Press release
2D Materials Market Driven by Growing Demand in Energy Storage Electronics and Automotive Sectors
2D Materials Market
The 2D Materials market will reach over USD 7008.0 Mn by the year 2034, exhibiting a CAGR of 24.3% during the forecast period.
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The global demand for 2D materials is expected to witness significant growth, driven by their expanding application across a range of end-use industries, including composites and coatings, energy storage systems, electronics, semiconductors, pharmaceuticals, and the automotive sector. During the forecast period, the increased integration of 2D materials in healthcare applications, along with the rising utilization of non-graphene 2D variants such as MXenes, transition metal dichalcogenides (TMDCs), and hexagonal boron nitride, is projected to further propel market development.
Despite this upward trajectory, the high production costs associated with 2D materials are likely to present a challenge to market expansion in the near future. Currently in its growth phase, the 2D materials market is poised to benefit from several macroeconomic and technological trends, including the rising adoption of fuel cell vehicles and a global push toward decarbonization and emissions reduction. Additionally, the increasing demand from industrial sectors and the growing need for transparent conductive films in electronic applications are expected to further accelerate market growth.
List of Prominent Players in the 2D Materials Market:
• NanoXplore Inc.
• Cabot Corporation
• Smart-elements GmbH
• Thomas Swan & Co. Ltd.
• Ossila Ltd
• ACS Material LLC
• American Elements
• 2D Materials Pte Ltd.
• Blackleaf
• BASF SE
• 6Carbon Technology
• Garmor Tech
• Nitronix Nanotechnology Corporation
• Planar TECH LLC
• AVANZARE INNOVACION TECNOLOGICA S.L.
• XlynX Materials Inc.
• Layer One
• 2-D Tech
• 2D Water
• Smena
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Market Dynamics
Drivers:
The global 2D materials market is experiencing notable growth, primarily driven by increasing adoption in renewable energy applications and the rising use of hydrogen fuel cells in electric vehicles. Additional factors contributing to market expansion include cost-efficiency initiatives, the enforcement of environmentally sustainable standards, and the global emphasis on pollution reduction. A significant growth driver is the surging demand for transparent conductive films, which are integral to electronic devices such as mobile phone touchscreens, display panels, solid-state lighting, and solar photovoltaic (PV) modules.
Challenges:
A key challenge facing the 2D materials market is the difficulty in achieving large-scale production of high-quality graphene products, particularly in developing economies. At the device fabrication level, managing dielectric and contact interfaces presents technical constraints. The inherently self-passivating surface of 2D materials necessitates advanced fabrication techniques to facilitate effective dielectric layer deposition, which could impede widespread adoption.
Regional Trends:
North America is anticipated to capture a significant share of the global 2D materials market and is projected to register a strong compound annual growth rate (CAGR) over the forecast period. The region's growth is supported by a growing population, rapid urbanization, rising industrial activity, and increased research and development efforts by key market participants. In addition, Europe holds a substantial portion of the market, attributed to its mature economic landscape and the implementation of strategic initiatives by leading companies aimed at expanding the adoption of 2D materials across various sectors.
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Recent Development:
• In September 2021, Colloids Limited introduced a new infrastructure for customized polymeric materials using its ground-breaking graph and graphene masterbatch advanced technologies. Due to its extraordinary qualities, graphene has attracted a lot of attention. Additionally, it has exceptional mechanical characteristics and superior thermal and electrical permeability.
• In December 2021, Black Swan Graphene Inc. signed a legally enforceable letter of intent to purchase Dragonfly Capital Corp. in a backward merger agreement for $31.5 million. On December 13, 2021, Black Swan Graphene Inc. and Dragonfly Capital Corp. agreed to communicate shares in an opposite merger transaction. Stockholders of Black Swan would then obtain 15.2 consideration shareholding for every ordinary Black Swan share they own.
• In September 2022, NanoXplore purchases XG Science assets. This procurement greatly enhances its intangible assets associated with graphene and battery materials augmented by graphene, and it also expedites the industry's entry into the rechargeable batteries material market.
Segmentation of 2D Materials Market-
By End User-
• Composite and Coating
• Energy Storage Devices
• Electronics
• Semiconductor
• Pharmaceuticals
• Automobile
• Others
By Material Type-
• Graphene
• Black Phosphorous
• Transition Metal Dichalcogenides
• Mxene
• Hexagonal boron nitride
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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