The global graphene market was valued at US$2.308 billion in 2019 and is expected to grow at a CAGR of 38.02% over the forecast period to reach US$15.953 billion in 2025. Graphene is the world’s strongest and thinnest material with high thermal and electrical conductivity. Increasing demand for flexible, lightweight and renewable materials with a long life span is the primary factor driving the growth of the global graphene market size. Graphene is used for composites & coating materials, nanoplatelets, structural components of aircraft, nanotechnology in electronic industry, efficient and stronger weapons in the defense sector. The material is also utilized for making batteries, conductors and generators to enhance energy efficiency and overall performance of devices. Graphene can be combined with metals, polymers as ceramics, to improve the conductivity and the thermal and pressure resistance of the composites. Graphene is still in the early phase of development and has not reached full potential in most of its application areas. There have been continuous efforts for research and development to enhance the quality of graphene.
Market Drivers
The graphene market is witnessing an increase in new products owing to the rising demands from developing economies such as China, India, and Thailand. China is focusing on increasing the production of graphene and investing a huge amount of capital for research and development of graphene nanoplatelets. Graphenea, a Spanish company is engaged in developing and supplying graphene oxide to various research groups and large multinationals for their product development. Graphene oxide is growing due to its wide application scope in biomedical, solar cells, composites, batteries, supercapacitors, and biosensors among others.
Segmentation
The graphene market has been segmented by product and end-user industry. Segmentation by product includes graphene oxide, graphene flakes, graphene sheets and graphene inks. By end-user industry, the market has been segmented into consumer electronics, energy and power, aerospace & defense, and others. Graphene is a strong material that can be used for enhancing the strength of other materials. Graphene enhanced composite materials can be used in aerospace, building materials, mobile devices, and in many other applications. Graphene is good conductive material to heat and this advantage of graphene can be used for making LED, thermal foils for mobile devices, and thermal films. Graphene properties like being thinnest material are driving the market for batteries and supercapacitors that can store more energy and help in charging products even faster. Demand for the graphene market is growing due to various applications of graphene-like anti-corrosion coatings and paints, efficient and precious sensors, faster and efficient electronics and many others.
By Geography
Regionally the global automotive sensors market is classified into North America, South America, Europe, Middle East, and Africa, and the Asia Pacific The report also analyses 15 countries across these regions with complete analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers. North America is expected to be the growing market for graphene products due to the major utilization of graphene for the research and development activities across various universities and institutes. Asia Pacific region is expected to see the fastest growth in the graphene market due to increasing applications in consumer electronics and aerospace industry here.
Major players in the global graphene market have been covered along with their relative competitive position and strategies. The report also states recent deals and investments of different market players over the last year. The report consists of key products and services being offered along with the recent developments of these important players in the graphene market.
The global graphene market has been segmented as below:
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