The global graphene market is expected to reach a value of $646.8 million by 2030, increasing from $87.5 million in 2019, progressing at a 20.2% CGAR during the forecast period (2020–2030). The market is growing due to the rising demand for graphene in the electrical & electronics sector and wide applications of the compound in the medical industry. On the basis of form, the market is divided into dispersion and powder.

Between these two, the powder division is projected to account for the major share of the market during the forecast period. Graphene powder is primarily preferred by sensors, printing technologies, and batteries. In addition to this, graphene is much easier to handle in the powder form rather than in the form of dispersion and flakes. Based on application, the graphene market is categorized into biomedical, electrical & electronics, energy, and composites.

Among all these, the composites category is projected to register the fastest growth during the forecast period. Graphene is extensively being adopted for metal and polymer composites, since it provided electrical conductivity and appreciable strength to the product. In addition to this, graphene composites are predicted to be used widely for the production of engineering materials for aerospace, medical implants, and renewables in the coming years, which can be ascribed to the increasing research and development projects that are being initiated in the domain.

Geographically, the graphene market was dominated by Asia-Pacific (APAC) during the historical period (2014–2019). The compound is extensively being utilized in energy, medical, and electrical & electronic sectors in the region, majorly in China. In addition to all this, the application of graphene in aerospace and automotive industries is increasing in countries including South Korea, India, and China. Other than this, North America is predicted to progress at the fastest pace during the forecast period, owing to the wide usage of graphene in composites, which are then utilized in a number of industries.

The expanding medical application of the compound is a major driving factor of the graphene market. Since graphene possesses high strength and is extremely thin, it is being utilized for manufacturing bioelectric sensors. These sensors tracks the level of cholesterol, glucose, and hemoglobin in a patient. The compound is further being utilized in dental implants, therapeutic tools, treatment of cancer, and prosthesis devices. Further research has been going on for combining graphene nanomaterials with vaccine carriers, nano adjuvants, and medications, in order to make these materials more compatible with human immune cells.

A key trend that is being witnessed in the graphene market is the commercialization of the product. The commercialization of graphene is being facilitated by its easy availability and wide R&D activities for widening the application area of this product. While before, flakes and sheets of this material were used primarily in laboratories, the commercialization of graphene has increased its use in the production of digital displays, sports goods, conductive inks, and automotive coatings.

In conclusion, the demand for graphene is growing due to the increasing application of this product in the medical sector and its rising commercialization.