Graphene Composites Market
Graphene Composites Market Analysis By Product (Polymer-based Graphene Composites, Metal-based Graphene Composites, Ceramic-based Graphene Composites), By Application (Sports & Wearable Goods, Aerospace & Defense, Automotive) By Region - Global Insights 2031
Market Outlook for Graphene Composites
As per the latest industry analysis on graphene composites by Fact.MR, the global market was valued at around US$ 12 Mn in 2020, and is expected to accelerate at a massively high CAGR of 40% to top US$ 105 Mn by 2031. Demand for polymer-based graphene composites to surge at a CAGR of 35% across the assessment period of 2021 to 2031.
Key Points Covered in Graphene Composites Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- Assessment by Product Grade / Purity / Formulation Standards
- Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
- Certifications and Compliance Requirements
- Analysis of supply Contracts, Avg. Consumption, Potential for Direct & Indirect Sales
- COVID-19 Impact on Graphene Composite Sales and How to Navigate
- Recommendation on Key Winning Strategies
Interested to Procure The Data
Graphene Composites Consumption Analysis from 2016-2020 Vs Future Market Outlook for 2021 to 2031
As per Fact.MR - a market research and competitive intelligence provider, the global market for graphene composites was valued at US$ 12 Mn in 2020, and is anticipated to surge at a CAGR of around 40% to top US$ 105 Mn by 2031.
Massive use of graphene in various industries as a result of its favorable features is anticipated to drive demand for graphene composites. Furthermore, entry of new entrepreneurs has not only made the business competitive but has produced lucrative growth avenues for the market.
In addition, supportive government policies to promote the use of the product in various sectors are anticipated to impel the expansion of the market in the years ahead. Graphene composites are also used as substitute products in energy storage systems, textiles, and construction sectors. They play a vital role in defense & aerospace sector across the globe.
However, non-availability of good production amenities in many regions along with lack of product supply is anticipated to inhibit market growth in the years ahead. Nonetheless, immense product application witnessed in the production of medical equipment, consumer electronics goods, and paints will drive demand in future.
In addition, graphene exfoliation has become popular across the globe and this is set to boost manufacturer earnings over the coming years.
What are the Main Factors Stimulating Demand for Graphene Composites?
Graphene is a 2-D matrix of carbon atoms, arranged in a hexagonal honeycomb lattice. Graphene is a material with a huge amount of outstanding qualities; strength, flexibility, lightweight, and conductivity. One of the simplest and most effective ways of harnessing the potential of graphene is to combine it with existing products - so called composite materials.
Composite materials, often simply called composites, are materials formed by the combination of two or more materials with varying properties to produce an end material with unique characteristics. These materials remain distinct and do not blend or dissolve together in the final composite structure. Graphene composites are materials that are made by combining two or more materials including graphene.
Presence of graphene can create composites with superior qualities and improve the conductivity and strength of bulk materials. They have improved mechanical properties and dimensional stability, and can resist high temperatures, impacts, and flames. Graphene composites are used in medical implants, engineering materials for aerospace, and renewables, among others.
An Adaptive Approach to Modern-day Research Needs
What are the Key Challenges Affecting the Sales of Graphene Composite Manufacturers?
Mass production of high-quality and defect-free graphene composites is still a dream for all manufacturers as the manufacturing process of these composites is cost-intensive and time-consuming. Maintaining the quality and up-scaling graphene production at the same time is difficult.
In case of any defects on the graphene monolayer carbon network, the properties of graphene such as electrical conductivity, transparency, thermal conductivity, and impermeability are damaged, which hamper the quality of graphene.
For producing high-quality monolayer and few-layer graphene, the CVD process is used, and it is difficult to attend mass production with the CVD process. Lack of adequate production processes of the materials is a key challenge faced by graphene composite manufacturers, which makes it difficult to produce a substantial quantity of graphene in less time.
Production of graphene composites requires costly machinery and equipment for manufacturing. Also, another restraint is the associated health and environmental risk during the manufacturing of the two-dimensional material graphene. These factors restrict the mass production of graphene composites.
Which Region Offers the Largest Opportunity for Graphene Composite Suppliers?
The Asia Pacific (APAC) region dominates the market with a share of more than 40%. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India. The market in Asia Pacific is projected to expand considerably owing to shift towards using energy storage & generation practices due to depleting resources of energy.
Additionally, demand for electric vehicles is increasing in the region, which, in turn, drives the market in the region. Demand for polymer-based graphene composites is anticipated to expand at a rapid pace, especially in Asia Pacific. Sales of ceramic-based graphene composites are projected to rise at a rapid pace as well due to rise in demand for lightweight and fuel-efficient vehicles.
Increase in global automobile production is also a major factor leading to demand growth of graphene composites in terms of volume. The Asia Pacific region is expected to emerge as the fastest-growing regional market over the next 10 years.
Avail customized purchase options for your needs
What is the Graphene Composites Demand Outlook for the U.S.?
