According to a research report “Graphene Market by Type (Bulk, Monolayer), Application (Composites, Paints, Energy Storage, Electronics, Catalyst and Tire) , End-use Industry (Automotive, Aerospace, Electronics, Military and Construction) and Region – Global Forecast to 2025″, published by MarketsandMarkets, the global graphene market size is expected to grow from USD 620 million in 2020 to USD 1,479 million by 2025, at a CAGR of 19.0% during the forecast period. Graphene is extensively being used in the automotive & transportation, aerospace, electronics, military & defense and other end-use industries. The increasing use of graphene-based composites materials in the automotive & transportation end-use industry is expected to drive the demand.
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- 168 Market data Tables
- 31 Figures
- 199 Pages and in-depth TOC on “Graphene Market- Global Forecast to 2025″
Some of the prominent key players are:
· NanoXplore Inc. (US)
· Graphenea SA (Spain)
· Avanzare Innovacion Tecnologica S.L. (Spain)
· Global Graphene Group (US)
· Directa Plus S.p.A. (Italy)
· Haydale Graphene Industries Plc (Italy)
· Changzhou Sixth Element Materials Technology Co., Ltd. (China)
· Ningbo Morsh Technology Co., Ltd. (China)
· Nanjing XFNANO Materials Co., Ltd.
· Xiamen Knano Graphene Technology Corporation Limited, (China)
· JCNANO Tech Co., Ltd. (China)
Driver: Increasing demand from the automotive & transportation end-use industry to drive the demand for graphene
The composite application segment held the largest share in the graphene market in 2019. This high share is owing to the established applications of graphene in composite components. Weight reduction is a major challenge in various end-use industries such as aerospace, automotive, and sporting goods. Graphene enhances the conductivity and strength of composite materials while maintaining their flexibility. Graphene-based composites are used in various end-use industries such as aerospace, automotive & transportation, medical implants, sports equipment, and among others. These industries are expected to drive the demand for graphene in the future.
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The automotive & transportation end-use industry accounted for the largest market share in the global graphene market during the forecast period in terms of value and volume.
Graphene has various applications in the automotive industry. It is mostly used as additives. When mixed with rubber, it increases both durability and grip of tires. Graphene can be used as additive in composites for making body panels. It increases the structural properties of composites to make body part stronger and lighter, also can help in increasing mechanical as well as thermal performance of vehicles. As the automotive industry is moving towards e-mobility and looking to reduce vehicle weight and increase the performance of batteries, graphene plays an important role in achieving these goals. These factors are expected to drive the graphene market in automotive & transportation end-use industry.
APAC is expected to account for the largest market share in the graphene market during the forecast period.
APAC accounted for the largest market share in the global graphene market in 2019. A number of graphene manufacturers in countries such as China, Japan, South Kora, India, and Australia are contributing to the growth of the regional market. These manufacturers are focusing on R&D activities in collaborations with various research institutes and universities for the development of graphene products. APAC has the highest number of manufacturers of automotive vehicles, electric batteries, and electronics components; these are the major applications where graphene is used. The presence of major end-use industries drives the graphene market in the APAC region.