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Global Graphene Market Segmentation By Material ( Graphene Nanoplatelets, Graphene Oxide, Reduced Graphene Oxide), Composites is expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 40% from 2023 to 2033.
Newly-released Graphene Market analysis report by Persistence Market Research shows that global sales of Graphene in 2022 were held at US$ 125.7 Million. With a CAGR of 43% from 2023 to 2033, the market is expected to reach a valuation of US$ 3.7 Billion by 2033. Composites is expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 40% from 2023 to 2033.
Global Graphene Market (2022)
US$ 125.7 Million
Global Graphene Market (2033)
US$ 3.7 Billion
Global Graphene Market CAGR (2023 to 2033)
U.S. Graphene Market CAGR (2023 to 2033)
Key Companies Profiled
As per the Graphene Market research by Persistence Market Research - a market research and competitive intelligence provider, historically, from 2018 to 2022, the market value of the Graphene Market increased at around 38.5% CAGR.
Rapid revenue growth in Graphene Market is due to its increasing application in electronic devices for energy storage over the forecast period. Integrating graphene into cells might vastly improve their performance. The cell phone’s energy density can be increased significantly, allowing it to last days without recharging. Furthermore, graphene-based memory circuits have the potential to improve smartphone storage capacity while lowering power consumption and speeding up memory access.
Durability, elasticity, lightness, and conductivity are just a few of the remarkable qualities of graphene. One of the simplest methods to exploit graphene's potential is to combine it with composite materials. Graphene composite is projected to be employed in the automotive and aerospace sectors due to excellent product attributes such as high strength and lightweight. The graphene market is predicted to rise due to its wide variety of applications in many sectors.
Graphene market size is also driven by features such as fireproofing, longevity, non-toxicity, heat resistance, and compressive strength. The advanced materials industry has seen a surge in graphene usage due to increased demand for rust-free coatings, printed electronics, and conductive inks.
Graphene and its composites have medicinal uses including gene and tiny molecule medicine delivery. It also finds its application in protein biofunctionalization, anticancer treatment, and bone and tooth implantation as an antibacterial agent. The biocompatibility of newly synthesized nanomaterials permits them to be used extensively in biology and medicine.
Electronics, medicinal innovations, power storage, ceramics and sealants, and sewage treatment are likely to boost the market growth. Graphene's ability to enhance charge rates and energy capacity can help modern lithium batteries. Graphene also helps lithium-ion batteries last longer while also reducing the total weight of the battery system. As a result, the growing use of graphene in the electric vehicle industry is projected to boost the market growth.
Growing buying power, expanding consumer electronics demand, such as smartphones or tablets, and rising product acceptance in numerous applications, including energy storage, semiconductors, and detectors, are driving graphene market expansion.
The poisonous nature of graphene, as well as the danger associated with the graphene production process, can limit market expansion. Besides, graphene must be handled with caution and precision due to its flammability. Other obstacles that limit the growth of the graphene market include regulatory compliance with combustible items.
In 2022, Asia Pacific held the largest share of the global Graphene Market accounting for around 35% of the global revenue due to the increased demand for products in industries including automotive, marine, military, and aerospace. The region's developing industrial sector is expected to propel market expansion in Asia Pacific. Another influential factor of the regional industry is China's growing industrial sector. Rising product demand from this industry would eventually result in a faster market growth rate.
In countries like India, Japan, and China, small and medium-sized businesses have a large distribution and supplier network, which plays a significant role in the value chain since distributors and suppliers are responsible for maintaining a loyal client base.
U.S. Graphene Market Analysis
The United States is expected to have the highest market share of US$ 738 Million by the end of 2033. The United States is a prominent exporter of graphene-based products to countries that do not have access to graphene production. The increased popularity of graphene, owing to its superior features, is likely to fuel market growth throughout the projected timeframe. Due to the existence of a number of manufacturers in the nation, the airplane parts manufacturing sector is expected to grow in the United States.
The need for graphene-based composites is expected to rise in response to rising demand for low-density, electrical viscosity, longevity, and high-strength materials used in aircraft bodies. Supercapacitors are a type of capacitor that has a greater energy efficiency than batteries. They can also work in sub-zero conditions.
China Graphene Market Analysis
China is the biggest market for the aerospace and defense industries and sports equipment and generates about three-quarters of global equipment sales. The automotive industry has experienced exponential growth in China and is expected to grow at a suitable rate for the foreseeable future. That bodes well for manufacturers of graphene composites.
Why Graphene Nanoplatelets is projected to Witness Significant Growth?
The Graphene Nanoplatelets segment is forecasted to grow at a significant CAGR of over 38% during 2023-2033. The ultralight, mechanical characteristics, and improved thermal and electrical conductivities of graphene nanoplatelets, as well as the low cost and simple production technique, are projected to boost the segment's growth.
Graphene nanoplatelets increase the material's mechanical and tribological capabilities while also boosting its barrier qualities and thermal conductivity. Graphene nanoplatelets are incorporated into polymer matrices to improve mechanical properties, chemical resistance, and longevity. As a result, market proliferation is expected to be fuelled by rising demand for graphene nanoplatelets.
Which Application of Graphene is expected to Score Significant Growth in the Coming Years?
Composites commanded significant revenue as well as a CAGR of nearly 40%, during the forecast period. Excellent mechanical capabilities, electromagnetic, refractive, and dimensional stability, as well as extreme heat, impact, and flame resistance, are all attributes of graphene composites. The addition of graphene to rubber, for example, improves its conductivity, impermeability, and strength. Engineering materials for aircraft, renewable energy, and other industries are among the most common users of graphene composites.
Several composite producers, on the other hand, have concentrated their efforts on new product development. These innovations, together with end-use industries returning to full capacity, will drive composites demand throughout the projected period. Toray Industries, for example, has developed high-tensile-modulus carbon fiber and thermoplastic pellets that allow for the efficient manufacture of complicated stiff and lightweight parts in a variety of composite end-use industries.
The prominent players operating in the graphene market include Angstron Materials, Inc., ACS Material, LLC, BGT Materials Ltd., CVD Equipment Corp., Directa Plus SpA, Grafoid Inc., Graphenea, Graphene NanoChem, NanoXplore, Inc., G6 Materials Corp., XGSciences, Thomas Swan & Co. Ltd., 2D Carbon Graphene Material Co., Ltd., Haydale Graphene Industries Plc, and Applied Graphene Materials.
Some of the recent developments of key Graphene providers are as follows:
BSG bought Thomas Swan's graphene patent and technological know-how for US$ 3.76 million in cash, one-third of BSG's stock, and an irrevocable license allowing Thomas Swan to create and sell smaller amounts of graphene up to 1000T per year.
Similarly, recent developments related to companies in Graphene Market have been tracked by the team at Persistence Market Research, which is available in the full report.
The global market is worth more than US$ 125.7 Million at present.
The market value is projected to increase at a CAGR of around 43% from 2023 to 2033.
The market value increased at a CAGR of around 40% from 2018 to 2022.
Increased dominance of the electronics and telecommunications industries, as well as the introduction of medical gadgets in the healthcare sector, are likely to drive the Graphene Market.
The market in China is projected to expand at a CAGR of around 45% from 2023 to 2033.
The market in Japan is projected to register a CAGR of nearly 17% from 2023 to 2033.