Press release
2D Materials Market Expands Rapidly with Strong Demand from Energy Storage Electronics and Automotive Applications
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 market for 2D materials is poised for substantial growth, primarily driven by their expanding utilization across diverse end-use industries such as composites and coatings, energy storage, electronics, semiconductors, pharmaceuticals, and automotive manufacturing. Throughout the forecast period, the adoption of 2D materials in healthcare applications is anticipated to increase, alongside growing interest in non-graphene variants-including MXenes, transition metal dichalcogenides (TMDCs), and hexagonal boron nitride-which is expected to further stimulate market advancement.
However, the elevated production costs associated with 2D materials may pose a challenge to broader commercialization efforts in the near term. As the market continues to evolve, it is expected to benefit from key macroeconomic and technological drivers, including the rising deployment of fuel cell vehicles and heightened global efforts toward decarbonization and emission control. Moreover, increasing industrial demand and the expanding need for transparent conductive films in electronic applications are projected to further support 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 market for 2D materials is witnessing robust growth, primarily fueled by their increasing deployment in renewable energy systems and the expanding use of hydrogen fuel cells in electric vehicles. Additional growth enablers include cost-optimization measures, the enforcement of sustainable environmental regulations, and a global shift toward pollution mitigation. A major driver of market demand is the growing need for transparent conductive films, which play a critical role in a variety of electronic applications, including mobile device touchscreens, display technologies, solid-state lighting, and photovoltaic (PV) solar modules.
Challenges:
One of the principal challenges confronting the 2D materials market is the difficulty in scaling up the production of high-quality graphene products, particularly within emerging economies. At the manufacturing level, technical hurdles persist, especially in managing dielectric and contact interfaces. The self-passivating nature of 2D material surfaces necessitates the use of advanced fabrication technologies for effective dielectric layer deposition, which may limit broader industry adoption.
Regional Trends:
North America is expected to command a significant share of the global 2D materials market and is forecasted to exhibit a strong compound annual growth rate (CAGR) throughout the forecast period. This growth is underpinned by rising population levels, accelerated urban development, expanding industrial activities, and increased investments in research and development by prominent market players. Meanwhile, Europe also accounts for a considerable portion of the market, supported by its established economic infrastructure and strategic initiatives by leading firms aimed at promoting the use of 2D materials across diverse industrial 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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