In 2018, the global graphene market is 42.8 million US dollars, and the compound annual growth rate is expected to be 38.0% from 2019 to 2025.

It is expected that the demand for lightweight and durable materials for the manufacture of various components, including composite materials, will continue to increase over the next period of time, driving product demand. Graphene is the thinnest and strongest material in the world, with high thermal conductivity and electrical conductivity. These and other characteristics, including high permeability and high electron mobility, have led to great interest in this material and its applications.

The material is in the introductory phase of the product life cycle and is expected to witness significant developments in its application during the forecast period. The product is expected to achieve greater penetration in a variety of existing products including semiconductors, energy storage and power generation equipment, and sensors. Demand for graphene films is expected to increase due to the growing demand for protective coatings for smartphones and flexible electronic devices. This has led to an increase in the production capacity of graphene-based products over the past few years.

Due to its ability to increase strength and reduce weight, the composite is expected to witness the fastest growth in the next few years. These applications are extensive, including construction, automotive and aerospace. Research institutions and multinational companies have become one of the main sources of demand for products. They are involved in a wide range of research and development, utilizing and determining the scope of application of the product. Graphene nanosheets have the advantages of high electron mobility and high strength, and are expected to achieve rapid growth during the forecast period.

Product analysis

In 2018, graphene nanosheets accounted for 51.0% of the main market share. High electrical and thermal conductivity, strength and enhanced barrier properties may facilitate their use in polymeric materials such as composites, rubbers, thermoplastic elastomers, paints and coatings, and adhesives.

Due to the widespread use of graphene oxide in biomedical, solar cells, composites, batteries, supercapacitors and biosensors, it is expected to grow significantly in the coming period. The ability to chemically modify a product to enhance its performance, depending on the application, may present new opportunities for growth during the forecast period.

Application  analysis

Electronic products are the main application area, with a market share of 42.1% in 2018.

The graphene market is expected to see significant growth due to growing demand for optoelectronics, communications and defense electronics systems. Manufacturing activity in emerging markets such as China, India, Malaysia and Taiwan is increasing, and the electronics industry is expected to grow.

As a substitute for silicon, graphene is used more and more in various applications. Its applications include batteries, touch screen electrodes, transparent memory technology and other components of the electronics industry such as transistors.

The application of composite materials is expected to witness a compound annual growth rate based on revenue of 40.4% from 2018 to 2025. During this period, continued penetration of aviation, automotive and medical applications is expected to drive growth. Graphene is used together with metals, polymers, and ceramics to help enhance the electrical conductivity, heat resistance, and pressure resistance of the composite.

This material is also used for energy production and storage. Graphene coatings are used in a variety of batteries, conductors and generators to improve energy efficiency and overall performance of the equipment. It is also used to increase the energy conversion efficiency of solar cells.

 

Regional analysis

North America’s market share in 2018 was 32.8%, leading the way in revenue. The existence of many manufacturers with strong R&D capabilities is likely to develop new growth opportunities in the coming years. Demand in the Asia Pacific region is expected to show the fastest growth during the forecast period. The booming electronics industry has been a major factor driving demand for regional products. In addition, increased investment in the renewable energy generation sector is expected to increase demand significantly in the near future.

Given the government’s support for promoting manufacturing investment, China is expected to become a promising market for some time to come. The Chinese government has put forward strong policies to ensure support for research and development.

Graphene market share survey

New product development and cooperation agreements are key strategies adopted by manufacturers. Efforts must be made to develop new products and technologies to develop graphene at low cost and on an industrial scale. As price is one of the main constraints, manufacturers are increasingly investing in new technologies to reduce production costs. In addition, many manufacturers are working with other companies to develop new application opportunities for their products.