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Graphene Nanoplatelets Market Size Forecast to A Reach $40.1 Billion by 2026
Graphene Nanoplatelets Market Size Forecast to A Reach $40.1 Billion by 2026
Graphene Nanoplatelets Market Size Forecast to Reach $40.1 Billion by 2026

Graphene Nanoplatelets Market size is forecast to reach $40.1 billion by 2026, after growing at a CAGR of 27% during 2021-2026, owing to increasing demand from various end-use industries such as energy, aerospace, automotive, medical devices, and the sports industry too. Graphene Nanoplatelets are used in the electronic and automotive industry, owing to their excellent electrical and thermal conductivities. These nanoparticles are used to develop strong concrete for making taller buildings and bridges and abrasion-resistant cement for warehouses and roadways. Graphene nanoplatelets (2nm-10nm) consists of stacks of multi-layer graphene sheets in platelet morphology. The unique size and platelet morphology of the graphene nanoplatelets makes these particles effective and improving mechanical properties, while their pure graphitic composition makes them excellent electrical and thermal conductors. Hence, graphene nanoplatelets used to manufacture supercapacitor, conductive inks, and used in coating for anti-electromagnetic interference which is expected to grow the demand for graphene nanoplatelets.

The COVID-19 pandemic has been posing a measurable impact on the global economy and, in turn, on the graphene nanoplatelets market. COVID-19 has caused a lot of impact on graphene nanoparticle production, demand, and supply chain, which majorly hampering the end-use industries which are hampering the market growth.

Graphene Nanoplatelets Market Segment Analysis – By Grade

C-graphene nanoplatelets (C-GNPs) are expected to lead the graphene nanoplatelets market by grade segment in 2020 because these are used as anode materials for lithium-ion batteries. C-GNPs particles typically consist of aggregates of sub-micro platelets. It has a nanoparticle diameter of fewer than two microns and a typical particle thickness of a few nanometers which depends on the surface area. Thus, C-GNPs are suitable for applications requiring high electrical or thermal conductivity. C-graphene nanoplatelets are used for electrically conductive inks, which increases the demand for graphene nanoplatelets (GNPs) from the electrical & electronics industry.

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Graphene Nanoplatelets Market Segment Analysis – By Form

The powder segment held the largest share in the graphene nanoplatelets market in 2020 as they provide excellent electrical conductivity to all forms of graphene. The powder form is an ideal conductor of heat and electricity. Graphene powder is also known as a wonder material due to its nanostructural behavior. These nanoparticles are widely used in electronic devices, along with industrial applications where electrical conduction is required at high temperatures. Graphene nanoparticles are used in sensors which giving them an extremely high degree of sensitivity. Due to improving printing technology, it is used in conductive inks, which is expected to boost the demand for graphite powder form in various industrial appliances which in turn is estimated to increase the market size.

Graphene Nanoplatelets Market Segment Analysis – By Application

The energy industry segment dominated the graphene nanoplatelets market in 2020 and is growing at a CAGR of 29% during 2021-2026. Graphene nanoparticles are lightweight, which helps to reduce the weight of planes. Graphene nanoplatelets (GNPs) could dramatically increase the lifespan of a traditional lithium-ion battery. Graphene nanoplatelets are used as a power buffer between the wind turbine and the electrical grid. GNPs are used to make lighter, flexible, and transparent solar cells. Indium tin oxide is also a ideal combination of electrical conductivity and transparency needed for electrodes in solar cells but indium raw material is limited and is becoming more expensive. Thus, the transparent graphene electrodes could replace indium tin oxide in solar cells in the future, to make them cheaper and more efficient. On the other hand, products made of graphene nanoplatelets are fabricated to enhance the electromagnetic interference shielding effectiveness and improved electrical conductivity. GNPs increase the conductivity of each panel by 52% compared to indium tin oxide, which is expected to grow the demand for graphene nanoplatelets in the energy & power industry.

