Press release
2D Materials Market to Grow at 4.2% CAGR, Reaching $2.67 Billion by 2029
2D Materials Market
2D Materials Market Outlook: How is the Market Expected to Grow by 2025?
In recent times, the market size for 2d materials has been progressively increasing. This market is expected to expand from $2.2 billion in 2024 to $2.27 billion in 2025 with a compound annual growth rate (CAGR) of 3.3%. Factors contributing to this growth during the historic period include a rise in demand for advanced electronic devices, increased funding in research and development, the growing usage of graphene-based materials in commercial utilizations, a surge in interest towards energy storage and battery related technologies, and better material characteristics in comparison to conventional equivalents.
2D Materials Market Forecast: What Size Will It Reach By 2029?
The market size of 2D materials is projected to maintain steady progress in the coming years, with an estimated worth of $2.67 billion in 2029 and a compound annual growth rate (CAGR) of 4.2%. The predicted expansion in the upcoming period can be credited to the escalating demand for innovative electronic and optoelectronic devices, an increase in research and development investment, the burgeoning semiconductor sector, government incentives and financial support for 2D material research, as well as the proliferation of applications for graphene and transition metal dichalcogenides (TMDs). Key trends within the forecast period incorporate the embracing of wearable and flexible technologies, breakthroughs in nanotechnology and material engineering, the creation of mass production methodologies, the incorporation of 2D materials into semiconductor fabrication, and advancements in chemical vapor deposition (CVD) methods for large-scale production.
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Which Key Market Drivers Will Shape 2D Materials Industry Trends in 2025-2029?
The expansion of the automotive industry is anticipated to drive the progression of the 2D materials market. The proliferation of the automotive sector is largely due to the enhanced safety and convenience provided by autonomous driving technology. Advancements in self-driving vehicles are being propelled by investments in Artificial Intelligence-powered driver assistance systems. 2D materials offer numerous benefits in the automotive sector such as improved battery efficiency, lighter structures, and superior sensors, contributing to heightened performance and safety. For example, Statistics Canada, a government agency, reported in November 2023, that the total number of registered motor vehicles on Canadian roads reached 26.3 million in 2022, marking a 0.3% incline from 2021. Furthermore, in 2022, electric vehicles made up 3.0% of light-duty vehicle registrations, a significant increase from 2.3% in 2021. Consequently, the flourishing automotive industry is spearheading the expansion of the 2D materials market.
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What Are the High-Growth Segments in the 2D Materials Market?
The 2D materials market covered in this report is segmented -
1) By Type: Graphene, Hexagonal Boron Nitride, Black Phosphorus, Germanene, Silicene, Other Types
2) By Production Method: Chemical Vapor Deposition, Mechanical Exfoliation, Liquid Exfoliation, Other Production Methods
3) By End User: Electronics, Energy Storage Devices, Composite And Coating, Biomedical Applications, Other End Users
Subsegments:
1) By Graphene: Monolayer Graphene, Few-Layer Graphene, Graphene Nanoplatelets, Reduced Graphene Oxide (rGO), Pristine Graphene
2) By Hexagonal Boron Nitride (h-BN): Monolayer h-BN, Few-Layer h-BN, h-BN Nanotubes, h-BN Nanoparticles
3) By Black Phosphorus: Monolayer Phosphorene, Few-Layer Phosphorene, Bulk Black Phosphorus
4) By Germanene: Monolayer Germanene, Doped Germanene, Functionalized Germanene
5) By Silicene: Monolayer Silicene, Silicene Nanoribbons, Hydrogenated Silicene
6) By Other Types: Stanene, Molybdenum Disulfide (MoS2), Tungsten Disulfide (WS2), Transition Metal Dichalcogenides (TMDs), Other Emerging 2D Materials
Which Global Trends Are Driving 2D Materials Market Expansion?
Key players in the 2D materials market, such as NanoXplore Inc., are pioneering new products like high-volume graphene powder to boost performance across various industries. High-volume graphene powder, a large-scale production of graphene in powdered form, is widely used in several industrial processes. In January 2024, NanoXplore, a leading Canadian graphene firm, unveiled plans to extend production capabilities for its St-Clotilde, QC plant to satisfy increasing demand for Graphene-reinforced SMC components from a current client. This strategy is in line with their objective to elevate production, improve efficiency, and cater to critical industries such as automotive, aerospace, energy storage, and coatings.
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Who Are the Fastest-Growing Companies in the 2D Materials Industry?
Major companies operating in the 2D materials market are Samsung Advanced Institute of Technology, BASF SE, LG Chem Ltd, Sixth Element Materials Technology, AIXTRON SE, ACS Material LLC, Cambridge Nanosystems Ltd, NanoXplore Inc., CVD Equipment Corporation, Black Swan Graphene Inc., Thomas Swan & Co. Ltd, Directa Plus, Haydale Graphene Industries Plc, Avanzare Innovacion Tecnologica S.L., Graphenea S.A., Grolltex Inc., 2D Carbon Tech Inc., Elcora Advanced Materials Corp, Abalonyx AS, Global Graphene Group.
What Is the Regional Outlook for the 2D Materials Market by 2029?
North America was the largest region in the 2D materials market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the 2D materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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