VANCOUVER, BC, Dec. 14, 2021 /PRNewswire/ -- Global graphene market size reached USD 614.7 Million in 2020 and is expected to register a significantly robust revenue CAGR during the forecast period, according to latest analysis by Emergen Research.
Global graphene market revenue growth is driven by rising demand for lightweight, versatile, and renewable materials with extended life span. The global energy industry is shifting towards clean energy sources, which is increasing demand for low-cost, high-efficiency products, and in turn is expected to continue to drive revenue growth of the market to a significant extent over the forecast period. Graphene is also rapidly gaining traction in automotive and aerospace and defense industries as graphene is lightweight, yet robust and durable. Application as an additive in composites is expected to increase substantially as demand for lightweight and safer cars rises going ahead.
Some factors expected to hamper market revenue growth include toxicity of graphene and risks associated with the graphene production process. Graphene production is expected to be hampered to some extent over the forecast period Owing to its volatile nature, graphene requires cautious and exact handling, as well as compliance with regulations for flammable products.
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The global graphene market size has been projected to increase from USD 614.7 Million in 2020 to USD 2,676.0 Million in 2028 and register a revenue CAGR of 20.4% over the forecast period. Global graphene market revenue is expanding steadily due to rising demand for graphene in a wide range of applications in countries across the globe. Stringent restrictions and regulations in various countries to minimize carbon emissions are also expected to boost product demand going ahead.
COVID-19 Impact Analysis:
Following the COVID-19 pandemic and resulting disruptions in demand and supply chains, the global graphene market revenue has begun to recover from a decline in growth. The virus has caused companies to shut down production and operational units to minimize further infections and spread. As a result, graphene use in industrial automotive, aerospace, electronics, as well as other industries has decreased significantly.
Depending on material costs, antibody-conjugated graphene sheets can be used for vast population screening, in environmental sensors, and for filtering applications. Graphite filters are used to capture bacteria and other particles in order to limit the spread of nosocomial infections. For combating COVID-19, such sensors can be used on medication efficiency screening and standard utility textiles. During the pandemic, many manufacturing firms, including Directa Plus and Graphenea, provided free samples to various researchers and research institutes in order to develop diagnostic equipment that can aid in the fight against COVID-19.
Current Trends and Innovations:
Graphene is widely used in bioelectric sensors used in the monitoring of lipids, glucose, and hemoglobin levels in blood, as well as those used to test deoxyribonucleic acid due to its high strength and thinness. In addition, graphene is widely utilized in cancer therapy, dental treatment, medicinal instruments, and medical implants, which is a key factor propelling graphene market growth. In addition, major research is being conducted to improve the compatibility of graphene nanoparticles with human immune cells by integrating graphene with medicines, nano adjuvants, and vaccines carriers. These are some of the trends observed in the market.
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North America graphene market revenue is expected to increase substantially due to increase in the number of research institutions and universities as well as increased cooperation with product manufacturers to create next-generation graphene for the aerospace, defense, and electronics industries. Robust presence of aerospace companies in the United States is also expected to boost demand for lightweight composite materials, which in turn is expected to augment revenue growth of the market in the region.
Some major companies operating in the market include Graphenea S.A., NanoXplore Inc., Directa Plus S.p.A., Haydale Graphene Industries plc, Ningbo Morsh Technology Co., Ltd., Nanjing XFNANO Materials Tech Co., Ltd., Jiangsu Cnano Technology Co., Ltd., 2-DTech Ltd, Global Graphene Group, and Xiamen Knano Graphene Technology Co., Ltd.
- In April 2021, NanoXplore Inc. announced an update on its GrapheneBlack regulatory clearance. NanoXplore was granted permission to manufacture and distribute its GrapheneBlack in any quantity in Canada on September 4, 2020, under the Canadian Environmental Protection Act, 1999, for commercial applications as an additive in plastic products, thermosetting composite materials, paints and coatings, and also as a part of battery electrodes. NanoXplore further clarified that their GrapheneBlack is not being used in any masks and it exclusively sells graphene for purposes that have been approved by regulators.
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Emergen Research has segmented the global graphene on the basis of type, product, application, end-use, and region:
- Type Outlook (Volume Tons, Revenue, USD Million; 2018–2028)
- Monolayer Graphene
- Bulk Graphene
- Product Outlook (Volume Tons, Revenue, USD Million; 2018–2028)
- Graphene Oxide
- Graphene Nanoplatelets
- Application Outlook (Volume Tons, Revenue, USD Million; 2018–2028)
- Energy Storage & Harvesting
- Paints and Coatings
- End-Use Outlook (Volume Tons, Revenue, USD Million; 2018–2028)
- Electronics & Telecommunication
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- Regional Outlook (Volume Tons, Revenue, USD Million; 2018–2028)
- North America
g. Rest of Europe
- Asia Pacific
d. South Korea
e. Rest of APAC
- Latin America
b. Rest of LATAM
- Middle East & Africa
a. Saudi Arabia
c. South Africa
e. Rest of MEA
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