Chicago, April 12, 2023 (GLOBE NEWSWIRE) -- The global graphene market size was USD 620 million in 2020 and is expected to reach USD 1,479 million by 2025, projecting a CAGR of 19.0% between 2020 and 2025, as per the recent study by MarketsandMarkets™. Applications of graphene are increasing in the automotive & transportation, aerospace, construction, electronics, and military & defense end-use industries, due to its exceptional properties. The increasing demand of graphene from the automotive & transportation end-use industry drives the graphene market.
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Browse in-depth TOC on “Graphene Market”
168 - Market Data Tables
31- Figures
199- Pages
List of Key Players in Graphene Market:
- NanoXplore Inc. (US)
- Graphenea SA (Spain)
- Avanzare Innovacion Tecnologica S.L. (Spain)
- Global Graphene Group (US)
- Directa Plus S.p.A. (Italy)
- Haydale Graphene Industries Plc (Italy)
- Changzhou Sixth Element Materials Technology Co., Ltd. (China)
- Ningbo Morsh Technology Co., Ltd. (China)
- Nanjing XFNANO Materials Co., Ltd.
- Xiamen Knano Graphene Technology Corporation Limited, (China)
- JCNANO Tech Co., Ltd. (China)
- Others
Drivers, Restraints, Opportunities and Challenges in Graphene Market:
- Drivers: Increasing demand from the automotive & transportation end-use industry to drive the demand for graphene
- Restraints: Difficulty in mass production is major restraint of the market
- Challenges: Lack of standardisation in graphene industry is major challenge
- Opportunity: Increasing R&D activities is a major driver for the graphene market
Key Findings of the Study:
- Bulk graphene type of graphene comprises a major share of the graphene market in terms of value and volume.
- The composites application accounts for the largest market share in the global graphene market during the forecasted period in terms of value and volume
- The automotive & transportation end-use industry accounted for the largest market share in the global graphene market during the forecast period in terms of value and volume.
- APAC is expected to account for the largest market share in the graphene market during the forecast period.
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The automotive & automotive & transportation is the largest end-use industry of graphene in terms of value. Graphene has various applications in the automotive industry. When mixed with rubber, it increases both the durability and grip of tires. Graphene can be used as an additive in composites for making body panels. It increases the structural properties of composites to make body part stronger and lighter, and also can help in increasing the mechanical as well as thermal performance of vehicles. As the automotive industry is moving towards e-mobility and looking to reduce vehicle weight and increase the performance of batteries, graphene plays an important role in achieving these goals.
China is the largest market for graphene in the world, in terms of both value and volume. The trend is expected to be the same during the forecast period. The country is home to some of the major application industries such as composites and electronics. The growing demand from the automotive & transportation, electronics, and aerospace industry in the region is propelling the market for graphene in China. With Germany, the US, Spain, and India being the most affected countries, the entire supply chain in the graphene industry is disrupted globally. The lockdown of international borders has reduced the growth of the graphene market in Europe and North America.
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Graphene are segmented based on type into bulk graphene and monolayer graphene. The bulk graphene type holds the largest share in the global graphene market. Bulk graphene type of graphene includes graphene nanoplatelets (GNPs), graphene oxide, reduced graphene oxide, and other forms of graphene. Increasing applications of Bulk graphene finds wide applications in composites applications is expected to drive the demand.
The graphene market is segmented on the basis of applications into composites, energy storage & harvesting, electronics, paints & coatings, catalyst, and tires. The composites segment holds the largest share in the global graphene market, owing to wide-scale applications of graphene-based composites in the automotive & transportation, and aerospace end-use industry.
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