Graphene is a 2-D structure of carbon atoms, organised in a hexagonal honeycomb lattice. The remarkable properties of graphene include strength, flexibility, light weight, and conductivity. Combining graphene with already-existing goods to create composite materials is one of the easiest and most efficient methods to use its potential.
Composite materials, often known as composites, are made by combining two or more elements with different qualities to create an end product with distinctive attributes. In the finished composite structure, these materials don’t meld or dissolve together; they stay separate.
Graphene composites are substances created by mixing graphene with another material or components.
By enhancing the conductivity and endurance of bulk materials, graphene can produce composites with superior properties. They can withstand extreme temperatures, impacts, and fires and have superior mechanical characteristics and dimensional stability. Medical implants, aeronautical engineering materials, and renewable energy sources are just a few applications for graphene composites.
Market Overview
The market for graphene composites was valued at $13.1 million in 2019 and is anticipated to increase at a CAGR of 37.5% from 2020 to 2027 to reach $109.4 million.
Superior mechanical, electrical, optical, and dimensional stability with great temperature, impact, and flame resistance are just a few of the qualities of graphene composites. Additionally, graphene can be combined with polymers, metals, and other materials to create composites that are conductive, resistant to high temperatures, and other properties. For instance, adding graphene to rubber improves its strength, impermeability, and conductivity. Engineering materials for renewable energy sources, aerospace, and other industries are some of the main uses for graphene composites.
Driving Factors
The widespread use of graphene composites in a variety of end-use industries is expected to increase demand for them over the projection period as a result of their advantageous properties.
Due to its high strength, light weight, good electric conductivity, and several other properties, graphene composites are in high demand in the automotive and aerospace industries. Advanced materials, such as graphene as well as its composites, are also necessary to reduce the fuel consumption of cars without compromising their performance or safety. This is anticipated to fuel the market for graphene composites in the automotive sector.
Graphene composites is projected to be driven by widespread application of graphene across a variety of industries due to its advantageous properties. Additionally, the introduction of new business owners has not only increased market competition but also created profitable expansion opportunities.
Restraining Factors
The growth of the global graphene composItes market is being constrained over the forecast period, nonetheless, by a scarcity of experienced labour. Additionally, the market’s overall growth is being constrained by the high cost of graphene polymers. The market will also be slowed down by high production costs and the need for sophisticated machinery. On the other side, producers are moving away from graphene composites in favour of alternatives as a result of high production costs and growing raw material prices.
However, it is projected that in the next years, market expansion would be constrained by a lack of good production facilities in many countries and a scarcity of product supply.
The demand will be driven in the future, though, by the extensive product application seen in the manufacture of medical instruments, consumer electronics products, and paints.
Opportunities
The factors driving the construction sector, where graphene composites are employed as a coating and protective layer, include the rise in population around the world, increasing infrastructure activity, increasing urbanisation, industrialization, and others. These factors enable the building firm durable with the use of less concrete and lower greenhouse gas emissions. Due to the rising need for paint and coatings in the construction industry, the graphene composites market has seen tremendous expansion. These elements are anticipated to work together to produce lucrative prospects for the growth of the graphene composites market. It’s projected that supporting government policies to encourage the usage of the product in many sectors will spur market growth in the years to come.
In the fields of textiles, construction, and energy storage systems, graphene composites are indeed employed as replacement products.
They are essential to the global defence and aerospace industries.
Challenges
For all producers, bulk production of high-quality and defect-free graphene composites remains a pipe dream since making these composites is expensive and time-consuming.
It is challenging to maintain quality while expanding graphene manufacturing at the same time.
The qualities of graphene, such like electrical conductivity, transparency, thermal conductivity, and impermeability, are hampered in the event that the graphene monolayer carbon network has any flaws.
The CVD technique is used to create high-quality monolayer and few-layer graphene, although it is challenging to implement in scale production. Manufacturers of graphene composites struggle to create a significant amount of graphene in a short amount of time due to inadequate production procedures for the materials.
The manufacture of graphene composites necessitates expensive apparatus and equipment. The accompanying health and environmental risk during the production of the two-dimensional substance graphene is another constraint. The mass manufacture of graphene composites is constrained by these considerations.
Segmentation Analysis
On the base of product type, applications, and geography, the graphene composites market is divided into segments. The market is divided into polymer-based, metal-based, ceramic-based, and other product types based on type of product. The market is divided into sports & wearables, aerospace & security, automotive, building & construction, power storage & generation, and others depending on the application. The graphene composites industry is examined by geography, including LAMEA, North America, Europe, and Asia-Pacific. Market share for graphene composites is examined across all key regions and nations.
- By Product Type
- Polymer Based
- Metal Based
- Ceramic Based
- Others
The polymer-based category, which accounts for 47.3% of all product sales in 2019, is anticipated to increase at a CAGR of 37.2% over the course of the projection year. This is due to its many uses in industries including textiles, automobiles, construction, and other fields.
The clamour for graphene composites in the construction sector is further increased by government programmes that favour infrastructure development in emerging economies.
- By Application
- Sport & Wearable Goods
- Aerospace & Defense
- Automotive
- Building & Construction
- Energy Storage & Generation
- Others
By application, the industry garnered 30.5% share in 2019 in terms of overall revenue. Due to the COVID-19 epidemic, sales in the automotive sector decreased. As a result, the market for graphene composites has been hampered.
- By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
In terms of sales, the graphene composites market is dominated by North America and Europe. During the projection period, the market in Asia Pacific is anticipated to grow at the greatest CAGR, followed by Latin America and Middle East Africa. North America and Europe are market leaders in terms of market capitalisation and are anticipated to follow a similar pattern in the graphene composites market during the anticipated timeframe. However, due to the change toward employing energy storage generation methods as a result of diminishing energy resources, the market in Asia Pacific is expected to grow significantly. Additionally, the region’s market for graphene composites is being driven by an increase in the demand for electric vehicles.The market for polymer-based graphene composites is expected to grow quickly, particularly in developing nations in Asia Pacific and the Middle East and Africa. The market for ceramic-based graphene composites is anticipated to grow quickly, particularly in developing nations in Asia Pacific and the Middle East and Africa. The demand for lightweight and fuel-efficient automobiles is expected to increase, which will cause the market for ceramic-based graphene composites to grow quickly. Based on a country-by-country analysis, it is expected that the markets in China, the U.S., and Brazil will grow at a significant CAGR during the forecast period due to an increase in demand from a variety of end-use industries, including the aerospace, automotive, and energy storage generation activities.