Graphene Coating Market Forecast and CAGR
As per the most recent research by Fact.MR, graphene coating market is set to witness fast-paced growth with a CAGR of 6.8% during the forecast period 2021 to 2031. It has a wide range of applications such as hull coating, solar cells, biomedical implants etc., and in numerous industries ranging from aerospace, automotive, medical among others.
These graphene coatings act as an alternative to steel and diamond as it is 200% stronger than steel and more robust than diamond. Its superior conductivity of electricity and heat characteristics is enabling its usage in mobile phone screens, memory chips and laptops.
Its additional quality of being exceptionally impermeable to gases, anti-bacterial properties, adsorption capacity, chemical resistance, thermal stability and lubricity act as determinants which favour the growth of the graphene coatings market over the forecast period.
What is Driving the Demand for Graphene coatings?
Graphene coatings are conductive, chemically resistant and/or hydrophobic. The demand for hydrophobic graphene coatings is driven by pot/pan liners, ship hulls, textiles and glass surfaces (windows, mirrors, windshields) which require water-repellent surfaces.
Conductive graphene coatings have their demand in the aerospace industry where it is used to coat aircraft surface material to prevent electrical damages due to lightning strikes. Additionally, it is also used to measure strain rate, notifying the pilot of any changes in the stress levels that the aircraft wings experience, during flight.
In the medical sector, the demand for the product arises from technologies that require a biocompatible surface with degradation resistant characteristics. Graphene-coated biosensors are being developed to electrically detect E. coli bacteria in the medical sector. It has one of its most critical applications in cancer treatment where nano-graphene biocompatible polyethylene glycol (PEG) coating has been used in the effective ablation of tumours in mouse models.
The product has its demand in the automotive sector where it is used in both interior and exterior parts of a car as it makes plastics, metals or other materials stronger and water-resistant.
Europe Graphene Coating Market Geographical Outlook
Europe is expected to dominate the graphene coating market in the forecast period as it accounted for over 33.1% of total revenue share and is anticipated to experience a strong growth rate over the years owing to rising R&D and investment activities in the region.
For instance, 1.86 billion euros were granted by the European Research Council (ERC) for investment in potential future and emerging technologies that will benefit the overall market and consequently have a positive effect on the graphene coating market as well.
North America Graphene Coating Market Geographical Outlook
The North American market for this product is highly fragmented with numerous small and medium-sized manufacturers. These companies have a strong distribution and supply chain network in place. This aids in maintaining a loyal customer base for the manufacturers and delivering the required product in record turn-around time.
The USA dominates the North American market for graphene coatings and is anticipated to continue to do so over the forecast period. The region has numerous manufacturers which have collaborated with research institutions over the past few years due to heightened focus on R&D activities.
Additionally, the country is one of the leading exporters of graphene-based coatings. Owing to the aforementioned factors, USA is poised to remain one of the most important markets for graphene-coatings.
Who are the Key Manufacturers of Graphene Coatings?
Some of the key manufacturers in the market are
- AI Coating
- Dongguan Sheerfond New Material Co. Ltd
- Supervac Industries
- Graphite Central
- Surface Protective Solutions
- Ethos
- Artdeshine
- KNV'S
- Applied Graphene Materials (AGM)
- Directa Plus Ltd (DCTA)
- Haydale Graphene Industries Ltd (HAYD).
The market for graphene-based coating is consolidated and the top players in the market are Surface Protective Solutions, Ethos and Artdeshine dominating the market and this is expected to continue over the forecast period. The key players focus on R&D and product innovation and newer application possibilities to gain a competitive advantage.
Graphene coating Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
