PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485829
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485829
2D Materials Market size was valued at USD 2,467.54 Million in 2023, expanding at a CAGR of 3.8% from 2024 to 2032.
The market for 2D materials is driven by rising renewable energy use, rising use of 2D materials in hydrogen fuel cells in electric cars, cost-cutting measures, eco-friendly standards, and government pollution-free legislation. Research and development expenditures expand the market for 2D materials. Numerous significant market participants are funding R&D to create new technologies for 2D material products, which spurs expansion. Furthermore, the size of the manufacturing process is constrained, and the cost of making 2D materials is considerable. Furthermore, limitations and standardisation prevent the 2D Materials Market from growing. In this scenario, the 2D materials industry's unique materials encounter difficulties.
2D Materials Market- Market Dynamics
Growing Research and Development Activities in the 2D Materials Market
2D materials exhibit extraordinary properties such as exceptional strength, flexibility, and electrical conductivity, making them promising candidates for various applications ranging from electronics to energy storage. Collaboration between academic institutions, research laboratories, and industrial partners has accelerated the pace of discovery and development, fostering a rich ecosystem for 2D material research. In November 2023, A new research centre at the Faculty of Engineering at Monash University supported the study and commercialization of two-dimensional materials, such as graphene, which have a wide range of uses in paints, batteries, coatings, sensors, and water treatment, among other areas.
2D Materials Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 3.8% over the forecast period (2024-2032)
Based on materials segmentation, graphene was predicted to show maximum market share in the year 2023
Based on application segmentation, consumer electronics was the leading application in 2023
Based on region, North America was the leading revenue generator in 2023
The Global 2D Materials Market is segmented based on Materials, Application, Particle Size, and Region.
The market is divided into eight categories based on application: Semiconductors, aerospace, consumer electronics, healthcare, and energy. The industry was dominated by the consumer electronics sector. This area has witnessed a rise in the popularity of materials like graphene, black phosphorus, and transition metal dichalcogenides (TMDs) because of their superior optical qualities, high carrier mobility, and outstanding electrical conductivity. Transistors, integrated circuits, sensors, photodetectors, light-emitting diodes (LEDs), and solar cells are among the devices that use these materials.
The market is divided into six categories based on materials: Graphene, Mxene, TMDCs, black phosphorus, and boron nitride are among the materials included in the 2-D Materials market segmentation. Graphene has the highest market share. It has great mechanical strength, great carrier mobility, and excellent electrical conductivity. Applications for graphene include composite materials, energy storage, electronics, and biomedicine.
2D Materials Market- Geographical Insights
The 2D Materials Market with the largest market share is in North America. The demand for autos is anticipated to rise due to factors like the number of prominent businesses operating in the nation and growing car manufacturing volumes. The US market for 2D materials is expected to be further supported over the forecast period by encouraging government policies and rising investments from both public and private entities. In terms of sales and revenue throughout the projected period, Asia Pacific is anticipated to lead the global market. The industry is being driven by major investments made in transportation, energy storage, composites, textiles, and other industries by emerging economies like China, Japan, and India. The region's developing semiconductor industry and growing manufacturing sectors are two factors that are anticipated to boost the Pacific during the forecast period.
Prominent industry participants are making significant R&D investments to broaden their product offerings, contributing to the further expansion of the 2-D Materials market. In addition, market participants are engaging in a range of strategic endeavours aimed at broadening their market reach. Notable events in this regard include the introduction of new products, contractual agreements, mergers and acquisitions, increased investment levels, and cooperation with other entities. For instance, in March 2024, Researchers at Linkoping University created a method enabling the synthesis of hundreds of new two-dimensional (2D) materials. To grow and thrive in an increasingly competitive and developing market environment, the 2-D Materials sector needs to provide affordable products.
In July 2023, GC entered into a collaborative partnership with Khalifa University of Science and Technology's Research & Innovation Center for Graphene and 2D Materials (RIC2D).
In September 2021, Colloids Limited, the UK's largest masterbatch manufacturer, launched a new facility for bespoke polymer composites using its innovative graphene masterbatch technology called Graphanced.
GLOBAL 2D MATERIALS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
2D Tech Graphene
Abalonyx AS
ACS Material,
AVANZARE
BASF SE
XG Sciences
Planar Tech,
Garmor
Nitronix
Graphenea
Versarien
Dimpora
Ossila Ltd
Others