Graphene Market size is valued at USD 374.2 million in 2021, growing at a CAGR of 7.3% from 2022 to 2028. Graphene is an allotrope of carbon consisting of a single layer of atomic carbon in a specialized structure. Graphene is a 2D material where the carbon atom is composed of a 6-C hexagonal honeycomb structure. The interatomic bond between the carbon atoms makes it extensive tensile. This peculiar one-layer structure is the reason for its extremely thin and lightweight nature. A football field size Graphene sheet will weigh about 1g. Due to its single atomic layer deposition structure, the radical electron is free in graphene, which is why its high heat and electrical conductivity. As said above, graphene possesses strength, elasticity, high heat, and electrical conductivity, which makes its potential future material replacing silicon in electronics and plastics as regular-use material as it also has hydrophobic properties. Being only discovered in 2004 and bagging a Nobel prize in 2010 by the discoverer, Graphene has a long way to go as it still needs long technological advancements before it can replace silicon or plastic. Graphene can be potentially used in electronics. They are used in touch screens, OLED, LCD, and display electronics panels as they can conduct electricity very smoothly; Graphene is the future of the ever-growing demand for the more sensitive, flexible, tensile, and lightweight display panels throughout the electronics sector. With the booming technological advancement in the touch screen industry, the graphene market is about to boom in the near future. Recently there have been developments in quantum computing. Graphene can be its root as it holds the properties used in computer chips. Thus, the path for the graph of graphene market demand can be easily anticipated in the upcoming days of technological advancement, which will boost the global graphene market growth in the forecast period. Alongside technological advancement, another burning problem in today’s world is energy. With constantly depleting reserves of fossil fuel, it has been estimated by various international organizations that there will be no fossil fuel left by 2060. With 80% of energy needs fulfilled by fossil fuels, all technological advancement will be useless if we don’t opt for sustainable sources. At this point, graphene comes into the role as it showed potential to be the ready-to-go material for manufacturing solar cells. The market for solar cells is very bright without saying, as the developing nations are constantly opting for solar energy as an alternative to fossil fuels. If graphene can prove its reliability, it can be easily anticipated that graphene will also ride the grid. Thus, Graphene has the potential to control various markets, which is very promising for graphene market key players as the graphene market growth prospective is diversified. Though the material is promising, the graphene market has key restraints as technological advancement is necessary for incorporation in various sectors. Thus, the market players need to invest heavily in R&D before having the sweetness of profit.
Critical Developments in Graphene Market
On September 2022, Minister for Industry, Law, and Coir, P Rajeeve, announced the establishment of the Graphene Industrial Park for research and innovation of new technology in Kerela, India.
In July 2021, Thomas Swan & Co. Limited’s strategic assets for a patented graphene processing technique were purchased by Mason Graphite Inc. through its subsidiary Black Swan Graphene Inc. The effect of this will boost the factory’s productivity.
In June 2021, Researchers from the School of Engineering and a specialized Chinese material company started working together to create graphene-based materials for use in waste treatment and purification applications. An agreement for six years and $1.64 million in collaborative research was inked by Jiangsu Dingying New Materials Co Ltd. and the University of Edinburgh.