphene-based materials.
Global Graphene Market - Impact of Coronavirus (COVID-19) Pandemic
Antibody-conjugated graphene used for detection sheets, this sheets may quickly identify the virus and depending on their material prices, can be used for large-scale population screening, environmental sensor, and filter creation. When paired with light or heat, functionalized goods have high vital capture capability making them ideal for use as a disinfectant. To minimize the spread of nosocomial infection, graphite filters are used to capture bacteria and other particles. These sensors can be executed on drug adequacy screening and standard utility textiles to battle against COVID-19. During pandemic a few European manufacturing organizations, for example, Directa plus, a leading producer and supplier of graphene nanoplatelets and Graphenea, a leading graphene company are offering free samples to various researchers and research institutions to build diagnostic device that could help fight against the COVID-19.
