A category of nanomaterials known as two-dimensional (2D) materials is distinguished by the fact that they are only one or two atoms thick. Currently, the substance that is most frequently connected to 2D materials is graphene. Two-dimensional materials are noteworthy for their high durability, compact size, flexibility, and outstanding electrical and thermal conductivity. This group of materials contains substances that resemble plates, such as hexagonal boron nitride, graphene, Mxenes, and black phosphorus. 2D materials are used in various applications, including consumer electronics, aerospace and defense, semiconductors, biomedical, composites and coatings, automobiles, and energy storage devices, among others.
Read Report Overview: 2D Materials Market
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.
Composite and Coatings Segment to Lead the 2D Materials Market (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. 2D materials have a wide range of uses and offer potential as applicants for energy (hydrogen) storage, supercapacitors, and batteries.
Graphene Segment to Dominate the 2D Materials Market (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. In recent times, the rise in the demand for sensors, detectors, lighting components, and other components is increasing and seeking the interests of industrialists, which is helping to create demand for 2D materials such as graphene.
China to Dominate the 2D Materials Market (by Region)
Based on region, China region dominates the 2D materials market due to the presence of a large manufacturing industry for consumer electronic devices, medical devices, self-driving vehicles, and semiconductors. Furthermore, China’s fast-developing economy and the presence of leading industry players across the 2D material component’s supply chain are having a prominent effect on the growth of the 2D materials market.
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Recent Developments in the Global 2D Materials Market
- In September 2021, Colloids Limited introduced a new infrastructure for customized polymeric materials using its ground-breaking graphanced graphene masterbatch advanced technologies. Due to its extraordinary qualities, graphene has attracted a lot of attention. Additionally, it has exceptional mechanical characteristics as well as superior thermal and electrical permeability.
- In December 2021, Black Swan Graphene Inc. signed a legally enforceable letter of intent to purchase Dragonfly Capital Corp., in a backward merger agreement for $31.5 million. On December 13, 2021, Black Swan Graphene Inc. and Dragonfly Capital Corp. agreed to communicate shares in an opposite merger transaction. Stockholders of Black Swan would then obtain 15.2 consideration shareholdings for every ordinary Black Swan share they own.
- In September 2022, NanoXplore purchases 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.