Graphene Statistics | Industry Report, Market Demand, Size & Share, Forecast 2027
The global graphene market size valued at $87.5 million in 2019, and is projected to reach $876.8 million by 2027, growing at a CAGR% of 40.2% from 2020 to 2027.
Factors that are expected to fuel the growth of the graphene market are growing purchasing power and increasing consumer electronics demand such as tablets and mobile phones. In addition, graphene oxide-based transparent conductive films are used as a raw material in automotive to make them safer and lighter. However, the toxic nature of graphene and the risk involved in the graphene production process are expected to hamper the global graphene market growth over the projected period. Furthermore, continuous R&D activities around the globe and large-scale graphene production through renewable sources, in particular the use of value-added chemicals, are expected to give the industry enormous opportunities for growth.
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The global graphene market is segmented based on type, application, and region. By type, the market is classified into mono-layer & bi-layer graphene, few layer graphene (FLG), graphene oxide (GO), and graphene nano platelets (GNP). According to application, it is divided into RFID, composites, sensors, research & development, energy storage, functional ink, polymer additives, tire, coatings, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the key players operating in the global graphene market are ACS Material LLC, Bluestone Global Tech, CVD Equipment Corporation, Graphene Nanochem PLC, Graphenea S.A., G6 Materials, Haydale Limited, Nanotek Instruments Inc., Vorbrck Materials, and XG Sciences.
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Global Graphene Market, by application
By application, composites are expected to experience the highest development in the coming years, due to their power and weight enhancement ability. These are used in a range of fields including manufacturing, automotive, and aerospace. By adding little amount of graphene to materials such as metals, polymers and ceramics, manufacturers are able to develop strong and lightweight materials with high electrical conductivity and heat resistance. The material is also used for energy generation and storage. A major source of market supply was the research institutes and multinationals. They conducted comprehensive R&D in order to use and establish the range of implementation of the product.
Global Graphene Market, by region
By region, North America accounted for second highest graphene market share in 2019, and is expected to retain its dominance over the forecast period. Asia-Pacific is also predicted to experience the fastest growth over the forecast period. Due to its excellent electrical and thermal conductivities; Graphene finds its use primarily in the electronic and automotive industry. Both the electronic and automotive industries are growing rapidly in Asia Pacific, and they are major end-users of graphene. High growth of these end-use industries is therefore expected to fuel the demand for graphene in the region.
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