Report Overview

Vietnam graphene market is growing at a high rate because of the extensive adoption of renewable energy sources such as wind energy, solar power and biomass, along with flourishing construction activities in Vietnam for infrastructural development.

Vietnam Graphene Market- Industry Trends & Forecast Report 2027

The Vietnam graphene market is anticipated to grow at the CAGR of 18.2% in the forecast period. The market’s growth is mainly attributed to the extensive adoption of renewable energy sources such as wind energy, solar power, and biomass, and the flourishing construction activities in Vietnam for infrastructural development such as sports activities and entertainment centers. Furthermore, expanding graphene application in various other industries such as automobile, paints and coatings, etc., is also driving the growth of the Vietnam graphene market.

Vietnam Graphene Market- Overview

Graphene is a carbon allotrope that consists of a one-atom-thick sheet of carbon atoms stacked in a hexagonal arrangement. It is gaining huge popularity because of its remarkable strength and characteristics. Graphene is 200 times stronger than steel and has a high heat and electricity conductivity. Furthermore, this material has a high absorption coefficient for all visible wavelengths. As a result, it is widely employed in a variety of applications such as anti-corrosion coatings and paints, efficient and precise sensors, electronics, flexible displays, solar panels, and so on.

Vietnam Graphene Market Forecast and Trends

Growth Drivers

Expanding Investment in The Renewable Energy Sources

Vietnam is one of the leading countries that exploit all big sources of renewable energy such as hydroelectricity, wind, solar, biomass. Graphene is prominently used in manufacturing batteries to enhance power conversion efficiency. Graphene batteries can enhance charge-discharge cycling performance as well as overall capacity. With expanding commercial as well as residential adoption of renewable energy sources such as solar energy, the demand for graphene-produced batteries is projected to surge in the country, propelling the overall growth of Vietnam graphene market.

Increasing Construction Activities in Vietnam

The construction industry in Vietnam was able to grow despite the global slowdown brought by the COVID-19 pandemic. Due to this, the demand for graphene in Vietnam was consistent, which contributed to overall market growth. Graphene is prominently used in providing waterproof layers for construction. Graphene, when used as an addition in concrete, can also boost strength and reduce the clinker factor in cement, hence lowering the carbon impact. As a result, increased building activities for infrastructural development in Vietnam are likely to drive the market during the forecast period.

Restraints

Negative Influence of Graphene on The Environment

The negative impact on the environment is one of the primary concerns for the expansion of the graphene market in Vietnam. Many studies have indicated that graphene is a possible hazard for the environment since graphene oxide nanoparticles can spread swiftly via surface water, causing harm to plants, animals, and humans when it enters a lake or river. Its razor-sharp nanoparticles are capable of easily piercing cell membranes in human lungs, skin, and immune cells, inflicting severe damage.

Impact of COVID-19 on Vietnam Graphene Market

The sudden outbreak of the COVID-19 pandemic has had mixed effects on the Vietnam graphene market. Vietnam responded quickly to the seriousness of COVID-19 spread by enacting stringent social distancing measures and mobility limitations. However, as a result of labor scarcity, smooth operations in many graphene end-users’ sectors have been hampered. Consequently, the demand for graphene decreased, significantly hurting the market. However, because graphene is widely used in the production of COVID-19 masks, the graphene market is predicted to witness enormous growth options in the post-COVID-19 period. For instance, different types of research studies are being conducted for the development of COVID-19-therapy medical devices that entail the usage of graphene face masks.

Vietnam Graphene Market - By Type

Based on types, the Vietnam graphene market is segmented into graphene oxide, graphene nanoplatelets, and others. The graphene nanoplatelets segment accounts for the largest market share as this type of material is mainly used in paints and coatings to produce light-weighted products. The prominent use of graphene nanoplatelets in the construction industry for providing strength, surface hardness, and stiffness to the infrastructures is favoring the graphene market in Vietnam. However, graphene oxide is also growing at a substantial rate because of its application in solar cells.

Vietnam Graphene Market - By Application

Based on applications, the Vietnam graphene market is segmented into composites, energy harvesting & storage, paints, coatings & inks, electronics, catalyst, tires, and others. Because of the increased development of residential and commercial buildings, the paints segment accounts for the largest market share. Graphene is utilized in paints to provide long-lasting, crack- and water-resistant coatings. Furthermore, as an antioxidant, scratch resistant, and UVA blocker, graphene creates a robust barrier. Such advantages are considerably fueling graphene's growing demand in painting applications.

Vietnam Graphene Market - By End-User

Based on end-users, the Vietnam graphene market is grouped into automotive & transportation, aerospace, electronics, military & defense, construction, and others. The construction sector accounts for the lion's share of the market, as Vietnam invests heavily in various infrastructure development projects, fueling demand for graphene in the country. In the construction sector, Vietnam is emerging as the best-performing country in the APAC area. Additionally, graphene is widely employed in the production of lightweight composite materials, which is fueling its demand in the country.

Vietnam Graphene Market: Competitive Landscape

The leading players in the Vietnam graphene market are VNGraphene, Graphenel JSC, Wipo, Nanowerk, Graphene Life, Hop Nhat Science Company Ltd., CAO NGHE CAO CO., Ltd., Intelligence Joint Stock Company, RU9 Co. Ltd., and other prominent players.

The market is highly fragmented due to the presence of several industry participants. However, new entrants have huge growth potential as the Vietnamese graphene market is still flourishing. The market players focus on strengthening their distribution and supply chain to increase their product penetration among small and medium-sized businesses. They are also investing significantly in R&D activities to improve their graphene product quality. Furthermore, the adoption of competitive strategies like partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.

Recent Developments

• In June 2021, the research team from Ho Chi Minh City University of Technology announced to have successfully developed a new face mask made from graphene oxide and Nano Silver, which is designed specifically for the COVID-19 pandemic.
• In February 2019, Urbix Resources, an American battery anode materials manufacturer, announced its plans to work with the Hanoi-based Vietnam Graphite group to build a 70,000-tonne purification plant in Vietnam.

Scope of the Report

By Type

• Graphene Oxide
• Graphene Nanoplatelets (GNP)
• Others

By Application

• Composites
• Energy Harvesting & Storage
• Paints, Coatings & Inks
• Electronics
• Catalyst
• Tire
• Other

By End-Users

• Automotive & Transportation
• Aerospace
• Electronics
• Military & Defense
• Construction
• Others