Id: CBI_ 1486 | Pages: 349 | Format : PDF | Published : | Author : Amit Sati
Graphene Market size is estimated to reach over USD 4,461.86 Million by 2031 from a value of USD 350.26 Million in 2023 and is projected to grow by USD 475.18 Million in 2024, growing at a CAGR of 37.4% from 2024 to 2031.
Graphene is an allotrope of carbons that has a single layer of carbon atoms. The structural pattern is arranged in a two-dimensional honeycomb lattice and has unique properties, such as superior strength, transparency, and flexibility. It also acts as an exceptional thermal and electrical conductor. It has various properties such as exceptional electrical conductivity making it have high density and longer life span. They come in the form of powder and are approximately the size of a sand particle or grain. One of the key benefits is its ability to connect with cells. This makes it favorable for biosensors as well as tissue engineering. Its usage spans various industries aerospace, electronics, automotive, medical, etc.
Graphene enhances the performance of devices such as sensors or transistors due to its high electrical conductivity. It also has very trivial resistance, and produces less heat, unlike silicon. This ensures speed in transistors and semiconductors. It is flexible which makes it a perfect component in the electronic sector for the development of innovative new technologies.
Thus, revolutionary advancements are important in developing efficient and portable electronic devices, driving the market.
Graphene is known to be stronger than steel even though it is thin and lightweight, making it a suitable component in material composites. Industries like aerospace or automotive could employ graphene-based materials to increase fuel efficiency without compromising on strength due to its exceptional properties. Graphene composites enhance tensile strength as well as durability which results in more resilient materials. Growth in research and development has incorporated new techniques of utilizing graphene, which surges its usage across various industries.
Therefore, the graphene market growth is often fueled by improvements achieved in composite materials built from different types of this allotrope.
The process of its production follows various steps such as CVD (chemical vapor deposition), chemical reduction, etc, and needs to be done precisely. Most times, scaling issues curb the large-scale production of graphene as rapid batches would compromise quality. Additionally, the assimilation of it with extant technologies is complex and necessitates a full redesign of semiconductors and electronics.
Thus, the graphene market demand faces constraints for its rapid expansion within the commercial products due to expensive production costs and issues with technicality.
Graphene has a large surface area which enables it to interact with various molecules making it ideal for drug delivery. It leads to improved treatment processes and increases in favorable patient outcomes. Graphene-based materials are also employed for medical bio-imaging. Its rare optical properties lead to the development of more accurate imaging methods, making it easy to diagnose then monitor diseases precisely. It also makes effective biosensors that can catch biomarkers even at low concentrations. This makes curating personalized medicines easy.
Thus, as per the analysis, biomedical applications of these materials have promised cell proliferation which leads to more effective healing. This opens up the graphene market opportunities.
The market is segmented based on type into Graphene Oxide, Graphene Nanoplatelets, Mono-layer & Bi-layer Graphene, and others.
Trends in the Type:
Graphene oxide accounted for the largest revenue of 40.54% in the graphene market share in 2023.
Mono-layer & Bi-layer graphene is expected to have the fastest CAGR in the global graphene market during the forecasted period.
The market is segmented based on its application in Electronics, Energy Storage, Composites, Biomedical & Life Sciences, Sensors, and others.
Trends in the Application:
Electronics accounted for the largest revenue in the overall graphene market share in 2023.
Energy Storage is expected to have the fastest CAGR during the forecasted period.
The market is segmented based on the end-use industry into automotive, aerospace, electronics & telecommunications, healthcare, energy, and others.
Trends in the End-Use Industry:
Electronics & Telecommunications accounted for the largest revenue in the market in 2023.
Healthcare is expected to have the fastest CAGR during the forecasted period.
The regions covered are North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
Asia Pacific region was valued at USD 150.92 Million in 2023. Moreover, it is projected to grow by USD 205.00 Million in 2024 and reach over USD 1,951.17 Million by 2031. Out of this, China accounted for the maximum revenue share of 27.3%.
As per the graphene market analysis, the Asia Pacific (APAC) region has a strong manufacturing base, especially in countries like China, India, Japan, South Korea, etc. These nations have a large-scale demand for electronics and electrical devices where it's unique qualities such as high electrical and thermal conductivity are valued. Companies like LG, Samsung, etc have headquarters here where its potential to enhance batteries, and touchscreens, adds to the market demand for graphene-based products.
North America is estimated to reach over USD 1,150.71 Million by 2031 from a value of USD 87.96 Million in 2023 and is projected to grow by USD 119.60 Million in 2024.
In North America, especially in the US and Canada, there is a robust market for graphene-based materials. This is primarily driven by the region's developed technological ecosystems and research institutes which foster discoveries, development, and innovation within the technology. This environment is further supported by governmental policies, funding, rules, regulations, etc. which encourage the commercialization, research, and development of these materials.
The graphene market analysis shows that Europe leans heavily on the values of sustainable lifestyle and green technology. It aligns effectively with the EU's goals due to its rare properties. It enhances supercapacitors, batteries, and energy storage systems which propels the shift to renewable energy sources and electric vehicles (EVs).
The Middle East and Africa have ongoing development in their infrastructure and their focus is on adopting lightweight materials with high-tensile strength and flexibility. Graphene-based materials and composites help in achieving such construction standards. This drives the graphene market expansion.
The regional trends analysis shows that Latin America has an abundance of raw graphite, especially in Brazil, which is essential for production. This direct access to raw materials reduces production costs and gives Latin American companies a competitive edge.
The graphene market is highly competitive with major players providing products & services to the national and international markets. Key players are adopting several strategies in research and development (R&D), product innovation, and end-user launches to hold a strong position in the market. Key players in the graphene industry include:
Product Launches:
Mergers and Acquisitions:
Partnerships and Collaborations:
Product Enhancement:
Report Attributes | Report Details |
Study Timeline | 2018-2031 |
Market Size in 2031 | USD 4,461.86 Million |
CAGR (2024-2031) | 37.4% |
By Type |
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By Application |
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By End-User |
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By Region |
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Key Players |
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North America | U.S. Canada Mexico |
Europe | U.K. Germany France Spain Italy Russia Benelux Rest of Europe |
APAC | China South Korea Japan India Australia ASEAN Rest of Asia-Pacific |
Middle East and Africa | GCC Turkey South Africa Rest of MEA |
LATAM | Brazil Argentina Chile Rest of LATAM |
Report Coverage |
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Graphene Market size is estimated to reach over USD 4,461.86 Million by 2031 from a value of USD 350.26 Million in 2023 and is projected to grow by USD 475.18 Million in 2024, growing at a CAGR of 37.4% from 2024 to 2031.
The graphene market is segmented into type, application, and end-user industry.
Asia Pacific is the fastest-growing region in the graphene market.