Graphene Market Size and Share, Growth Outlook 2023-2030
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Industry: Chemicals & Materials
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Increased Penetration in Electronics Industry to Drive Graphene Market Growth
Graphene is a powerful material that has been making rounds in the field of science and technology. Hailed by many as a super material, it is composed of carbon atom, and a covalent bond that formed a honeycomb pattern. Because graphene is strong, lightweight, and flexible, various industries are exploiting graphene as raw material to revolutionise their products – adding more strength, antiviral properties, and more revolutionary features. Nevertheless, as strong as graphene is, it has a melting point – if stretched to a certain length, it could break. With the amazing properties and characteristics that make up the graphene, it is highly applicable in various fields like energy, coatings, and sensors. Graphene has a wide potential application in super batteries, supercapacitors, and wind and solar panels, which keeps graphene market afloat. Due to its excellent electrical and thermal conductivity. The lifespan of a traditional lithium-ion battery will dramatically increase. With the high resistivity of graphene, the development of durable coatings is realised, making it a high-value product in global graphene market. Graphene is also a key material to use for ultra-sensitive sensors, which further drives graphene market worldwide.
Besides the detection of harmful substances, graphene helps in monitoring vital crops in agriculture. Graphene-powered sensors will help farmers monitor harmful gasses that are causing an impact on crop fields so they can act fast. Additionally, graphene sensors can monitor the atmospheric conditions of areas to know which one is ideal for certain crops to grow. Overall, the future is bright and bold for graphene (the potential that graphene brings to every industry), and it’s making a way to bring a better impact on the world. Rapidly expanding demand for graphene for electrical and electronic applications, as well as the rising novel applications of graphene in the medical sector, are the primary factors driving market expansion. Graphene has the potential to enable the development of next-generation electronics such as transistors, flexible phones, semiconductors, sensors, capacitors, and other devices. It is utilised as a coating on modern touch displays for tablets and phones. The adoption of wearable and flexible electronic devices is quickly rising because of the mechanical and conductivity features of the product, propelling market growth in the electronics industry.
In 2021, the number of connected wearable devices was 929 million which has increased in comparison to 835 million in 2020. With the growing number of wearable devices, the market is predicted to rise in the coming years. The conductivity and thinness features of graphite have prompted research into graphite semiconductors. Graphite Semiconductors could eventually replace present computer chip technology because they can conduct electricity at normal temperature. In May 2019, a team of researchers from Samsung Advanced Institute of Technology developed a transistor to improve semiconductor performance. The research also revealed that graphite chips are faster than existing silicon processors. Growing use of graphene in semiconductors the market is anticipated to grow in the approaching years.
Graphene Nanoplatelets Dominate Market with Several Beneficial Properties
The graphene nanoplatelet material category topped the market with a major revenue share of in the forecast period. The lightweight, mechanical characteristics, and improved thermal and electrical conductivities of graphene nanoplatelets, together with the low cost and simple manufacturing technique, are projected to boost the segment's growth. Graphene nanoplatelets increase mechanical and tribological performance by enhancing the material's barrier characteristics and thermal conductivity. Graphene nanoplatelets are mixed into polymer matrices to improve mechanical properties, chemical resistance, and longevity. As a result, rising demand for graphene nanoplatelets is expected to drive market expansion.
Asia Pacific Will Acquired Major Share due to Rising Graphene-Based Application
Asia Pacific will remain dominant in global graphene market with a major revenue share throughout the forecast period owing to increasing product demand across industries such as automotive, marine, military, and aerospace. The region's thriving industrial sector is expected to propel the expansion of graphene market in Asia Pacific. The region is a confluence of rising markets, and industrialised economies, and the region's growth potential is unprecedented. The expansion of China's industrial sector is another important driver for graphene market in the region. According to China’s Ministry of Industry and Information Technology, lithium-ion battery output will reach 324 GWh in 2021, up 106 percent year on year, and in 2021, China's graphite reserves were estimated to be 73 million metric tonnes. Therefore, with the growing lithium-ion batteries in the country, the market is estimated to propel in the region. Rising product demand from this sector will eventually lead to faster growth of graphene market. The favourable government policies, funding, and academic research are likely to drive up regional product demand.
North America is expected to rise at a rapid pace because of the presence of small and medium-sized manufacturers in the region. These manufacturers have a large distribution and supplier network, which plays a vital part in the value chain because distributors and suppliers are responsible for maintaining a loyal client base for their manufacturers. Strong R&D activities, universities, and research institutes work with manufacturers to produce next-generation graphene for the electronics and aerospace industries, which may boost product demand. The large-scale presence of aircraft manufacturers in the United States is also expected to increase the demand for lightweight composite materials. In the United States, the airline industry is separated into two categories: for-hire carriers and general aviation. According to projections, the general aviation fleet in the United States was 204,980 aircraft in 2020, and the for-hire carrier fleet was 5,882 aircraft. Therefore, with the continual increase in the number of aircraft in the US, the demand for graphene will increase due to its lightweight property.
Global Graphene Market: Competitive Landscape
Companies in the industry are forming alliances, collaborations, and partnerships as well as launching new goods. In July 2021, Mason Graphite Inc. acquired critical assets related to a patented graphene processing technique from Thomas Swan & Co. Limited through its subsidiary Black Swan Graphene Inc. This aspect will improve the manufacturing efficiency of the company. In June 2021, A collaboration between academics from the School of Engineering and a specialist Chinese materials company has begun to create graphene-based materials for use in purification and waste treatment applications. The University of Edinburgh has inked a USD 1.64 million six-year collaborative research agreement with Jiangsu Dingying New Materials Co Ltd.
A few of the players in the graphene market include Acs Material Llc, Bluestone Global Tech, Cvd Equipment Corporation, Graphene Nanochem Plc, Graphenea S.A., G6 Materials, Haydale Limited, Nanotek Instruments, Inc., Vorbeck Materials, and Xg Sciences.
Regional Classification of the Global Graphene Market is Listed Below:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
*Regions and countries are subject to change based on data availability.
Key Elements Included In The Study: Global Graphene Market
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