by Graphene is an allotrope form of carbon in a two-dimensional, atomic-scale, hexagonal lattice. It is the strongest material ever tested and can be over 100x times stronger than steel while being only one atom thick. Due to its excellent electrical conductivity, thermal conductivity and other properties, graphene is finding numerous applications in electronics industry. Some key uses of graphene include touchscreens, flexible displays, wearable devices, Li-ion batteries and sensors. Graphene conducts heat and electricity efficiently and can enhance the performance of various electronic components like processors and memory. Its properties make graphene suitable to develop flexible, thin and lightweight electronic devices.
The global graphene market is estimated to be valued at US$ 723 million in 2024 and is expected to exhibit a CAGR of 19% over the forecast period 2024-2030.
Key Takeaways
Key players: Key players operating in the graphene market are GrapheneCA, Graphene Frontiers, XG Sciences, AMO, Graphene Square, Graphenea, Graphene Laboratories, Garmor, Applied Graphene Materials, and Vorbeck Materials. These players are investing heavily in R&D to develop new and innovative graphene applications for varied end-use industries.
Growing demand: Increasing demand for flexible and wearable electronic devices is a major factor driving the Graphene Market Demand Properties like flexibility and strength make graphene suitable for emerging applications like flexible displays. Graphene can enhance the battery life and charging capacity of portable electronic gadgets in high demand.
Global expansion: Leading graphene producers are expanding their presence globally to cater to the growing worldwide demand. For instance, Graphene Laboratories has collaboration with multiple research institutes and companies across North America, Europe and Asia. Similarly, GrapheneCA recently opened a new R&D hub in South Korea to accelerate product commercialization in the region.
Market Trends
One of the key trends gaining traction in the Graphene Market Companies is its increasing use in Li-ion battery technology. Graphene sheets added to battery anode and cathode materials have shown to significantly improve battery capacity and life. Battery manufacturers are actively exploring the potential of graphene for developing next-gen higher capacity batteries. OEMs like Samsung and Huawei have already started using graphene batteries in select smartphone models. Rising demand for electric vehicles and energy storage systems will further drive the use of graphene in advanced batteries over the coming years.
Porter’s Analysis
Threat of new entrants: The threat is moderate as graphene manufacturing process requires high capital expenditure but there are low costs associated with operations. The threat may increase as the industry matures.
Bargaining power of buyers: The buyers have moderate bargaining power due to the availability of substitutes like carbon nanotubes. However, graphene has superior physical properties which gives advantage over other substitutes.
Bargaining power of suppliers: Graphene manufacturers source raw materials like graphite from limited number of suppliers globally. This gives suppliers high bargaining power in the industry.
Threat of new substitutes: There exists threat of substitute materials like carbon nanotubes which offer similar properties. However, graphene provides better conductivity and strength which reduces threat of substitution.
Competitive rivalry: The industry has high competition due to presence of numerous global and regional players. Manufacturers compete on parameters like product pricing, quality and production.
Geographical regions: Currently, North America holds the largest share in the graphene market mainly due to extensive R&D and adoption in industries like electronics, aerospace and healthcare. Europe and Asia Pacific are also major markets.
Fastest growing region: Asia Pacific region is expected to be the fastest growing market during the forecast period owing to government initiatives and presence of emerging economies like China and India. Increasing electronics and automotive production in the region is contributing to the growth of graphene market.
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
