Graphene Market By Type (Bulk, Monolayer), By Material (Graphene Nanoplatelets, Graphene Oxide, Reduced Graphene Oxide), By Application (Electronics, Composites, Energy), and By Region - Global Market Report (2024 to 2034)
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Graphene Market Outlook (2024 to 2034)
The global graphene market size is calculated at a valuation of US$ 147.4 million for 2024 and is projected to reach US$ 3.85 billion by the end of 2034. Worldwide demand for graphene is forecasted to rise at a jaw-dropping 43% CAGR from 2024 to 2034.
Graphene is a substance that was discovered by Andre Geim and Kostya Novoselov at Manchester University in 2004. Since then, the potential application scope of graphene has increased rapidly, and this is projected to boost sales of graphene in the long run.
Miniaturization of electronics is a key prospect that is fueling investments in research into graphene around the world. Growing focus on sustainability, adoption of clean energy, expanding use of graphene in semiconductor manufacturing, rising demand for electronics, and increasing investments in the R&D of novel sustainable composite materials are other key graphene market trends to watch out for in the future.
Electrification of the automotive industry and rising sales of electric vehicles are projected to create a lucrative space for graphene battery suppliers, thereby boosting graphene demand as well.
- In September 2023, Lyten, a battery start-up based in the United States, announced that it had raised US$ 200 million in a funding round led by Prime Movers Lab, a venture capital firm. The company had plans to use this capital to scale its 3D graphene material for different applications including next-generation batteries.
East Asia is predicted to account for a sizeable chunk of the global graphene market size owing to the projected increase in production and use of graphene in countries such as China and Japan going forward. The increasing use of graphene composites and the rising popularity of graphene batteries in this region is estimated to fuel graphene market growth over the next 10 years.
- East Asia is projected to account for 33.7% of the global graphene market share by the end of 2034.
|Graphene Market Size (2024E)
|US$ 147.4 Million
|Projected Market Value (2034F)
|US$ 3.85 Billion
|Global Market Growth Rate (2024 to 2034)
|North America Market Value (2024E)
|US$ 38 Million
|Japan Market Share in East Asia (2034F)
|Mexico Market Growth Rate (2024 to 2034)
|Bulk Graphene Sales (2034F)
|US$ 2.52 Billion
|Key Companies Profiled
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How Can the Graphene Be a Goldmine for Start-ups?
“Surging Demand for Graphene Composites and Graphene Batteries”
Scope of application of graphene has been expanding rapidly like wildfire and this has opened up new avenues of opportunities for aspiring graphene companies looking to penetrate the marketplace. New graphene suppliers can focus on the development of products such as graphene coatings, graphene batteries, and graphene composites to successfully penetrate the global marketplace in the future.
- Bright Day Graphene, a company founded in 2017, is following an eco-friendly approach to graphene production by using forestry waste biomass. The company offers Grapholium, a lignin-based graphene material that it made through Bright Day’s patented manufacturing technology.
- SurgePower Materials, a start-up based in the United States, produces monolayer graphene for use in industrial applications. The company takes a clean approach to graphene production as it uses a thermochemical reduction process to make graphene from cassava plant material.
- ORA Graphene Audio, a Canadian company founded in 2016, provides an advanced graphene composite called GrapheneQ specifically for use in audio transducers. This proprietary nanomaterial by the start-up enhances the audio quality and reduces distortions as well.
- Volexion, a new company based in the United States and founded in 2018 is exploring the use of graphene in battery and energy applications. The company has developed a proprietary graphene coating technology to improve energy density and suppress electrolyte degradation in Li-ion batteries.
Start-ups can gain a detailed understanding of factors such as local supply, pricing trends, product standards, safety regulations, and new developments related to graphene through this market research analysis by skilled analysts at Fact.MR, a market research and competitive intelligence provider.
The world is your oyster is enough to say that graphene companies can invest in any part of the world and they will not be disappointed as the scope of application of graphene increases at a rampant pace going forward. India, China, the United States, Germany, and Japan are forecasted to be some of the most lucrative markets for graphene suppliers across the study period and beyond.
Why is India Projected to Emerge as a Highly Lucrative Market for Graphene Suppliers?
