The global graphene nanocomposites market is projected to grow year-on-year by 37.0% in 2022, reaching a valuation of USD 2,796.7 Million by 2031.
| Attribute | Details |
|---|---|
| Graphene Nanocomposites Market Base Year Value (2020A) | USD 122.3 Million |
| Graphene Nanocomposites Market Estimated Year Value (2021E) | USD 167.5 Million |
| Graphene Nanocomposites Market Projected Year Value (2031F) | USD 2,796.7 Million |
| Graphene Composites Market Value-based CAGR (2021 to 2031) | 32.5% |
| Graphene Composites Market Collective Value Share: Top 3 Countries (2020A) | 49.9% |
Graphene nanocomposites are used in medical, biomedical and energy storage applications, driving sales at a 32.5% CAGR over the forecast period. As per the report, sales in the graphene nanocomposites market represented 4.5% of the global nanocomposites market in 2020.
Rising demand for graphene oxide for applications in medicine and biotechnology for cellular imaging, drug delivery, and cancer treatment, along with increasing application in electronics and optics will continue pushing sales in the market.
Considering this, Future Market Insights (FMI) has forecast the global graphene nanocomposites sales to reach a valuation of USD 2,796.7 Million in 2031.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 38.2% |
| H1,2022 Projected (P) | 33.7% |
| H1,2022 Outlook (O) | 34.6% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (-) 360 ↓ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 90 ↑ |
A half yearly growth comparison between earlier projection and current estimated has been presented by Future Market Insights. Growth outlook of graphene nanocomposites market is subjected to an array of industrial and innovation factors including research and development expenditure, nanotechnology sector commercialization, advancement in industrial sector and others.
Sales prospects to continue to be pushed by growing demand for its use in electronics and optics, as well as in medicine and biotechnology for cellular imaging, drug delivery, and cancer therapy.
According to FMI analysis, the market for graphene nanocomposites will grow by 33.7% in projected first half 2022 whereas the outlook H1, 2022 depicts 34.6% increase in the market segment. The key reason attributing to this increment in the growth rate includes substantial demand for semiconductors, higher demand for electronic items, adaptation of nanotechnology in healthcare and other end use industries, etc.
In addition, increasing sales of graphene nano platelets, which are used to enhance the properties of polymeric materials, are anticipated to continue accelerating market expansion over the projection period.
In order to store and accumulate charge, graphene nanocomposites have proved to be effective owing to their significant surface area, high stability, strong charge carrier mobility, and high conductivity.
Leading market participants in graphene nanocomposites are engaging in strategic business partnerships for the commercialization of graphene and concentrating on the incorporation of proprietary and environmentally friendly technology for graphene synthesis.
In addition to this, players are concentrating on research and development to investigate new application areas of graphene nanocomposites that can serve additional end uses, in order to obtain a competitive edge.
Sales of graphene nanocomposites grew at an impressive 30.5% CAGR between 2018 and 2020, with countries such as the USA, China, and South Korea driving demand.
Rapid growth in the electronics sector is spurring demand for graphene nanocomposites to be used in electronic and semiconductor components. Besides this, growing sales of graphene nanoplatelets to improve properties of polymeric materials, is expected to continue augmenting the growth in the market over the forecast period.
They are also an effective substitute to carbon nanotubes (CNT) and are slowly becoming more prevalent in various areas of application. Increasing adoption of various techniques to commercialize graphene nanocomposites is expected to bode well for the market in the forthcoming years.
As a result, the graphene nanocomposites market is projected to grow at a 32.5% CAGR during the forecast period of 2021 to 2031.
With the evolution of technology, there have been continuous advances in the electronics industry across the globe. The need to inculcate advanced and more efficient materials in the electronics sector is expected to spur demand in the market.
Graphene nanocomposites are used in a plethora of application in the electronics industry. They provide an economical solution for flexible radio frequency identification (RFID) tags. They are increasingly being used for enhancement of electronic & semiconductor components, such as thin film transistors, capacitors, and sensors. The compound is also used for printable electronics & conductible coating applications.
In the forthcoming years, electronic devices, such as mobiles phones will feature components having graphene enhancements. The surge in advanced electronics production to meet the growing consumer demand for better products is expected to provide an impetus to the sales of graphene nanocomposites.
Electronics Manufacturers in China are Employing Graphene Oxide Nanocomposites
As per FMI, China is projected to account for nearly one-fourth of the global market share, creating an incremental opportunity of above USD 623.8 Million in 2031.
China is expected to remain one of the leading countries producing graphene nanocomposites across the globe. Graphene nanocomposites manufacturers in China are investing in innovation and development of new products such as new silicon graphene nanocomposites for lithium-ion batteries. This is expected to spur demand in the China market in the forthcoming years.
