Graphene Market Overview:
“The global graphene market was valued at 1407.44 million in 2023 and is projected to reach USD 3,760.50 million by 2030, growing at a CAGR of 19.5% from 2023-2030.”
What exactly is graphene?
Graphene is the name given to one sheet (monolayer) sheet made of carbon atoms which are joined together in a arrangement of hexagons. The sheet is just 1 atom in thickness. Monolayers of graphene that are stacked over each other make graphite. Since the carbon atom is around 0.33 nanometers and there are 3 million graphene layers within a 1 millimeter thick layer of graphite.
In terms of science The unique graphene properties are due to the 2p orbitals that create the p state bands that shift around the carbon sheets that make up graphene.
Diamond is harder than diamond, but more flexible than rubber; more durable than steel, yet lighter than aluminum. Graphene is the most durable known material.
For a better understanding To put this in perspective: if a single sheet of Cling film (like kitchen wrap film) was as strong like a single, pure sheet of graphene it will have to be able to withstand the force generated by an imposing mass of 2,000kg or the weight of a automobile, to cut it open by the sharp end of a pencil.
Due to the unique structure of graphene it has other remarkable properties: Its high electron mobility is 100x more than silicon; it carries heat two times better than diamond. Its electrical conductivity is 13x higher than copper, and it reflects just 2.3 percent of light reflecting and is obstructive to the point that even the small element (helium) can't penetrate the unilayer graphene sheet without defects and its large density of 2630 sq m per gram implies that in just 3g, you can cover an whole soccer pitch (well in reality, you'd require 6 grams since 2,630 m2/g represents the surface space for both sides of the graphene sheet).
Graphene is a brand new conceptual category of materials that are just one atom thick. known as Two-dimensional (2D) materials (they are known as 2D due to the fact that they have only two dimensions, width and length; since the material is just one atom wide, its other dimension that is height, is thought in the form of zero). It is at this one-layer or few-layer state do graphene's incredible properties are evident.
Graphene is the fundamental element that forms the basis of other graphitic materials, such as carbon nanotubes.
Graphene is 200 times stronger than steel, 200 times lighter than air, a good conductor of electricity, and fire-resistant. Graphene is also valued as a powerful catalyst in the chemical industry due to attributes including its high surface area and adsorption capacity.
The carbon allotrope known as graphene is a thin layer of carbon made up of a single layer of atoms organized in a hexagonal lattice nanostructure. Given that the carbon allotrope found in graphite contains a lot of double bonds, the word "graphite" and the suffix "-ene" were chosen to represent this.
Each atom in a graphene sheet forms a strong -bond with its three closest neighbors, adding one electron to the sheet's overall valence band. The same kind of bonding is present in glassy carbon, fullerenes, polycyclic aromatic hydrocarbons, carbon nanotubes, and (partially) polycyclic aromatic hydrocarbons.
Graphene is a semimetal with peculiar electrical characteristics that are best explained by theories for massless relativistic particles due to the valence band being touched by a conduction band. The energy-to-momentum relationship of charge carriers in graphene is linear rather than quadratic, and the material can be used to create field-effect transistors with bipolar conduction.
Due to its extremely high tensile strength, electrical conductivity, transparency, and status as the world's thinnest two-dimensional material, graphene has emerged as a valued and practical nanomaterial.
Graphene had a USD 9 million global market in 2012, with the majority of that demand coming from research and development in semiconductors, electronics, electric batteries, and composites. Also, due to its outstanding mechanical, electrical, and thermal properties, graphene can be used in a broad variety of ways. In addition to numerous other applications, it is employed in electronics, energy storage, sensors, coatings, composites, and medicinal devices.
Demand Outlook
Private and public businesses are investing heavily in making products more attractive and simplifying the process of manufacturing. For example In February 2022 the Kerala government created a joint venture with Tata Steel Limited and Digital University of Kerala, Centre for Materials for Electronics Technology (C-MET) to develop the concept of a graphene-based innovation center. The estimated cost for the project is close to $10 million dollars.
In addition graphene's market is mostly driven by electronics companies due to its remarkable properties, including excellent conduction of heat and electrical energy as well as high electron mobility the ability to permeabilize, as well as heat resistance. This product is able to create technologically advanced equipment in line with the changing requirements of the customer. The growth indicators of the semiconductor and electronics industry will boost demand because it is widely used in laptop and mobile phone computers.
Costs of raw materials that are high and complex manufacturing processes because of the large equipment and machinery employed to manufacture graphene-based products are the main factors believed to limit the graphene market growth in the near future. Bottom-up and top down are the principal manufacturing processes for graphene.
