Graphene Market to Grow by USD 1.84 Billion (2024-2028), Growing Use in Construction Industry Boosting the Market, with Market Evolution Powered by AI - Technavio

NEW YORK, Jan. 30, 2025 /PRNewswire/ -- Report on how AI is driving market transformation - The global graphene market size is estimated to grow by USD 1.84 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 47.85% during the forecast period. Growing use of graphene in construction industry is driving market growth, with a trend towards growing use of graphene in medical sector. However, problems associated with graphene production poses a challenge. Key market players include 2D Carbon Graphene Material Co. Ltd., ACS Material, Advanced Graphene Products SA, Applied Graphene Materials PLC, CVD Equipment Corp., Directa Plus PLC, First Graphene Ltd, G6 MATERIALS Corp, Global Graphene Group Inc., Grafoid Inc., Graphene Platform Corp., Grolltex Inc., Haydale Graphene Industries plc, Nanograf Corp., NanoXplore Inc., Thomas Swan and Co. Ltd., Vorbeck Materials Corp., and XG Sciences Inc..

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Market Driver

Graphene, the wonder material, is making waves in various industries due to its unique properties. In the automotive and transportation sectors, graphene composites are being used to enhance mechanical strength and flexibility in tires, while improving the conductivity of electrical components. The industrial production of monolayer and bulk graphene is on the rise, with applications in aerospace, military, and defense industries. Fake graphene is a concern in the market, emphasizing the importance of quality testing. In the electronics sector, graphene is used in energy storage, harvesting, and semiconductors due to its high electrical and thermal conductivity. The energy sector benefits from graphene's lightweight nature and high energy density in batteries and capacitors. Graphene is also being explored in the production of paints, coatings, and inks, offering antibacterial and antiviral efficacy. In the logistics sector, graphene nanomaterials are used as raw materials in various industries, including chemicals, medical devices, and solar panels. Government research institutes are investing in nanotechnology research to explore graphene's potential in carbon-based structures, biomedical technologies, and wastewater treatment. The future of graphene lies in its applications in electronics, energy, and various industries, including drones, helicopters, planes, and spaceship manufacturing. 

Graphene, a single layer of carbon atoms, holds significant potential in the medical field. With approximately 10 million deaths worldwide in 2020 due to cancer according to the World Health Organization, research focuses on graphene's application in cancer treatment. Patients receive chemically altered graphene particles that adhere to cancer cells, enhancing the effectiveness of radiological treatments. Infrared light absorption by graphene reduces tumor size with fewer side effects, making it a promising solution in cancer therapy research. Biomedical research has filed numerous patents for graphene's use in drug delivery, DNA sequencing, and medical devices, underscoring its importance in the healthcare industry. 

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Market Challenges

• Graphene, a wonder material made of a single layer of carbon atoms, holds great promise for various industries, including industrial automotive and transportation. However, challenges persist in producing high-quality bulk graphene and monolayer graphene for composites in these sectors. The market is plagued with issues of fake graphene and the need for rigorous quality testing. In the fields of paints, coatings, inks, energy storage, harvesting, and electronics, graphene offers superior mechanical properties, flexibility, conductivity, and antibacterial/antiviral efficacy. For energy applications, graphene is used in batteries, capacitors, and lithium technology. In the electronics sector, it's used in field-effect transistors (FETs), photodetectors, and solar cells. Graphene's lightweight nature and high electrical and thermal conductivity make it ideal for aerospace, military and defense, drones, helicopters, planes, and spaceship manufacturing. In the automotive industry, it's used in tires and touchscreen technologies. Government research institutes and nanotechnology companies are investing in graphene nanomaterials (GFN) for medical devices, conductive inks, and energy solutions. Graphene oxide and reduced graphene oxide are used in the medical industry, wastewater treatment, and biomedical technologies. Despite its advantages, graphene faces competition from carbon nanotubes and silicon in some applications. The market for graphene is expected to grow significantly in the coming years, driven by research and development in the energy and power, electrical and electronics, rubber, chemicals, and logistics sectors.
• Manufacturing high-quality graphene on a large scale at a low cost is a significant challenge for businesses. Impurities and defects in graphene negatively impact its electronic and optical properties. To produce single-crystalline graphene thin films with superior optical transparency and high electrical and thermal conductivities, the Chemical Vapor Deposition (CVD) process is essential. This method allows for the creation of larger samples, addressing the primary barrier to commercializing high-quality graphene for electronic applications.

