Allied Market Research recently published a report, titled, "Graphene Composites Market by Product Type (Polymer Based, Metal Based, Ceramic Based, and Others), and Application (Sports & Wearable Goods, Aerospace & Defense, Automotive, Building & Construction, Energy Storage & Generation, and Others): Global Opportunity Analysis and Industry Forecast 2020-2027". As per the report, the global graphene composites industry was pegged 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.
Drivers, restraints, and opportunities
Rise in demand for lightweight materials and
increase in R&D expenditure by developed and developing countries have
boosted the growth of the global graphene composites market. however, high cost
of graphene-enhanced composites hinders the market growth. On the contrary,
surge in graphene producers is expected to open lucrative opportunities for the
market players in the future.
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Covid-19 scenario:
- The COVID-19 pandemic negatively affected the
automobile and construction industries, which in turn, hindered the demand
for graphene composites.
- The pandemic impacted the chemical industry
and hampered the supply chain to a greater extent, which affected the raw
material procurement.
- As majority of the event cancelled due to
Covid-19 pandemic, the demand for graphene composites has decreased.
The polymer-based segment dominated the market
By product type, the polymer-based segment held the
largest share in 2019, accounting for nearly half of the global graphene
composites market, due to its adoption in numerous applications such as
automotive, aerospace, and energy storage & generation. However, the
ceramic-based segment is projected to register the highest CAGR of 38.8% during
the forecast period, owing to its superior mechanical strength, high
conductivity, and thermal resistance.
Get Detailed COVID-19 Impact Analysis on the
Graphene Composites Market @ https://www.alliedmarketresearch.com/request-for-customization/10029?reqfor=covid
The automotive segment held the largest share
By application, the automotive segment dominated in
2019, contributing to nearly one-third of the global graphene composites
market, due to high demand for lightweight vehicles, which consequently, surges
the demand for graphene composites. However, the aerospace & defense
segment is anticipated to register the highest CAGR of 38.3% during the
forecast period, owing to increased contribution of developing regions such as
APAC and LAMEA in the aerospace and defense sector.
Asia-Pacific, followed by North America, held
the lion's share
By region, the global graphene composites market
across Asia-Pacific, followed by North America, held the largest
share in 2019, accounting for nearly two-fifths of the market. The region is
expected to showcase the highest
CAGR of 38.1% during the forecast period, owing to
rise in consumer bases such as automotive, aerospace, and construction
industry.
Major Market Players
- 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)
- Gnanomat
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