The presence of a robust electronics sector in China is a chief factor projected to fuel sales of graphene nanocomposites over the forecast period.
Growing Demand for Graphene Based Nanocomposites for Water Treatment Will Fuel Growth
Sales in the USA are projected to account for approximately 87.2% of the North America graphene nanocomposites market in 2031. In 2021, the market is expected to grow by 37.2% year-on-year, reaching a valuation of USD 42.5 Million. Expansion of the medical and bio-medical sector in the USA is expected to bode well for the market over the forecast period.
The presence of players such as Angstron Materials, Inc. in the USA is another important factor propelling the demand for graphene nanocomposites. Moreover, the use of graphene nanocomposites in water treatment and polymer composites is expected to bolster the growth of the market.
Surging Demand for Epoxy Graphene Nanocomposites to Boost Sales in Russia
Demand in the Russia is projected to account for 17.3% of the Europe graphene nanocomposites market share in 2031. The country is investing in research and development, and graphene has been declared a priority research subject.
Growing production of graphene nanocomposites in Russia will place it as a lucrative pocket in the Europe market.
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Increasing Adoption in the Paints & Coatings Industry Will Spur Demand for Graphene Nano Platelets
Sales of graphene nano platelets are expected to grow at an impressive 31.3% CAGR over the forecast period.
Graphene nano platelets (GNP) have a unique nanoscale size, shape, and composition. These can be used to improve properties of a wide range of polymeric materials such as thermoplastic and thermoset composites, adhesives, paints & coatings, natural or synthetic rubber, and thermoplastic elastomers.
Also, they are being used as nanoscale additives for resistive heaters, advanced composites, and in electrodes of advanced batteries and super capacitors. Owing to these factors, sales of graphene nano platelets are projected to increase over the forecast period.
Increasing Sales of Advanced Electronics are Bolstering Demand for Graphene Nanocomposites
Applications in energy storage segment are projected to create an absolute dollar opportunity of more than USD 597.7 Million during the forecast period.
Graphene nanocomposites have a large surface area, high stability, good charge carrier mobility, and high conductivity which is utilized to store and accumulate charge. Energy generation and energy storage devices, such as solar cells, batteries, fuel cells, super-capacitors, and hydrogen storage cells, are application areas of the product.
The material also finds application in lithium-ion batteries due to high energy storing capacities. These factors will continue providing tailwinds to graphene nanocomposites sales over the assessment period.
Leading players operating in the graphene nanocomposites market are investing in strategic business agreements for commercialization of graphene and are focusing on the incorporation of proprietary and green technology for graphene production. Apart from this, players are focusing on research and development to explore new application areas of graphene nanocomposites that can serve more end uses, to gain a competitive edge.
For instance:
| Attribute | Details |
|---|---|
| Forecast Period | 2021 to 2031 |
| Historical Data Available for | 2018 to 2020 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Regions Covered | North America; Europe; East Asia; and Rest of the World |
| Key Countries Covered | The USA, Canada, Germany, The UK, France, Italy, Spain, Russia, China, Japan, and South Korea |
| Key Segments Covered | Product Type, Application, and Region |
| Key Companies Profiled | Versarien Plc; Haydale Graphene Industries Plc; Graphenea S.A; Applied Graphene Materials PLC; Taiwan Graphene Co., Ltd.; Ningbo Moxi Technology Co., Ltd; Graphene Tech, S.L.; XG Sciences Inc.; NanoXplore, Inc; Directa Plus Plc; Aztrong Inc. |
| Report Coverage | Market Forecast, Brand Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The graphene nanocomposites market reached a valuation of USD 167.5 Million in 2021.
The graphene nanocomposites market experienced robust growth, exhibiting a 30.5% CAGR between 2018 and 2020.
Incorporation of green technology for graphene production, along with strategic business agreements for commercialization of graphene are driving sales of graphene nanocomposites.
North America graphene nanocomposites market is projected to grow at an impressive 32.1% CAGR during the forecast period.
Graphene nanocomposites market in East Asia is anticipated to hold a market share of 44.0% by 2031.
The USA is anticipated to hold a market share of 24.0% in the global graphene nanocomposites market share by 2031.
| Estimated Market Value (2023) | USD 44,459.0 million |
|---|---|
| Projected Market Revenue (2033) | USD 1,08,392.0 million |
| Value-based CAGR (2023 to 2033) | 9.3% |
| Market Size (2023) | USD 2.23 billion |
|---|---|
| Market Size (2033) | USD 4.19 billion |
| Market CAGR (2023 to 2033) | 7% |
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