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Segment Overview 

This graphene market report extensively covers market segmentation by

1. Product 
• 1.1 Graphene nanoplatelets
• 1.2 Graphene oxide
• 1.3 Reduced graphene oxide
• 1.4 Others
2. End-user 
• 2.1 Electronics
• 2.2 Energy
• 2.3 Composites
• 2.4 Automotive
• 2.5 Others
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Graphene nanoplatelets- Graphene nanoplatelets (GNPs) are two-dimensional carbon materials with desirable properties such as high electrical and thermal conductivity, strength, and a large specific surface area. These properties make GNPs valuable for creating composite materials, which are in high demand in various industries. In the automotive and aviation sectors, GNP composites lighten objects and increase fuel efficiency. In the construction sector, they enhance mechanical properties and reduce gas permeability. In power and energy applications, GNPs improve the resilience, efficiency, and capacity of power systems at a relatively low cost. They are used in electrodes, batteries, and supercapacitors due to the rising demand for lightweight, high-power consumer electronics and hybrid vehicles. Additionally, GNP-based inks and coatings exhibit excellent electrical and thermal characteristics, finding applications in products such as printed electronics, RFID tags, heat sinks, smart labels, and packaging. The wide range of applications for GNPs is expected to drive the growth of the graphene nanoplatelets segment in the global graphene market.

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Research Analysis

Graphene, a wonder material and a single layer of carbon atoms arranged in a hexagonal lattice, is revolutionizing various industries with its exceptional mechanical properties, flexibility, and conductivity. In the industrial and automotive sector, graphene is being explored for use in composites, coatings, and transportation applications due to its enhanced strength and lightweight nature. The transportation industry is exploring the use of graphene in drones, helicopters, planes, and even spaceship manufacturing for improved performance and fuel efficiency. In the realm of energy, graphene is being used in batteries, fuel cells, and solar cells for enhanced capacity and conductivity. In the medical industry, graphene is being used in biomedical technologies, including biosensors, drug delivery systems, and tissue engineering. Graphene oxide, graphene nanoplatelets, and reduced graphene oxide are also being used in wastewater treatment, energy storage, and as alternatives to carbon nanotubes and silicon in various applications. The market for graphene is vast and growing, with applications ranging from coatings to composites, and from biomedical technologies to energy storage. However, the market is not without challenges, with the need for quality testing to combat the issue of fake graphene and ensure the production of high-quality monolayer and bulk graphene.

Market Research Overview

Graphene, a wonder material and carbon allotrope, is revolutionizing various industries with its unique mechanical properties, flexibility, conductivity, and lightweight nature. It's making waves in the industrial automotive and transportation sectors for its use in composites, tires, and aerospace applications. In the electronics sector, it's being used in Energy Storage, Harvesting, and Electronics for catalysts, field-effect transistors (FETs), photodetectors, and more. The energy sector benefits from graphene in batteries, capacitors, and lithium technology. In the logistics industry, graphene is used as raw materials for chemical sensors, electrolyte-gated arrangements, and transparent conductors like Indium-tin-oxide (ITO). It's also used in paints, coatings, inks, and composites for protective equipment and drug delivery solutions. The medical industry uses graphene for medical devices, conductive inks, and wastewater treatment. Graphene's antibacterial and antiviral efficacy makes it a valuable asset in protective equipment and bio-sensors. Its use in the electronics sector includes applications in semiconductors, graphene foam, and solar cells. The aerospace, military, and defense industries use graphene in drones, helicopters, planes, and spaceship manufacturing. Graphene's high mobility, electrical and thermal conductivity, and mechanical strength make it a valuable resource for various industries. Its use in composites, paints, coatings, inks, and electronics is expanding rapidly, with ongoing research in nanotechnology and government research institutes. However, the market is also plagued by the issue of fake graphene, emphasizing the importance of quality testing and certification.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Graphene Nanoplatelets
• Graphene Oxide
• Reduced Graphene Oxide
• Others
• End-user
• Electronics
• Energy
• Composites
• Automotive
• Others
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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