Graphene Composites Market Expected to Reach $109.4 Million by 2027

According to a new report published by Allied Market Research titled, “Graphene Composites Market by Product Type, and Application: Opportunity Analysis and Industry Forecast, 2020–2027,” 

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-based composites offer numerous benefits such as lightweight, resistance to corrosion, excellent conductivity, and others. A graphene composite based aircraft wing offers numerous advantages such as significant drop weight of the wing, decrease in destructive effects of lightning strike damage and improved fuel efficiency & range, and others. 

The graphene composites market is segmented into product type, application, and region. On the basis of product type, the market is divided into polymer based, metal based, ceramic based, and others. Various applications of graphene composites studied in the market include 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.  The graphene composites market share is analyzed for all segments and regions.

On the basis of product type, the polymer-based segment garnered 47.3% in terms of revenue in 2019. This was attributed to high consumer base for polymer-based composites such as automotive, aerospace, and others. In addition, polymer-based is highly adopted for various applications owing to its high bond strength, superior levels of durability, and others. 

On the basis of application, the automotive industry segment garnered 30.5% in terms of revenue in 2019, and is expected to grow at a CAGR of 37.1% during the forecast period. Adoption of graphene composites is expected to increase in coming years owing to rise in trend of lightweight vehicles in developed as well as developing countries.

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 factors such as rising end-use industries, including aerospace, construction, electronics, and others. 

The graphene composites market analysis covers in-depth information of the major industry participants. The key players operating and profiled 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.

Key findings of the study

• The report outlines the current graphene composites market trends and future scenario of the 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.
• On the basis of product type, the metal-based segment is expected to grow at a CAGR of 37.6%, in terms of revenue during the forecast period.
• On the basis of application, the aerospace & defense segment gained 16.4% share in 2019 in terms of revenue.
• On the basis of product type, the ceramic based segment garnered a share 6.2% in 2019 in terms of revenue.
• On the basis of region, North America garnered a share of 36.3% in 2019 in terms of revenue.

Impact of COVID-19 on the Graphene Composites Market

• Manufacturing as well as supply regions or countries witnessed economic slowdown, owing to the lockdown implemented across several countries. The downstream section of the value chain, which is the sectors such as automotive has witnessed less demand. This impacted the graphene composites market growth. 
• For instance, the building and construction sector has been witnessing slowdown that resulted in decreased demand for raw materials. Therefore, this factor consequently impacted the demand for graphene composites.