The global graphene composites market is estimated to grow at a CAGR of ~40% over the forecast period, i.e., 2022 – 2031. Graphene composites are high in strength, flexibility, lightweight and conductivity. The growth of the market can be attributed to the growing application of graphene composites in end-use industries, backed by its advantages, such as, electrical and thermal conductivity, durability, flexibility, stiffness, UV resistance, weight reduction and fire resistance. Graphene composites are extensively used for manufacturing electronics, owing to their high flexibility, along with heat and electricity resistant properties. As a result, the growing demand for electronics, such as, laptops, smartphones, televisions, and others, is bound to boost the demand for graphene composites. For instance, in 2020, more than 1.3 billion smartphones were sold by smartphone vendors across the world. The market growth is further propelled by the increasing use of advanced materials to enhance the qualities of the end-use products, along with the rising trade of chemical substances.
The market is segmented by product into polymer-based, ceramic-based, metal-based, and others, out of which, the polymer-based segment is anticipated to hold the notable share in the global graphene composites market, over the forecast period on account of higher flexibility and lighter weight of polymer-based graphene composites.CLICK TO DOWNLOAD SAMPLE REPORT
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
On the basis of geographical analysis, the global graphene composites market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region witnessed or is estimated to witness noteworthy growth over the forecast period on the back of growing chemical manufacturing industry in developing countries, such as, China, India, and Japan. Moreover, the growing import and export of chemicals is further estimated to boost the regional market growth.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period growing manufacturing of chemicals, along with the increasing trade of chemical substances. As per the statistics provided by the World Bank, chemicals added 16.439% value in manufacturing in the year 2017 up from 11.838% in the year 2000, in the United States.
The global graphene composites market is further classified on the basis of region as follows:
Our in-depth analysis of the global graphene composites market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing demand for graphene composites in the electronics industry is estimated to boost the market growth.
The market is anticipated to attain a CAGR of 40% over the forecast period, i.e., 2022 – 2031.
The lack of adequate production of raw materials is estimated to hamper the market growth.
The North America region is anticipated to provide more business opportunities over the forecast period owing to the increasing manufacturing of chemicals in the region.
The major players in the market are Graphene NanoChem Plc, NanoXplore Inc., Applied Graphene Materials plc, XG Sciences Inc., Directa Plus PLC, Graphene Composites Limited, Graphmatech AB, Nano Graphene Inc., G6 Materials Corp., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product, end-use industry and by region.
The electronics segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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