Graphene Coatings Market Research, 2031
The global graphene coatings market was valued at $1.4 million in 2021, and is projected to reach $17.9 million by 2031, growing at a CAGR of 29.9% from 2022 to 2031.
Graphene coatings are coatings that either contain graphene or integrate graphene into their construction. These coatings offer increased properties and benefits such as water resistance, anti-corrosion, solar paints, and the ability to promote segregation in buildings to which they are applied.
Numerous innovative coatings, paints, inks, and other applications can be created as a result of graphene's diverse collection of exceptional properties. Graphene's high resistivity can be used to make long-lasting coatings that are resistant to water and oil. Because of its exceptional electrical and thermal conductivity, it can be utilised in the production of conductive paints. Additionally, because of its powerful barrier effect, it can be utilized in the production of coatings that are resistant to oxidation, scratches, and UVA rays. Graphene coatings have a wide variety of potential applications. The high adhesion that graphene possesses enables it to be utilised in the production of anti-bacterial coatings, high-performance adhesives, house-isolating paints, solar paints, anti-rust coatings, UV ray blockers and anti-fog paints. Graphene can also be used to create non-stick coatings for a variety of different domestic applications.
Conductive graphene coatings are in high demand in the aerospace industry, where they are utilized to cover aircraft surfaces to protect them against electrical damage caused by lightning strikes. It is also used to detect strain rate, alerting the pilot to any variations in stress levels experienced by the aircraft wings during flight. However, the lack of global penetration due to a lack of awareness about the benefits and the product itself, as well as the inability to mass produce, may act as a major restraint on the graphene coatings market growth rate during the forecast period, whereas high production costs may pose a challenge to the graphene coatings market growth during the forecast period. Furthermore, the growing pharmaceutical, coatings, energy, and electronics markets, as well as rapid technical breakthroughs and a greater emphasis on research and development activities, will provide a variety of growth opportunities for the graphene coatings market.
During the projected period, it is anticipated that the automobile industries in South Korea and Japan will expand. It is anticipated that as the population grows, automobile production will increase. . Consequently, the rise in automobiles will benefit the market. Japan is predicted to be the primary supplier of graphene coating throughout the forecast period, followed by China and South Korea. Demand for regional goods rises as a result of important end-use industries including electronics, transportation, and defence. Increasing discretionary expenditure, especially in China and India, also helps the business grow.
Graphene coatings market is segmented on the basis of application, end-use industry and region. Depending on application, the market is categorized into scratch resistant coatings, corrosion, resistant coatings, anti-fouling coatings, pollution adsorption coatings, flame retardant coatings and others. Depending on end-use industry, the market is categorized into Automotive, Marine, Medical, Industrial, Electrical and Electronics and Others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific and LAMEA.
Major players operating in the global Graphene coatings market include ACS Material, Advance Industrial Coatings LLC, Applied Graphene Materials, Artdeshine Pte. Ltd, Directa Plus S.p.A, G6 Materials Corp, Graphenea, Graphite Central, Haydale Graphene Industries Plc, KNV'S Incorporation, NanoXplore Inc., Supervac Industries LLP, Surface Protective Solutions, Thomas Swan & Co. Ltd., XG Sciences.
Other players operating in the Graphene coatings market are AI Coating, Dongguan Sheerfond New Material Co. Ltd, Ethos, China Carbon Graphite Inc.
The scratch resistant coatings accounted for the largest share i.e., 22.8% and is expected to grow at a CAGR of 29.5% over the forecasted period. Scratch resistant coatings are widely used in automotive industry. Growing automobile industry owing to increased income and population will drive the demand for graphene coatings.
The industrial segment accounted for the largest share i.e., 19.8%. Medical industry is projected as the fastest growing segment, growing around 31.9% CAGR over the forecasted period. Graphene coatings enhance adhesion of cells, osteogenic differentiation, and promote antibacterial activity to parts of titanium unaffected by the thermal treatment. Furthermore, the graphene layer can improve the surface properties of implants which can be used for biomedical applications.
