Graphene Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Graphene Market 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 million) for all the above segments.

Graphene Industry Overview

Graphene Market - Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: Asia-Pacific
Largest Market: Asia-Pacific
CAGR: > 38 %

Major Players

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*Disclaimer: Major Players sorted in no particular order

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Graphene Market Analysis

The global graphene market was estimated to be valued at USD 556 million by the end of this year and is projected to register a CAGR of over 38% during the forecast period.

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

  • Over the medium term, the rising demand for printed electronics is expected to drive the market.
  • However, the drawbacks associated with graphene hinder the market's growth.
  • The development of single-crystal graphene sheets as a substitute for copper foil and the increasing use of graphene in touch screens are likely to act as opportunities for the market studied.
  • The Asia-Pacific region accounts for the highest market share and is expected to dominate the market during the forecast period.

Graphene Industry Segments

Graphene is the first 2D carbon substance found in the world. It has a wide variety of applications. Graphene 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 16 countries across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).

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 Trends

This section covers the major market trends shaping the Graphene Market according to our research experts:

Electronics and Telecommunication Segment to Dominate the Market

  • Electronics and telecommunication is the largest end-user industry for graphene and its derivatives. This industry uses graphene for various applications, including unbreakable touchscreens, transistors, supercharged batteries (enhanced lithium-ion batteries), optical electronics, printed electronics, and conductive inks.
  • The electronics industry is making significant progress, and the demand for the market studied is growing rapidly. The production of cellular phones, portable computing devices, gaming systems, and other personal electronic devices may continue to spark the demand for electronic components, which is expected to boost the demand for graphene.
  • In addition, graphene may modernize the smartphone industry by replacing the existing touchscreen technology. Graphene is considerably cheaper than the materials used in most modern smartphones and is much more agile. Graphene is used on a commercial scale in optoelectronics, specifically touchscreens (for smartphones, tablets, desktop computers, and televisions), liquid crystal displays (LCDs), and organic light-emitting diodes (OLEDs).
  • Germany has the largest electronic industry in Europe. According to the German Electrical and Electronic Manufacturers' Association, in December 2021, the electro and digital industry sales in Germany accounted for USD 21.03 billion, registering a growth rate of 8.5% compared to December 2020.
  • The electro and digital industry sales in Germany accounted for USD 231.89 billion in 2021, witnessing a growth rate of 9.7% compared to 2020. In production, the electro and digital industry registered a growth rate of 3.4% in December 2021 compared to December 2020. Industrial production grew by 8.8% compared to the 2020 production value.
  • The Asia-Pacific electronic industry has grown rapidly, owing to the high demand from countries like India and China. China is a strong, favorable market for electronics producers, owing to the country’s low labor cost and flexible policies. ​
  • India is expected to have a digital economy of USD 1 trillion by 2025. Furthermore, the country's electronics system design and manufacturing (ESDM) sector is expected to generate over USD 100 billion in economic value by 2025. The production of electricals and electronics in India is expected to increase rapidly due to government initiatives such as Make in India and the National Policy of Electronics, as well as the government's moves to lower import dependence and boost exports and manufacturing.
  • Due to the factors mentioned above, the demand for electronic goods is set to increase in the forecast period, thereby increasing the demand for graphene.
Graphene Market - Segmentation

