TAGS: Smart Coatings Inks
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.
Graphene is extensively being used in the automotive & transportation, aerospace, electrics, military & defense and other end-use industries. The increasing use of graphene-based composites materials in the automotive & transportation end-use industry is expected to drive the demand.
Bulk Graphene - Major Share of the Graphene Market
Bulk graphene includes graphene nanoplatelets (GNPs), graphene oxide, reduced graphene oxide, and other forms of graphene. Graphene oxide is an oxidized form of graphene available in powder and dispersion forms. So, when deposited on any substrate, it can easily be converted into a conductor, making it feasible for the production of transparent conductive films, chemical sensors, flexible electronics, and touch screens.
The low cost and ease of production make graphene oxide a preferred graphene type in major applications such as rust-free coatings and flexible composite materials. Graphene nanoplatelets (GNP) are available in flakes and layers of graphite that are prepared depending on the requirements of end users.
GNPs are widely used in ink formulation, conductive inks, printed electronics, coatings, energy storage, nanocomposite materials, and lithium-ion (Li-ion) batteries, and other applications, as they are lightweight and have a long life-span. They are also heat resistant and cost-effective.
Automotive & Transportation Industry Accounted for Largest Market Share
Graphene has various applications in the automotive industry. It is mostly used as additives. When mixed with rubber, it increases both durability and grip of tires. Graphene can be used as additive in composites for making body panels. It increases the structural properties of composites to make body part stronger and lighter, also can help in increasing mechanical as well as thermal performance of vehicles. As the automotive industry is moving towards e-mobility and looking to reduce vehicle weight and increase the performance of batteries, graphene plays an important role in achieving these goals. These factors are expected to drive the graphene market in automotive & transportation end-use industry.
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.
Source: M&M