The Growing Graphene Market and the Shift from Carbon Nanotubes

Advanced carbon materials can be described as a family, made up of a diverse array of 3D, 2D, 1D, and 0D materials, each with its own properties and best-suited applications. IDTechEx's reports, "Graphene Market & 2D Materials Assessment 2024-2034: Technologies, Markets, Players", and "Carbon Nanotubes 2023-2033: Market, Technology & Players" provide in-depth analysis of the market impact of each material type, and their individual use cases from high-end sporting goods to R&D materials that are beginning to mature.

 

 

3D carbon materials include a variety of types, from carbon black and graphite, both synthetic and natural, to bespoke allotropes like diamond. Advanced carbon materials begin to be referred to as nano materials when one or more of their dimensions are restricted to nanoscale. 2D materials range from monolayer and bilayer graphene powder, through to graphene wafers and films, while 1D includes multiwall carbon nanotubes, with Buckminsterfullerene at 0D.

 

 

IDTechEx reports that the compound annual growth rate for each of these materials can change a lot depending on the uptake, with the report providing the impact on the market for each of the materials to date.

 

 

Graphene is single atomic layer of carbon atoms in a hexagonal lattice, though different definitions are emerging with each type of graphene having different uses and application prospects. IDTechEx's report goes into detailed analysis of these different types, including information about their qualities and grades, and reports that lower-grade graphene is known for being easier to manufacture than higher-grade alternatives.

 

Material properties that are considered amongst graphene types include carbon purity, functionalization, and commercial factors such as yield cost, scalability, and consistency. Early application opportunities for graphene include consumer goods, high-end sporting goods like athletic wear, shoes, or bicycles, and high-end audio equipment, as better performance is enabled from graphene's mechanical reinforcement and corrosion resistance.

 

Graphene's most mature application is currently R&D materials, though there are many behind it in tight competition for a leading application spot. Sports equipment and heat spreaders in smartphones and gaming products are two of the main opportunities for graphene growth, with some of the commercial indicators for high volume adoption including price, supply capacity, and material consistency.

 

 

The global production capacity of graphene is outlined in detail within the report, with benchmarks such as revenue, profit, partnerships, and funding for many different companies operating within the market.

 

 

Carbon nanotubes (CNTs) have been established for a while longer than graphene, with their characteristics including tensile strength, thermal conductivity, electrical resistivity, and a charge-carrying capacity far greater than copper.

 

The multiwall carbon nanotube market is growing at a fast rate and headed for success, according to IDTechEx, with the next wave of expansions already planned. Companies including LG Chem, Cnano, and Carbon Corp are specifically expected to lead this growth, with more production capacity and greater volumes being manufactured.

 

 

CNTs can be described as an enabler of green technologies, with a large proportion of their use being in Li-ion batteries, which are seeing great popularity in line with the rise of vehicle electrification. CNTs' contribution to sustainability and the reduction of carbon emissions allows them to take on somewhat of a sustainable reputation themselves.

 

CNT production can also be created from the process of electrolysis of captured CO₂ in molten salts, or as a by-product of methane pyrolysis for hydrogen production. Several companies are also reportedly exploring the use of waste and by-product methane as a feedstock for CNT production, highlighting the possibility for CNT to be created through more sustainable methods.

 

 

IDTechEx's report highlights 18 application areas driving the growth of graphene and CNTs, with cathodes for Li-ion batteries being the most mature technology to date. As the success of CNTs in Li-ion batteries begins to kickstart economies of scale, costs will be lowered, and high-volume production can be enabled, paving the way for new market opportunities. Conductive and reinforced composites, thermal interface materials, sensors, tires, and concrete and asphalt. Space elevators and quantum computers lie at the other end of the scale, slowly beginning their journey into early semi-commercial prototyping.

 

 

IDTechEx reports that graphene will remain a competitor for CNTs in some applications, with the value of CNT needing to be evaluated on a by-application basis, alongside the potential trade-offs and pain points.

 

CNT players are also shifting towards the graphene space as its success grows, and more opportunities for companies to expand their portfolios are presented. Many new players are also beginning to enter the graphene market, though only a few companies are attempting to target the whole space and move downstream towards material production for end products.

 

For more information, including downloadable sample pages, please visit IDTechEx's reports:

 

 

For the full portfolio of advanced materials and critical minerals market research available from IDTechEx, please see www.IDTechEx.com/Research/AM.

IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact research@IDTechEx.com or visit www.IDTechEx.com.