The graphene market is projected to grow from US$ 821.2 million in 2021 to US$ 7,555.8 million by 2028; it is expected to register a CAGR of 37.3% from 2021 to 2028.

Graphene is the structural element of carbon allotropes, including graphite, carbon nanotubes, and fullerenes. Graphene finds its application in various industries, such as electronics, biomedical, automotive, and construction, due to its superior tensile strength, mechanical properties, flexibility, and chemical stability. Graphene is a highly useful material without similar substitutes in the market, further leading to the consistent demand for the material over the future.

Based on type, the global graphene market is segmented into monolayer & bilayer, graphene nano-platelets, graphene oxide, and others. In 2020, the monolayer & bilayer segment accounted for the largest revenue share. Graphene nano-platelets segment is also expected to account for the fastest growing compound annual growth rate over the forecast period. Monolayer & bilayer graphene is largely used in the application of electronics. Since electronics is the dominating application in the graphene market, monolayer and bilayer graphene is the most utilized type.

Based on application, the global graphene market is segmented into composites; functional inks, paints and coatings; energy storage; electronics; polymer additives; RFID; and others. The electronics segment held the largest market share in 2020. Graphene is increasingly used in touch screens because it is thinner and stronger than any other material. It is used in transistors and other electronics applications as a replacement for silicone. Graphene can be used to produce batteries of less weight and low cost. The energy storage segment is expected to be the fastest-growing segment during the forecast period. Energy storage devices such as batteries and supercapacitors require graphene for enhancing the lifespan of those products. Thus, the increasing application of graphene is expected to drive the market in the near future.

In 2020, Asia Pacific held the largest revenue share of the global graphene market. In Asia Pacific, the electronics industry is the largest consumer of graphene. The increasing focus on research and development for graphene-related applications in the region is also the key factor driving the market. China accounts for the highest number of patents for graphene globally. The energy storage segment is the second-largest and fastest-growing segment in the Asia Pacific region. Industrial and manufacturing activities have increased in the past few years. This has resulted in a rising demand for graphene. Further, innovations in the electronics industry by major manufacturers in the region are expected to boost the growth of the graphene market.

The key market players in the global Graphene market include XG Sciences; The Sixth Element Materials Technology Co., Ltd; Global Graphene Group; NanoXplore Inc.; Graphenea, Inc.; Directa Plus S.p.A; AVANZARE INNOVACION TECNOLOGICA S.L.; Thomas Swan & Co. Ltd.; Morsh; and Perpetuus Advanced Materials PLC

The overall global graphene market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the graphene market.