The Global Graphene Market accounted for 725.8 Million in 2021.
Grapheneis the first 2-D carbon material which is also known as a wonder material and is well suited for many applications. Graphene is extremely versatile, resistant to fire, an effective conductor, several times stronger than steel & a substance of ultra-lightness. Additionally, graphene is regarded in the chemical industry as an effective catalyst driven by its properties like the high surface area as well as adsorption power. Thus, increasing demand for chemicals is complementing the Graphene Market growth.
Factors such as increasing purchasing power, high demand for consumer electronics like tablets & mobile phones have a high potential for market growth. Graphene oxide-based transparent conductive films are used as raw materials in the automotive industry to make them safer & lighter. Additionally, ongoing R&D activities all over the globe, in particular, the use of value-added chemicals and large-scale graphene production through renewable sources, are factors that projected various new opportunities for market growth. On the contrary, the toxic nature of graphene and the risk involved in the graphene production process are factors pulling the global Graphene Market down.
The COVID-19 scenario has adversely affected the demand, supply, and manufacturing in different regions. The crisis also had an effect on the chemical industry supply chain up to a high extent. Therefore, there was a disturbance in raw material supply and procurement activities. Additionally, the final investment decision for electric vehicles is getting delayed by major automotive players due to reducing ratios of automotive sales. This is resulting in decreasing demand for graphene as it is used in batteries, composites, and other products.
Asia Pacific is expected to grow at the fastest CAGR during the forecast period. The growth is because of excellent electrical and thermal conductivities as graphene finds its use majorly in electronic and automotive industries which are growing rapidly in the Asia Pacific. The growing demand from end-use industries is therefore expected to drive regional growth.
Major Players in the industry are focusing on research and development activities for gaining a higher market share in the coming years.
Some of the prominent players operating in the globalGraphene Market includes - Angstron Materials, Inc., ACS Material, LLC, BGT Materials Ltd., CVD Equipment Corp., Directa Plus SpA, Grafoid Inc., Graphenea, Graphene NanoChem, NanoXplore, Inc., G6 Materials Corp., XGSciences, Thomas Swan & Co. Ltd., 2D Carbon Graphene Material Co., Ltd., Haydale Graphene Industries plc, and Applied Graphene Materials (AGM)