Graphene Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 0.93 Billion |
| Market Size (2029) | USD 4.77 Billion |
| CAGR (2024 - 2029) | 38.64 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Graphene Market Analysis
The Graphene Market size is estimated at USD 0.93 billion in 2024, and is expected to reach USD 4.77 billion by 2029, growing at a CAGR of 38.64% during the forecast period (2024-2029).
- The application of graphene in the aerospace industry and the rising demand for printed electronics are expected to be the major factors driving the market.
- However, the limited production volume of graphene and environmental concerns are expected to hinder the market's growth.
- Nevertheless, developing graphene nanodevices for DNA sequencing and adopting graphene in photodetectors are expected to create new opportunities for the market studied.
- Asia-Pacific holds the highest market share, and the region is expected to dominate the graphene market during the forecast period.
- Despite the widespread disruptions caused by the COVID-19 pandemic, the graphene market remained resilient and continued to grow. The pandemic accelerated research into graphene-based biomedical applications, such as graphene-based sensors for virus detection, graphene-enhanced personal protective equipment (PPE), and graphene-based wound healing materials. This increased focus on healthcare applications has benefited the graphene market.
Graphene Market Trends
Electronics and Telecommunication Segment to Dominate the Market
- Graphene and its derivatives are extensively used in the electronics and telecommunications industry. This sector harnesses graphene for a myriad of applications, such as unbreakable touchscreens, transistors, enhanced lithium-ion batteries, optical electronics, printed electronics, and conductive inks.
- Graphene has several useful properties, including high mechanical strength, electron mobility, and superior thermal conductivity.
- The electronics industry stands as one of the largest and fastest-growing sectors globally. In the digital age, electronic devices play a pivotal role. The demand for these gadgets is set to surge, solidifying their status as a key economic driver globally. As per the data from the Japan Electronics and Information Technology Industries Association (JEITA), the global electronics and IT sectors are poised for 9% growth in 2024, rebounding from a projected 3% decline in 2023.
- Asia-Pacific dominates global electronics production, accounting for over 70%. Countries like Japan, China, and India play pivotal roles in manufacturing diverse electronic components and supplying them to industries worldwide.
- As reported by the Japan Electronics and Information Technology Industries Association (JEITA), Japan's electronics industry boasted a production value of approximately JPY 10.7 trillion (~USD 0.074 trillion) in 2023. This industry spans consumer electronics, industrial electronic equipment, and various electronic components. Notably, JEITA highlighted a production growth of over 1% in discrete semiconductors by Japanese manufacturers in 2023 than 2022.
- Germany boasts the largest electronics industry in Europe and ranks as the world's fifth-largest market, as reported by the Germany Electrical and Electronics Association (ZVEI). The electronics sector in Germany contributes 10% to the country's industrial output and accounts for 3% of its GDP. Furthermore, it employs roughly 14% of the industry's total workforce. Notably, Germany allocates about 24% of its total R&D expenditure to the electronics and microtechnology sectors, which encompass semiconductor fabrication.
- In the United States, swift technological advancements and robust R&D activities are propelling the demand for cutting-edge electronic products. The industry is witnessing continuous and significant progress. According to the Consumer Technology Association, retail revenue from consumer electronics and technology sales in the United States reached an impressive USD 485 billion in 2023.
- Given these dynamics, the demand for electronics and telecommunications is poised to rise in the coming years, subsequently boosting the demand for graphene.
Asia Pacific to Dominate the Market
- Asia-Pacific leads the graphene market, driven by swift industrialization and a surge in graphene-based application patents. As a result, graphene oxide is set for significant growth.
- China, boasting one of the world's largest electronics production bases, poses a formidable challenge to upstream producers in South Korea, Singapore, and Taiwan. In the consumer electronics segment, products like smartphones, OLED TVs, and tablets are witnessing the highest demand growth.
- As per data from China's National Bureau of Statistics, in April 2023, retail sales for household appliances and consumer electronics reached nearly CNY 61 billion (USD 8.52 billion).
- Furthermore, China's prowess in the global aerospace arena is evident, with strengths in aircraft manufacturing and a booming domestic air travel sector. The nation's aircraft parts and assembly industry is expanding swiftly with the presence of over 200 small parts manufacturers.
- According to the International Trade Administration (ITA), China is the second-largest civil aerospace market globally. As of January 2024, the National Bureau of Statistics of China and the Civil Aviation Administration of China reported 7,351 civil aircraft, an increase of over 550 airplanes from 2022.
- India, as reported by the International Air Transport Association (IATA) in May 2023, is on track to become the world's third-largest aviation industry by 2030, with a projected demand for 2,100 aircraft over the next two decades, translating to sales exceeding USD 290 billion.
- China's influence extends to the global medical devices market, bolstered by government policies fostering domestic innovation. Notable players in the country include Mindray Medical, Intco Medical, Lepu Medical, Zhejiang Orient Gene, and Shinva. Projections indicate China could capture 25% of the global medical device industry revenue by 2030.
- Given these trends, Asia-Pacific is poised to maintain its dominance in the graphene market during the forecast period.
Graphene Industry Overview
The graphene market is consolidated in nature. The major players (not in any particular order) include NanoXplore Inc., The Sixth Element (Changzhou) Materials Technology Co. Ltd, NeoGraf, Morsh (Ningbo Moxi Technology Co. Ltd), and Global Graphene Group.
Graphene Market Leaders
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NanoXplore Inc.
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The Sixth Element (Changzhou) Materials Technology Co. Ltd
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NeoGraf
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Morsh (Ningbo Moxi Technology Co. Ltd)
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Global Graphene Group
*Disclaimer: Major Players sorted in no particular order
Graphene Market News
- March 2023: Universal Matter UK Limited, a wholly-owned subsidiary of Universal Matter Inc., announced the acquisition of Applied Graphene Materials UK Limited and Applied Graphene Materials LLC, the principal operating subsidiaries of Applied Graphene Materials PLC. Through the acquisition, the company has strengthened its market presence.
- February 2023: Global Graphene Group announced that Honeycomb Battery Company, an advanced battery technology subsidiary of Global Graphene Group Inc., signed a business combination agreement with Nubia Brand International Corp. to develop battery materials. Honeycomb Battery Company is expected to use graphene produced by the Global Graphene Group.
- August 2022: Universal Matter entered a three-year collaborative innovation agreement with the ChemQuest Technology Institute. Through the agreement, the company has strengthened its growth and validation of Universal Matter’s graphene technology based on sustainable feedstocks.
Graphene Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Market Drivers
- 4.1.1 Graphene Aiding the Aerospace Industry
- 4.1.2 Rising Demand for Printed Electronics
- 4.1.3 Other Drivers
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4.2 Market Restraints
- 4.2.1 Limited Production Volume of Graphene
- 4.2.2 Environmental Concerns
- 4.2.3 Other Restraints
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size by Value)
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5.1 By Product Type
- 5.1.1 Graphene Sheets and Films
- 5.1.2 Nanoribbons
- 5.1.3 Nanoplatelets
- 5.1.4 Graphene Oxide
- 5.1.5 Other Product Types
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5.2 By End-user Industry
- 5.2.1 Electronics and Telecommunication
- 5.2.2 Bio-medical and Healthcare
- 5.2.3 Energy
- 5.2.4 Aerospace and Defense
- 5.2.5 Other End-user Industries
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5.3 By Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Malaysia
- 5.3.1.6 Thailand
- 5.3.1.7 Indonesia
- 5.3.1.8 Vietnam
- 5.3.1.9 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 France
- 5.3.3.4 Italy
- 5.3.3.5 Spain
- 5.3.3.6 NORDIC Countries
- 5.3.3.7 Turkey
- 5.3.3.8 Russia
- 5.3.3.9 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Colombia
- 5.3.4.4 Rest of South America
- 5.3.5 Middle East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 Qatar
- 5.3.5.3 United Arab Emirates
- 5.3.5.4 Nigeria
- 5.3.5.5 Egypt
- 5.3.5.6 South Africa
- 5.3.5.7 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 ACS Material
- 6.4.2 Changzhou Two-Dimensional Carbon Technology Co. Ltd
- 6.4.3 Elcora Advanced Materials Corp.
- 6.4.4 First Graphene
- 6.4.5 G6 Materials Corp
- 6.4.6 Global Graphene Group
- 6.4.7 Grafoid Inc.
- 6.4.8 Graphenano Group
- 6.4.9 Graphene Manufacturing Group Ltd
- 6.4.10 Graphenea Inc.
- 6.4.11 Haydale Graphene Industries PLC
- 6.4.12 Morsh (Ningbo Moxi Technology Co. Ltd)
- 6.4.13 Nanoxplore Inc.
- 6.4.14 Neograf
- 6.4.15 Perpetuus Advanced Materials PLC
- 6.4.16 The Sixth Element (Changzhou) Materials Technology Co. Ltd
- 6.4.17 Thomas Swan & Co. Ltd
- 6.4.18 Universal Matter
- 6.4.19 Versarien PLC
- 6.4.20 Vorbeck Materials Corp.
- 6.4.21 Xiamen Knano Graphene Technology Co. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Development of Graphene Nanodevices for DNA Sequencing
- 7.2 Adoption of Graphene into Photodetectors
- 7.3 Other Opportunities
Graphene Industry Segmentation
Graphene, the world's first discovered 2D carbon material, boasts a myriad of applications. Renowned for its fire resistance, exceptional conductivity, and remarkable flexibility, graphene is also 200 times stronger than steel. Furthermore, its expansive surface area and superior adsorption capabilities make it an outstanding catalyst.
The graphene market is segmented by product type, end-user industry, and geography. By product type, the market is segmented into graphene sheets and films, nanoribbons, nanoplatelets, graphene oxide, and other product types. By end-user industry, the market is segmented into electronics and telecommunication, bio-medical and healthcare, energy, aerospace and defense, and other end-user industries. The report also covers the market size and forecasts in 27 countries across major regions. For each segment, the market sizing and forecasts are provided in value (USD).
| By Product Type | Graphene Sheets and Films | |
| Nanoribbons | ||
| Nanoplatelets | ||
| Graphene Oxide | ||
| Other Product Types | ||
| By End-user Industry | Electronics and Telecommunication | |
| Bio-medical and Healthcare | ||
| Energy | ||
| Aerospace and Defense | ||
| Other End-user Industries | ||
| By Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Malaysia | ||
| Thailand | ||
| Indonesia | ||
| Vietnam | ||
| Rest of Asia-Pacific | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| NORDIC Countries | ||
| Turkey | ||
| Russia | ||
| Rest of Europe | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Colombia | ||
| Rest of South America | ||
| By Geography | Middle East and Africa | Saudi Arabia |
| Qatar | ||
| United Arab Emirates | ||
| Nigeria | ||
| Egypt | ||
| South Africa | ||
| Rest of Middle East and Africa |
Graphene Market Research FAQs
How big is the Graphene Market?
The Graphene Market size is expected to reach USD 0.93 billion in 2024 and grow at a CAGR of 38.64% to reach USD 4.77 billion by 2029.
What is the current Graphene Market size?
In 2024, the Graphene Market size is expected to reach USD 0.93 billion.
Who are the key players in Graphene Market?
NanoXplore Inc., The Sixth Element (Changzhou) Materials Technology Co. Ltd, NeoGraf, Morsh (Ningbo Moxi Technology Co. Ltd) and Global Graphene Group are the major companies operating in the Graphene Market.
Which is the fastest growing region in Graphene Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Graphene Market?
In 2024, the Asia-Pacific accounts for the largest market share in Graphene Market.
What years does this Graphene Market cover, and what was the market size in 2023?
In 2023, the Graphene Market size was estimated at USD 0.57 billion. The report covers the Graphene Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Graphene Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the major factors driving Graphene adoption in the electronics Industry?
The major factors driving Graphene adoption in the electronics Industry are a) Improved conductivity and supercharged batteries b) Unbreakable touchscreens and printed electronics
What are the major factors driving Graphene adoption in the electronics Industry?
The major factors driving Graphene adoption in the electronics Industry are a) Improved conductivity and supercharged batteries b) Unbreakable touchscreens and printed electronics
Graphene Industry Report
The global graphene market is projected to experience significant growth, as revealed by Mordor Intelligence™ industry reports. This growth is driven by increasing demand from various industries, including automotive, aerospace, electronics, military, and construction. The automotive and transportation industry, in particular, is the largest application industry for graphene, utilizing it in composite structural components, automotive batteries, tires, and anti-braking systems. However, the market faces challenges such as the difficulty of mass-producing high-quality, defect-free graphene due to the cost-intensive and time-consuming manufacturing process, and the lack of standardization in the graphene industry, which leads to diversification and confusion.
The Asia-Pacific region is projected to register the highest growth rate in the global graphene market, spurred by increasing R&D activities and demand from the automotive and electronics industries. For a more detailed analysis, including market share, size, and revenue growth rate, as well as a market forecast outlook and historical overview, a sample of this industry analysis is available as a free report PDF download.
The industry research highlights the market growth driven by various sectors, with the automotive industry being the largest application industry for graphene. The market analysis indicates significant potential, but the industry faces challenges in mass-producing high-quality graphene. The market forecast suggests robust growth in the Asia-Pacific region due to increased R&D activities and demand from key industries. The market value and market size are projected to expand as graphene applications continue to diversify.
Industry statistics reveal the growing market trends and the importance of standardization in the graphene industry. The market outlook remains positive, with the industry size expected to increase. The market segmentation indicates diverse applications, and the market overview provides insights into the industry's future. The market predictions align with the industry's growth trajectory, supported by industry sales and research companies focusing on graphene innovation.
For a comprehensive understanding, the report example and report PDF offer detailed market data and industry information. The industry outlook and market review emphasize the significance of graphene in various applications, highlighting the market leaders and their contributions to the industry's advancement.
