DELRAY BEACH, Fla., Dec. 9, 2024 /PRNewswire/ -- The report "Graphene Market by Type (Bulk Graphene and Monolayer Graphene), Source, Application, End-use Industry (Automotive & Transportation, Aerospace & Defense, Electronics, and Construction) and Region - Global Forecast to 2029", size is expected to reach USD 2.94 billion in 2029 from USD 1.00 billion in 2024, at a CAGR of 24.0% from 2024 to 2029.
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358 - Tables
57 - Figures
295 - Pages
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The diverse attributes, coupled with the increasing number of applications, can be pointed out as the main drivers of the demand for Graphene across industries. In particular, Graphene is gaining popularity in automotive and aerospace industries, where its low weight, high strength and good conductivity are appreciated.
Owing to its high thermal and electrical conductivity, the graphene market is mainly dominated by the electronics industry. Such applications range from batteries, through conductive inks, to advanced display technologies. The growing need for lightweight yet high-capacity batteries for electric vehicles also expands such demand.
Graphene composites are gradually being used in construction, coatings or manufacturing with a fraction of more strength and robustness to overcome the conventional materials. This segment is anticipated to post the maximum growth because there is an ongoing competition among the manufacturers to look for alternate materials to carbon nanotubes and graphene seems to solve the problem.
Bulk Graphene segment is expected to grow with highest CAGR in the Graphene Market during the forecasted period.
The Graphene Market is segmented based on type into Bulk Graphene and Monolayer Graphene. The increasing popularity of bulk graphene on the market may be attributed to a number of interconnected reasons, mostly due to its properties and the expanding areas of its usage within different sectors.
Bulk graphene can find many applications due to its unique properties such as a high strength to weight ratio that allows it to be used in lightweight applications that contain high strength materials. This is significant in sectors such as aerospace and automotive where such features can help in the optimization of fuel efficiency and performance.
Bulk graphene has excellent electrical and thermal conductivity; therefore, it can be used in batteries, sensors, conductive coatings and a variety of other electronic applications.
It is also gaining traction as a filler material in composite systems. It may improve mechanical properties like tensile strength and impact resistance, while enabling the use of lighter formulations. This is provoking its use in several industries that make use of high-tech composite materials such as construction, automotive and aerospace industries.
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Graphite is expected to have the largest share during the forecast period in terms of value.
The Graphene Market is segmented based on source into Graphite, Graphite Oxide, Reduced Graphite Oxide, and Other Sources. Other Sources include coal, petroleum coke, and biomethane. Graphite is regarded as the most widely used source for graphene production for a number of reasons, like easy availability, cost-effectiveness, and efficiency of established methods of production. Graphite is one of the most abundant forms of carbon occurring naturally, therefore guaranteeing a stable supply for large-scale production of graphene, a need as the demand increases in various industries. The processes to convert graphite into graphene, including chemical exfoliation, are relatively low in cost compared to other raw materials.
Composite application is expected to dominate the application segment during the forecast period in terms of value.
Based on application, the graphene market is segmented into composite, energy harvesting & storage, paints, coatings & inks, electronics, and other applications. Other applications include membrane, biomedical, chemical catalyst, and tires. Composite application is expected to dominate the application segment in the graphene market. Graphene is known for its strength-to-weight ratio, making it great for use as a reinforcing additive in composite materials. This virtue is important in the aircraft and automotive industries, where the goal is to reduce weight by maintaining strength, which would allow for improved fuel efficiency and performance. Graphene-based composites have different applications in construction, sports equipment, automotive parts, and aerospace components. For example, coatings doped with graphene can coat ships and automobiles to provide an anti-corrosion agent. More importantly, impregnation of concrete with graphene enhances strength and durability. Given the increasing interest in industry toward sustainability, it is possible that this potential enables graphene to be an excellent choice to be added to materials for improved durability and longevity. It could help minimize the replacements and maintenance needed and thus may result in less environmental impact overall.
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Electronics end-use industry is expected to be the fastest growing end-use industry in the graphene market.
Based on end-use industry, the graphene market is segmented into automotive & transportation, aerospace & defense, electronics, construction, and other end-use industries. Other end-use industries include healthcare, sporting goods, marine, and water treatment. In the forecast period, electronics is expected to be the fastest growing end-use industry. Graphene exhibits exceptional electrical conductivity, so it is extensively used for various electronics applications, like batteries, capacitors, and conductive inks. Graphene is at the forefront of the development of the next generation of electronic technologies, especially high-speed transistors and transparent conducting electrodes. Advancing applications of semiconductors and optoelectronics also make it suitable for handling high voltages and provides excellent thermal management.
Investments from private companies and research institutes has accelerated the pace with which graphene-based technologies are being developed. Research mainly allows for innovative applications of and better production techniques for graphene, which is becoming more accessible for use in everyday electronics.
Asia Pacific region is expected to registered highest CAGR both in terms of value and volume during forecasted period
The Graphene Market has been studied in North America, Europe, Asia Pacific, South America and Middle East and Africa.
The Asia Pacific Graphene Market is experiencing explosive growth, due to strong demand of graphene and graphene-based materials in various end-use industries. Advancements in technologies, rapid urbanization, growing investments, and government initiatives is driving the demand for graphene in electronics, aerospace & defense, and automotive & transportation end-use industries in this region. Countries like China, Japan, and India are witnessing significant growth in these industries. Governments in the region, especially China, are implementing policies that encourage investment in advanced materials like graphene. These policies include research funding as well as incentives for companies that use graphene-based materials in end-use industries.
Key players
Prominent companies include Graphenea S.A (Spain), First Graphene (Australia), NanoXplore Inc. (Canada), Avanzare Innovacion Technologica S.L. (Spain), Global Graphene Group (US), Directa Plus S.P.A (Italy), Haydale Graphene Industries Plc (UK), ACS Material (US), The Sixth Element (Changzhou) Materials Technology Co. Ltd. (China), Xiamen Knano Graphene Technology Co., Ltd. (China), and Universal Matter, Inc. (Canada) among others.
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