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Market Dynamics
Growth Drivers
Rapid industrialization
The rapid industrialization of the world and the rising demand for flexible, light and renewable materials are the main reasons behind the market's expansion. Furthermore, the incorporation of nanotechnology in the electronics industry is helping boost the growth of the market. Nanoplatelets made of graphene can be used to enhance the properties and physical characteristics of thermoplastics and thermoset composites. They include synthetic and natural rubber paints, coatings, and elastomers, in addition to other polymer substances. Graphene films are now being utilized to form protective coatings for electrical devices and batteries and smartphones, driving market growth.
A growing demand for printed electronic devices
A growing need of printed electronic components is predicted to boost demand for printed electronics in the near future. Semi-conductive or conductive inks are the primary component of printed electronics. The graphene-based inks offer a faster speed of printing, which has led to the increase in concentration on graphene-based printing inks used for printing electronics, which has been one of the graphene's main applications.
Restraints
The dangers of graphene
Over the next few years the toxic nature of graphene as well as the dangers associated with the process of producing graphene is expected to limit the growth of the graphene market globally.
Opportunities
R&D and Development (R&D) activities
The market is anticipated to expand due to the intensive studies and research (R&D) processes to enhance the thermal and electrical conductivity properties of graphene and the wide use of graphene in manufacturing of sports equipment that is lightweight.
Exclusive features
Graphene is the tiniest and strongest material, boasting incredible electrical and thermal conductivity. These characteristics, along with others such as the high permeability and electron mobility have sparked lots of curiosity about this material and its possible applications. The material is in the beginning phases of its life and is anticipated to increase in value over the coming years as it is preparing to join the world of graphene.
Challenges
Cost of production is high.
The limitations that limit the growth of the graphene industry is the high price of production, technical restrictions when it comes to the production commercial goods, and the health and environmental concerns that come in the production of 2D graphene, because of its non-flammable property.
Insufficient commercial production
Diverse factors, including the inability of consumers to be aware and commercial production as well as the limited scope of application could hinder the development of the graphene industry globally.
Graphene Market Segment Analysis:
Based on type, application, end user, and region, the global market for graphene is divided into these categories.
Graphene comes in a variety of forms, including mono- and bi-layer, few-layer, graphene oxide, and graphene nanoplatelets (GNP). The reciprocal lattice and generating base vectors of monolayer and bilayer graphene are identical. There is no space between the conduction and valence bands in monolayer graphene. While the lattice structure of bilayer graphene includes two comparable planes.
Carbon atoms are densely packed into a hexagonal honeycomb lattice to form a single layer, or monolayer, to form graphene. It is an allotrope of carbon with a molecular bond length of 0.142 nanometers and takes the shape of a plane of sp2-bonded atoms. Bilayer graphene is a substance made up of two graphene layers. In the landmark 2004 Science study by Geim and colleagues, they disclosed devices "which contained just one, two, or three atomic layers," which was one of the earliest descriptions of bilayer graphene.
By electrochemically intercalating and exfoliating extended graphite (EG) in a sulfuric acid electrolyte, Few Layer Graphene (FLG) was created. An electrochemical electrode constructed from EG was pressed into a plate. One monomolecular layer of graphite with multiple oxygen-containing functions, including epoxide, carbonyl, carboxyl, and hydroxyl groups, makes up the unusual substance known as graphene oxide (GO).
Graphene Nano Platelets (GNP) Electrical conductivity, thermal conductivity, mechanical reinforcement, and gas barrier layers are the main characteristics of GNPs. The manufacturing processes used to make GNP can affect its characteristics.
The graphene market is segmented by application into Tyres, Coatings, Functional Ink, Polymer Additives, Research & Development, Radio Frequency Identification (RFID), Composites, Sensors, and Energy Storage. Tags and readers are the two halves of the wireless system known as Radio Frequency Identification (RFID).
The reader is an electronic gadget with one or more antennas that transmit radio waves and take in signals from RFID tags. To improve a range of mechanical qualities in composites, such as electrical and thermal conductivity, durability, flexibility, stiffness, UV resistance, weight reduction, and fire resistance, graphene is frequently utilized as an addition in resin matrices and other materials.
For sensors, graphene is the perfect material. Graphene can detect changes in its surroundings due to every atom is exposed to its surroundings. The objective of chemical sensors is to be able to recognize just one molecule of potentially harmful material.
Automotive, Aerospace, Electronics, Military, and Construction are the end-use of the graphene Market. The graphene market's largest application industry in terms of volume is the automotive and transportation sector. The automotive sector has many uses for graphene, including tires, anti-breaking systems, car batteries, and composite structural components.
The graphene market is anticipated to be driven throughout the anticipated period by the rising demand from these applications. In the aerospace industry, Space elevators launch astronauts and spacecraft into orbit without using any fuel. lighter helicopters and airplanes that are strong and radar-invisible. These are just a few of the amazing uses for graphene, the wonder material created from a single layer of carbon atoms, in the aerospace industry.