“Significant Strides in Graphene R&D and Innovation”
The start-up scenario in India has gained global prominence in recent years, and this can be attributed to the thriving entrepreneurial spirit and supportive government initiatives such as Make in India and Startup India. Increasing investments in research and development for new graphene products in the country are also creating a highly opportune scenario for new as well as established graphene manufacturers in the long run.
- Terracarb, a start-up based in Bangalore, India, provides custom graphene additives for different industries such as chemicals, energy, and construction. The company follows the circular economy approach and has a low carbon footprint to promote sustainability.
- In September 2023, Dreamfly Innovations, a start-up founded in 2022 focusing on the development of new graphene batteries, announced that it had raised US$ 300,000 to fund the commercialization of its graphene battery and business expansion. The funding was led by the Rebalance Angel Community.
What’s Favoring Sales Growth of Graphene in Europe?
“Rising Focus on Sustainability and Growing Popularity of Circular Economy”
European countries are leading the sustainability charge of the world, and this is projected to influentially benefit graphene demand in Europe as well as on a global scale. Increasing investments in the development of green technologies and the shift towards clean energy in the European region are projected to bolster sales of graphene over the next 10 years and beyond.
- In October 2023, Concretene, a start-up based in the United Kingdom, revealed that it had secured US$ 1.57 million from three government grants. The company is adding graphene to concrete and making a material that has a lower carbon footprint and is 30% to 50% stronger than standard concrete.
- Back in 2013, the European Union launched a scientific research initiative focused on graphene called the Graphene Flagship with a budget of US$ 1.08 billion to support start-ups working with graphene and catalyze innovation.
How Investment-worthy is the Market in the United States?
“Growing Export of Graphene Products Creating Excellent Business Opportunities”
|Market Value (2024E)
|US$ 26 Million
|Growth Rate (2024 to 2034)
|Projected Value (2034F)
|US$ 738.1 Billion
The United States is a prominent exporter of graphene-based products and materials for countries that are not capable of manufacturing these products themselves. This aspect makes it a highly important market for graphene companies and a key country in controlling the global graphene demand and supply. Increasing investments in the development of improved graphene products is further widening the scope of graphene exports from the United States and boosting the overall market growth as well.
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Graphene suppliers are prioritizing the provision of graphene composites in response to the escalating requirements from the aerospace and automotive sectors.
What is the Primary Application Area for Graphene?
“Widespread Use of Graphene in Composite Manufacturing”
|Segment Value (2024E)
|US$ 46.3 Million
|Growth Rate (2024 to 2034)
|Projected Value (2034F)
|US$ 1.25 Billion
Graphene-based composites have been gaining popularity in different industry verticals owing to their excellent resistance to impact, heat, and flame along with superior mechanical and electromagnetic capabilities as compared to other composites. Growing focus on incorporating sustainable materials in composites and rising awareness regarding the benefits of graphene composites around the world are also forecasted to benefit their demand outlook through 2034.
Aspiring graphene manufacturers are projected to thrive in the global marketplace over the coming years as the buzz around graphene gets intense worldwide. New graphene companies are focusing on raising capital to fund their business expansion efforts in the future.
In March 2022, Paragraf, a start-up known for mass production of graphene-based electronics, announced that it had raised US$ 60 million in a Series B funding round led by New Science Ventures and participation from other current as well as new investors. The funding was intended to be used to expand the company’s R&D scope and roll out a graphene-based biosensor as well.
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Key Segments of Graphene Market Research
By Material :
- Graphene Oxide
- Reduced Graphene Oxide
By Type :
By Application :
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
- FAQs -
How big is the graphene market in 2024?
The global graphene market is estimated at US$ 147.4 million in 2024.
Which region occupies a leading share of the graphene market?
East Asia is projected to account for 30.7% share of the global graphene market in 2024.
What is the projected sales value of graphene by 2034-end?
Sales of graphene are forecasted to reach US$ 3.85 billion by 2034-end.
How high is the demand for graphene projected to be?
Demand for graphene is forecasted to rise at an astronomical CAGR of 43% from 2024 to 2034.
Which application of graphene has a bright outlook?
Use of graphene in electronic applications is set to increase at a stellar 44.6% CAGR from 2024 to 2034.
Who are the leaders in the graphene market?
Graphenea, Angstron Materials Inc., ACS Material LLC, Grafoid Inc., and Haydale Graphene Industries Plc are leading graphene manufacturers.