News & Insights | Textile Industry

Graphene Coating Market worth $496 million by 2028 – At a CAGR of 29.4%

Published: January 9, 2024

Author: TEXTILE VALUE CHAIN

As per the recently published report by MarketsandMarkets™, The “Graphene Coating Market by Product Type (Solvent-based and Water-based), Application (Corrosion-resistant Coating, Scratch-resistant Coating, Antifouling Coating, Flame-retardant Coating), End-use industry, and Region – Global Forecast to 2028″, is estimated at USD 137 million in 2023 and is projected to reach USD 496 million by 2028, at a CAGR of 29.4% from 2023 to 2028. Demand for graphene coating is rising across a range of applications, including automotive, aerospace, medical, marine, and electronics, among others. Additionally, the graphene coating has increased demand for corrosion-resistant coating in recent years.

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160 Market data Tables
60 Figures
220 Pages and in-depth TOC on “Graphene Coating Market – Global Forecast to 2028”

This report also provides a comprehensive analysis of the companies listed below:

Major players operating in the graphene coating market include NanoXplore Inc. (Canada), Vorbeck Materials Corp (US), Universal Matter (Canada), Xiamen Knano Graphene Technology Co., Ltd (China), Graphenea Inc. (Spain), Grafoid Inc.(Canada), KISHO Corporation Co., Ltd. (Japan), Haydale Graphene Industries PLC (UK), Directa Plus S.p.A. (UK), Petroliam Nasional Berhad (PETRONAS) (Malaysia), Global Graphene Group (US), Deyang Encarbon Technology Co., Ltd. (China). These companies have reliable manufacturing plants and well-established distribution networks that reach across key areas like North America, Europe, and the Asia Pacific. They have a well-known range of top-notch products and services, a commanding market presence, and solid business plans. Additionally, these businesses control a sizeable portion of the market, provide goods with a variety of uses, serve a large geographic area, and maintain a vast variety of items.

Recent Developments in Graphene Coating Market Industry

In June, 2023, Graphite One Inc and Vorbeck Materials Corp teaming agreement will target transformative applications in bothe commercial and defense sectors.
In Feb, 2023, Universal Matter has agreed to acquire all shares of Applied Graphene Materials UK Limited and Applied Graphene Materials LLC, the main operating subsidiaries of Applied Graphene Materials plc, for a total consideration of USD 1.3 million. This acquisition will significantly enhance Universal Matter’s dispersion and application capabilities for advanced paints and coatings.
In Feb 2022, Ethos Car Care has partnered with Petty GMS as an associate sponsor for the 2022 NASCAR Cup Series season.

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Based on the Application the market has been divided into a number of applications, such as corrosion-resistant, scratch-resistant, antifouling, flame retardant coating and others. Graphene coating’s versatility and range of properties make it suitable for a broad range of applications, in automotive and medical to industrial uses. Its resistance to moisture, durability, and ease of maintenance make it a reliable choice in various industries. The corrosion-resistant and scratch resistant is predicted to dominate the application segment in the global graphene coating market.

Based on the end use Industry, Graphene coatings have gained significant traction across various end-use industries such as automotive, aerospace, electronics, medical, marine and industrial due to their exceptional properties and diverse applications. Graphene coatings are widely used in the automotive industry for scratch-resistant coatings, corrosion-resistant coatings, and anti-fouling coatings. These coatings provide enhanced durability, protection, and sustainability, addressing the industry’s need for high-performance materials. The graphene coatings are used in biomedical implants, device surfaces, and other medical applications in medical end use industry.

Based on product type, there are two types of graphene coatings categorized solvent-based and water-based. The need for eco-friendly and sustainable coatings is leading to increased use of water-based graphene coatings. These coatings offer improved sustainability and environmental benefits, aligning with the focus on environmental regulations and sustainability initiatives. Due to these reasons water-based graphene coating is expected to witness the higher CAGR.

Based on region, From 2023 to 2028, the graphene coating market is projected to grow with the highest compound annual growth rate (CAGR) in the Asia Pacific region. China accounted for the largest market share of the Asia Pacific graphene coating market in 2022. Due to the considerable and fast growing population in the region, there is a greater need for cars, frequent travel by air, and electronics. For this purpose of protection graphene coating is the best choice. This demand is largely driven by the automotive and aerospace industry in the Asia-Pacific region, which is well-known for its manufacturing hub. Furthermore, the growth of the middle class in nations like China and India has increased disposable money, which has led to a spike in the market of graphene coatings. In addition, the region’s impressive economic expansion has supported the growing demand for graphene coatings in a variety of industries, including marine, construction, and textile along with the development of industrial applications and infrastructure.

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