New York, April 12, 2023 (GLOBE NEWSWIRE) -- The Graphene Market revenues were estimated at US$ 125.7 Million in 2022 and is anticipated to grow at a CAGR of 43% from 2023 to 2033, according to a recently published Persistence Market Research report. By the end of 2033, the market is expected to reach a valuation of US$ 3.7 Billion.
The global Graphene Market is divided into two categories, Bulk Graphene, and Monolayer Graphene. Bulk Graphene accounts for more than 50% of the global Graphene Market revenue and it will continue to maintain the same market share during the forecast period.
Graphene nanoplatelets, graphene oxide, reduced graphene oxide, and other types of graphene are all included in bulk graphene types. The demand for bulk graphene is likely to rise as its use in composites applications expand. Due to its wide range of uses in industries such as aerospace, communications, power storage, and generation, graphene nanoplatelets are likely to experience considerable growth in demand.
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Graphene oxide is also an important product with a variety of applications, including transparent conductive sheets for various superconductors, versatile electrical gadgets, tablets, and diagnostic supplies. Increased demand is fueled by high thermal and permeability qualities, as well as ionic properties, agility, and energy.
In 2022, Asia Pacific held the largest share of the global Graphene Market accounting for around 35% of the global revenue due to the increased demand for products in industries including automotive, marine, military, and aerospace. The region's developing industrial sector is expected to propel market expansion in Asia Pacific. Another influential factor of the regional industry is China's growing industrial sector. Rising product demand from this industry would eventually result in a faster market growth rate.
Competitive Landscape
The prominent players operating in the graphene market include Angstron Materials, Inc., ACS Material, LLC, BGT Materials Ltd., CVD Equipment Corp., Directa Plus SpA, Grafoid Inc., Graphenea, Graphene NanoChem, NanoXplore, Inc., G6 Materials Corp., XGSciences, Thomas Swan & Co. Ltd., 2D Carbon Graphene Material Co., Ltd., Haydale Graphene Industries Plc, and Applied Graphene Materials.
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Some of the recent developments of key Graphene providers are as follows:
- In February 2022, Haydale, announced that it will work with Cadent Gas Ltd and the Energy Innovation Center to create graphene ink-based low-power hot water heaters. The first phase of the US$ 170,000 three-stage project will last 15 months. When the gas supply is disrupted, the graphene solution has the potential to provide a low-power approach to heat water.
- In March 2022, Composites UK, a prominent trade group that brings firms together and creates a single voice to move the UK composites sector forward announced the membership of Applied Graphene Materials (AGM). Following AGM's recent success in forming industry alliances, the membership will allow the business to expand its reach within the composites community.
More Insights Available
Persistence Market Research, in its new offering, presents an unbiased analysis of the Graphene Market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
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The study reveals extensive growth in Graphene Market
- by Materials (Graphene Nanoplatelets, Graphene Oxide, Reduced Graphene Oxide, Others),
- by Application (Electronics, Composites, Energy and Others),
- by Type (Bulk, Monolayer)
- Across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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