IMARC Group, a leading market research company, has released a report titled “Graphene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. According to the report, 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, an allotrope of carbon, is a remarkable material characterized by its single-atom thickness and honeycomb lattice structure. It possesses exceptional properties such as high thermal and electrical conductivity, excellent mechanical strength, permeability, and electron mobility. It is an ultra-light substance that is highly versatile and 200 times stronger than steel. It is one of the thinnest materials offering exceptional attributes, including high thermal conductivity and mechanical strength. In addition, it exhibits impermeability to most gases and liquids while displaying uniform light absorption capabilities. Some commonly available types of graphene include sheets, films, nanoribbons, nanoplatelets, and graphene oxide. These forms can be combined with gases and metals to fabricate materials with superior properties, which has wide applications in diverse fields. The manufacturing sector utilizes graphene to produce batteries, transistors, computer chips, supercapacitors, water filters, touch panels, coatings, composites, and solar cells. At present, graphene finds extensive applications in various industries, including medical, electronics, energy, defense, and aerospace, across the globe due to its versatility, offering vast possibilities for innovations and technological advancements.
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Graphene Market Trends and Drivers:
The global graphene market is primarily driven by rapid industrialization and the rising demand for lightweight, flexible, and renewable materials. Moreover, the integration of nanotechnology in the electronics sector is positively influencing market growth. Apart from this, the escalating demand for graphene, as it helps improve the physical properties of different polymer materials, including natural and synthetic rubber, thermoplastic and thermoset composites, paints, coatings, and elastomers, has catalyzed the market growth. Additionally, the increasing use of graphene films in the production of protective coatings for flexible electronic devices, batteries, and smartphones is another major growth-inducing factor. Besides this, the surging adoption of graphene in portable electronics, which provides enhanced flexibility, durability, and convenience, has augmented the product demand. Along with this, the escalating demand for composite materials in automotive and aerospace industries due to the rising need for weight reduction is propelling market growth. Furthermore, extensive research and development (R&D) efforts by key players aimed at improving the thermal and electrical conductivity properties of graphene, coupled with its widespread utilization in the manufacturing of lightweight sports equipment, are contributing to the market growth. In addition, the rising use of graphene that serves as a valuable additive in composite materials, offering both lightweight characteristics and exceptional strength has accelerated the product adoption rate. Other factors, including rising demand for lightweight and safe vehicles, increasing adoption of renewable materials across various industries, and escalating demand for chemicals, are also anticipated to drive the market further.
The report has segmented the market into the following categories:
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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