Graphene Market Worth $7.55Bn, Globally, by 2028 at 37.3% CAGR - Exclusive Report by The Insight Partners

NEW YORK, April 1, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Graphene Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Monolayer and Bilayer, Graphene Nano-Platelets, Graphene Oxide, and Others) and Application (Composites; Functional Inks, Paints and Coatings; Energy Storage; Electronics; Polymer Additives; RFID; and Others)", the global graphene market size is projected to grow from US$ 821.2 million in 2021 to US$ 7,555.8 million by 2028; it is expected to register a CAGR of 37.3% from 2021 to 2028.

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Graphene Market: Competition Landscape

The key players operating in the global Graphene market include XG Sciences; The Sixth Element Materials Technology Co., Ltd; Global Graphene Group; NanoXplore Inc.; Graphenea, Inc.; Directa Plus S.p.A; AVANZARE INNOVACION TECNOLOGICA S.L.; Thomas Swan & Co. Ltd.; Morsh; and Perpetuus Advanced Materials PLC.

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In 2020, Asia Pacific held the largest share of the global graphene market. China is the leading producer of graphene globally. In China, the graphene production industry is one of the fastest-growing industries. Growing industrialization in this region and rising investments by governments to advance the electronics & energy storage sector are fueling the market growth. The region is known as the manufacturing hub of many industries such as automotive, electronics, aerospace, paints & coatings, and construction, with manufacturing facilities located in Australia, Japan, India, China, South Korea, Singapore, Taiwan, and Indonesia. The growing demand for graphene compounds from various end-use industries has contributed to the growth of the graphene market in the region.

Rising Demand for Graphene Composites in End-Use Industries:

Graphene composites are produced by two or more materials with different properties to produce an end material. The purpose of graphene in composite production is to create composites with excellent qualities and enhance the conductivity and strength of bulk materials. Graphene composites find their application in the medical industry for medical implants, engineering materials for aerospace, building & construction, and renewables.

Graphene is used as an additive in composites to enhance mechanical properties, including electrical and thermal conductivity, durability, flexibility, stiffness, weight reduction, and fire resistance. Graphene can also reduce interlaminar shear failure and eliminate microcracking issues within the composite laminate. Thus, the rising demand for graphene composites in end-use industries is driving the market.

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Graphene Market: Segmental Overview

Based on type, the market is segmented into monolayer and bilayer, graphene nano-platelets, graphene oxide, and others. In 2020, the monolayer and bilayer segment held the largest market share. Monolayer and bilayer graphene is known for its electrical, physical, and optical properties, due to which it is used to construct field-effect transistors or tunneling field-effect transistors, exploiting the small energy gap. Graphene is used in nanotechnology, especially in the sensor area. The increasing consumption of monolayer and bilayer graphene will continue to boost its demand during the forecast period.

In terms of application, the market is segmented into composites; functional inks, paints and coatings; energy storage; electronics; polymer additives; RFID; and others. In 2020, the electronics segment held the largest market share due to the diverse application of graphene in the electronic industry across the globe. Graphene has continued to be used as a coating in touch screens for tablets and phones. The electronics products such as chips and interconnects for data communication and flexible screen for wearable technology requires graphene as a raw material for processing. Thus, technological advancements in the electronics industry have increased the consumption of graphene.

Impact of COVID-19 Pandemic on Graphene Market:

The measures to contain the COVID-19 pandemic drastically hampered the chemicals & materials industry and adversely affected the growth of the graphene market. Governments of various countries have closed their international ports, further causing disruptions in the graphene supply chain, thus, negatively impacting the operational efficiencies of electronics and automotive industries.

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The pandemic has negatively impacted the availability of graphene in several countries. Graphite is the major material required for graphene. Many countries that depend on importing these materials to prepare graphene faced substantial challenges procuring the material. This resulted in a partial or complete shutdown of the graphene production sites. However, with the introduction of vaccination there is ease in the restrictions and manufacturing activities has also restarted for economic recovery. Rise in need for graphene and significant investments by prominent manufacturers to increase production capacity are expected to drive the graphene market during the forecast period. 

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