While in the Military and Construction industry due to it being strong, much more flexible than steel, and having the ability to store energy, graphene is an excellent material for military body armor. power production. Batteries in radios and other devices that need a quick charge or replacement can benefit from graphene.
In the construction industry, the use of graphene-based materials is highlighted in a variety of building supplies, including cement, anti-corrosion coatings, thermal and acoustic insulators, asphalt, and firefighting supplies. Building materials have increased sturdiness, mechanical strength, hardness, and flexibility when graphene is added.
Competitive Landscape of the Graphene Market
The major players operating in the global Graphene industry include the major market players are ACS Material Llc, Bluestone Global Tech, CVD Equipment Corporation, Graphene Nanochem Plc, Graphenea S.A., G6 Materials, Haydale Limited, Nanotek Instruments, Inc., Vorbeck Materials, Xg Sciences, Avanzare Innovacion Tecnologica S.L., Jcnano Tech Co., Ltd.
Recent Developments in Graphene Masrket
October 26, 2023: HydroGraph Clean Power Inc. Revolutionizes Graphene Production, Offers Sustainable Alternative Amidst China's Graphite Export Restrictions
October 20, 2023: Researchers demonstrate a high-speed electrical readout method for graphene nanodevices {Source- Tohoku University}
27 September 2022: CVD Equipment Corporation (NASDAQ: CVV), a leading provider of chemical vapor deposition systems and materials (the “Company”), agreement to sell and lease back it’s Central Islip, New York facility (the “Premises”) from the prospective purchasers.
14 July 2020: CVD, Dymax & Keyence Collaborate to Accelerate ECMO Development.
Regional Insights
APAC is anticipated to have the highest CAGR in terms of value in the worldwide graphene market. The region's growing R&D activities and the region's expanding demand from the automotive, transportation, and electronics end-use industries are what are fueling the market's expansion. The economic potential in the APAC area is unlike anything else ever witnessed due to it combining both emerging markets and developed economies.
Favorable government policies, investments, and research will accelerate market expansion in the Asia Pacific. Additionally, the Asia Pacific region's market is anticipated to be driven by the presence of significant manufacturers and customers as well as the increase in output across a number of sectors, including the automotive, defense, marine, and aerospace industries. As a result, Asia Pacific results in a growing market.
It is estimated that the North American market is estimated to grow significantly due to the growing demand from energy and aerospace industries, as well as an increased demand for high-quality green, robust, sustainable and lightweight products which is driving market expansion across the region. The growing use of GO in solar cells for improved performance could also boost revenue.
Markets in Europe is expected to experience an impressive growth rate, and will likely to continue to lead in the coming years due to increased investments into R&D activities.
Latin America is predicted to see an exponential increase in the forecast time frame due to the application for GO within a broad spectrum of applications transistors semiconductors, capacitors, and sensors.
The Middle East & Africa market is expected to show an average growth rate over the forecast time. The market for automotive industry for items, such as graphene-based battery systems for anti-crash vehicles tires, and so on is increasing because of its superior properties like electric conductivity, strength of tensile as well as thermal conductivity.
Segments Covered in the Graphene Market
Graphene Market by Type
- Mono Layer & Bi Layer Graphene
- Few Layer Graphene (FLG)
- Graphene Oxide (GO)
- Graphene Nano Platelets (GNP)
Graphene Market by Application
- Radio Frequency Identification (RFID)
- Composites
- Sensors
- Research & Development
- Energy storage
- Functional ink
- Polymer additives
- Tire
- Coatings
Graphene Market by End User
- Automotive
- Aerospace
- Electronics
- Military and Construction
Graphene Market by Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Frequently asked questions with answers
What is the Size of the global graphene market?
The global graphene market was valued at 1407.44 million in 2023 and is projected to reach USD 3,760.50 million by 2030, growing at a CAGR of 19.5% from 2023-2030.
Which market segments are covered in the report on the graphene market?
Based on type, application, end user, and region the graphene market reports divisions are broken down.
Which are the top companies to hold the market share in the graphene market?
Key players profiled in the report include ACS Material Llc, Bluestone Global Tech, CVD Equipment Corporation, Graphene Nanochem Plc, Graphenea S.A., G6 Materials, Haydale Limited, Nanotek Instruments, Inc., Vorbeck Materials, Xg Sciences, Avanzare Innovacion Tecnologica S.L., Jcnano Tech Co., Ltd., And Others
Which is the largest regional market for the graphene market?
APAC is anticipated to have the highest CAGR in terms of value in the worldwide graphene market. The region's growing R&D activities and the region's expanding demand from the automotive, transportation, and electronics end-use industries are what are fueling the market's expansion.
