Graphene Market Growth, Growth Demand, Key Drivers, Forecast To 2033

Overview and Scope

Graphene is a two-dimensional allotrope of carbon consisting of a single layer of carbon atoms arranged in a hexagonal lattice. Graphene exhibits extraordinary properties, including exceptional electrical conductivity, mechanical strength, thermal conductivity, and flexibility, making it a promising material for various applications in electronics and energy storage.

Sizing and Forecast

The graphene market size has grown exponentially in recent years. It will grow from $1.08 billion in 2023 to $1.32 billion in 2024 at a compound annual growth rate (CAGR) of 22.1%. The growth in the historic period can be attributed to increased adoption in electronics and semiconductors, growth in energy storage applications, expansion into healthcare and biomedical sectors, rise of graphene-enhanced composites in aerospace and automotive industries, and development of sustainable and eco-friendly graphene-based products.

The graphene market size is expected to see exponential growth in the next few years. It will grow to $2.98 billion in 2028 at a compound annual growth rate (CAGR) of 22.5%.The growth in the forecast period can be attributed to environmental concerns, industry collaboration, market expansion, supply chain optimization, and rket demand. Major trends in the forecast period include increased adoption in electronics and semiconductors, growth in energy storage applications, expansion into healthcare and biomedical sectors, rise of graphene-enhanced composites in aerospace and automotive industries, and development of sustainable and eco-friendly graphene-based products.

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Segmentation & Regional Insights

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

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.

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 Major Driver Impacting Market Growth

The rising demand for graphene from the automotive sector is expected to propel the growth of the graphene market going forward. The automotive sector refers to the industry involved in the design, manufacturing, marketing, and sales of vehicles, including automobiles, trucks, buses, and motorcycles. The rising demand for graphene from the automotive sector is due to its exceptional mechanical properties, including high strength and lightweight characteristics, which enable the production of vehicles with improved fuel efficiency, enhanced performance, and reduced environmental impact. Graphene is used in the automotive sector to enhance various components and systems, such as lightweight structural materials, conductive coatings for batteries and sensors, and heat management solutions, improving vehicle performance, efficiency, and sustainability. For instance, in May 2022, according to the Global Electric Vehicle Outlook report by the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, electric vehicle sales doubled in 2021 compared to 2020, reaching a value of around 6.6 million units. Moreover, in the first quarter of 2022, sales further increased, with 2 million electric cars sold worldwide. Therefore, the rising demand for graphene from the automotive sector is driving the growth of the graphene market.

Key Industry Players

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

 The graphene market report table of contents includes:

1. Executive Summary
2. Graphene Market Characteristics
3. Graphene Market Trends And Strategies
4. Graphene Market – Macro Economic Scenario
5. Global Graphene Market Size and Growth
..
32. Global Graphene Market Competitive Benchmarking
33. Global Graphene Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Graphene Market
35.Graphene Market Future Outlook and Potential Analysis
36. Appendix

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