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Graphene Market size was valued at around $35 million in 2018 and the industry will register over 35% CAGR through 2026. The high production cost of graphene and the environmental impacts associated with it are expected to hinder the global market growth during the assessment period.
Expanding electronics and semiconductor industry across the globe is considered as the prime factor bolstering the global graphene market growth. In addition, it is a superior conductor of heat and electricity and finds application in memory chips as well as screens in mobile phones and laptops. It is generally used in the combined form to further enhance its durability, strength, conductivity, and toughness.
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Increasing purchasing power and surging demand for consumer electronics such as tablets and mobile phones are likely to propel the graphene market share. Moreover, graphene transmits 97 percent of light, which makes it highly transparent along with its exceptional conductive and heat carrying properties creates opportunities in next-gen electronics such as batteries and solar panels.
Additionally, graphene is gradually gaining popularity in the automotive and aerospace & defense industries. It is light in weight and possesses exceptional strength and toughness. Growing demand for lighter and safe vehicles is likely to offer ample opportunities for the product to be used as an additive in composite materials.
Furthermore, proliferating automotive industry with a production estimate of over 95 million units in 2018 and growing concern for safe and fuel-efficient vehicles are expected to boost the graphene market growth in the coming years. Also, growing attempts to strengthen vehicle structures as well as to improve the crashworthiness has created a demand for the product in the manufacturing of greener and lighter cars.
Graphene is typically a single layer material extracted from graphite by various technologies such as chemical vapor deposition (CVD) and mechanical exfoliation, among others. It is a hexagonal lattice consisting of thin layer of tightly packed six carbon atoms. It is regarded as the world’s thinnest and strongest material and exhibits superior thermal and electrical conductivity. Ongoing product innovation and heavy public and private investment to exploit the properties of the product for various applications are expected to increase the graphene market value during the review period.
Report Coverage | Details |
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Base Year: | 2018 |
Market Size in 2018: | 34.97 Million (USD) |
Forecast Period: | 2019 to 2026 |
Forecast Period 2019 to 2026 CAGR: | 36.3% |
2026 Value Projection: | 406.04 Million (USD) |
Historical Data for: | 2016 to 2017 |
No. of Pages: | 162 |
Tables, Charts & Figures: | 119 |
Segments covered: | Product, Industry, Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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Graphene oxide segment witnessed the largest share in 2018 and is likely to grow at the highest CAGR of more than 37% in the coming years. This is largely attributed to its widespread application in polymers as it enhances the properties of conductivity, tensile strength, toughness, and elasticity. It is considered as a suitable electrode material for solar cells, batteries, and capacitors.
Graphene nanoplatelets segment held substantial share in 2018 owing to its superior properties of stiffness and electrical and thermal conductivity, which is majorly used in plethora of industries including transportation, energy, electronics, and aerospace & defense.
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Electronics application segment dominated the global market in 2018 and is likely to grow at a robust CAGR of over 35% through 2026. This is largely attributed to the excellent characteristics of graphene such as high conductivity of heat and electricity, exceptional strength, and toughness which finds application in the manufacturing of memory chips and smartphones.
The aerospace & defense segment accounted for a significant market share of over 14% in 2018. It can be attributed to rising consumption of the product in the composite materials, which are used in the manufacturing of aircraft components. It lowers the weight of the aircraft without disturbing the safety aspects or weight bearing capacity of components.
The automotive sector is likely to garner a healthy CAGR of around 38% during the foreseen period owing to the augmenting demand for graphene in the manufacturing of lighter vehicles in compliance to safety standards.
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North America is projected to stay at the forefront of the graphene industry by 2026 owing to the robust research & development activities in the region. Growing prevalence of research institutes and universities and increasing collaboration with product manufacturers to develop next-gen graphene for aerospace & defense and electronic industries are expected to propel the graphene market.
The U.S. is a major contributor due to the technological advanced facilities and significant presence of its manufacturers in the region including ACS Materials LLC, XG Sciences, and Angstron Materials, Inc.
Following North America, the Asia Pacific is estimated to register a robust CAGR of over 35% during the assessment period. This is mainly due to the presence of abundant graphite sources in China and India coupled with rich copper reserves in China. Also, highly expanding electronics industry as well as rising funds in related research activities in China, Japan, India, and South Korea is likely to positively influence the graphene market trends in consumer electronics.
Capacity expansion is one of the key strategies incorporated by the industry participants to strengthen their position in the market. Graphenea S.A is the leading player in the global graphene industry forecast with presence in more than 60 countries across the globe. It has an astounding manufacturing capacity of circa 150,000 square centimeters of graphene per year.
In July 2017, the company announced the opening of a new graphene oxide unit with production capacity of one ton per annum, which helped the company to meet customers’ rising supply needs in the following years. Some of the major players in the global graphene market report include Graphenea S.A., Applied Graphene Materials plc, ACS Materials LLC, Haydale Limited, Grafoid Inc., Angstron Materials, Inc., Applied Nanotech, Inc, and XG Sciences, among others.
The above information is provided on a regional and country basis for the following: