Globally, the graphene industry projects at a CAGR of 39.45% during the market forecast period of 2020-2027. Graphene market value holds a USD of 942.4 million during the forecast period.
Top Boosters and Restraints
Heightened demand for lightweight, flexible and renewable materials that are highly durable has led to a stronger demand for graphene across various industries. Excellent properties, such as high thermal and electrical conductivity, along with high permeability and electron mobility also boost the appeal as well as the application scope of graphene. Therefore, the mounting penetration of graphene in diverse applications such as semiconductors, sensors and energy storage can be favorable for the global market in the years ahead.
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Rising uptake of renewable energy across sectors worldwide also adds to the market value. Moreover, strict regulations imposed by government bodies to bring down the high levels of carbon emissions could foster the product utilization in energy storage applications. Graphene’s increasing applications in aerospace, chemicals, automotive, energy, pharmaceutical, electronics, coatings, and others can be touted as a key growth booster in the market.
Some of the highly reputed firms in the worldwide market are BGT Materials Limited, Ltd (UK), Graphene NanoChem (UK), Angstron Materials Inc (US), Grafoid Inc (North America), Graphenea Inc. (US), CVD Equipment Corporation (US), Graphene Laboratories, Inc. (US), Haydale Limited (UK), XG Sciences, Inc. (US), Vorbeck Materials (US), to mention a few.
The global Graphene Market is partially consolidated, among the top few players. With continuous and active research and the development of graphene for newer and emerging applications, a lot of new players are venturing into the market, leading to a fragmented market among the small, but active players. The key participants emphasize on RD investments and product innovations to gain a competitive edge. For instance, in January 2021, Appear Inc. launched the lightest and the first graphene battery-powered smartphone in the world. The phone has advanced water-resistant technology and the graphene in it is lightweight and acts as a highly conductive material. The graphene in the smartphone works as a super capacitor for the company’s innovative Fast Charge Technology.
The graphene industry can be segregated on the basis of type as well as end users.
The prime types of graphene available in the global market are graphene nanoplatelets (GNP), graphene oxide (GO), mono-layer bi-layer graphene, few layer graphene (FLG), and others (pristine grapheme, 3D graphene foams). Graphene nanoplatelets can note substantial increase in demand owing to their extensive application range across a number of sectors such as aerospace, electronics, energy storage and generation and medical.
With respect to end use industry, the market caters to chemical, automotive, energy, pharmaceutical, electronics, coatings, aerospace, and others (catalysts, composite, adhesives, filtration). Electronics application is in the lead and should witness strong growth even in the coming years, as graphene as wide use in transistors, semiconductors, sensors and capacitors. The thriving electronic sector in emerging countries in Asia due to the surge in manufacturing activities will further ensure segmental growth.
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The regional segmentation of the market comprises Latin America, APAC/Asia Pacific, North America, MEA/Middle East Africa and Europe.
North America is currently the global leader and holds the biggest market for grapheme. Strong demand across end user industries such as aerospace and electronics in Mexico, US and Canada, largely benefits the regional market. The regional market is led by numerous small and medium manufacturers that boast of robust supplier and distribution networks, which has given rise to a vast customer base.
The second biggest share in the global market belongs to APAC, with China, India, South Korea and Japan in the lead, thanks to the mounting demand across sectors including defense, automobile, aerospace and marine. manufacturers are focusing on RD activities in collaborations with various research institutes and universities for the development of graphene products. APAC has the highest number of manufacturers of automotive vehicles, electric batteries, and electronics components; these are the major applications where graphene is used.
Europe is in the third place, as a result of the rapidly expanding end-end industries in Italy, France and Germany. Surging investments in research and development activities and the well-developed inks and coatings sectors in the region also benefit the graphene market. Growing manufacturing industries, and continuous collaborations and agreements between manufacturers, distributers, and marketing firms
Latin America along with Middle East is a strong contender owing to the increasing applications of graphene in industries such as aerospace, automotive, energy, pharmaceutical, chemicals, electronics, coatings, and more.
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