According to the latest report by IMARC Group “Graphene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global graphene market size reached US$ 100 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,540 Million by 2028, exhibiting a growth rate (CAGR) of 47.8% during 2023-2028.
Graphene is the building component of graphite, which is an efficient conductor of heat. It is produced by various methods, such as plasma-enhanced chemical vapor deposition (PE-CVD), chemical vapor deposition (CVD), and liquid phase exfoliation. It is widely utilized in the electronic industry for enhancing film cooling technology in smartphones and improving touch screen quality. It is also employed to improve the functionality of batteries by increasing the electrode density and accelerating the chemical reaction.
Additionally, it finds extensive application in the automotive industry to produce lightweight car parts, efficient sensors in self-driving cars, durable coatings, and effective lithium batteries for electric vehicles (EVs). Graphene assists in manufacturing biological agents and biosensors and enhancing drug delivery, biological imaging, and gene and cancer therapy. It also aids in forming anti-corrosion coatings and weather-proof packaging as it is chemically inert and impermeable to many gases. Asa result, it is widely used in the manufacturing of various sports equipment, such as padding, footwear, tennis rackets, ski boards, and golf sticks across the globe.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The escalating demand for graphene in the electronics industry due to the rising sales of tablets and smartphones around the world represents one of the key factors driving the market. Apart from this, there is a rise in the demand for graphene to produce highly durable aircraft with low electrical conductivity and density. This, along with the growing utilization of graphene in the production of paints to reduce radar footprints, is offering a favorable market outlook. In addition, the increasing utilization of electric cars to reduce fossil fuel consumption worldwide is propelling the growth of the market.Besides this, the rising employment of graphene in the production of highly selective and permeable separation membranes for efficient waste-water management is strengthening the growth of the market.
Additionally, the growing demand for graphene to manufacture solar panels due to the rising environmental awareness among the masses is positively influencing the market. Moreover, the increasing employmentof graphene in the agricultural industry to manufacture sensors for monitoring vital crops and harmful gases is impelling the growth of the market.In line with this, the rising application of graphene to improve the lifespan of lithium-ion batteries is contributing to the market growth. Furthermore, key market players are investing in research and development (R&D) activities to introduce cost-effective manufacturing technology for graphene, which is expected to bolster the growth of the market.
Breakup by Type:
- Mono-layer & Bi-layer Graphene
- Few Layer Graphene (FLG)
- Graphene Oxide (GO)
- Graphene Nano Platelets (GNP)
Breakup by Application:
- Transparent Electrodes
- Integrated Circuits
Breakup by End-Use Industry:
- Electronics and Telecommunication
- Bio-medical and Healthcare
- Aerospace and Defense
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- ACS Material, LLC
- Global Graphene Group, Inc.
- CVD Equipment Corporation
- Grafoid Inc.
- G6 Materials Corp. (Graphene 3D Lab Inc.)
- Graphene Nanochem plc
- Graphenea Inc.
- Haydale Graphene Industries plc
- Vorbeck Materials Corp.
- XG Sciences Inc.
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