Graphene Global Market Report 2024

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 expansion observed in the historical period can be credited to heightened usage in electronics and semiconductors, the proliferation of energy storage applications, diversification into healthcare and biomedical domains, the emergence of graphene-enhanced composites in aerospace and automotive sectors, and the advancement 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, collaborative efforts within industries, market expansion endeavors, optimization of the supply chain, and increasing market demand. Notable trends anticipated during this period encompass heightened adoption in electronics and semiconductors, expanded utilization in energy storage applications, penetration into healthcare and biomedical fields, the ascent of graphene-enhanced composites in aerospace and automotive industries, and the evolution of sustainable and eco-friendly graphene-based products.

The increasing demand for graphene from the automotive sector is anticipated to drive the expansion of the graphene market in the future. The automotive sector encompasses the design, production, marketing, and sales of vehicles, including automobiles, trucks, buses, and motorcycles. This heightened demand for graphene in the automotive sector is attributed to its outstanding mechanical properties, such as high strength and lightweight characteristics, which facilitate the manufacturing of vehicles with enhanced fuel efficiency, improved performance, and reduced environmental impact. Graphene finds application in various components and systems within the automotive sector, including lightweight structural materials, conductive coatings for batteries and sensors, and solutions for heat management, thereby enhancing vehicle performance, efficiency, and sustainability. For example, according to the Global Electric Vehicle Outlook report released by the International Energy Agency (IEA) in May 2022, electric vehicle sales doubled in 2021 compared to 2020, reaching approximately 6.6 million units. Furthermore, in the first quarter of 2022, sales continued to rise, with 2 million electric cars sold globally. Consequently, the increasing demand for graphene from the automotive sector is a key driver of the graphene market's growth.

Leading companies in the graphene market are innovating with products such as graphene-based high-performance car wax, leveraging graphene's unique properties to offer car owners enhanced durability, water resistance, and ease of application. Graphene-based car wax utilizes graphene, a two-dimensional carbon material prized for its exceptional mechanical, thermal, and electrical characteristics. For instance, in January 2021, Infinity Wax introduced Graphene Wax, developed in collaboration with Applied Graphene Materials. This product utilizes AGM's Genable graphene nanoplatelet dispersions, delivering outstanding water beading, long-lasting paint protection, and a professional wax shine. It also boasts resistance to environmental contaminants, quick drying, smooth application, and removal, all while incorporating eco-friendly ingredients for a sustainable detailing experience.

In March 2023, Universal Matter UK Limited, a subsidiary of Universal Matter Inc., a US-based graphene manufacturer, acquired Applied Graphene Materials UK Limited and Applied Graphene Materials LLC for $1.3 million. This acquisition granted Universal Matter Inc. access to Applied Graphene Materials' cutting-edge product technologies and dispersion platform, accelerating the development of graphene-based solutions and offering industries high-performance, sustainable materials. Applied Graphene Materials Ltd., based in the UK, specializes in developing graphene dispersions and nanoplatelets to enhance material properties across various applications.

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.

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.

The countries covered in the graphene market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Graphene, a two-dimensional form of carbon, is composed of a single layer of carbon atoms arranged in a hexagonal lattice. Its remarkable properties encompass exceptional electrical conductivity, mechanical strength, thermal conductivity, and flexibility, rendering it highly promising for diverse applications in electronics and energy storage.

Graphene yields several key products, including graphene nanoplatelets, graphene oxide, reduced graphene oxide, monolayer graphene, bulk graphene, and others. Graphene nanoplatelets denote graphene sheets possessing a high aspect ratio, commonly utilized as reinforcing agents in composites to enhance mechanical properties. Their applications span across various sectors such as paints, coatings, electronic components, batteries, solar panels, and more, encompassing industries such as automotive, medical, aerospace, defense, concrete, tires, and others.

The graphene market research report is one of a series of new reports that provides graphene market statistics, including the graphene industry global market size, regional shares, competitors with graphene market share, detailed graphene market segments, market trends, and opportunities, and any further data you may need to thrive in the graphene industry. These graphene market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The graphene market consists of sales of inks and coatings, batteries and supercapacitors, biomedical devices, paints and coatings, photovoltaic devices, and energy harvesting devices. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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