The consumption of graphene is rapidly increasing in electrical & electronics applications, while the compound is also finding widespread usage in the medical sector. Driven by these factors, the global graphene market is expected to reach $646.8 million by 2030, from $87.5 million in 2019, at a 20.2% CAGR during 2020–2030 (forecast period).
Graphene Market Segmentation
During the historical period (2014–2019), the powder category dominated the market, as the material in the powder form is heavily consumed in the manufacturing of storage batteries, sensors, and printing technologies. Moreover, compared to flake and dispersion, graphene powder is easier to manage and handle.
Till 2030, the electrical & electronics division is expected to generate the highest revenue the graphene market, on account of the rising usage of the material in the manufacturing of touch screens coatings, flexible displays, and precise sensors, due to its appreciable electrical conductivity and mechanical strength.
North America is projected to witness the highest CAGR in the market during the forecast period, as a result of the growing usage of the material in composites, which are themselves used during the manufacturing of automobiles, aircraft, and a wide range of electrical and electronic devices. Additionally, the demand for graphene for the production of medical devices is also surging in the continent.
Market Competition being Shaped by Product Launches
In the past few years, the competition in the graphene market has been marked by a number of product launches by the major players, in an attempt to edge out their competitors. For instance, in November 2019, First Graphene Limited introduced a new formulation of its PureGRAPH graphene powder, in 10 µm, 20 µm, and 5 µm particle sizes, for industrial use.
In the same vein, in July 2019, graphene products, under the brand name Alltimes Coatings Advantage, were launched by Applied Graphene Materials plc, with the aim to offer commercial and industrial customers a new roofing solution.
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The major graphene market players include Angstron Materials Inc., The Sixth Element (Changzhou) Materials Technology Co. Ltd., Ningbo Moxi Technology Co. Ltd., Deyangene Carbon Technology Co. Ltd., XG Sciences Inc., Xiamen Knano Graphene Technology Co. Ltd., 2D-Tech Graphene, Applied Graphene Materials, NanoXplore Inc., Graphenea S.A., ACS Material LLC, and Thomas Swan and Co. Ltd.
Other key companies in the global graphene market are Ad-Nano Technologies Private Limited, 2D Carbon Graphene Material Co. Ltd., AMO GmbH, Aixtron AG, Cambridge Nanosystems, Asbury Carbons Inc., DIRECTA PLUS S.p.A, Canada Carbon Inc., Elcora Advanced Materials Corp., Dotz Nano, Garmor Inc., First Graphene Limited, Graphene 3D Lab, GRAFENTEK, Graphene Square Inc., Graphene Leaders Canada, Haydale Limited, Graphene-XT, Jiangmen Daxing Knitting Co. Ltd., Incubation Alliance Inc., NANOCHEMAZONE, Micro Powders Inc., Ontario Graphite Ltd., Northern Graphite Corporation, Saint Jean Carbon Inc., planarTECH LLC, Talga Resources Ltd., and Sigma Industries Inc.