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The Graphene Market size is estimated to grow by USD 773.01 million between 2022 and 2027 accelerating at a CAGR of 34.07% during the forecast period. The growth of the market depends on several factors, including the growing use of graphene in the construction industry, the expanding electronics and telecommunication industry, and the rising demand for graphene in the aerospace and aircraft industry.
This graphene market research report extensively covers market segmentation by product (graphene nanoplatelets, graphene oxide, reduced graphene oxide, and others), end-user (electronics, energy, composites, automotive, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
Carbon's one-atom-thick allotrope known as graphene is extremely elastic, robust, and lightweight. Its single-atom thickness makes it a two-dimensional substance. Due to these qualities, the material is perfect for a variety of applications in electronics, automotive, aerospace, construction, and other industries.
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
The growing use of graphene in the construction industry is the key graphene market driver boosting market growth. The construction industry, which has a significant impact on the global economy, requires the use of cost-effective and high-performance green building materials. Cement, a key ingredient in concrete, contributes to about 8% of global CO2 emissions. To address this, there is a need for new concrete and mortar composites that reduce cement usage and improve durability. Graphene, a promising substance, enhances the properties of concrete through structural modifications and functionalization. Its excellent strength characteristics, including high tensile strength and Young's modulus, make it suitable for various applications in the construction industry. Adding graphene to cement improves its strength and enables the production of self-cleaning, environmentally friendly concrete. The wide-ranging benefits of graphene are driving its adoption in construction industries globally, leading to the growth of the global graphene market.
The growing use of graphene in the medical sector is a significant graphene market trend. Graphene finds diverse medical applications, including drug delivery, DNA sequencing, and medical devices. Cancer research dominates graphene patents in the biomedical field due to the increasing prevalence and mortality rates of cancer worldwide. By chemically modifying graphene particles to target cancer cells, they can be injected into patients for more effective treatment. Graphene's ability to absorb infrared light enables targeted radiological treatments with fewer side effects. Graphene also shows promise in targeted drug delivery, preventing damage to healthy cells. The high surface area and 2D structure of graphene make it an ideal candidate for cancer treatment. Additionally, graphene-coated medical devices exhibit antibacterial properties, making them suitable for surgical implants. These advancements are expected to drive the growth of the global graphene market.
Problems associated with graphene production are a major graphene market challenge impeding the growth of the market. Manufacturers face significant challenges in commercializing graphene, including producing high-quality material at a large scale, low cost, and with repeatability. Imperfections in graphene, such as flaws, impurities, and structural issues, adversely affect its properties. The need for large-sized samples, achieved through the CVD process, hampers the development of high-quality graphene for electronic applications. Conventional synthesis methods using toxic chemicals raise safety concerns and environmental impact. The complexity and high production costs result in an expensive end-product, hindering widespread adoption. For example, graphene nanoplatelets can cost between USD 219 and USD 229 per kilogram. The high price of graphene remains a barrier to its commercial use. These production challenges pose a significant hurdle for the growth of the global graphene market.
The market share growth by the graphene nanoplatelets segment will be significant during the forecast period. GNPs are two-dimensional carbon structure materials with single or multiple layers of graphite plane. They have high electrical conductivity, high modulus, high strength, high thermal conductivity, and a high specific surface area.
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The graphene nanoplatelets segment was valued at USD 39.19 million in 2017 and continued to grow by 2021. The addition of graphene nanoplatelets enhances the properties of the resulting composite. This simultaneously improves several properties, thus reducing the need for additional additives, films, and laminations. Therefore, such applications of graphene nanoplatelets are expected to drive the growth of this segment during the forecast period.
Based on end-user, the sub-segment electronics holds the largest market share. Graphene offers significant improvements to current technology, such as enhancing touch screens and enabling faster computer circuitry. It also catalyzes the development of new electronics, including microchips and transistors. Conductive inks made from graphene are being explored for printing circuits. Graphene's unique properties enable the creation of flexible devices that can be rolled or folded. As a semiconductor, graphene outperforms silicon-based chips in terms of speed and energy efficiency. Graphene-based computers could store significantly more data in the same-sized hard drives. Additionally, graphene enables the development of devices with flexible, folding screens and tailored designs. Nanocircuits made of graphene boost wireless communication speed and quality. These applications drive the demand for graphene and contribute to the growth of the global graphene market.
APAC is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The APAC market experiences high growth due to the increasing demand for graphene across various industries like construction, automotive, electronics, aerospace, electrical, and steel. China is a major graphene producer in the region, while India's graphene industry is rapidly growing in the automotive and electronics sectors. These factors are expected to drive market growth in APAC.
The report includes COVID-19 impact analysis and recovery strategies for each segment. The pandemic initially affected the region's economic growth, but with the easing of lockdown restrictions and vaccination efforts, production in end-user industries such as automotive, aerospace, construction, pharmaceuticals, and electronics resumed, contributing to the growth of the graphene market in APAC.
Companies are implementing various strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Grolltex- The company offers graphene which can be combined with other elements (including gases and metals) to produce different materials with various superior properties.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The graphene market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Graphene Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 34.07% |
Market growth 2023-2027 |
USD 773.01 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
30.5 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 42% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
2D Carbon Graphene Material Co. Ltd., ACS Material, Advanced Graphene Products SA, Applied Graphene Materials PLC, CVD Equipment Corp., Directa Plus PLC, First Graphene Ltd., G6 MATERIALS Corp., Global Graphene Group, Grafoid Inc., Graphene Platform Corp., Grolltex Inc., Haydale Graphene Industries plc, Nanograf Corp., NanoXplore Inc., Thomas Swan and Co. Ltd., Vorbeck Materials Corp., and XG Sciences Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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