Wilmington, Delaware , Oct. 07, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Graphene Market by Type (Mono-layer & Bi-layer Graphene and Few Layer Graphene (FLG), Graphene Oxide (GO), Graphene Nano Platelets (GNP)), and Application (Electronics, Composites, Energy storage, Paint, Coatings & Inks, Tires and Others): Global Opportunity Analysis and Industry Forecast, 2024-2028". According to the report, the graphene market was valued at $0.3 billion in 2023, and is estimated to reach $1.4 billion by 2028, growing at a CAGR of 34.6% from 2024 to 2028.
Prime determinants of growth
The global graphene market is experiencing growth due to several factors such as rise in use in electronics and electrical gadgets and environmental and sustainability benefits. However, high material cost and scalability challenges hinder the market growth. Moreover, advancements in production techniques present growth opportunities for the market. Advancements in functionalization techniques have unlocked new possibilities for graphene's integration into diverse applications. Functionalization allows researchers to tailor graphene's properties to suit specific requirements, enhancing its compatibility with various materials and processes. Functionalized graphene derivatives exhibit improved dispersion, stability, and compatibility, enabling seamless integration into composites, coatings, and electronic devices.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2028 |
| Base Year | 2023 |
| Market Size in 2023 | $0.3 billion |
| Market Size in 2028 | $1.4 billion |
| CAGR | 34.6% |
| No. of Pages in Report | 410 |
| Segments Covered | Type, Application, and Region. |
| Regional Scope | North America, Europe, Asia Pacific, LAMEA |
| Drivers | Increasing use in electronics and electrical gadgets Environmental and sustainability benefits |
| Opportunity | Advancements in production techniques |
| Restraint | High material cost and scalability challenges |
Graphene nano platelets (GNP) segment maintains its dominance by 2028
By type, the graphene nano platelets (GNP) segment held the highest market share in 2023 and is estimated to maintain its leadership status during the forecast period. GNPs' large surface area and high aspect ratio contribute to their exceptional electrical and thermal conductivity. These properties make GNPs attractive candidates for enhancing the performance of electronic devices, batteries, and thermal management systems. By incorporating GNPs into conductive inks, coatings, and composites, manufacturers achieve higher conductivity, lower resistance, and improved heat dissipation, thereby enhancing the efficiency and reliability of electronic and thermal systems.
Energy storage segment is expected to lead the trail by 2028
Based on application, the energy storage segment held the highest market share in 2023 and is estimated to dominate during the forecast period. Graphene's mechanical strength and flexibility play a crucial role in energy storage applications. By incorporating graphene into battery electrodes and electrolytes, researchers improve the mechanical stability and durability of energy storage devices, leading to longer lifespan and enhanced safety. Moreover, graphene's flexibility allows for the development of bendable and stretchable energy storage solutions creates new possibilities for integration into wearable electronics and flexible displays.
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Asia-Pacific is expected to dominate the market during the forecast period
Based on region, Asia-Pacific was the fastest growing region in terms of revenue in 2023. Asia-Pacific electronics industry serves as a major catalyst for graphene adoption. As the world's largest consumer electronics market, the region's demand for smaller, faster, and more energy-efficient devices creates a compelling case for integrating graphene into electronic components. Graphene's exceptional electrical conductivity, mechanical flexibility, and thermal stability make it an ideal candidate for enhancing the performance of semiconductors, batteries, displays, and sensors, thus driving innovation and differentiation in the electronics sector.
Leading Market Players:
- ACS Material
- Applied Graphene Materials
- CVD Equipment Corporation
- Directa Plus S.p.A.
- G6 Materials Corp
- Graphenea
- Grolltex Inc
- NANOTEK INSTRUMENTS INC
- NanoXplore Inc.
- Vorbeck Materials Corp.
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The report provides a detailed analysis of these key players in the global graphene market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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