The global graphene coating market is projected to reach a value of $496 million by 2028, according to a new report by MarketsandMarkets™. The market is expected to witness a compound annual growth rate (CAGR) of 29.4% from 2023 to 2028. The increasing demand for graphene coatings in various applications such as corrosion-resistant, scratch-resistant, antifouling, and flame-retardant coatings is driving the market growth.
Among the different types of graphene coatings, solvent-based products are predicted to hold the largest market share in terms of both value and volume. Solvent-based graphene coatings offer enhanced durability, conductivity, and corrosion protection, making them suitable for a wide range of protective and functional applications.
One of the key applications driving the growth of graphene coatings is in scratch-resistant coatings. Graphene coatings demonstrate exceptional mechanical strength due to the strong covalent bonds within the graphene lattice. This property makes them highly scratch-resistant, protecting surfaces from daily wear and tear. The automotive industry, in particular, is witnessing a growing demand for graphene coatings to protect vehicle exterior body panels against scratches.
The automotive and aerospace industries dominate the graphene coating market. Graphene coatings provide superior scratch resistance, protecting the paintwork of vehicles from environmental elements, UV radiation, and chemical exposure. In aerospace applications, graphene coatings are used for thermal management, reducing the risk of overheating in components and contributing to improved fuel efficiency.
The Asia Pacific region accounts for the largest market share in the global graphene coating market and is projected to experience the highest CAGR from 2023 to 2028. The region’s substantial population and impressive economic expansion have contributed to the growing demand for graphene coatings in various industries such as automotive, electronics, and aerospace.
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, highlighting their expertise and contribution to the growth of businesses in the B2B space.
Overall, the global graphene coating market is poised for significant growth in the coming years, driven by increasing demand from various industries and the exceptional properties of graphene coatings. With their durability, conductivity, and scratch resistance, graphene coatings offer a wide range of applications and immense potential for innovation.
