Graphene Market worth $2.94 billion by 2029 Globally, at a CAGR of 24.0 % says MarketsandMarkets™

/EIN News/ -- Delray Beach, FL, Dec. 19, 2024 (GLOBE NEWSWIRE) -- The Global Graphene Market size is expected to reach USD 2.94 billion by 2029 from USD 1.00 billion in 2024, at a CAGR of 24.0% from 2024 to 2029, as per the recent study by MarketsandMarkets™. During the forecast period, the global graphene market is expected to grow in the coming years, the demand for graphene and graphene-based materials is on the rise due to the growing need for the material in various applications across numerous industries. The applications of graphene are diverse and crucial in various industries including electronics, automotive & transportation, aerospace & defence, construction, and other industries. The market is also expected to benefit from technological advancements in graphene manufacturing processes.

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Browse in-depth TOC on “Graphene Market”.

358 - Market Data Tables
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295 - Pages

List of Key Players in Graphene Market:

• Graphenea S.A (Spain)
• First Graphene (Australia)
• NanoXplore Inc. (Canada)
• Avanzare Innovacion Technologica S.L. (Spain)
• Global Graphene Group (US)
• Directa Plus S.P.A (Italy)
• Haydale Graphene Industries Plc (UK)
• ACS Material (US)
• The Sixth Element (Changzhou) Materials Technology Co. Ltd. (China)
• Xiamen Knano Graphene Technology Co., Ltd. (China)
• Universal Matter, Inc. (Canada)

Drivers, Restraints, and Opportunities in Graphene Market:

• Driver:  Growing demand in key end-use industries.
• Restrain: Difficulty in mass production.
• Opportunity: Rising demand in energy storage applications due to exceptional properties.
• Challenge: Lack of standardization in graphene industry.

Key Findings of the Study:

• Bulk Graphene segment is expected to grow with highest CAGR in the Graphene Market during the forecasted period.
• Graphite is expected to have the largest share during the forecast period in terms of value.
• Composite application is expected to dominate the application segment during the forecast period in terms of value.

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Based on type, the graphene market has been segmented into bulk graphene and monolayer graphene. The demand for bulk graphene is growing rapidly due to its unique combination of extraordinary properties and potential applications across various industries. Graphene is one of the strongest known materials, yet incredibly lightweight. This makes it highly attractive for use in the aerospace, automotive, and construction industries, where strength and light weightiness are crucial.

Based on application, graphene market has been segmented into composite, energy harvesting & storage, paints, coatings & inks, electronics, and other applications. Other applications include membrane, tires, catalyst, biomedical segment, and photovoltaic cells. Composite segment held the largest market share, in terms of value in 2023. The higher contribution results from 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. These industries are expected to drive the demand for graphene in the future in composite applications.

Based on end-use industry, graphene market has been segmented into automotive & transportation, aerospace & defense, electronics, construction, and other end-use industries. Other end-use industries include membrane, tires, catalyst, biomedical segment, and photovoltaic cells. The automotive & transportation end-use industry held the largest share of the global graphene market in 2023. This significant share is due to the numerous applications of graphene in the automotive industry and the increasing demand for graphene-based products in electric vehicles. Graphene is preferred in this industry over other materials due to its exceptional properties such as high strength-to-weight ratio, enhanced performance, and durability.

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Based on Region, Asia Pacific accounted for the largest market share of the graphene market. The Asia Pacific market mainly includes China, Japan, India, South Korea, and Rest of Asia Pacific. Asia Pacific has the presence of leading graphene manufacturers, such as The Sixth Element (Changzhou) Materials Technology Co., Ltd. (China), Xiamen Knano Graphene Technology Co., Ltd. (China), Otto Chemie Pvt. Ltd. (India), and LHP Nanotechnologies LLP (India). These companies are responsible for several international collaborations and partnerships, contributing to a considerable regional market share in the global graphene market.

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