The graphene market is projected to grow from US$ 821.2 million in 2021 to US$ 7,555.8 million by 2028; it is expected to grow at a CAGR of 37.3% from 2021 to 2028.
Graphene is a material consisting of carbon atoms arranged in hexagonal manner. The properties of graphene such as high thermal conductivity, electrical conductivity, elasticity, flexibility, transparency, resistance, and others broadens its scope of application in many industries.
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Graphene is a material composed of pure carbon, identical to graphite but with characteristics that make it incredibly light and strong. Its wide range of applications includes aerospace, automotive, coatings, additive manufacture, composites, concrete & cement, conductive ink, electrochemical, electronics, energy generation, energy storage, lubricants, magnets, and medical. Graphene is used to produce lighter and impact-resistant aircraft & helicopter structures. Further, graphene is used to manufacture building materials, such as paints and coatings.
Further, numerous graphene applications in biomedicine are categorized into several major areas, such as transport (delivery) systems, sensors, tissue engineering, and biological agents. Graphene can be used in myriad applications in the automotive industry, including composite structural components, automotive batteries, and tires. Therefore, the wide application scope of graphene is driving the global graphene market during the forecast period.
By type, the graphene market is segmented into monolayer and bilayer, graphene nano-platelets, graphene oxide, and others. The monolayer and bilayer segment held the largest market share in 2020 due to the rising integration of monolayer and bilayer graphene in the industries. It provides excellent mechanical strength & electrical conductivity and has high electronic mobility. Therefore, the segment finds applications in many areas such as membranes, coatings, sensors, photocatalysis, and solar cells.
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Some of the major key players operating in the global graphene market include XG Sciences; The Sixth Element Materials Technology Co.,Ltd; Global Graphene Group; NanoXplore Inc.; Graphenea; Directa Plus S.p.A; AVANZARE INNOVACION TECNOLOGICA S.L.; Thomas Swan & Co. Ltd.; Morsh; Perpetuus Advanced Materials PLC among few others.
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