Graphene Market Size, By Product (Graphene Oxide, Graphene Nanoplatelets, Mono-layer & Bi-layer Graphene), By End User (Electronics, Aerospace & Defense, Energy, Automotive, Healthcare), Industry Analysis Report, Regional Outlook, Application Growth Potential, COVID-19 Impact Analysis, Price Trends, Competitive Market Share & Forecast, 2022 - 2030

Industry Overview

Graphene Market size surpassed USD 86.17 million in 2021 and is estimated to exhibit a CAGR of 31% from 2022 to 2030. Graphene is a tightly packed thin layer of carbon atoms bonded in a hexagonal lattice. Since its discovery, extensive research has been conducted on the product and its applications in various industries such as automotive, aerospace, defense, and electronics.
 

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Governments and private companies are investing heavily in enhancing product features and simplifying the production process. For instance, in February 2022, the Kerala government formed a joint venture between Tata Steel Limited and Digital University of Kerala, Centre for Materials for Electronics Technology (C-MET) for the development of a graphene innovation center. The project cost will be nearly USD 10 million.
 

Furthermore, the graphene market is primarily driven by the electronics industry owing to remarkable properties including good electrical & thermal conduction, high electron mobility, permeability, and heat resistance. This makes the product competent to develop technologically advanced equipment as per the evolving customer demands. Growth indicators from the electronics & semiconductor industry will drive the market demand as it is extensively used in mobile phones and laptop computers.
 

High raw material costs along with complex manufacturing processes due to the heavy machinery & equipment used to produce graphene products are major factors estimated to hamper the overall graphene market expansion in the coming years. Bottom-up and top-down are the major graphene manufacturing processes.
 

Rising graphene penetration in the electronics industry will fuel the industry landscape

Graphene market from electronics segment will generate around USD 370 million by 2030. The electronics industry has been a major contributor to drive the revenue generation owing to its application in producing laptops, computers, and microchips. Graphene possesses versatile properties and demonstrates superior strength, toughness, durability, and conductivity for various end uses upon combination with other products. Rapid advancements in the electronics industry, primarily in North America, due to the rapidly evolving consumer demand owing to strong socio-economic factors will support industry expansion during the forecast period.
 

High thermal & electrical conductivity will spur product demand

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The graphene market form graphene oxide segment is expected to grow at a CAGR of 32% during the forecast period. Graphene is versatile in terms of its properties as its oxidized form can be deposited onto any substrate. It finds extensive applications across the electronics industry for producing batteries, solar cells, and capacitors, which are in high demand across several types of machinery and equipment. Moreover, it is used to enhance the characteristics of composite materials, which are primarily used across the automotive industry to produce lightweight vehicle parts owing to its excellent properties including high tensile strength, conductivity, and elasticity.
 

Ongoing research & development activities are providing a positive outlook for industry expansion over the study period. Industry players are focusing on improving technologies, harnessing graphene for commercial applications, and increasing their business shares. Additionally, graphene is expected to replace several traditionally used materials in the long run, which will significantly improve product operation & efficiency. Scientists from around the globe are studying various properties and altering the core functionalities of the material for improving its functionality. For instance, in 2019, a team of scientists from India and the U.S. published a research report that focuses on reversible defect engineering capabilities in graphene grain boundaries. It paved the way for diversified graphene applications by intentionally altering the defects during its production.
 

The automotive segment is set to hold a significant market share

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The automotive segment will hold over 15% share in graphene market by 2030. The automotive industry is focusing on manufacturing vehicles that are lighter in weight and yet to meet the mandatory safety standards. Automotive manufacturers are expected to increase the use of composites on a large scale to produce superior-quality lightweight vehicles. Graphene is being used to manufacture smart adhesives, nanocomposites for integrated sensors, and other automotive components that are likely to be commercialized in the near future.
 

Increasing adoption of the material in high composites is set to foster the industry growth across North America

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North America graphene market is poised to surpass USD 390 million by 2030. It is likely to stay at the forefront of the graphene industry owing to its strong adoption in high composites that are extensively used across automotive and aerospace & defense industries to manufacture lightweight cars and aerospace components, respectively without compromising on safety. High investments in the region’s advanced electronics field due to rapidly evolving customer demands, which can be attributed to the region’s strong spending power, are likely to make a prominent contribution to regional industry expansion during the forecast period.
 

The industry is set to be highly fragmented

The graphene industry competitive landscape is moderately consolidated in nature with multiple players entering the industry. A high amount of funding generated from various regional governments, associations, as well as corporate giants including Samsung, Intel, IBM, Nokia, or Sony for research & development activities to find new & innovative product application sectors has invited numerous market players in the industry. Market players are constantly focusing on product development & innovations to attain a competitive edge in various end-use industries. For instance, in October 2019, Haydale launched a graphene-enhanced prepreg material range for protection against lightning strikes. These materials are developed in collaboration with Airbus, GE Aviation, BAE Systems, and Element Materials Technology Warwick Ltd. This strategy enabled the company to enhance its offerings for the aerospace & defense industry end users.
 

Some of the key manufacturers include Applied Graphene Materials plc, Graphenea, Graphene Frontiers, Haydale Limited, Advanced Graphene Products, Nanjing XFNANO Materials Tech Company Limited, XG Sciences, Inc., AMO GmbH, and Thomas Swan & Co. Ltd.
 

The graphene market report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD thousand from 2018 to 2030 for the following segments

By Product

• Graphene oxide
• Graphene nano platelets
• Mono-layer & bi-layer graphene
• Others

By End User

• Electronics
• Aerospace & defense
• Energy
• Automotive
• Healthcare
• Others

The above information is provided on a regional and country basis for the following:

• North America
  • U.S.
  • Canada
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • GCC Countries
  • South Africa