Aerographite Market Expected to Reach $7.1 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Aerographite Market," The aerographite market size was valued at $4.0 million in 2021, and is estimated to reach $7.1 million by 2031, growing at a CAGR of 6.2% from 2022 to 2031.

Aerographite weighs only 0.2 milligrams per cubic centimeter and is the world’s lightest material. It is electrically conductive, highly compressible, and can be utilized in batteries to help advance green transportation. Owing to the various benefits of aerographite, it is utilized in numerous industries. The main advantage is its ability to lessen the density of the material and consequently its weight due to its porous carbon nanotube structures.

In addition, it absorbs high levels of light radiation. Aerographite is used in lightweight batteries for advanced green transportation, satellites, motorsports, electronics, & aviation, and as electrically conductive adhesives. It can also be utilized to coat electrically non-conductive materials such as plastics and thus improve their conductivity.

Moreover, it is used in pollutant control as a lightweight contamination absorbent. Furthermore, it is used in construction to replace structural elements, reduce the weight of materials, and offer novel functionalities such as building health monitoring in new builds and retrofits.

The growth of the global aerographite market is majorly attributed to its growth in use in various applications such as aviation & satellite, automotive, building & construction, water treatment, pollution absorbent, and others. 

Aerographite has gained popularity in the automotive industry due to its properties such as being chemically stable and 75 times lighter than Styrofoam. It is strong enough to resist damage. The material can be compressed up to 95% and can be returned to its original form without any damage. 

Moreover, it is electrically conductive, giving it exceptional potential for the manufacturing of smaller and lighter batteries. In addition, these lightweight batteries could be utilized to develop green transportation by raising the miles-per-charge in electric vehicles.

Further, aerographite finds applications in electronics in airplanes and satellites as they have to endure high amounts of vibration. Asia-Pacific has become an important hub for the aviation industry. The developing economies in the region such as China and India have encountered a huge surge in their civil aviation markets owing to an augmented demand for air travel.

As per Invest India, the Regional Connectivity Scheme or UDAN (‘Ude Desh ka Aam Nagrik’) is a crucial component of National Civil Aviation Policy 2016. The scheme plans to improve connectivity to India's unserved and under-served airports and envisages in order to make air travel affordable and widespread.

As on 30th November 2022, over 215 thousand UDAN flights operated and more than 11 million passengers availed the benefits in UDAN flights. Moreover, the Indian Government has placed a target to operationalize 1,000 UDAN routes and revive/form 100 unserved & underserved airports/heliports/water aerodromes by 2024.

China is the world’s fastest-growing and second-largest civil market. According to the Civil Aviation Administration of China’s (CAAC), China had 241 large commercial service airports by the end of 2020. As per the CAAC, China has seen stable growth in its general aviation (GA) industry, with its fleet having reached 2,892 registered aircraft, 984,000 flying hours, 523 GA companies, and 339 certified GA airports by the end of 2020.

However, the availability of substitutes is anticipated to hinder market expansion. Nevertheless, the surge in demand for water treatment is anticipated to offer ample growth opportunities for the aerographite market.

An increase in demand for wastewater treatment has been witnessed owing to surge in population, urbanization, growth in manufacturing sector, regulatory requirements, and initiatives by manufacturing industries & state bodies for low waste generation.

For example, as per the Development Bank of Latin America (CAF), over the period of 2010–2030, about $33 billion is anticipated to be spent on wastewater treatment and $80 billion on sewerage infrastructure. Just as carbon is already utilized in water filtration, aerographite can be used both for water and air filtration in coming years.

Moreover, the Clean Water Act sets the fundamental framework for controlling the discharge of pollutants into waters and for regulating surface water quality standards. Furthermore, the U.S. Environmental Protection Agency is still carrying out administrative orders in order to ensure safe drinking water through public water systems. Also, in May 2021, the U.S. government announced the Drinking Water & Wastewater Infrastructure Act of 2021 with funding of $35 billion. 

The aerographite market is segmented into application and region. On the basis of application, the market is divided into aviation & satellite, automotive, building & construction, water treatment, pollution absorbent, and others. Region-wise, the aerographite market share market is studied across North America, Europe, Asia-Pacific, and LAMEA.

The major players operating in the global aerographite industry include Aero Industries, Miami Advanced Material Technology Co., LTD, Pingdingshan Kaiyuan Special Graphite Co., Ltd., Xinghe County Muzi Carbon Co., Ltd. and Zhejiang Huarong Technology Co., Ltd.

Key findings of the study:

• By application, the aviation and satellite segment was the highest revenue contributor to the aerographite market in 2021, growing with a CAGR of 5.6%.
• By region, Asia-Pacific was the highest revenue contributor to the aerographite market in 2021.