Graphene Market Size and Trends

The Graphene Market is estimated to be valued at USD 233.8 Mn in 2024 and is expected to reach USD 813.8 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 19.5% from 2024 to 2031.

Graphene Market Key Factors

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The graphene market is expected to witness significant growth over the forecast period. The increasing usage of graphene in sectors such as electronics, building & construction, and aerospace & defense is expected to drive the market growth during this period. Within electronics, graphene is utilized to enhance the electrical conductivity and heat dissipation capabilities of devices. In the building & construction sector, graphene-enhanced materials exhibit high strength and durability. When added to materials like cement and concrete, it can increase their lifespan. Moreover, the superior properties of graphene such as high mechanical strength and flexibility make it suitable for use in the manufacturing of lighter and more durable components for aircraft and spaceships. The development of newer applications of graphene across different end-use industries is expected to continue supporting the high growth of this market.

Strong and flexible material

Graphene is one of the strongest materials ever tested, with a tensile strength 200 times greater than steel. It is flexible yet harder than diamond. These unique material properties of graphene have enabled novel applications across various industries. In the electronics sector, graphene is being used to develop flexible displays and smartphones of the future. Its high strength to weight ratio allows for lighter and more durable consumer electronics. In transportation, graphene composites are making aircraft, vehicles, and other machinery more damage-resistant and fuel efficient. Its thermal and electrical conductivity also supports applications in advanced batteries, HD displays, memory chips and more.

The auto industry has taken significant interest to employ graphene's abilities to develop stronger and lighter vehicle structures. Recently, some leading car makers have started exploring graphene-enhanced materials for vehicles. This allows design of smaller and more economical electric cars without compromising safety. The aerospace industry too is investigating graphene for aircraft components and spacecraft. Its strength at microscopic levels along with flexibility provides advantages over traditional composites. Several manufacturing firms are actively working on methods to mass produce and process graphene materials for real industrial uses. With further refinement in synthesis techniques, more sophisticated and cost-effective applications of graphene will emerge across a wide range of sectors in the coming years.

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Electromagnetic shielding

Another promising application of graphene lies in its superb electromagnetic interference (EMI) shielding properties. Electromagnetic radiations from cellular networks and wireless devices have raised concerns regarding possible health hazards. Graphene sheets have demonstrated the ability to block over 99% of electromagnetic waves across frequencies due to its ultrathin layered structure. This makes it an ideal material for shielding enclosures of electronic gadgets as well as other radiation-prone industrial equipment. Leading telecom equipment suppliers are investing in R&D utilizing graphene's properties for 5G and IoT-enabled devices of the future.

Military and aviation sectors require strict control over electromagnetic emissions from sensitive electronics onboard. Graphene composites show potential to provide lightweight yet highly effective shielding layers in aerospace and defense applications. Even healthcare industry benefits from it, as growing usage of MRI machines and other diagnostic equipment necessitates robust shielding materials. Graphene films have been shown to shield magnetic fields ten times better than copper films. Continuous progress in synthesis techniques will make graphene more commercially viable for various EMI shielding solutions across sectors.