Graphene Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Global Graphene Market Report is Segmented by Product Type (Graphene Sheets and Films, Nanoribbons, Nanoplatelets, Graphene Oxide, and Other Product Types), End-User Industry (Electronics and Telecommunication, Bio-Medical and Healthcare, Energy, Aerospace and Defense, and Other End-User Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). The Report Offers the Market Size and Forecasts in Terms of Revenue (USD) for all the Above Segments.

Graphene Market Size

Graphene Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 0.79 Billion
Market Size (2029) USD 4.84 Billion
CAGR (2024 - 2029) 43.64 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific

Major Players

Graphene Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Graphene Market Analysis

The Graphene Market size is estimated at USD 0.79 billion in 2024, and is expected to reach USD 4.84 billion by 2029, growing at a CAGR of 43.64% during the forecast period (2024-2029).

COVID-19 negatively impacted the market in 2020 and 2021. The resumption of operations in major end-user industries significantly recovered in 2022.

  • Over the medium term, graphene aiding the aerospace industry and rising demand for printed electronics are expected to drive the market.
  • However, the drawbacks associated with graphene hinder the market's growth.
  • The development of graphene nanodevices for DNA sequencing and the adoption of graphene into photodetectors are expected to act as opportunities for the market studied.
  • The Asia-Pacific region has the highest market share and is expected to dominate the graphene market during the forecast period.

Graphene Market Trends

Electronics and Telecommunication Segment to Dominate the Market

  • Electronics and telecommunications is the largest end-user industry for graphene and its derivative products. This industry uses graphene for various applications, including unbreakable touchscreens, transistors, supercharged batteries (enhanced lithium-ion batteries), optical electronics, printed electronics, and conductive inks.
  • Graphene has several useful properties, including high mechanical strength, electron mobility, and superior thermal conductivity.
  • According to the Japan Electronics and Information Technology Industries Association (JEITA), the production by the global electronics and IT industry was valued at USD 3,436.8 billion in 2022, registering a growth of 1% year on year, compared to USD 3,360.2 billion in 2021. Moreover, the industry is expected to reach USD 3,436.8 billion, with a growth of 3% yearly this year.
  • The Asia-Pacific electronic industry has grown rapidly lately, owing to the high demand from countries like China, Japan, and India. China is a strong, favorable market for electronics producers, owing to the country's low labor cost and flexible policies.
  • China is the largest base for electronics production in the world. Electronic products, such as smartphones, TVs, and other personal devices, recorded the highest growth in electronics. The country serves the domestic demand for electronics and exports electronic output to other countries. This factor is expected to drive the growth of the market studied.
  • India is expected to become the world's fifth-largest consumer electronics and appliances industry, with a digital economy of USD 1 trillion in the next few years.
  • Indian electronics system design and manufacturing (ESDM) sector is expected to generate over USD 100 billion in economic value in the next few years. Electrical and electronics production in India is expected to increase rapidly due to government initiatives with policies, such as Make in India, National Policy of Electronics, Net Zero Imports in Electronics, and Zero Defect Zero Effect, which offer a commitment to growth in domestic manufacturing, lowering import dependence, energizing exports, and manufacturing, like the 'Make in India' program to make the country self-reliant.
  • In Europe, the German electronics industry is the largest in the region. According to the Zentralverband Elektrotechnik- und Elektronikindustrie eV (ZVEI), German electro and digital industry turnover accounted for EUR 224.5 billion (USD 236.58 billion) in 2022, witnessing a growth of 12% compared to 2021.
  • Due to the factors mentioned above, the demand for electronic goods is set to increase during the forecast period, thereby increasing the demand for graphene.
Graphene Market -Electronics Production, Value in USD billion, Global, 2018-2022

China to Dominate the Asia Pacific Market

  • The Asia-Pacific region accounts for the largest share of the graphene market. Owing to rapid industrialization and rising graphene-based application patents in the region, graphene oxide is anticipated to register high growth.
  • China has one of the largest production bases for electronics. It offers tough competition to the existing upstream producers, such as South Korea, Singapore, and Taiwan. Electronic products such as smartphones, OLED TVs, and tablets have the highest growth rates in the consumer electronics segment of the market in terms of demand.
  • According to the National Bureau of Statistics of China, retail sales of household appliances and consumer electronics in China amounted to almost CNY 61 billion (USD 8.52 billion) in April 2023.
  • Major electronics companies operating in China are BOE, Changhong, DJI, Haier, Hisense, Huawei, Konka, Lenovo (Hong Kong-based), Meizu, Panda Electronics, Skyworth, SVA, TCL, Xiaomi, Oppo, and ZTE. The expansion of the electronics industry in China is expected to boost the graphene market during the forecast period.
  • Furthermore, graphene is used to create lighter and impact-resistant aircraft and helicopter structures. Deicing systems on wings can be manufactured using graphene. Considering thermal/electrical conductivity, mechanical resistance, and straightforward functionalization, graphene is used in several defense applications, including optoelectronic devices, flexible systems, ballistic protection materials, lightweight protection armor, military helmets, camouflage, and signature management.
  • China is one of the largest aircraft manufacturers and one of the largest markets for domestic air passengers. Moreover, the country's aircraft parts and assembly manufacturing sector has been increasing, with over 200 small aircraft parts manufacturers.
  • The Chinese aerospace industry is recovering steadily after facing a significant decline in the previous years. The Civil Aviation Administration of China (CAAC) has estimated the aviation sector to recover domestic traffic to around 85% of pre-pandemic levels.
  • Moreover, Chinese airline companies plan to purchase about 7,690 new aircraft in the next 20 years, valued at approximately USD 1.2 trillion, which is expected to raise the demand for the graphene market.
  • According to the Stockholm International Peace Research Institute (SIPRI), China, the world's second-largest spender, allocated an estimated USD 292 billion to its military last year, an increase of 4.2% compared to the year prior. China's military expenditure has increased for 28 consecutive years.
  • Hence, owing to the abovementioned trends, Asia-Pacific is expected to dominate the market studied during the forecast period.
Graphene Market - Growth Rate by Region, 2023-2028

Graphene Industry Overview

The global graphene market is consolidated, where top players hold the majority share of the market studied. Some of the major players in the market (not in any particular order) include NanoXplore Inc., The Sixth Element (Changzhou) Materials Technology Co. Ltd, NeoGraf, Morsh (Ningbo Moxi Technology Co. Ltd), and Global Graphene Group, among other companies.

Graphene Market Leaders

  1. NanoXplore Inc.

  2. The Sixth Element (Changzhou) Materials Technology Co. Ltd

  3. NeoGraf

  4. Morsh (Ningbo Moxi Technology Co. Ltd)

  5. Global Graphene Group

*Disclaimer: Major Players sorted in no particular order

Graphene Market Concentration
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Graphene Market News

  • In March 2023, Universal Matter UK Limited, a wholly-owned subsidiary of Universal Matter Inc., announced the acquisition of Applied Graphene Materials UK Limited and Applied Graphene Materials LLC, the principal operating subsidiaries of Applied Graphene Materials PLC. Through the acquisition, the company has strengthened its market presence.
  • In February 2023, Global Graphene Group announced that Honeycomb Battery Company, an advanced battery technology subsidiary of Global Graphene Group, Inc., signed a business combination agreement with Nubia Brand International Corp. to develop battery materials. Honeycomb Battery Company is expected to use graphene produced by the Global Graphene Group.

Graphene Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Graphene Aiding the Aerospace Industry

      2. 4.1.2 Rising Demand for Printed Electronics

    2. 4.2 Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Price Trends

    6. 4.6 Technological Landscape - Quick Snapshot

    7. 4.7 Production Analysis

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Product Type

      1. 5.1.1 Graphene Sheets and Films

      2. 5.1.2 Nanoribbons

      3. 5.1.3 Nanoplatelets

      4. 5.1.4 Graphene Oxide

      5. 5.1.5 Other Product Types

    2. 5.2 End-user Industry

      1. 5.2.1 Electronics and Telecommunication

      2. 5.2.2 Bio-medical and Healthcare

      3. 5.2.3 Energy

      4. 5.2.4 Aerospace and Defense

      5. 5.2.5 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 ASEAN Countries

        6. 5.3.1.6 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Spain

        6. 5.3.3.6 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 ACS Material

      2. 6.4.2 Changzhou Two-Dimensional Carbon Technology Co., Ltd

      3. 6.4.3 Elcora Advanced Materials Corp.