Asia-Pacific Region to Dominate the 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 International Air Transport Association (IATA), India is poised to become the third-largest aviation market in the world by the end of the forecast period. The country is projected to have a demand for 2,100 aircraft over the next two decades, amounting to over USD 290 billion in sales. ​Owing to these factors, the demand for graphene from the aerospace sector is expected to rise.
  • According to the Stockholm International Peace Research Institute (SIPRI), China allocated an estimated USD 293 billion to its military in 2021, an increase of 4.7% compared to 2020.
  • The Photovolt Ukushima Solar PV Park is a 480 MW solar PV power project planned in Nagasaki, Japan. The project is currently in the permitting stage. It may be developed in a single phase. After the completion of the construction, the project is expected to get commissioned in July 2023.
  • In Japan, according to Japan Electronics and Information Technology Industries Association (JEITA), as of December 2021, the global production of Japanese electronics and IT industry, including electronic equipment, components, devices, and others, was estimated to register a growth of 8% Y-o-Y in 2021 to USD 332.76 billion and the industrial production is expected to be valued at USD 338.96 billion in 2022, with an estimated growth of 2% Y-o-Y.
  • Hence, owing to the trends mentioned above, Asia-Pacific is likely to dominate the market studied during the forecast period.
Graphene Market - Regional Trend

Graphene Market Competitor Analysis

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 include NanoXplore Inc., Morsh, Sixth Element (Changzhou) Materials Technology Co. Ltd, XG Sciences Inc., and Global Graphene Group, among other companies.

Graphene Market Top Players

  1. NanoXplore Inc

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

  3. Morsh

  4. Global Graphene Group

  5. XG Sciences

*Disclaimer: Major Players sorted in no particular order

Graphene Market - Market Concentration.png

Graphene Market Recent Developments

  • July 2022: Haydale Graphene Industries PLC collaborated with Vittoria SpA, a performance bicycle tire-producing company, on the co-development and supply of functionalized graphene nanomaterial in addition to the rubber of bicycle tires. Haydale received an order for 1 ton of functionalized graphene in this respect. The two companies also finalized terms to produce functionalized graphene in Thailand near the Vittoria factories in the medium term.
  • March 2022: Graphene Manufacturing Group Ltd and Amec Foster Wheeler PLC signed a non-binding Letter of Intent for GMG’s major graphene manufacturing expansion projects. Under this agreement, Wood would support GMG in scaling up and automating its proprietary natural gas to the graphene manufacturing process.

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 Rising Demand for Printed Electronics

    2. 4.2 Restraints

      1. 4.2.1 Drawbacks Associated with Graphene

    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 Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 2D Carbon Graphene Materials Co. Ltd

      2. 6.4.2 ACS Material

      3. 6.4.3 Applied Graphene Materials PLC

      4. 6.4.4 China Carbon Graphite Inc. (Royal Elite New Energy Science & Technology (Shanghai) Co. Ltd)

      5. 6.4.5 Elcora Advanced Materials Corp.

      6. 6.4.6 Global Graphene Group

      7. 6.4.7 Graphene Manufacturing Group Ltd

      8. 6.4.8 Grafoid Inc.

      9. 6.4.9 Grupo Graphenano

      10. 6.4.10 G6 Materials Corp.

      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 Perpetuus Advanced Material PLC

      16. 6.4.16 The Sixth Element (Changzhou) Materials Technology Co. Ltd

      17. 6.4.17 Thomas Swan & Co. Ltd

      18. 6.4.18 Versarien PLC

      19. 6.4.19 Vorbeck Materials Corp.

      20. 6.4.20 XGSciences

      21. 6.4.21 Xiamen Knano Graphene Technology Corporation Limited

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

    1. 7.1 Development of Single-crystal Graphene Sheets as Substitute for Copper Foil

    2. 7.2 Increasing Use of Graphene in Touchscreens

**Subject to Availability
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Graphene Market Research FAQs

The Graphene Market is studied from 2018 - 2028.

The Graphene Market is growing at a CAGR of >38% over the next 5 years.

Asia-Pacific is growing at the highest CAGR over 2018 - 2028.

Asia-Pacific holds highest share in 2021.

NanoXplore Inc, Sixth Element (Changzhou) Materials Technology Co. Ltd , Morsh, Global Graphene Group, XG Sciences are the major companies operating in Graphene Market.

Graphene Industry Reports

In-depth industry statistics and market share insights of the Graphene sector for 2020, 2021, and 2022. The Graphene research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Graphene report PDF.

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