Graphene Nanoplatelets Market Segment Analysis – By Geography

North America dominated the graphene nanoplatelets market in 2020, with 32%, due to increasing consumption from various end use industries such as aerospace, consumer electronics, automotive, and others. In North America, aircraft manufacturers use graphene nanoplatelets for lightweight aircraft body parts. According to the U.S. Department of Commerce, Bureau of the Census, and Foreign Trade Division, the total aerospace trade exportation in the United States increased by US$ 151,06.535 billion in 2018 compared to US$ 143,14.021 billion in 2017. Asia is the second-largest consumer of graphene nanoparticles for electronics. According to the India Cellular & Electronics Association (ICEA), India had approximately 500 million smartphone users in 2019, and this number is growing steadily to reach over 800 million by 2022. Hence, increasing demand from various sectors is estimated to grow the market size. 

Graphene Nanoplatelets Market Drivers

Increasing Demand from End-Use Industries

Graphene nanoplatelets are used in the manufacturing of lightweight vehicle parts with safety standards. Graphene nanoparticles are used in conductive inks, lithium-ion batteries, concrete admixtures to provide a strong bond due to various properties such as renewable, lightweight, and flexible materials, thermal conductivity, heat, and pressure-resistant. Thus, increasing end-use industries such as building and construction, aerospace, and others is estimated to grow the consumption of graphene nanoparticles. According to the International Trade Administration (ITA), the Chinese government is expected to run the production of automobiles with 35 million units by 2025. According to the India Brand Equity Foundation, the Indian aerospace & defense (A&D) market is projected to reach ~US$ 70 billion by 2030. Hence, such factors are estimated to grow the consumption of graphene nanoplatelets. 

Increasing Adoption of Graphene in the Medical Sector

Graphene has been shown in the past as extremely useful for various sensors for human skin. Graphene is used to increase the sensitivity of diagnostic devices, in particular those used to monitor and treat another disease such as HIV. Graphene could be used to make better masks, gloves, and gowns. Although graphene particles are used in the treatment of cancer, muscles, and bone implants. Hence, the increasing adoption of graphene is estimated to grow the market size.

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Graphene Nanoplatelets Market Challenges

High Manufacturing Cost

High manufacturing cost of graphene nanoplatelets is one of the major restraints for the market growth. Graphene nanoplatelet cost is linked to graphene quality. The technique of graphene nanoparticle manufacturing is not an efficient amount for use in industry projects or composite materials. For this reason, a lot of investment has been made into research worldwide, to facilitate the high-level production of graphene nanoplatelets. The high cost of graphene nanoplatelets is one of the major obstacles to its widespread adoption for commercial applications. Thus, the production of graphene nanoplatelets with high quality at low cost is a major challenge for the manufacturers, which may hamper the market growth of graphene nanoplatelets.

Graphene Nanoplatelets Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Graphene Nanoplatelets market. Major players in the Graphene Nanoplatelets Market are XG Science Inc, Group NanoXplore, Haydale, Graphenea, Ceal Tech, Vorbeck Materials, ACS Material LLC, Strem Chemicals, Inc., Cheap Tubes Inc, Bluestone Global Tech, Angstron Materials, and among others. 

Research and Developments

In August 2019, researchers from Chalmers University of Technology, Gothenburg, Sweden, developed a quantum-limited detector using graphene.

In August 2019, researchers from King Faisal University, Saudi Arabia, reported development a hybrid nanoparticle that consisted of a Doxorubicin-loaded reduced graphene oxide that is stabilized with chitosan for feasible and viable delivery Doxorubicin photo-thermally in the treatment of prostate cancer.

In May 2019, researchers from Pandit Deendayal Petroleum University, India, developed a new method to fabricate graphene sheets from camphor using atmospheric chemical vapor deposition.

Key Takeaways

North America dominates the graphene nanoplatelets market owing to the increasing demand for graphene nanoparticles in various sectors such as consumer electronics, automotive, energy storage, and aerospace.

Increasing adoption of graphene nanoplatelets from electrical & electronics to manufacture conductive inks, coating for anti-electromagnetic interference capability, and conductive circuits for LED back panels which are estimated to grow the market size.

Graphene nanoparticles use in lithium-ion batteries to improving the life and charge capacity of the battery, will increase the demand for graphene nanoplatelets soon.

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