The global graphene market was valued at US$ 53.5 Mn in 2018 and is expected to register a CAGR of 44.7%, in terms of revenue over the forecast period (2019-2027), to reach US$ 1,421.2 Mn by 2027.

A single layer of atoms is securely bonded in a hexagonal honeycomb lattice to form graphene. It is the lightest and strongest substance available, being thinner than paper and stronger than steel. Composites and coatings, electronics, biomedical, membranes, sensors, and energy all use it. Furthermore, due to its features like high surface area and adsorption capabilities, graphene is regarded as an effective catalyst in the chemical industry. Increasing global chemical demand is predicted to boost graphene demand, propelling the global graphene market forward. According to the 'European Chemical Industry Council,' global chemical sales increased by 4.6 percent in 2017, from US$ 3,714.57 billion in 2016 to US$ 3,884.48 billion in 2017.

The poisonous nature of the Graphene Market and the danger involved in the graphene manufacturing process, on the other hand, is likely to be a major limitation on the global graphene market's growth over the forecast period. According to a study published in the 'Journal of Food and Drug Analysis' in 2014 titled 'Assessment of the toxic potential of graphene family nanomaterials,' the majority of graphene-based materials currently available are cytotoxic or genotoxic, which may pose a threat to the global graphene market's growth.

Important Developments

The Graphene Market is predicted to rise due to the increasing use of graphene in the creation of various instruments and equipment. In August 2019, researchers at the Chalmers University of Technology in Gothenburg, Sweden, developed a graphene-based quantum-limited detector.

The use of graphene in the healthcare industry is also predicted to help the Graphene Market grow. For example, in August 2019, researchers from Saudi Arabia's King Faisal University reported the invention of a hybrid nanoparticle made up of a Doxorubicin-loaded reduced graphene oxide stabilized with chitosan for the photothermal delivery of Doxorubicin in the treatment of prostate cancer.

Graphic AB, BGT Materials Limited, Graphenea SA, Graphene Square Inc., ACS Material, LLC, Chongqing Moxi Technology Co., Ltd, Grolltex Inc., CalTech AS, Thomas Swan & Co. Ltd, and XG Sciences Inc. are some of the major competitors in the worldwide graphene industry.