US Graphene Market Size was valued at USD 0.6 Billion in 2022. The graphene industry is projected to grow from USD 0.75 Billion in 2023 to USD 3.121 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 19.50% during the forecast period (2024 - 2032). Growing use of graphene in energy storage devices is a major market driver of market revenue expansion.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
One important graphene market trend is the expanding usage of graphene in the medical field. Medical gadgets, drug delivery, and DNA sequencing are just a few of the many uses for graphene in medicine. Because cancer is becoming more and more commonplace, graphene patents in the biomedical field are dominated by research on the disease. Graphene particles can be introduced into patients for more effective treatment by chemically altering them to target cancer cells. Because of graphene's capacity to absorb infrared light, customized radiological treatments can be administered with reduced side effects. In addition, graphene exhibits potential for precisely delivering medications without harming healthy cells. Graphene is a great option for treating cancer because of its enormous surface area and two-dimensional structure. Graphene-coated medical devices also have antimicrobial qualities, which makes them appropriate for surgical implants. The US graphene market is anticipated to rise as a result of these developments.
Furthermore, owing to its exceptional qualities, including its electrical conductivity, tensile strength, lightweight, and thermal conductivity, graphene is finding more and more applications in the automotive industry, including graphene-based batteries for automobiles, tires, and anti-breaking systems. To make automobiles safer and lighter, graphene oxide-based sheets are employed. Because graphene is used in so many automobile components, its market share will increase and its growth will be stimulated. Fuel efficiency, lightweight, and safety are features of graphene-based polymer composites used in automobiles. According to CEIC data, in December 2022, the United States Motor Vehicle Production was recorded as 10,060,339.000 units. Compared to the prior figure of 9,157,205.000 Unit for December 2021, this is an increase. The expanding US graphene market will continue to develop in size and volume in the upcoming years due to the growing graphene applications being driven by the expanding automotive sector. Thus, driving the graphene market revenue.
The US Graphene market segmentation, based on product includes Graphene Oxide, Graphene Nanoplatelets (GNP), and Others. The graphene nanoplatelets (GNP) segment dominated the market mostly. The growing market application of nanoplatelets has an impact on their high demand. It has excellent qualities for applications mostly in the electronics industry, including rigidity, electrical and thermal conductivity, and others. Furthermore, the market for graphene is being driven by the increasing use of graphene nanoplatelets in conductive inks, battery electrodes, thermal management systems, and other applications.
Figure 1: US Graphene Market, by Product, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The US Graphene market segmentation, based on End-use Industry includes Electronics, Aerospace & Defense, Energy, Automotive, and Others. The electronics segment dominated the market mostly. Graphene's exceptional qualities, including its electrical and thermal conductivity, light weight, and others, contribute to its great demand in the electronics sector. Graphene finds its application in various products such as conductive inks, touch screens, batteries, and optical electronics. Optoelectronic devices employ graphene-based photonic crystals. Significant development prospects for the graphene business have resulted from the growing uses of graphene in electrical devices, electric vehicles, semiconductors, and other areas.
Over the course of the forecast period, the US market is anticipated to grow at a very rapid rate in terms of revenue. Paints and coatings are among the building products made with graphene, and their manufacturing is a major driver of the market's revenue growth. It provides superior heat and electrical conductivity for the creation of conductive paints. Additionally, it is used in many automotive applications, such as tires, car batteries, and composite structural components, which is fueling the region's market's revenue growth. Another reason boosting the growth of the US market's revenue is graphene's excellent conductivity and visual transparency, which make it a valuable material in a range of user interfaces, including touchscreens and liquid-crystal displays. Furthermore, due to the development of graphene-based goods that address the shortcomings of earlier materials, the market is experiencing technical improvements. For instance, a process for producing graphene batteries employing electrodes with thermally stable separators and non-flammable electrolytes was developed in 2022 by the American business Nanotech Energy. The technology, according to the business, eliminates the safety barrier faced by lithium-ion batteries and offers higher cell performance. As such, market expansion is anticipated to be fueled by this technology's success.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the graphene market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, graphene industry must offer cost-effective items.
Major players in the graphene market are attempting to increase market demand by investing in research and development operations includes NeoGraf Solutions (U.S.), Graphenea (U.S.), ACS Material (U.S.), XG Sciences (U.S.), U.S. Graphene Group (U.S.), Grolltex Inc (U.S.), and Graphite Central (U.S.).
NeoGraf Solutions (U.S.)
Graphenea (U.S.)
ACS Material (U.S.)
XG Sciences (U.S.)
U.S. Graphene Group (U.S.)
Grolltex Inc (U.S.)
Graphite Central (U.S.)
March 2023: The two main operating companies of Applied Graphene Materials PLC, Applied Graphene Materials UK Limited and Applied Graphene Materials LLC, have been acquired by Universal Matter UK Limited, a wholly-owned subsidiary of Universal Matter Inc. The company's market position has been reinforced by the acquisition.
March 2022: For the purpose of GMG's significant graphene production expansion initiatives, Amec Foster Wheeler PLC and Graphene production Group Ltd. signed a non-binding Letter of Intent. As per the terms of the deal, Wood would assist GMG in expanding and mechanizing its exclusive natural gas to graphene production method.
Graphene Oxide
Graphene Nanoplatelets (GNP)
Others
Electronics
Aerospace & Defense
Energy
Automotive
Others
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.6 Billion |
| Market Size 2023 | USD 0.75 Billion |
| Market Size 2032 | USD 3.121 Billion |
| Compound Annual Growth Rate (CAGR) | 19.50% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, End-use Industry, and Region |
| Country Covered | US |
| Key Companies Profiled | NeoGraf Solutions (U.S.), Graphenea (U.S.), ACS Material (U.S.), XG Sciences (U.S.), U.S. Graphene Group (U.S.), Grolltex Inc (U.S.), and Graphite Central (U.S.) |
| Key Market Opportunities | Increasing development and research projects graphene's environment |
| Key Market Dynamics | Increasing application of graphene in the healthcare field Growing need for graphene for electrical and electronic applications at a rapid pace |
US Graphene Market Highlights:
Frequently Asked Questions (FAQ) :
The US Graphene market size was valued at USD 0.6 Billion in 2022.
The market is projected to grow at a CAGR of 19.50% during the forecast period, 2024-2032.
The key players in the market are NeoGraf Solutions (U.S.), Graphenea (U.S.), ACS Material (U.S.), XG Sciences (U.S.), U.S. Graphene Group (U.S.), Grolltex Inc (U.S.), and Graphite Central (U.S.)
The graphene nanoplatelets (GNP) category dominated the market in 2022.
The electronics category had the largest share in the market.
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
