Press release
Global Graphene Market Projected to Surpass $3.64 Billion by 2029 with 22.4% Annual Growth
Graphene
The automotive sector's rising demand for graphene is forecasted to boost the graphene market's growth. Graphene, known for its high strength and lightness, helps improve vehicle fuel efficiency, performance, and sustainability. It is used in structural materials, battery coatings, and heat management systems. In June 2024, the International Energy Agency reported that global electric vehicle (EV) sales exceeded 14 million in 2023, indicating a strong demand for materials like graphene in the automotive industry.
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What is the projected compound annual growth rate (CAGR) of the graphene market from 2025 to 2034, and what factors influence it?
The graphene market has grown rapidly in recent years. It is expected to increase from $1.32 billion in 2024 to $1.62 billion in 2025, with a CAGR of 22.8%. This growth is due to its increasing use in electronics and semiconductors, expansion in energy storage applications, penetration into healthcare and biomedical sectors, adoption of graphene-enhanced composites in aerospace and automotive industries, and the development of eco-friendly graphene-based products.
The graphene market is forecast to grow exponentially, reaching $3.64 billion by 2029 at a CAGR of 22.4%. The market expansion is supported by environmental concerns, industry collaboration, supply chain optimization, and rising demand. Major trends include wider adoption in electronics and semiconductors, growth in energy storage applications, use in healthcare and biomedical sectors, and the development of eco-friendly graphene products.
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How are the latest trends influencing the growth of the graphene market?
Companies in the graphene market are focusing on creating innovative platforms like the Graphene Research and Development Hub to promote advancements in graphene-based technologies. In January 2024, the Ministry of Electronics and Information Technology in India launched the first Graphene Innovation Centre and Centre of Excellence in Intelligent IoT Sensors. These centers provide full research, development, innovation, and testing facilities, fostering collaboration and skills development in India.
What are the major segments of the graphene market and their role in driving growth?
The graphene market covered in this report is segmented -
1) By Product: Graphene Nanoplatelets, Graphene Oxide, Reduced Graphene Oxide, Monolayer Graphene, Bulk Graphene, Other Products
2) By Application: Paints And Coatings, Electronic Components, Composites, Batteries, Solar Panels, Other Applications
3) By End-Use: Automotive, Medical, Aerospace, Defense, Concrete Industry, Tires, Other End-Users
Subsegments:
1) By Graphene Nanoplatelets: Exfoliated Graphene Nanoplatelets, Surface-Modified Graphene Nanoplatelets
2) By Graphene Oxide: Single-Layer Graphene Oxide, Multi-Layer Graphene Oxide,
3) By Reduced Graphene Oxide: Reduced Graphene Oxide (rGO), Chemically Reduced Graphene Oxide, Thermally Reduced Graphene Oxide
4) By Monolayer Graphene: CVD (Chemical Vapor Deposition) Monolayer Graphene, Exfoliated Monolayer Graphene
5) By Bulk Graphene: Graphene Foams, Graphene Sheets, Graphene Nanostructures
6) By Other Products: Graphene Composites, Graphene-Based Films, Graphene Coatings, Graphene-Based Supercapacitors
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Which region dominates the graphene market?
Asia-Pacific was the largest region in the graphene market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the graphene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the graphene market?
Major companies operating in the graphene market are NanoXplore Inc., Ningbo Morsh Technology Co. Ltd., Nanjing XFNANO Materials Tech Co. Ltd., Thomas Swan & Co. Ltd., Directa Plus S.P.A., Versarien plc, AMO GmbH, Avanzare Innovacion Tecnologica S.L., Grafoid Inc., Vorbeck Materials Corp., 2D Carbon Graphene Material Co. Ltd, ACS Material, Graphene Laboratories Inc., GRAPHENE SQUARE INC., Graphenea, Graphmatech AB, HAYDALE GRAPHENE INDUSTRIES PLC, Nanotech Energy Inc., Talga Group, Universal Matter Inc., XG Sciences, Zentek Ltd., Global Graphene Group, BGT Materials Ltd., Cheap Tubes
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What Is Covered In The Graphene Global Market Report?
•Market Size Forecast: Examine the graphene market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the graphene market for a structured understanding.
•Key Players Overview: Analyze major players in the graphene market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the graphene market.
•Segment Contributions: Evaluate how different segments drive overall growth in the graphene market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the graphene market.
•Industry Challenges: Identify potential risks and obstacles affecting the graphene market.
•Competitive Landscape: Review strategic developments in the graphene market, including expansions, agreements, and new product launches.
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