The market in the U.S was valued at over US$ 4 Mn in 2020. The U.S. is the growth engine of the market owing to the world’s highest defense spending, significant investment towards research & development, and presence of a large number of graphene composite suppliers.
Increased amount of expenditure by the military on the maintenance of security and stringent regulations by the U.S. government prioritizing the safety of the defense forces are behind rapid market growth in the country.
High demand is attributable to huge amounts of capital investments in building infrastructure for carrying out research activities in the field of graphene composites. Increasing demand for customized vehicles where composites are utilized to provide desirable specifications and performance is also a major driver for the market.
What are the Growth Opportunities for Graphene Composite Providers across China?
By 2031, China is expected to have a market value of roughly US$ 30 Mn. The construction sector drives the market in the country to a great extent.
China contributes to the largest share in the market owing to increased consumption by aerospace & defense industries and sporting goods. The automotive sector has exponentially grown in China and is anticipated to witness higher growth in the future, boding well for manufacturers of graphene composites.
Why are Polymer-based Composites Gaining Immense Popularity?
Mechanical properties of graphene composites can be improved by incorporating graphene with polymers, using the advantages of graphene in mechanical reinforcement over existing carbon fillers such as carbon black (CB), expanded graphite (EG), and single-walled carbon nanotubes (SWNT).
Need for global polymer-based graphene composites is projected to expand at a rapid pace, driven by rise in demand for lightweight vehicles and applications in end-use industries such as electronics, building & construction, automotive, aerospace, energy storage & generation, and others, due to their properties such as exceptional specific modulus and strength.
Graphene and its derivatives have been integrated into several polymers such as epoxies, polystyrene, polypropylene, and polyethylene, among others, for various functional applications. They are seeing increased demand for use in lightweight vehicles and applications in end-use industries.
How is the Automotive Industry Stimulating Demand for Graphene Composites?
The automotive industry uses graphene to create a variety of composites with superior mechanical properties, thus increasing the material's strength. As a result of this, demand for graphene related components in the automotive industry is increasing at a brisk pace.
Has COVID-19 Deaccelerated Demand for Graphene Composites?
The COVID-19 outbreak has affected the demand as well as manufacturing of graphene composites. Manufacturing activities of industries such as automotive and construction were disrupted owing to the spread of COVID-19 in many countries across the globe, which resulted in decreased demand for graphene composites.
Companies that are located in countries badly affected by the virus or those that are dependent on supply chains located in affected countries have been the immediate victims of the pandemic.
The COVID-19 crisis affected the chemical industry supply chain to a major extent. This led to a huge impact on raw material procurement. 2021 is projected to be better, with the market regaining its original traction by 2022.
Product launches and business expansion are leading strategies adopted by key players in this market in order to expand their geographic reach and improve their product portfolios in the global market.
The market has lucrative opportunities for new entrants, which will lead to competitiveness in product offerings and also reduction in the prices of end products.
- Haydale launched a product named graphene-enhanced prepreg material. This material was developed in partnership with Warwick Ltd., Airbus UK, BAE Systems, GE Aviation, and Element Materials Technology. The prepreg material provides a new generation of composites reinforced with carbon fiber, which has increased electrical conductivity.
Graphene Composites Market Report Scope
Historical Data Available for
US$ Mn for Value & ‘000 Units for Volume
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Main Segments Covered in Graphene Composites Industry Research
- Polymer-based Graphene Composites
- Metal-based Graphene Composites
- Ceramic-based Graphene Composites
- Graphene Composites for Sports & Wearable Goods
- Graphene Composites for Aerospace & Defense
- Graphene Composites for Automotive
- Graphene Composites for Building & Construction
- Graphene Composites for Energy Storage & Generation
- FAQs -
The global graphene composites market is currently valued above US$ 12 Mn.
Increasing demand for lightweight, comfortable, and high-strength materials around the world is largely expected to shape market expansion.
Key players operating in this market are Haydale Graphene Industries PLC, Graphene Nanochem plc., NanoXplore Inc., and Applied Graphene Materials plc, as per ratings on the basis of market share, market reach, clientele, etc.
Asia Pacific accounts for 40% global revenue share for graphene diagnostics, and will remain a lucrative region for market players.
Top 5 countries driving demand for graphene composites are the U.S., China, Japan, Canada, and Germany.
Metal-based graphene composites are projected to record around 25% CAGR over the next 10 years.
The European graphene composites market is projected to expand at a CAGR of 30% during 2021 – 2031.
The market is expected to reach a value of above US$ 105 Mn by the end of 2031, with sales revenue expected to register a high CAGR of around 40%.
Need an Exclusive Report for your Unique Requirement?
- Related Reports -
Composites Testing Market is poised to grow at a CAGR of 5.2% reaching US$ 3 Billion by 2032. Mechan...
Metallocene Polyolefin Market is expected to grow at a CAGR of 9.5% and reach a valuation of US$ 34....
Polyolefin Compound Market is expected to have significant growth during 2021-2031. Wide range of ap...