Asia-Pacific contributed the 14.3% market share in 2021 and is projected to grow at CAGR of 37.8% during the forecast period. Asia-Pacific region has huge presence of automobile, medical and electronics industry. Increasing population in the region is boosting the above mentioned industries.
Japan and South Korea Overview
- Japan garnered 8.4% and south korea garnered 12.1% market share in Asia-Pacific region.
- Rapid industrialization and increased investments in the medical and automotive industries in the emerging economies of South Korea, and Japan, these countries are anticipated to be the fastest-growing market.
- Companies have intensified R&D in carbon nanomaterials in response to increasing demand from several end-use sectors in the area of Japan and China, which is projected to have a favorable effect on the carbon nanomaterials market.
IMPACT OF COVID-19 ON THE GLOBAL GRAPHENE COATINGS MARKET
- COVID-19 has spread across the globe and effected almost all aspects of life.
- The international aerospace industry was likely the most severely hit by the COVID-19 pandemic: airlines, airports, and other market participants all faced significant revenue losses, prompting a vigorous, short-term, and disruptive reaction.
- As result manufacturers of graphene-based coatings supplying to this industry were heavily affected which ultimately caused a drop in the demand.
- During the pandemic, liquidity-strapped automotive suppliers gave in to rapidly deteriorating market conditions, causing enormous disruption and disastrous effects throughout the world's car manufacturing business. As a result, the application of graphene coatings in this business also faced difficulties.
- However, after the pandemic, as the demand will return to normal after the restrictions were lifted, market participants in this market have explored for measures to minimize the pandemic's impact on their business.
- As the restrictions are lifted, the demand from automotive industry is increasing, which is increasing the demand for graphene coatings.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the graphene coatings market analysis from 2021 to 2031 to identify the prevailing graphene coatings market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the graphene coatings market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global graphene coatings market trends, key players, market segments, application areas, and market growth strategies.
Graphene Coatings Market Report Highlights
| Aspects | Details |
 By Application |
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 By end use Industry |
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 By Region |
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 Key Market Players | Artdeshine Pte. Ltd, ACS Material, XG Sciences, thomas swan & co. ltd., Directa Plus S.p.A, Supervac Industries LLP, KNV'S Incorporation, Graphenea, NanoXplore Inc, Graphite Central, Haydale Graphene Industries Plc, Advance Industrial Coatings LLC, Surface Protective Solutions, G6 Materials Corp, applied graphene materials |
Analyst Review
According to the perspective of the CXOs of leading companies, the graphene coating market has expanded significantly as a result of the product's high demand due to its numerous advantages. Accordingly, a significant factor supporting the growth of the graphene-based coatings market is the high development of these coatings due to their exceptional impermeability to gases, adsorption capacity, anti-bacterial properties, chemical resistance, mechanical strength, lubricity, and thermal stability. The market for graphene coating is expanding as a result of the quick expansion of end-use sectors, rising levels of innovations, and quick advances in technology that have led to rising levels of applications. The market is expanding primarily as a result of the rising need for stable, lightweight, renewable, and flexible materials.
Increased demand from various end-use industry like marine, automotive and electrical & electronics is driving the demand Graphene Coatings market growth.
The graphene coatings market attained $1.4 million in 2021, and is projected to reach $17.9 million by 2031, growing at a CAGR of 29.8% from 2022 to 2031.
Industrial graphene coatings is the leading application of Graphene Coatings Market.
North-America is the largest regional market for Graphene Coatings.
Ongoing research in the filed of electrical & electronics industry for the usage of graphene coatings are the upcoming trends of Graphene Coatings Market in the world.
The COVID-19 outbreak has severely affected several industries such as automobile and industrial manufacturing activities causing a temporary shutdown of manufacturing plants, leading to a drop in sales and disturbance in the supply–demand chain. This disruption in sales has affected the demand and consumption of products, leading to a substantial decline in market growth.
ACS Material, Advance Industrial Coatings LLC, Applied Graphene Materials, Artdeshine Pte. are the top companies to hold the market share in Graphene Coatings.
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