Graphene Market to Grow at a CAGR of 31.6% During 2023-2030; Increasing Number of R&D Activities for Development of Graphene-based Sensors to Bolster Market Growth

The global graphene market size is estimated to display strong growth by reaching USD 2,957.9 billion by 2030. Fortune Business Insights™ in its report titled “Graphene Market Size, Share & COVID-19 Impact Analysis, By Product (Graphene Oxide, Graphene Nanoplatelets (GNP), and Others), By End-use Industry (Electronics, Aerospace & Defense, Energy, Automotive, and Others), and Regional Forecast, 2023-2030” observes that the market size in 2022 stood at USD 337.0 million and is expected to reach 432.7 million in 2023. The market is expected to witness a strong CAGR of 31.6% during 2023-2030. Graphene is transforming the aerospace industry as it helps in improving the functionality of the coatings and composites used in drones, helicopters, planes, and spaceship manufacturing.

Biomedical Industry Experienced Fast-Paced Growth at the Time of Pandemic

Development of graphene technology and its applications accelerated during the pandemic in graphene-based protective equipment, drug delivery, bio-sensors, and treatment systems. Electronics and energy sectors experienced a negative impact from the pandemic owing to the logistics lowdown, drop in demand, and restricted access to raw materials for production. The biomedical industry experienced fast-paced growth due to the outbreak of the COVID-19 pandemic. Owing to its antiviral and antimicrobial efficiency, the product gained attention from the scientific community in treating inhibition, detection, and treatment of COVID-19.  

AGM Launched an Innovative New Series of Eco-Friendly GNP Dispersions

In July 2021, AGM launched an innovative new series of eco-friendly GNP dispersions. These dispersions will allow coatings, paints, and composite material consumers for the development of sustainability of various product formulations. Additionally, companies sign contracts, acquisitions, and strategic partnerships with other market leaders to expand their existing markets.

Increasing Number of R&D Activities for the Development of Graphene-based Sensors to Augment Growth  

Increasing number of R&D activities for the development of graphene-based sensors is expected to drive the graphene market growth. It is an active chemical sensor in electrolyte-gated arrangements. The demand for photoelectric sensors is fundamentally the same as indium-tin-oxide (ITO) substitutes in transparent conductors. High electrical conductivity and its transparency make it a striking option for making transparent electrodes in photoconductive sensors and photovoltaic cells.  

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Manufacturers are Expanding their Business to Gain Competency in the Industry

The global market has key players such as Haydale Graphene Industries plc, NanoXplore Inc., Applied Graphene Materials, Graphenea, Directa Plus S.p.A, ACS Material, XG Sciences, Global Graphene Group, Grolltex Inc, and others. Manufacturers have been expanding their businesses to gain competency in the industry and alleviate new entrants’ threats. In February 2020, production for XG graphene-enhanced polyurethane engine covers was started. These covers are now available on all Ford and Lincoln light truck boards and passenger cars.

Notable Industry Development:

• January 2020: ACS material introduced Graphene/Silver Nanowire Composite Transparent Conductive Film (TCF) comprising of enhanced performance compared to its TCF precursors.

List of Key Players Covered in the Report:

• Haydale Graphene Industries plc (U.K.)


• Graphenea (U.S.)


• ACS Material (U.S.)


• XG Sciences (U.S.)


• Global Graphene Group (U.S.)


• Applied Graphene Materials (U.K.)


• Grolltex Inc (U.S.)


• Directa Plus S.p.A (Italy)


• NanoXplore Inc. (Canada)


• Thomas Swan & Co. Ltd. (U.K.)


• First Graphene (Australia)


• Talga Group (Australia)


• Graphite Central (U.S.)

Further Report Findings:

• Asia Pacific dominated the global graphene market share in 2022 with a valuation of USD 113.2 million with favorable government policies, funding, and academic research. Presence of large-scale manufacturers and consumers with rise in production in various industries such as automobile, defense, marine, and aerospace, is expected to drive the market development.

• North America is estimated to witness significant growth with rising demand for the product from aerospace and energy industries.


• In terms of product, the Graphene Nanoplatelets (GNP) segment is expected to lead throughout forecast period as advanced nanoparticles are widely used in applications such as medical devices, conductive inks, energy, composites, and coatings.   

Table of Segmentation: