Meta-market analysis has identified composites, batteries, and electronics as major application areas that are likely to drive the overall development of the graphene market towards mass production. Graphene and related materials have sparked significant expectations since their practical isolation in 2004, with potential economic value and technological application opportunities. A recent scientific publication in the journal 2D Materials by researchers at Fraunhofer ISI, a Graphene Flagship partner, offers insights into the projected development of the emerging graphene market, specific segments, and potential applications.
The study reveals that the global graphene market has been steadily growing, with an estimated global annual revenue of 380 million US$ in 2022, expected to reach 1.5 billion US$ by 2027. The market reports analyzed in the study forecast compound annual growth rates of more than 20%, with expectations of significant growth in the near to medium-term future. The study also highlights the importance of understanding the development of graphene prices and production volumes to gauge market adoption.
The analysis focuses on three key application sectors for graphene: composites, batteries, and electronics. While the graphene battery market shows consistent growth, predictions for the graphene electronics and composite markets vary widely. The study also examines transnational patenting activity in these sectors, with North America, East Asia, and Europe leading in graphene intellectual property generation.
Henning Döscher, a researcher at Fraunhofer ISI, notes that emerging niche players dominate graphene production and venture into promising application fields, while market leaders are slower to capitalize on graphene opportunities. Companies like Samsung have already made significant advancements in graphene applications, particularly in the electronics sector. As the global graphene market continues to grow, companies will need to scale up production capacity rapidly to meet increasing demand.
Overall, the meta-market analysis provides quantitative and qualitative insights into the global graphene market landscape, highlighting the potential for growth and innovation in key application areas.