In terms of revenue, the Global Graphene Market is expected to reach 2525.7 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 19.5% from 2022 to 2028. The graphene has a resistance to fire and effective conductor having extreme versatility and is stronger than steel and a substance of ultra-lightness. Additionally, graphene is known in the chemical industry as an effective catalyst due to its properties like the high surface area as well as adsorption power. The increasing demand for chemicals all over the globe is expected to drive the Graphene Market.
- Under application, segment composites is expected to grow at a considerable CAGR in the coming years. The growth in the segment is due to its power and weight enhancement ability. Composites are used in a range of fields including manufacturing and aerospace. The manufacturers are developing strongly as well as lightweight materials with higher electrical conductivity and heat resistance.
- The graphene oxide sub-segment is anticipated to have a significant market share in 2021. Graphene oxide is a critical product, that has transparent conductive films for supercapacitors, optoelectronic and medical devices. The quality product features such as electrical conductivity, high thermal, and permeability, flexibility is factored in fuelling the market demand.
- Asia Pacific is the largest regional segment. The increasing demand from the aerospace sector as well as the electronics sector in countries like Mexico, Canada is driving regional growth.
Some of the key players 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 (AGM)
Factors such as increasing purchasing power and rise in consumer electronics demand for tablets & mobile phones are boosting the market growth. Additionally, the graphene oxide-based transparent conductive films are used in a form of raw material in the automotive industry to make them safer & lighter. The continuous R&D activities globally, with large-scale graphene production through renewable sources, are factors to give various opportunities for growing the market. On the contrary, the risk involved in the production process of graphene and the toxic nature of graphene are factors anticipated to hamper the global Graphene Market growth.
The Asia Pacific is expected to emerge as a potential market for Graphene Market. The growth is defined by its excellent electrical as well as thermal conductivities. Graphene is used primarily in the electronic & automotive industries and both industries are developing rapidly in this region. The growth in end-use industries is expected to fuel the demand in graphene market.