Graphene Market Size

Graphene Market Size

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.