Graphene Coatings Market Expected to Reach $17.9 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Graphene Coatings Market," The graphene coatings market was valued at $1.4 million in 2021, and is estimated to reach $17.9 million by 2031, growing at a CAGR of 29.9% from 2022 to 2031.

Graphene is an atom-thick layer of carbon atoms in its ultimate nano block form with numerous morphologies; the arrangement of carbon atoms in this layered substance gives it extraordinary strength and conductivity. It combines thermal and electrical efficiency in a transparent system with distinct optical properties. Graphene coatings are carbon-based nanoparticles that are utilized as a car detailing solution. Many big brands offer graphene coating with ten-year warranties.

Graphene is an extremely diverse material, and can be combined with other elements (including gases and metals) to produce different materials with various superior properties and possible applications, which include:

• Manufacturing of batteries and transistors.
• Manufacturing components of solar cells.
• Non-stick coatings with a silky-smooth finish.
•  Energy generation.
• Water filters.
• Touchscreens (for LCD or OLED displays).
• Super capacitors and computer chips.

Owing to these applications, graphene coating is used in a wide range of use case in majority industries such as, anti-corrosion coatings and paints, efficient and precise sensors, faster and efficient electronics, flexible displays, efficient solar panels, faster DNA sequencing, drug delivery, and more. Furthermore, the graphene coating market is expanding, with more mainstream companies participating, and the fraction of patent-related products with value applications exceeds the number of graphene coating production. Chemical vapor deposition allows for greater formats and quantities at lower prices, allowing some companies to generate up to tones of graphene coating with mass consistency. Currently, corrosion protection is one of the coating application areas garnering the most attention. Graphene, when properly included into solvent or water-based coatings, can provide superior anti-corrosion performance and improved corrosion control for asset life extension, maintenance expense reduction, and more sustainable protection solutions. Such characteristics provide a broad range of growth opportunities for the graphene coating market.

However, the outbreak of the COVID-19 and strict containment measures imposed by governments is hindering the demand for graphene coatings. Closings of industries in the second quarter, has resulted in a significant drop in demand for graphene coatings. This factor is estimated to hinder the growth of graphene coating market. The favorable thermal and electrical conductivity properties of graphene is another factor that has led to a significant increase in demand and growth opportunities for graphene coatings in the US automotive industry. The ease of application, waterproofing performance and improved conductive properties of graphene compared to ceramic are expected to increase the demand for graphene coatings market.  According to researchers and some scientists around the world, graphene has become the strongest and thinnest material in the world, thanks to which graphene coating has become a popular protection solution in recent years. While the automotive sector is expected to provide some opportunities for global and U.S graphene coating market participants, the aerospace industry is expected to emerge as a new industry. .

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 defense. Increasing discretionary expenditure, especially in China and India, also helps the business to grow.

The global graphene coatings market is segmented into application, end-use industry and region. Depending on application, the market is classified into scratch resistant coatings, corrosion resistant coatings, anti-fouling coatings, pollution adsorption coatings, flame retardant coatings and others. On the basis of end-use industry, it is categorized into automotive, marine, medical, industrial, electrical and electronics and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

The major players operating in the global graphene coatings market are 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.

Key findings of the study

• The report outlines the current graphene coatings market trends and future scenario of the market from 2022 to 2031 to understand the prevailing opportunities and potential investment pockets.
• The market size is provided in terms of revenue and volume.
• On the basis of application, the scratch resistant coatings is expected to grow at a CAGR of 29.4% and has garnered 22.8% market share in terms of revenue, during the forecast period.
• Depending on end-use industry, the automotive industry is expected to grow at a CAGR of 29.3%, in terms of revenue, during the forecast period.
• Region wise, North-America has garnered a share of 35.7% in 2021 in terms of revenue.

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.
• As the restrictions are lifted, the demand from automotive industry is increasing, which is increasing the demand for graphene coatings.