The graphene coating market was USD 166.6 million in 2023, and it will increase to USD 979.1 million, with a 29.0% compound annual growth rate, by 2030.
This growth can be ascribed to the rising need for high-performance coatings as well as innovative manufacturing methods. Furthermore, these materials are strong and possess the possibility to decrease maintenance requirements, which complies with the increasing focus on sustainability.
The corrosion resistance category, on the basis of application, is likely to advance at the highest compound annual growth rate, of 30%, in the years to come. Surfaces coated with graphene-containing materials are stronger and last longer, as this allotrope of carbon defends against corrosion.
Automotive, oil & gas, marine, manufacturing, and infrastructure sectors strongly depend on corrosion-resistant coatings to protect their assets. The requirement for more efficient anti-corrosion products has improved owing to the rising emphasis on enhancing the beneficial lives of equipment and structures.
The medical devices category, on the basis of end user, will advance at the fastest compound annual growth rate, of 28%, in the years to come. The biocompatibility of graphene’s makes them suitable for biomedical applications, such as tissue designing, drug delivery systems, clinical inserts, and biosensors.
On the other hand, the automotive category was the largest contributor to the graphene coating market in 2023, with a 45% share. This can be mainly attributed to the fact that graphene coatings are extensively employed in various automotive components since they help in improving strength as well as overall effectiveness.
Moreover, their robust protection from corrosion makes them ideal for protecting auto components from damage or rust caused by exposure to severe environments or road conditions.
APAC is likely to advance at the fastest compound annual growth rate, of 32%, in the years to come. This can be because of the constantly surging populace in this region. The economic development in this region increases the attention to these materials across different businesses, such as automotive, aerospace, electronics, marine, construction, and medical.
In addition, the government backing as well as the dynamic consumer base for different sectors are further assisting the growth of the regional industry.
On the other hand, North America was the second-largest contributor to the industry in 2023, with a 25% share. This can be primarily because of the rising need in from energy and aerospace sectors, coupled with the high requirements for lightweight, strong, environment-friendly, and efficient products.
It is because of the surge in the need for high-performance coatings, coupled with enhanced manufacturing techniques, the graphene coating industry will continue to grow significantly in the years to come.
