Graphene Market Worth $1,479 Million by 2025: MarketsandMarkets

According to a new MarketsandMarkets research report, “Graphene Market by Type (Bulk, Mono-layer), Application (Composites, Paints, Energy Storage, Electronics, Catalyst and Tire) , End-use Industry (Automotive, Aerospace, Electronics, Military and Construction) and Region – Global Forecast to 2025,” the global graphene market size is expected to grow from $620 million in 2020 to $1,479 million by 2025, at a CAGR of 19% during the forecast period.

Graphene is extensively being used in the automotive and transportation, aerospace, electronics, military and defense and other end-use industries. The increasing use of graphene-based composites materials in the automotive and transportation end-use industry is expected to drive the demand.

Bulk graphene type of includes graphene nanoplatelets (GNPs), graphene oxide, reduced graphene oxide, and other forms of graphene. Graphene oxide is an oxidized form of graphene available in powder and dispersion forms. So, when deposited on any substrate, it can easily be converted into a conductor, making it feasible for the production of transparent conductive films, chemical sensors, flexible electronics, and touch screens.

The low cost and ease of production make graphene oxide a preferred graphene type in major applications such as rust-free coatings and flexible composite materials. Graphene nanoplatelets (GNP) are available in flakes and layers of graphite that are prepared depending on the requirements of end users.

GNPs are widely used in ink formulation, conductive inks, printed electronics, coatings, energy storage, nanocomposite materials, and lithium-ion (Li-ion) batteries, and other applications, as they are lightweight and have a long life-span. They are also heat resistant and cost-effective.

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.

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 Korea, India, and Australia are contributing to the growth of the regional market.