HYDERABAD, India, April 7, 2022 /PRNewswire/ -- Since the discovery of graphene in 2004, it has been described as the "material of the 21st century," "revolutionary material," "miracle material," and "super-material" owing to its unique properties, whether mechanical, thermal, or electrical. Graphene is the strongest and thinnest material known to humankind. Furthermore, graphene is highly conductive to heat and electricity and has interesting light absorption abilities. In spite of its excellent properties, its application in the real world had not gained pace till very recently. However, with the announcement of the mass production of electric vehicles (EV) with graphene batteries by Guangzhou Automobile New Energy (GAC Group) in September 2021, the automotive industry is expected to be one of the first industry to witness the graphene revolution.
Market overview
According to ReAnIn, the global graphene market was valued at USD 210.18 million in the year 2021 and is projected to reach USD 3,332.96 million by the year 2028, registering a CAGR of 48.4% during the forecast period. Asia Pacific accounted for the highest share in the global graphene market owing to the presence of a number of mines in the region and the maximum number of manufacturers of electric vehicles, electric batteries, and other components. Moreover, favorable government policies and funding have helped China to retain its dominance in graphene production.
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While graphene can potentially revolutionize almost all industries; automotive, paints & coatings, and energy is expected to be the first few ones to witness major innovation
Graphene promotes quicker ion and electron transport in the electrodes and hence, can be charged very quickly in comparison with the lithium-ion battery. Multiple companies have shown interest in developing graphene batteries due to their fast-charging capability, however, there are not many success stories. A major breakthrough was achieved when GAC Group successfully tested its super-fast charging battery that uses 3D graphene (3DG). According to the company, this battery can achieve 0-80% of charge in just 8 minutes. Furthermore, the company announced its plan to start mass production of electric vehicles with graphene batteries in September 2021. The successful launch of this EV will encourage other leading manufacturers in this field to develop graphene-based batteries.
The addition of graphene in paints offers multiple advantages compared to traditional paints. Its superconductivity improves the thermal regulation of buildings, while its thinness and strength allow corrosion-resistant durable finish. A few of the companies working on graphene-based paints & coatings are Graphenstone, Applied Graphene Materials, and The Sixth Element Materials Technology Company.
Key Highlights of the Report:
- Graphene nanoplatelets (GNP) accounted for the highest market share (~45%) in 2020. These nanoplatelets are added to polymers to enhance their mechanical properties, chemical resistance, and overall lifetime
- In the Application segment, composites accounted for the majority of the market share in 2020 as it is increasingly being used as an additive in resin matrices and other materials to improve mechanical properties
- China is the market leader with the presence of a large number of raw material suppliers and manufacturers of graphene-based products such as batteries. Favorable government policies to promote its use and leading R&D facilities for graphene have supported in maintaining the country's dominance globally.
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Market Segmentation:
ReAnIn has segmented the global graphene market by:
- Product Type
- Graphene Sheets and Films
- Graphene Oxide
- Nanoribbons
- Nanoplatelets
- Other Products
- Application
- Aerospace and Defense
- Automobile
- Composite
- Electronics and Telecommunication
- Energy
- Healthcare
- Paints and Coatings
- Others
- Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Competitive Landscape
Leading players in this market include ACS Material, Applied Graphene Materials, Archer Materials, China Carbon Graphite, Directa Plus, Elcora Advanced Materials, First Graphene, Graphene Manufacturing Group, Global Graphene Group, Grafoid Inc., Graphenano, G6-Materials, Graphenea, Haydale Graphene Industries, Morsh, NanoXplore, Perpetuus Advanced Material, Talga Resources, The Sixth Element (Changzhou) Materials Technology Co. Ltd, Thomas Swan & Co. Ltd, Versarien, Versarien, XGSciences, Xolve, and ZEN Graphene Solutions.
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