Graphene Market size to exceed $400 million by 2026
Published Date: November 22, 2019 Authors: Kiran Pulidindi, Soumalya Chakraborty
According to a new research report by Global Market Insights, Inc., the graphene market will likely exceed USD 400 million by 2026
Expanding automotive industry will have a significant contribution
The automobile production reached over 95 million units in 2018 and is likely to show a healthy growth in the years to come. Growing demand for energy-efficient and lightweight automobiles will surge the consumption of graphene in fiber reinforced laminate manufacturing which is used as a favorable substitute for traditional automotive component material. Graphene market is at an infant stage and gradually gaining attention in the global automotive sector.
The conventional anti-corrosion coatings used in automotive sector are substituted by electrically conductive adhesives incorporated with graphene. Various advanced materials are currently tested for safety and light weighting properties and the materials need to comply with the industrial and safety standards. Graphene performs exceptionally better on account of its superior strength, durability, and toughness to manufacture lighter and eco-friendly cars. For example, scientists in the University of Sunderland discovered that if a car bumper is made of graphene based composite material, it can absorb 40% more energy than the standard material which could lead to the production of significantly lighter cars.
Graphene is added in small amount in polymers which substantially modifies the properties of composites, such as elastic modulus, gas barrier capacity, flame retardancy, tensile strength, elastic modulus, and thermal stability. In 2018, increasing exploitation of its properties has led to product implementation in the manufacturing of graphene parts in vehicles such as Mustang and F-150. However, most used technique for graphene synthesis is CVD (chemical vapor deposition) which produces graphene monolayers directly onto nickel or copper substrates. This process is highly complex and has adverse impacts on human health and environment. Also, high raw material cost will restrain the graphene market growth in near future.
Browse key industry insights spread across 162 pages with 92 market data tables & 27 figures & charts from the report, “Graphene Market Share, By Product (Graphene Oxide, Graphene Nanoplatelets, Mono-layer & Bi-layer Graphene, Others), By Industry (Electronics, Aerospace & Defense, Energy, Automotive, Healthcare, Others), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
In 2026, graphene nanoplatelets category will generate revenue more than USD 135 million witnessing growth with a CAGR more than 35%. These nanoplatelets offer excellent thermal and electrical conductivity coupled with high stiffness. This makes it an ideal material in broad range of industries comprising aerospace & defense, electronics, energy, transportation, etc. It acts as a favorable substitute to carbon fiber, carbon nanotubes, and nano-clays in various composite applications.
Aerospace & defense industry category will hold around 15% share in the global graphene market in 2026 owing to rising adoption of lightweight composite materials in the aircraft components manufacturing. Graphene is generally combined with the polymer in the composite matrix which further enhances the thermal conductivity, design flexibility, and corrosion resistance.
Europe will play a significant role over the coming years
European graphene industry accounted for around a fifth of the overall market share in 2018 on account of significant R&D investment to explore the applications of the product in numerous industries. For instance, the European Union had recently invested USD 1.1 billion in “The Graphene Flagship” which is a conglomerate of commercial and academic researches. Further development in the matured regional industries such as automotive, aerospace & defense, healthcare, etc. will also positively influence the growth of regional graphene market size in near future.
Manufacturers are focusing on new product development to gain competitive edge
In October 2015, Thomas Swan & Co introduced Elicarb electrical and material grade graphene powder for conductive inks and composites & plastics respectively. It has strengthened the product portfolio of the company. Some product manufacturers in Graphene market are Graphenea S.A., XG Sciences, Graphene Frontiers, Applied Graphene Materials PLC, Grafoid, Inc., ACS Materials, Haydale Limited, Angstron Materials, and Applied Nanotech. Focused research and development activities, new product development, capacity expansions, and joint venture are some of the major strategies implemented by the major industry players to maintain substantial market position.
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