Graphene Market Growth, Trends, Forecast 2031

The graphene market size is projected to reach US$ 8.58 billion by 2031 from US$ 1.53 billion in 2023. The market is expected to register a CAGR of 24% in 2023–2031.

Graphene is being used in many healthcare developments, such as wound-healing technology and artificial retinal vision. The National Graphene Institute, based at the University of Manchester, and the Catalan Institute of Nanoscience and Nanotechnology (ICN2) are two fundamental organizations working to explore and use the properties of graphene and related materials for usage in healthcare applications across Europe. The researchers are developing implantable devices utilizing graphene and other 2D materials for deep brain stimulation. Their primary focus is to produce neural interface devices. Graphene is used as an alternative material because its 2D structure offers low resistance and stability from passing high currents due to the uninterrupted transportation of electrons through the graphene structures, matrixes, and surfaces.

Graphene Market Analysis

Graphene is a material composed of pure carbon, identical to graphite but with characteristics that make it incredibly light and strong. Its wide range of applications includes aerospace, automotive, coatings, additive manufacture, composites, concrete & cement, conductive ink, electrochemical, electronics, energy generation, energy storage, lubricants, magnets, and medical. Graphene is used to produce lighter and impact-resistant aircraft & helicopter structures. Due to the high electrical conductivity of graphene, it is possible to create deicing systems integrated into the wings. Further, graphene is used to manufacture building materials, such as paints and coatings. Due to its superior electrical and thermal conductivity, graphene can help produce various conductive paints. Moreover, 2D graphene materials with an sp2 carbon atom structure possess exceptional electrical conductivity and can be used in light and electric energy storage and conversion applications. Further, numerous graphene applications in biomedicine are categorized into several major areas, such as transport (delivery) systems, sensors, tissue engineering, and biological agents.

Graphene Market Overview

Graphene is a material consisting of carbon atoms arranged in hexagonal manner. The properties of graphene such as high thermal conductivity, electrical conductivity, elasticity, flexibility, transparency, resistance, and others broadens its scope of application in many industries. Graphene is widely used in electronics, energy storage, paints and coatings, composites and other application. Graphene is also used to enhance the performance efficiency of solar energy by adding it to solar panels. Graphene is a highly useful material without similar substitutes in the market, further leading to the consistent demand for the material over the future.

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Graphene Market: Strategic Insights

Graphene Market

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  CAGR (2023 - 2031)

  24%
• Market Size 2023
  US$ 1.53 Billion
• Market Size 2031
  US$ 8.58 Billion

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• 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

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Type

• Monolayer and Bilayer
• Graphene Nano-platelets
• Graphene Oxide

Application

• Composites; Functional Inks
• Paints & Coatings; Energy Storage; Electronics; Polymer Additives; RFID;

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Graphene Market Drivers and Opportunities

Rising Demand for Graphene Composites in End-Use Industries to Favor Market

Composites are materials formed by combining two or more materials with varying properties to produce an end material with unique characteristics. Graphene composites are similarly produced that include graphene. The presence of graphene can create composites with excellent qualities and enhance the conductivity and strength of bulk materials. They enhance mechanical properties and dimensional stability and resist high temperatures, impacts, and flames. Graphene composites are widely used in medical implants, engineering materials for aerospace, building & construction, and renewables. Graphene and its derivatives can be functionalized and modified with several bioactive molecules. They can be combined with various biomaterials utilized in regenerative and reconstructive dentistry & medicine. The resultant graphene-modified composites exhibit enhanced mechanical properties and improved bioactivity.

Growing Demand for Consumer Electronics – An Opportunity

There is increasing global demand for consumer electronics, such as tablets and mobile phones, owing to the growing purchasing power of consumers. Graphene is widely used in electronics due to its superior properties, including excellent thermal & electrical conductivity, transparency, permeability, and strength. Graphene is used in manufacturing crucial elements in electronic devices, such as microchips or transistors. Besides, it is used as a coating to enhance current touch screens for phones and tablets. It can also be used to make the circuitry for computers, making them incredibly fast. Further, graphene oxide is extensively used in various applications, including transparent conductive films for myriad smartphones, optoelectronic devices, supercapacitors, and flexible electronic devices. Also, graphene's unique properties of thinness and conductivity have led to its applications as a semiconductor.

Graphene Market Report Segmentation Analysis

Key segments that contributed to the derivation of the graphene market analysis are type and application.

• Based on type, the graphene market is divided into monolayer and bilayer, graphene nano-platelets, graphene oxide, and others. The monolayer and bilayer segment held a larger market share in 2023.
• By application, the market is segmented into composites; functional inks, paints & coatings; energy storage; electronics; polymer additives; RFID; and others. The electronics segment held the largest share of the market in 2023.

Graphene Market Share Analysis by Geography

The geographic scope of the Graphene Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

Asia Pacific has dominated the graphene market. The Asia Pacific graphene market is further segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Australia, Japan, India, China, South Korea, Singapore, Taiwan, and Indonesia have large manufacturing industries in diverse sectors, including chemical, construction, automotive, and electronics. The growing demand for graphene compounds from various end-use industries has contributed to the growth of the graphene market in the region. The advanced electronics & energy storage sectors of Japan, China, and South Korea will continue to boost graphene consumption in Asia Pacific. China will play an important role in the graphene industry in the future due to the rapid development of technologies, supportive policies and investment. For example, Tianneng battery, Xupai Power Co, and Chaowei Power Co in China launched graphene-enhanced lead-acid batteries.

Graphene Market Report Scope

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Graphene Market News and Recent Developments

The graphene market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:

• In July 2022, Thomas Swan signed an agreement with Concrene Ltd. Thomas Swan planned to use graphene nanoplatelets in various concrete dispersion handled by Concrene Ltd. to produce high-compressive strength concrete. The agreement was aimed at expanding the Thomas Swan product application base further on a global scale. (Source: Thoman Swan/Company Website)
• In May 2022, Imkemex (based in Mumbai, India) and Applied Graphene Materials initiated an exclusive distribution agreement. With this new alliance, AGM hopes to directly extend its commercial reach to the liquid resins, coatings, composites, and polymers industries in the region. (Source: Imkemex/Company Website)

Graphene Market Report Coverage and Deliverables

The “Graphene Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles