Graphene Market To Generate Revenue Worth $1,188.8 Million by 2030

The rapid increase in demand for graphene for electrical & electronics applications and rise in number of applications of graphene are the major growth drivers for the global graphene market. Due to the aforementioned factors, the industry is projected to generate $1,188.8 million revenue by 2030, advancing at a CAGR of 30.2% during the forecast period (2020–2030).

In the first phase of COVID-19 pandemic, manufacturing facilities of the graphene industry were closed due to lockdowns, which led to a negative impact on the market. Despite the limitations on the movement of commodities and persons imposed by the governments across the world, the demand for graphene has increased to an extent. This is mainly due to its surging use as coatings of facemasks, which limit the danger of transmission, and it has a wide range of applications in various industries, such as electrical & electronics, composites, energy, and biomedical.

Powder Category Witnesses Highest Demand in Comparison to Other Forms of Graphene

The graphene market is categorized into powder, dispersion, and others, based on form. Among these, the powder category dominated the market during the historical period (2015–2020), and it is expected to retain its dominance during the forecast period as well. This is mainly due to the high-volume adoption of powdered graphene for applications in sensors, electronic devices, flexible displays, drugs, batteries, and others.

Moreover, the market for graphene is categorized into electrical & electronics, composites, energy, biomedical, and others, based on application. Out of these, biomedical is expected to be the fastest-growing category during the forecast period. This can be primarily due to the fact that graphene is an important material that has several applications in the biomedical sector, including cancer therapies, diagnostic tools, tissue engineering, implants, deoxyribonucleic acid (DNA) sequencing, biomarker, and transfer of genetic material, as well as in the combined field of biomedical imaging and neuroscience.

Geographically, Asia-Pacific (APAC) is projected to account for the largest share in the graphene market in coming years. This can be mainly attributed to the rising applications of graphene, such as composites, electrical & electronics, and biomedical, particularly in developing nations, such as China and India. In addition, increasing spending on research and development (R&D) activities is expected to further augment the growth of the regional market during the forecast period.

Product Launches Are Most-Effective Strategic Measures Taken by Market Players

Players in the global graphene industry have been involved in product launches to gain a significant position in the market. For instance, in January 2020, Micro Powders Inc., in collaboration with Garmor Inc., launched GraphShield 730, which is a next-generation anti-corrosion additive for powder coating applications. With this launch, Micro Powders Inc. aims to expand the business portfolio of nanocomposite additive powders.

Similarly, in November 2019, Haydale Graphene Industries Plc launched a range of graphene-enhanced prepreg materials for lightning-strike protection, utilizing functionalized nanomaterials to improve the electrical conductivity. The materials have been developed in collaboration with Airbus U.K., BAE Systems Plc, GE Aviation, and Element Materials Technology Ltd.

Major players operating in the graphene market are The Sixth Element (Changzhou) Materials Technology Co. Ltd., Angstron Materials Inc., Deyangene Carbon Technology Co. Ltd., Ningbo Moxi Technology Co. Ltd., Xiamen Knano Graphene Technology Co. Ltd., XG Sciences Inc., Applied Graphene Materials plc., 2-DTech Graphene, Graphenea S.A., ACS Material LLC, NanoXplore Inc., and Thomas Swan & Co. Ltd.