Graphene Market Growth Worth $2,863.17 Million By 2032,CAGR: 34.9%

Graphene Market Size Worth $2,863.17 Million By 2032 | CAGR: 34.9%

The global graphene market size is expected to reach USD 2,863.17 million by 2032, according to a new study by Polaris Market Research. The report “Graphene Market Share, Size, Trends, Industry Analysis Report, By Product (Graphene Nanoplatelets, Graphene Oxide, Reduce Graphene Oxide, Monolayer Graphene, and Others); By Application; By End-Use; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The growing utilization of graphene in the automotive and electronics & semiconductor industries for the development of lightweight components, conductive coatings, high-performance transistors, and flexible electronics is a primary factor boosting the market’s growth. Moreover, growing investments and funding from government as well as private institutions to support graphene-related projects and accelerate the development of new graphene applications will also foster market growth.

For instance, in November 2023, European Innovators announced the launch of the GRAPHERGIA Project to revolutionize energy harvesting in battery technology. The project is expected to transform Europe’s energy requirements by pioneering graphene applications in diverse upcoming technologies.

Graphene has emerged as a crucial material in the automotive industry over the years, as it has the potential to drive a significant number of advancements in the automotive industry, from strengthening the structural components to enhancing electrochemical energy storage. Thus, there are numerous projects globally researching the capabilities and benefits of graphene in automotive applications and how vehicles can be improved with them.

For instance, in October 2022, Graphene Flagship announced the G+BOARD, a project that aims to develop an innovative metal-free car dashboard that replaces the discrete functional elements with graphene-based materials.

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Furthermore, with the ever-rising demand for semiconductors across the globe to meet the requirements of electronic devices such as smartphones, tablets, laptops, appliances, and automobiles, researchers are increasingly focusing on the development of semiconductors from graphene that results in better electricity conductivity under specific conditions, making ways for chips that work in faster computers in future.

For instance, in January 2024, Researchers working at the Georgia Institute of Technology announced that they had developed the world’s 1st semiconductor made from graphene. The newly developed semiconductor allows for more mobility than silicon and enables transistors to work 10 times faster than Si-based transistors.

Graphene Market Report Highlights

  • The graphene oxide segment accounted for the largest share on account of its greater adoption due to thermal conductivity and tensile strength.
  • The electronic components segment held the majority share due to the increased usage of graphene to produce various electronic components
  • The medical segment will grow at the highest pace, which is accelerated by rising applications of these materials in drug delivery and biomedicals.
  • Asia Pacific dominated the global market, owing to a large number of product manufacturers and exponential rise in the automotive and electronics industry
  • The key market players include First Graphene, XG Sciences, NanoXplore Inc., Graphenea SA, Avanzare Innovation Tecnologica, and Graphite Central

Polaris Market Research has segmented the graphene market report based on product, application, end-use, and region:

Graphene, Product Outlook (Revenue - USD Million, 2019 - 2032)

  • Graphene Nanoplatelets
  • Graphene Oxide
  • Reduced Graphene Oxide
  • Monolayer Graphene
  • Others

Graphene, Application Outlook (Revenue - USD Million, 2019 - 2032)

  • Paints & Coatings
  • Electronic Components
  • Composites
  • Batteries
  • Solar Panels
  • Others

Graphene, End-Use Outlook (Revenue - USD Million, 2019 - 2032)

  • Automotive
  • Medical
  • Aerospace
  • Defense
  • Concrete Industry
  • Tires
  • Others

Graphene, Regional Outlook (Revenue - USD Million, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa