Global Graphene Market Size Booming at Significant CAGRs to Touch Value of USD 3.9 Billion and Volume of 3.12 Million Metric Tons by 2030

Published | 14 March 2024

Global Graphene Market is flourishing due to the growing demand for graphene in the electronics, composites, and energy storage industries, and increasing adoption of advancements in material science.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Graphene Market size by value at USD 1.02 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Global Graphene Market size to expand at a CAGR of 8.32% reaching a value of USD 3.89 billion by 2030. The Global Graphene Market is propelled by the increasing electronics sector in emerging economies and the rising integration of graphene in composite applications. Also, a noteworthy surge is forecast, driven by escalating demand from research institutes and multinational corporations engaged in extensive research and development activities. The electronics sector stands out as a crucial catalyst for the market's growth. Within the electronics industry, the product plays a vital role in diverse applications, including batteries, capacitors, solar cells, computers, microchips, smartphones, and laptops.

By volume, BlueWeave estimated the Global Graphene Market size at 1.56 million metric tons in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Global Graphene Market size by volume is projected to grow at a CAGR of 12.25% reaching the volume of 3.12 million metric tons by 2030. Graphene’s popularity in electronics is attributed to its outstanding characteristics such as electrical conductivity, thermal conductivity, lightweight nature, and mechanical durability, rendering it suitable for managing high voltages. These distinctive properties position it as a highly significant material in the electronics domain, with expectations that it will serve as a seamless substitute for carbon nanotubes and silicon across various applications.

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Graphene functions as a highly responsive chemical sensor in electrolyte-gated arrangements, and its top-gate insulators, based on graphene, can be manufactured with a thickness ranging from 1 to 5 nm within an electrolyte at a concentration of a few millimolar. This capability outperforms the top-gate Field-Effect Transistors (FETs) utilizing Atomic Layer Deposition (ALD). In the realm of photoelectric sensors, the market closely resembles substitutes for indium-tin-oxide (ITO) in transparent conductors. The combination of high electrical conductivity and transparency in graphene makes it an attractive option for creating transparent electrodes in photovoltaic cells and photoconductive sensors.

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Impact of Escalating Geopolitical Tensions on Global Graphene Market

Geopolitical tensions can have a multifaceted impact on the Global Graphene Market. The conflict arising from Russia's invasion of Ukraine has disrupted graphite production in Ukraine, a significant contributor to the global graphene market. With Ukraine being among the top five countries in graphite reserves, the war has forced the suspension of operations at key mines, hindering the global supply chain. Despite Ukraine's potential to reduce global reliance on China for graphite, the ongoing conflict poses challenges for the development of its graphite deposits. As the war persists, issues like supply chain disruptions, production halts, and transportation difficulties become prevalent, emphasizing the critical need for long-term supply security in the graphene industry.

Global Graphene Market

Segmental Information 

Global Graphene Market – By End User

Based on end user, the Global Graphene Market is divided into Automotive & Transportation, Aerospace, Electronics, Military & Defense, and Construction segments. The automotive & transportation segment holds the highest share in the Global Graphene Market by end user. The segment stands as one of the rapidly advancing industries globally, driven by the increasing disposable income and enhanced purchasing power of the middle-income populace in emerging economies. With projections indicating growth in the global automotive industry in the coming years, there is a parallel anticipation of a swift surge in demand for graphene and its derivative products over the forecast period.

 Global Graphene Market – By Region

The in-depth research report on the Global Graphene Market covers the market in a number of major countries across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific region holds the highest share of the Global Graphene Market and is expected to maintain its dominance during the forecast period. It can be attributed to its significant concentration of manufacturers and consumers. The region's graphene industry is poised for growth, driven by escalating production volumes in sectors like automobile, marine, defense, and aerospace. China, in particular, is anticipated to establish itself as a key market, benefiting from robust government support for manufacturing sector investments. The government's proactive policies, emphasizing support for graphene research and development, contribute to the positive outlook for the industry over the forecast period.

Competitive Landscape

The Global Graphene Market is fragmented, with numerous players serving the market. The key players dominating the Global Graphene Market include NanoXplore Inc., Graphenea SA, Avanzare Innovacion Tecnologica S.L., Global Graphene Group, Directa Plus S.p.A., Haydale Graphene Industries Plc, The Sixth Element (Changzhou) Materials Technology Co.,Ltd, Ningbo Morsh Technology Co., Ltd, Nanjing XFNANO Materials Co., Ltd, Xiamen Knano Graphene Technology Corporation Limited, Nanjing JCNano, ACS Material, Elcora Advanced Materials Corp., First Graphene, Grafoid Inc., Graphenano Group, and Graphene Manufacturing Group. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.

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The report's in-depth analysis provides information about growth potential, upcoming trends, and the Global Graphene Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Graphene Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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