Graphene is a type of carbon nanomaterial heralded as one of the breakthrough discoveries of the 21st century, with great potential in current and future applications. First isolated from graphite in 2003, it is said to be the thinnest yet the strongest material at one atom thick and 200 times stronger than steel, according to the Science+Industry Museum site. This special combination of properties makes it a wonder material that will have a significant impact on many technologies as well as the environment once fully industrialized.
Based on studies, graphene can be used as an additive to metals and plastics or a replacement for them and other materials.
Graphmatech AB, a material technology company in Sweden, is one of those looking to replace a portion of copper in current uses, especially amid a persistent supply shortage, according to Letizia Diamente in a Graphene Flagship article in 2023. Graphene Flagship is a research and innovation initiative of 126 academic and industrial partners and part of the European Commission's Future and Emerging Technologies (FET) Flagships.
“We have developed technologies to integrate graphene within metals, with the ambition to improve metal-graphene composites,” said CEO Mamoun Taher of Graphmatech AB, a Sweden-based material technology company, at a Graphene Flagship-organized webinar in 2023. “We can boost the property of metallic materials, which means that a smaller amount of metals is needed in certain applications. We are focusing on electrification applications and we also looking at using graphene-metals that are hydrogen-compatible for the hydrogen economy of the future.”
Researchers also see graphene as an alternative to silicon in transistors and other electronic components as well as a substitute for rare metals such as indium used in touchscreens in electronic devices. It can also be an option to steel and carbon composites employed in manufacturing aircraft, body armor and sports equipment. Other applications include sensors, solar cells, rust-prevention coatings and bionic implants.
China’s graphene pursuit
Graphene is included in the list of 15 new materials released by the Ministry of Industry and Information Technology. This is according to an article on The Graphene Council, a platform for networking, sharing resources and promoting its use and other 2D materials. The same source said that these materials are what “the Chinese government hopes will create new sources of economic growth.”
In fact, universities, research institutions and manufacturers have been pursuing graphene development for more than a decade now. Two recent breakthroughs were from the Chint Group and CATL, top players in electronics and lithium batteries, respectively.
Chint has realized graphene-copper composite materials exhibiting high conductivity under normal temperatures. Specifically, the company achieved conductivity of 109.6 percent based on IACS (International Annealed Copper Standard) with one- to 10-layer graphene films and 30 to 95 percent with graphene-coated copper. These new materials have been tried by Chint in its charging plugs, transformers, wires and cables.
CATL has developed graphene-based lithium batteries for electric vehicles. Compared to conventional types, these batteries have an energy density higher by 20 percent and require a charging time shorter by 30 percent, in addition to supporting over 600km travel.
Jiangsu Cnano, also a leading company in graphene R&D, has produced supercapacitors using the material. These passive components are already being used in electric buses, enabling them to fast-charge within 30 seconds.
As of 2024, the number of papers published and patent applications on graphene in China accounted for three-fourths of the global total, according to Liu Zhongfan as mentioned in an article posted on the Shandong province website. Liu is an academician at the Chinese Academy of Sciences and the founding head of the Beijing Graphene Institute when it opened in 2018.
China’s major role in graphene research is in the 2017 report made by the National Science Library, Chinese Academy of Sciences and the Chemical Abstracts Service, a division of the American Chemical Society.
Number of graphene ventures
Thanks to active support from both central and local governments, the number of graphene companies in China continues to increase.
By the end of June 2020, there were 16,800 related enterprises registered in the Administration for Industry and Commerce, according to Liu. Spread across 21 cities and provinces, 29 industrial parks, 54 research institutes, eight innovation centers and 12 alliances were set up during this period as well.
In 2013, Tsinghua University and the Institute of Metal Research, Chinese Academy of Sciences established the China Innovation Alliance of the Graphene Industry. The goal was to provide a platform for upstream and downstream companies and accelerate industrialization.
About 2,500 new enterprises registered in the first quarter of 2025, according to commercial platform Tianyancha.
The top five hubs are Guangdong, Shandong, Jiangsu, Zhejiang and Fujian. More than 21,000 companies are found in the first three provinces, representing 28 percent of China’s pool.
As suppliers swelled the graphene industry in China, prices plunged in the past decade, hitting $69.44 per kilogram from a high of $1,388. Quotes are expected to continue decreasing in the next two or three years but at a likely lower rate.
Road to graphene industrialization
The graphene market is expected to post a CAGR as high as 24 percent from 2024 to 2029, according to MarketsandMarkets. In terms of value, it will reach $2.94 billion by the end of the forecast period from $1 billion in 2024. The key growth drivers are electronics, automotive and transportation, aerospace and defense, construction and other industries.
In China, the category witnessed high growth, with $5.36 billion realized in 2023 and 15.22 percent over the previous year based on AskCI’s reporting. This went up further to $5.7 billion in 2024 and will likely finish at $6.38 billion in 2025.
Because of this, investment continues to pour in. The latest was a $290 million allocation for the setting up of a graphene technology industrialization project in Chongqing municipality. This is a joint effort of four parties – the Beijing Hangtian Chuangxin, the Economic Cooperation Affairs Center of Fengdu, Chongqing, the College of New Energy and Materials of China University of Petroleum and the Chongqing Graphene Research Institute.
The zone, with a total area of 120,000sqm, aims to host a comprehensive graphene industrial chain, including powder, composite inductive agents, cathode materials, fibers and 5GW power batteries. When completed, this will generate an aggregate production value of $1.39 billion every year.
Graphite reserves
Graphite is a critical mineral for its valuable uses in industries, in addition to being the source of graphene.
Based on production and reserves in 2024, China led with 1.27 million and 81 million metric tons, according to Melissa Pistilli’s article on Investing News Network. Madagascar followed with 89,000 and 27 million metric tons, while Mozambique had 75,000 and 25 million metric tons and Brazil 68,000 and 74 million metric tons. India was in fifth place with 27,800 metric tons from reserves of 8.6 million metric tons. The other top-producing countries were Tanzania, Canada, Russia, South Korea, North Korea and Norway.
In China, natural graphite ores are mostly found in the provinces of Heilongjiang, Sichuan and Shandong.
Based on anode materials processed from graphite and shipped, the country posted 205,000 tons in 2022, surging by 103.47 percent over the previous year, and is forecast to reach 600,000 tons by the end of 2025, according to Advanced Industrial Research Institute (GGII). The top suppliers are BTR, Shanshan, Shangtai Technology, Jinyang Carbon and XF Nano.
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