Graphene Composites Market Outlook - 2027
The global graphene composites market was valued at $13.1 million in 2019, and is projected to reach $109.4 million by 2027, growing at a CAGR of 37.5% from 2020 to 2027.
Graphene composites have characteristics such as superior mechanical properties, electrical, optical, dimensional stability with high temperature, impact, and flame, resistance. Graphene can also be mixed with polymers, metals, and others, to develop composites that are resistant to extreme temperature, conductive, and others. For instance, inclusion of graphene with rubber enhances its conductivity, impermeability and strength. The major applications of graphene composites are engineering materials for aerospace, renewables, and others.
The graphene composites market is segmented on the basis of product type, applications, and region. On the basis of product type, the market is categorized into polymer based, metal based, ceramic based, and others. Based on the application, the market is classified into sports & wearable goods, aerospace & defense, automotive, building & construction, energy storage & generation, and others. By region, the graphene composites market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Graphene composites market share is analyzed across all significant regions and countries.
The graphene composites market analysis covers in-depth information of the major industry participants. Some of the major players in the market include Ad-Nano Technologies Pvt. Ltd., (Ad-Nano Technologies), G6 Materials Corp (G6 materials), Haydale Graphene Industries plc. (Haydale Graphene), Graphene Composites (GC), Graphene One LLC., Graphenano Group (Graphenano), XG Sciences, NanoXplore Inc., Graphmatech AB (Graphmatech), and Gnanomat.
Other players in the value chain of the graphene composites market include First Graphene Ltd., Applied Graphene Materials Plc., CVD Equipment Corporation, Deyang Carbonene Tech, Ningbo Morsh, Vorbeck, Wuxi Graphene Film, Angstron Materials, and others.
The key players adopt numerous strategies, such as product launch, business expansion, acquisition, partnership, collaboration, joint venture, and agreement, to stay competitive in the graphene composites market.
For instance, 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. This product launch enhanced the product portfolio of the company
In addition, G6 Materials Corp inked R&D agreement with a Singaporean company Partner to develop a graphene-based composite material for application in marine vessels.
Graphene Composites Market, by Product Type
By product type, the polymer-based segment garnered 47.3% share in terms of revenue in 2019, and is expected to grow at a CAGR of 37.2% during the forecast period. This is attributed to its numerous applications such as textiles, automotive, construction, and others.
By Product Type
Polymer Based is projected as the most lucrative segment.
In addition, development of infrastructure in emerging economies with supportive government policies boosts the demand for graphene composites in the construction industry.
Graphene Composites Market, by Application
By application, the automotive segment garnered 30.5% share in 2019 in terms of revenue. The automotive segment witnessed decrease in sales owing to outbreak of COVID-19. This has consequently hindered the graphene composites market. On the contrary, rise in the automotive sector in Asia-Pacific and LAMEA is expected to offer lucrative opportunities during the forecast period.
Automotive is projected as the most lucrative segment.
Graphene Composites Market, by Region
Region-wise, Asia-Pacific is expected to grow at a CAGR of 38.1%, in terms of revenue during the forecast period. This is attributed to presence of emerging economies such as India, China, South Korea, and Thailand. These emerging economies have rapidly growing consumer base such as aerospace, automotive, construction, textile, and others. China is one of the major contributors to the market, owing to a huge consumer base and presence of key players in the graphene composites market.
Asia-Pacific holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.
Key benefits for stakeholders
- The report outlines the current trends and future scenario of the graphene composites market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
- The graphene composites market size is provided in terms of revenue.
- The report provides an in-depth analysis of the market along with the current and future market trends.
- This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- The study provides a comprehensive analysis of the factors that drive and restrain the graphene composites market growth.
Impact of COVID-19 on the Graphene Composites Market
- The COVID-19 outbreak has affected the demand as well as manufacturing of graphene composites.
- The manufacturing activities of industries, such as automotive and construction, were disrupted, owing to spread of COVID-19 in many countries across the globe, which resulted in decrease in demand for graphene composites.
- The COVID-19 crisis affected the chemical industry supply chain to a major extent. This led to a major impact on raw material procurement.
Graphene Composites Market Report Highlights
By Product Type
Key Market Players
Gnanomat SL, AD-NANO TECHNOLOGIES PVT LTD., NanoXplore Inc, Graphenano Group, Graphene Composites, Graphene One LLC, XG Sciences, Inc, Haydale Graphene Industries plc, Graphmatech AB, G6 Materials Corp
The demand for graphene composites may witness significant growth in coming years. This is attributed to its rising applications of graphene composites such as energy storage, automotive, aircraft parts, and others. In addition, expanding consumer base, such as aerospace, in developing countries is expected to boost the demand for graphene composites during the forecast period. However, presence of alternative in the market is also one of the factors expected to hamper the market growth during the projected period. On the contrary, the countries such as the U.S., and China, has increased R&D activities for graphene composites. This will boost the market in coming years.