What is Graphene Market Global Forecast to 2025 Aug 16 , 2021

PMA Group is having all kinds of Graphene heating product, such as Graphene heated waist and hand massagers. But what about the whole graphene market?

The global graphene market size is projected to grow from USD 620 million in 2020 to USD 1,479 million by 2025, at a CAGR of 19.0%. The graphene industry is growing due to the rise in demand for graphene from various applications, globally. The growth rate for graphene s is expected to decline in 2020 due to COVID-19. However, the end of lockdown and recovery in the end-use industries will stimulate the demand during the forecast period.

Impact of COVID-19 on global graphene market

The graphene market is expected to witness a decline in growth in 2020 due to the COVID-19 pandemic. This deadly virus has adversely affected the entire globe, especially the North American and European regions. To prevent the further spread of this virus, companies have shut down their operations and manufacturing facilities. This has led to a reduction in the consumption of graphene across industrial automotive & transportation, aerospace, electronics, and other industries.

Increasing demand from the automotive & transportation end-use industry to drive the demand for graphene

The automotive & transportation industry is the largest application industry in the graphene market in terms of volume. The graphene can be used in various applications in automotive industry such as in composite structural components, automotive batteries, tires, anti-breaking systems, among others . The increased demand from these applications is expected to drive the graphene market during the forecasted period.

Increasing in R&D activities is a major driver for the graphene market

Graphene is termed a wonder material by various researchers due to its exceptional properties. A large number of universities, research institutes, and companies are focusing on the R&D of graphene materials to make it commercialize and create cost-effective manufacturing technology for graphene. Continuous R&D for making graphene more efficient and flexible is going on for new applications.

Difficulty in mass production is major restraint of the market

The mass production of high-quality and defect-free graphene is still a restraint for all graphene manufacturers as the manufacturing process of graphene is cost-intensive and time-consuming. Maintaining the quality and up-scaling the graphene production at the same time are difficult. In case of any defects on the graphene monolayer carbon network, the properties of graphene such as electrical conductivity, transparency, thermal conductivity, and impermeability are damaged, which hamper the quality of graphene. For producing high-quality monolayer and few-layer graphene, the CVD process is used, and it is difficult to attend mass production with the CVD process. These factors restrict the mass production of graphene and lead to a higher cost of production.

Lack of standardisation in graphene industry is major challenge

The graphene industry is in its initial stage of development, and very little work is done in terms of regulations and standards. Several companies are producing various types of graphene materials, which is causing much diversification and confusion in the industry. This factor has resulted in fake graphene in the market, which is difficult to recognize at the product stage. This is leading to many cases of poor-quality graphene from suppliers and diminishing the trust among end-users. Some institutes are developing their methods for quality testing of graphene. For instance, researchers from the National University of Singapore (NUS) have developed a systematic and reliable method for establishing the quality of graphene at a global level. In 2019, the International Organization for Standardization (ISO) had published standard ISO/TR 19733:2019, which gives guidelines for matrix properties and measurement techniques for graphene and related 2-D materials. In September 2020, the Graphene Flagship Standardization Committee (GFSC) launched a standardization certificate for graphene products used in industries and the scientific community.

The bulk graphene segment accounted for a major share of the graphene market in terms of value and volume during the forecast period.

The bulk graphene type holds the largest share in the global graphene market. Bulk graphene type of graphene includes graphene nanoplatelets (GNPs), graphene oxide, reduced graphene oxide, and other forms of graphene. Increasing applications of Bulk graphene finds wide applications in composites applications is expected to drive the demand.

APAC held the largest market share in the graphene market

APAC accounted for the largest market share in the global graphene market in 2019. A number of graphene manufacturers in countries such as China, Japan, South Kora, India, and Australia are contributing to the growth of the regional market. These manufacturers are focusing on R&D activities in collaborations with various research institutes and universities for the development of graphene products. APAC has the highest number of manufacturers of automotive vehicles, electric batteries, and electronics components; these are the major applications where graphene is used. The presence of major end-use industries drives the graphene market in the APAC region.

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