| Study Period | 2019 - 2030 |
| 2024 Market Size | USD 262.3 Million |
| 2025 Market Size | USD 343.8 Million |
| 2030 Forecast | USD 1369.7 Million |
| Growth Rate (CAGR) | 31.8% |
| Largest Region | APAC |
| Fastest Growing Region | APAC |
| Nature of the Market | Fragmented |
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The global graphene market is valued at USD 262.3 million in 2024, and it is expected to grow at a CAGR of 31.8% during the forecast period (2025–2030), to reach USD 1369.7 million by 2030. The key factors responsible for the growth of the market include the rapidly increasing demand for graphene for electrical & electronics applications and the rising new application of graphene in the medical sector.
In recent years, numerous studies have been conducted, in order to develop new applications of graphene, particularly in the medical sector, such as medical devices and diagnostic tools, and for drug delivery and genetic material transfer. With the increasing focus on development of new applications, the demand for graphene in the medical sector of developed countries, such as the U.K. and the U.S., is expected rise during the forecast period.
Graphene holds the properties of high strength and thinness, which make it suitable for the development of bioelectric sensory devices, for monitoring glucose, hemoglobin, and cholesterol levels, as well as DNA testing. Graphene is also helpful in the treatment of cancer cells, and finds applications in dental implants, therapeutic tools, and prosthesis devices. With the increasing applications of graphene in the medical sector, its demand is likely to increase during the forecast period.
Graphene is also vastly used in electronic devices for smart and flexible displays, as well as in semiconductor devices, owing to its unique properties of high conductivity and thinness. With the increasing consumption of electronic devices and growth in the electrical & electronics industry, particularly in APAC nations, such as China, India, and South Korea, the demand for graphene is likely to increase. In addition, increasing investments in the electrical & electronics sector are also expected to boost the market growth, globally.
The powder category holds the largest share, of around 49%, in the graphene market in 2024, and it will also witness the highest CAGR during the forecast period. This is majorly attributed to the high preference for graphene powder for usage in batteries, sensors, and printing technologies. In addition, powdered graphene is easier to handle in comparison to graphene in the form of dispersions and flakes. With the development of new applications of graphene powder, its demand is expected to further increase during the forecast period.
The following forms have been considered:
The electrical & electronics category dominates the market, and the same scenario is expected throughout this decade. This can majorly be ascribed to the increasing consumption of graphene for usage in flexible displays, coatings for touch screens, precise sensors, and others, owing to its high mechanical strength and excellent electrical conductivity properties.
The biomedical category is expected to witness the fastest growth during the forecast period, based on application. This can be majorly due to the increasing usage of graphene in manufacturing of hemoglobin, cholesterol, and glucose-measuring bioelectric sensory devices, owing to the fact that this material is thin and strong. Moreover, graphene is also used in the cancer treatment, prosthetic devices, and deoxyribonucleic acid (DNA) testing.
The applications analyzed are as follows:
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Geographically, APAC holds the largest share in the graphene market, and it is also expected to experience the fastest growth during the forecast period. This can be attributed to the to the increasing adoption of graphene for applications in composite materials for lightweight aircraft and automotive vehicles, and electrical & electronic devices, particularly in developing countries, such as China, India, and several Southeast Asian nations.
The rising disposable income in the region is a key market driver as it allows people to spend more on consumer electronics and other luxuries. According to the Press Information Bureau, the gross national disposable income in India was INR 273.99 lakh crore in FY 2022–23, compared to INR 239.25 lakh crore in FY 2021–22.
In recent years, the adoption of graphene for applications in the electrical & electronics industry has witnessed a rapid pace, owing to its excellent conductive properties that make it suitable for usage as a transparent conductor for touch screen devices and transparent flexible memory chips. Thus, increasing demand for electrical devices in developing nations is expected to propel the demand for graphene in the region.
In addition, with the ongoing R&D activities for development of new applications of graphene for usage in other industries, such as medical, the market for graphene holds a strong potential of growth. Moreover, the presence of key players in the region boosts the market growth.
Below is the regional breakdown of the market:
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