Graphene is used in a various of applications including composites, energy harvesting & batteries, electronics, sensors, paints & coatings, conductive inks, membrane, and others. Graphene reduces weight of composites & rubbers, increases energy efficiency in electrodes, increases the abrasion resistance of the material, increases heat dissipation in rubbers. However, amidst the global COVID-19 pandemic, the demand for graphene from the applications mentioned above is expected to show a decline. The global graphene market size is expected to grow from USD 620 million in 2020 to USD 1,479 million by 2025, at a CAGR of 19.0% during the forecast period.
Over the past years, graphene manufacturers have strengthened their position in the global graphene market by adopting expansions, partnerships, agreements, new product/technology launches, joint ventures, contracts, and mergers & acquisitions. R&D activities ongoing in the industry to make graphene commercialize and create cost-effective manufacturing technology for graphene. The growing R&D activities is expected to drive the graphene market during the forecasted period.
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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.
However, the COVID-19 outbreak has affected the demand for graphene in the region. On the positive side, support packages offered by governments of various countries will help to maintain the liquidity in end-use industry. Such initiatives coupled with recovery in the application industries will increase the demand for graphene in APAC and European region.
The major manufacturers profiled in this report include US), Graphenea SA (Spain), Avanzare Innovacion Tecnologica S.L. (Spain), Global Graphene Group (US), Directa Plus S.p.A. (Italy), Haydale Graphene Industries Plc (Italy), Changzhou Sixth Element Materials Technology Co., Ltd. (China), and Ningbo Morsh Technology Co., Ltd. (China), Nanjing XFNANO Materials Co., Ltd., Xiamen Knano Graphene Technology Corporation Limited, and JCNANO Tech Co., Ltd. (China). These companies are focused on increasing production capacities and developing innovative graphene-based products for various end-use industries. The growing applications of graphene in various end-use industries such as automotive & transportation, aerospace, and electronics is expected to drive the market during the forecasted period. For instance, Graphenea SA introduced two new graphene-based sensors named S11 and S12 under the GEFT sensing product line. The company adopted this strategy to grow its business in graphene-based sensors segment.
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