PUBLISHER: BIS Research | PRODUCT CODE: 1268559
PUBLISHER: BIS Research | PRODUCT CODE: 1268559
“Global 2D Materials Market to Reach $4,000.0 Million by 2031.”
Global 2D Materials Market: Industry Overview
The global 2D materials market is projected to reach $4,000.0 million by 2031 from $526.1 million in 2022, growing at a CAGR of 25.3% during the forecast period 2022-2031.
The demand for 2D materials is anticipated to grow with the increasing demand from the end-use industries such as composite and coatings, energy storage devices, electronics, semiconductors, pharmaceuticals, automobiles, and others. Furthermore, it is anticipated that during the projected period of 2022-2031, the increasing adoption of 2D materials in the healthcare industry and the increasing adoption of non-graphene 2D materials such as Mxene, TMDCs, Hexagonal boron nitride, and others are expected to further fuel the advancement of the global 2D materials market. However, the high cost of production is anticipated to hinder market growth in the upcoming future.
Market Lifecycle Stage
The global 2D materials market is in the growth phase. Rising sales of fuel cell vehicles and increasing focus on decarbonization and controlling pollutants are expected to boost market growth. Furthermore, due to high demand from the end-user industries and growing demand for transparent conductive films (TCF) in the electronics industry are expected to increase the demand for the 2D materials market. Moreover, the global 2D materials market is expected to benefit from the expanding market of nanomaterials, which is expected to promote market expansion. The requirement for 2D materials is being stimulated by photovoltaics and sports equipment as well.
Industrial Impact
Impact of COVID-19
The 2D materials market was affected moderately by COVID-19. The sales of fuel cell vehicles (FCVs) reduced significantly in 2020, with only 937 vehicles sold in the U.S., according to the California Fuel Cell Partnership. However, the sales rebounded spectacularly in 2021, increasing by 257% year-over-year and around 3,341 fuel cell vehicles sold. However, in the healthcare industry, the 2D materials market was among the few markets that were positively affected by COVID-19, and the market has since continued its growth. The COVID-19 outbreak has increased the use of 2D materials in the biomedical sector as they aid in infection control practices. Furthermore, 2D materials are also utilized in the production of biosensors to detect viruses and infections. Typically, synthesized 2D material-based biosensors provide simple, economical, perceptive, and easily adaptable SARS-CoV-2 detection.
Market Segmentation:
Segmentation 1: by End User
Based on end user, the composite and coatings segment led the 2D materials market in 2021 and was the largest segment due to the rising consumer demand for consumer electronics, interactive packaging, radiofrequency sensing, and other products, which is driving an increase in interest in flexible energy storage battery technology.
Segmentation 2: by Material Type
Based on material type, the graphene segment dominated the 2D materials market in 2021 and was the largest segment owing to growing demand from end-use industries such as consumer electronics, medical devices, aerospace and defense, and semiconductor, owing to its higher electrical and thermal conductivity.
Segmentation 3: by Region
In the global 2D materials market, China dominates the market due to the strong presence of end-use industries such as photovoltaics, automotive, and others, along with the largest graphite deposit worldwide and growing sales of fuel cell vehicles.
Recent Developments in the Global 2D Materials Market
Demand - Drivers and Limitations
The following are the demand drivers for the global 2D materials market:
The market is expected to face some limitations as well due to the following challenges:
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader to understand the different material types involved in 2D materials. Moreover, the study provides the reader with a detailed understanding of the global 2D materials market based on the end user (composite and coatings, energy storage devices, electronics, semiconductors, pharmaceuticals, automobiles, and others). 2D materials are gaining traction in end-user industries on the back of sustainability concerns and their high durability properties. They are also being used for controlling greenhouse gas (GHG) emissions.
Growth/Marketing Strategy: The global 2D materials market has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The favored strategy for the companies has been product developments, business expansions, and acquisitions to strengthen their position in the global 2D materials market. For instance, in September 2022, NanoXplore purchased XG Sciences' assets. This procurement greatly enhances its intangible assets associated with graphene and battery materials augmented by graphene, and it also expedites the industry's entry into the rechargeable batteries material market.
Competitive Strategy: Key players in the global 2D materials market analyzed and profiled in the study involve 2D materials manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the global 2D materials market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.
The global 2D materials market has been segmented by different end users, among which composite and coatings captured around 35.1% of the market as of 2021. Other end users, including energy storage devices, accounted for around 22.7%, the electronics industry accounted for 14.9%, semiconductor accounted for 6.1%, pharmaceutical accounted for 3.1%, automobiles accounted for 8.2%, and other end-use industry accounted for 9.9% of the total demand in 2021 in terms of value.
Some of the prominent established names in this market are:
Company Type 1 (by Material Type): Graphene
Company Type 2 (by Material Type): Black Phosphorus
Company Type 3 (by Material Type): Mxene
Company Type 4 (by Material Type): TMDCs
Company Type 5 (by Material Type): Hexagonal Boron Nitride
Companies that are not a part of the previously mentioned pool have been well represented across different sections of the report (wherever applicable).