Graphene Market Size, Share Research Report

Graphene, hailed as a super material, is making significant strides in science and technology. Composed of carbon atoms in a covalent bond forming a honeycomb pattern, graphene is strong, lightweight, and flexible. Its exceptional properties are being leveraged across various industries to revolutionize products, adding strength, antiviral properties, and more innovative features. However, despite its strength, graphene has limitations such as a melting point and potential breakage when stretched. Its applicability spans energy, coatings, sensors, and more, making it a vital material in the global market.

Graphene's Role in Energy Storage and Sensor Technology

Graphene's potential applications in super batteries, supercapacitors, and wind and solar panels are driving the market due to its excellent electrical and thermal conductivity. Traditional lithium-ion batteries can see a dramatic increase in lifespan with graphene. The high resistivity of graphene enables the development of durable coatings, enhancing its value in the market. Additionally, graphene's use in ultra-sensitive sensors is propelling its demand globally. These sensors are not only crucial for detecting harmful substances but also for monitoring vital crops in agriculture. Graphene-powered sensors can detect harmful gases affecting crops and monitor atmospheric conditions to determine ideal growth environments.

Rapid Growth in Wearable Electronics

The expanding demand for graphene in electrical and electronic applications, coupled with its novel uses in the medical sector, are primary drivers of market growth. Graphene's potential in developing next-generation electronics such as transistors, flexible phones, semiconductors, sensors, and capacitors is significant. It is used as a coating on modern touch displays for tablets and phones. The adoption of wearable and flexible electronic devices is rising due to graphene's mechanical and conductive properties, fueling market growth in the electronics industry. In 2021, the number of connected wearable devices reached 929 million, up from 835 million in 2020. This growing number predicts a rise in the market in the coming years.

Advancements in Graphene Semiconductors

Graphene's conductivity and thinness have prompted research into graphene semiconductors, which could replace current computer chip technology due to their ability to conduct electricity at normal temperatures. In May 2019, Samsung Advanced Institute of Technology researchers developed a graphene-based transistor to improve semiconductor performance, revealing that graphene chips are faster than existing silicon processors. The growing use of graphene in semiconductors is expected to drive market growth in the upcoming years.

Graphene Nanoplatelets: Leading the Market

Graphene nanoplatelets dominate the market due to their lightweight, mechanical properties, and improved thermal and electrical conductivities. Their low cost and simple manufacturing process further boost the segment's growth. Graphene nanoplatelets enhance mechanical and tribological performance by improving barrier characteristics and thermal conductivity. They are mixed into polymer matrices to enhance mechanical properties, chemical resistance, and durability. As demand for graphene nanoplatelets rises, the market is expected to expand.

Asia Pacific: Major Market Shareholder

Asia Pacific is projected to remain dominant in the global graphene market, holding a major revenue share throughout the forecast period. The region's industrial sector's growth, particularly in China, is a significant driver. According to China's Ministry of Industry and Information Technology, lithium-ion battery output reached 324 GWh in 2021, up 106% year on year, with China's graphite reserves estimated at 73 million metric tonnes. This growing demand from the lithium-ion battery sector will accelerate market growth. Favourable government policies, funding, and academic research are also likely to drive regional product demand.

North America: Rapid Growth Prospects

North America is expected to rise rapidly due to the presence of small and medium-sized manufacturers with extensive distribution and supplier networks. Strong R&D activities, universities, and research institutes collaborate with manufacturers to produce next-generation graphene for electronics and aerospace, potentially boosting product demand. The large-scale presence of aircraft manufacturers in the United States is expected to increase the demand for lightweight composite materials. In 2020, the general aviation fleet in the U.S. was 204,980 aircraft, and the for-hire carrier fleet was 5,882 aircraft. The increasing number of aircraft will drive graphene demand due to its lightweight properties.

Global Graphene Market: Competitive Landscape

Companies in the graphene industry are forming alliances, collaborations, and partnerships and launching new products. In July 2021, Mason Graphite Inc. acquired critical assets related to a patented graphene processing technique from Thomas Swan & Co. Limited through its subsidiary Black Swan Graphene Inc., improving manufacturing efficiency. In June 2021, a collaboration between academics from the School of Engineering and a specialist Chinese materials company began creating graphene-based materials for purification and waste treatment applications. The University of Edinburgh signed a USD 1.64 million six-year collaborative research agreement with Jiangsu Dingying New Materials Co. Ltd.

Key Players in the Graphene Market

Prominent players in the graphene market include ACS Material LLC, Bluestone Global Tech, CVD Equipment Corporation, Graphene Nanochem Plc, Graphenea S.A., G6 Materials, Haydale Limited, Nanotek Instruments, Inc., Vorbeck Materials, and XG Sciences.

Regional Classification of the Global Graphene Market

North America: U.S., Canada

Europe: Germany, France, Spain, U.K., Italy, Russia, Rest of Europe

Asia Pacific: China, Japan, India, Southeast Asia, Rest of Asia Pacific

Latin America: Brazil, Mexico, Rest of Latin America

Middle East and Africa: GCC, South Africa, Rest of Middle East & Africa