The global graphene market is anticipated to grow at a CAGR of around 19.8% during the forecast period. Increasing product penetration in multiple applications such as energy storage, semiconductors, and sensors is expected to fuel the market further. In terms of volume, the automotive and transportation industry is a major application industry in the graphene market. Its application in the automotive industry includes automotive batteries, tires, anti-braking systems and composite structural components among others. The graphene market is expected to be driven by increased demand from these applications during the forecasted period. Additionally, graphene has also wider applications in the chemical industry as it acts as an effective catalyst due to its unique properties such as its absorption power and high surface area. Therefore, rising demand for chemicals is projected to increase graphene demand, driving the growth of the market. On the contrary, the risk associated with the graphene production process and the toxic nature of graphene will be hampering the global graphene market over the forecasted period. 

Impact of COVID-19 on Global Graphene market

The COVID-19 had a positive impact on the graphene market as there is a growing demand for graphene materials in the healthcare sector for medical sensors and drug carriers during the COVID-19 pandemic. Graphene's antimicrobial and antiviral effectiveness has prompted the scientific community's interest in investigating its applications in the prevention, detection, and diagnosis of COVID-19. The strong interaction of reaction sites on the surface of graphene materials with nucleic acid protein, and enzymes, and illustrated their suitability as SARS-CoV-2 detection sensors. In addition to early detection and protection, researchers have created graphene-based coatings for clinical settings or high-traffic areas that are effective at removing SARS-CoV-2 membranes upon contact. Therefore, the pandemic overall emerged to be boosting graphene market growth in the coming years, with growing demands and product use of graphene-based materials.

Segmental Outlook 

The global graphene market is segmented based on type and end-user. Based on type the market is segmented into graphene oxide (GO), mono-layer & bi-layer graphene, few layers graphene (FLG), graphene nanoplatelets (GNP), and others (D Graphene Foams, Pristine Graphene). Further, based on end-user, the market is classified as biomedical & life sciences, electronics, defense, 3d printing, and others (Aerospace, Energy, Paints & Coatings, Adhesive, Sports, And Water Filtrations).

Global Graphene Market Share by Type, 2020 (%)

The GNP segment is estimated to grow significantly during the forecast period in the global Graphene market 

Among type segments, the GNP segment is projected to have significant growth in the global graphene market due to its wide applications in telecommunication, medical, aerospace, energy storage and others. The product's high mechanical strength and distinct morphology have encouraged its use in the production of composites. Further, because of its stiffness, strength, and surface hardness, the product is used in the fabrication of various types of composites. Additionally, they’re also found in silicone rubber GNP composites, epoxy GNP composites, and fluoroelastomer (FKM) GNP composites. These composites have increased conductivity and are appropriate for high-temperature applications. Graphene nanoplatelets are likely to be used as a potential substitute for various carbon-based materials used in composite fabrication due to their large-scale production at a lower cost. As an outcome, significant growth in the nanocomposite segment, combined with product availability at an economically viable price, is expected to fuel segment growth in the coming years.

Regional Outlooks

The global Graphene market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. North America is projected to have the largest market share in the global Graphene market due to increased demand in various end-user industries such as electronics and aerospace in the US, Canada, and Mexico. The region is dominated by various small and medium-scale manufactures. These market suppliers have strong distribution networks which enable them to grow and maintain loyal customers, therefore, propelling the growth of the market. 

Global Graphene Market Growth, by Region 2021-2027

Asia-Pacific is projected to grow significantly in the global Graphene market during the forecast period 

Asia-Pacific is projected to have significant growth in the market during the forecast period. The growth is attributed to increasing graphene applications in the electronics industry, as well as the availability of inexpensive labor. Additionally, the development of telecom and automotive industries in the region is stimulating the demand for graphene in the region. Furthermore, due to low cost and increasing demand for electronics products, China's electronics manufacturing industry is constantly expanding. Therefore, with the increase in disposable income, the demand for electronic products is estimated to grow in the near future resulting from the growth of the graphene market in the region. 

Market Players Outlook

The key players of the graphene market include ACS Material LLC, CVD Equipment Corps, Graphenea Inc., XG Sciences Inc, Directa Plus S.p.A. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers, and acquisitions, collaborations, and new product launches, to stay competitive in the market. For instance, in December 2019, XG Sciences Inc a graphene nanoplatelet manufacturer announced that it has entered into a commercialization agreement with Perpetuus Advance Materials, a manufacturer of dispersible, surface-modified graphene, to maximize its performance in a variety of matrices and end-use markets. The collaboration includes both product development and high-volume commercial production capacity. This collaboration will allow the two companies to work closely together in supplying functionalized graphene in the North American market and develop applications for the global market. 

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global Graphene market
• Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where in the market.