      4. 6.4.4 First Graphene

      5. 6.4.5 G6 Materials Corp

      6. 6.4.6 Global Graphene Group

      7. 6.4.7 Grafoid Inc.

      8. 6.4.8 Graphenano Group

      9. 6.4.9 Graphene Manufacturing Group Ltd.

      10. 6.4.10 Graphene Production

      11. 6.4.11 Graphenea

      12. 6.4.12 Haydale Graphene Industries PLC

      13. 6.4.13 Morsh (Ningbo Moxi Technology Co. Ltd)

      14. 6.4.14 Nanoxplore Inc.

      15. 6.4.15 Neograf

      16. 6.4.16 Perpetuus Advanced Materials PLC

      17. 6.4.17 The Sixth Element (Changzhou) Materials Technology Co. Ltd

      18. 6.4.18 Thomas Swan & Co. Ltd

      19. 6.4.19 Universal Matter

      20. 6.4.20 Versarien PLC

      21. 6.4.21 Vorbeck Materials Corp.

      22. 6.4.22 Xiamen Knano Graphene Technology Corporation Limited

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Development of Graphene Nanodevices for DNA Sequencing

    2. 7.2 Adoption of Graphene into Photodetectors

**Subject to Availability
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Graphene Industry Segmentation

Graphene is the first 2D carbon substance found in the world. It has a wide variety of applications. It is fire-resistant, an excellent conductor, highly flexible, and 200 times stronger than steel. It is also an excellent catalyst due to its wide surface area and adsorption power. The graphene market is segmented by product type, end-user industry, and geography. 

By product type, the market is segmented into graphene sheets and films, nanoribbons, nanoplatelets, graphene oxide, and other product types. By end-user industry, the market is segmented into electronics and telecommunication, bio-medical and healthcare, energy, aerospace and defense, and other end-user industries. 

The report also covers the market size and forecasts for graphene in 17 countries across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD).

Product Type
Graphene Sheets and Films
Nanoribbons
Nanoplatelets
Graphene Oxide
Other Product Types
End-user Industry
Electronics and Telecommunication
Bio-medical and Healthcare
Energy
Aerospace and Defense
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Spain
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa
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Graphene Market Research FAQs

The Graphene Market size is expected to reach USD 0.79 billion in 2024 and grow at a CAGR of 43.64% to reach USD 4.84 billion by 2029.

In 2024, the Graphene Market size is expected to reach USD 0.79 billion.

NanoXplore Inc., The Sixth Element (Changzhou) Materials Technology Co. Ltd, NeoGraf, Morsh (Ningbo Moxi Technology Co. Ltd) and Global Graphene Group are the major companies operating in the Graphene Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia-Pacific accounts for the largest market share in Graphene Market.

In 2023, the Graphene Market size was estimated at USD 0.45 billion. The report covers the Graphene Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Graphene Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

The major factors driving Graphene adoption in the electronics Industry are a) Improved conductivity and supercharged batteries b) Unbreakable touchscreens and printed electronics

Graphene Industry Report

The global graphene market is projected to experience significant growth, as revealed by Mordor Intelligence™ Industry Reports. This growth is driven by increasing demand from various industries, including automotive, aerospace, electronics, military, and construction. The automotive and transportation industry, in particular, is the largest application industry for graphene, utilizing it in composite structural components, automotive batteries, tires, and anti-braking systems. However, the market faces challenges such as the difficulty of mass-producing high-quality, defect-free graphene due to the cost-intensive and time-consuming manufacturing process, and the lack of standardization in the graphene industry, which leads to diversification and confusion. The Asia-Pacific region is projected to register the highest growth rate in the global graphene market, spurred by increasing R&D activities and demand from the automotive and electronics industries. For a more detailed analysis, including market share, size, and revenue growth rate, as well as a market forecast outlook and historical overview, a sample of this industry analysis is available as a free report PDF download.

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Graphene Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)