“Increasing research & development activities coupled with exploration of new application areas will drive the growth of Graphene Nanocomposites Market over the forecast period”
The graphene nanocomposites market report provides insights about the potential market size in terms of volume (Tons) and value (US$ Mn) market trends, forecasts, market dynamics, competition landscape and most recent developments in the global graphene nanocomposites market for the analysis period 2018 to 2028.
The global graphene nanocomposites market is anticipated to be potentially pegged at US$ 50.4 Mn by 2018 end and is forecast to reach US$ 800.4 Mn by the end of 2028, exhibiting 15X growth during the forecast period. The demand for graphene nanocomposites is anticipated to witness momentous growth during the forecast period, due to their extraordinary characteristics and tremendous potential applications.
Graphene is a two-dimensional material in which carbon atoms are arranged in a honeycomb-like lattice. It is an allotrope of carbon and is considered to be one of the most famous nanomaterials produced by researchers. Graphene is a semi-metal with a slight overlay between the valence and conduction bands. It is the basic structural element in many other allotropes of carbon, such as charcoal, graphite, fullerenes, and carbon nanotubes.
Graphene was discovered in 2004 and is expected to bring in a new age of materials and material science in the forthcoming years. Graphene exhibits excellent properties such as high strength, significant thinness, high surface area, excellent thermal & electrical conductivity and high flexibility. The graphene nanocomposites market has been categorized on the basis of product type into graphene oxide and graphene nanoplatelets.
Exceptional Characteristic Properties, Coupled With Significant Potential Applications, to Drive Growth of Graphene Composites Market
Attributing to its extraordinary characteristic properties, graphene has gained phenomenal attention from research prospective, especially in electronics, semiconductor and energy sectors. In the early 21st century, researchers were channelizing efforts to develop advanced materials such as graphene nano-composites, which can comply with industrial requirements and exhibit properties such as high strength, flexibility and compact size, among others.
Attributing to this, researchers and developers, and several end-use industries are strongly focusing on integrating graphene nano-composites in order to produce or commercialize advanced products based on it.
Increasing popularity of graphene nanocomposites has led to collective efforts on the part of manufacturers, academia and governments for the commercialization of graphene on a large scale. Attributing to this, research & development activities, supported by increasing funding and investments for the enhancement of graphene nanocomposites, are expected to witness an upward trend around the globe.
Graphene nanocomposites, along with graphene enhanced materials, have tremendous potential applications in energy storage devices. Graphene nanocomposites and their products are finding applications in devices, such as solar cells, storage capacitors and lithium ion batteries, along with other energy storage devices, owing to their exceptional thermal and electronic conductivity.
Increasing urbanization and rising population are driving the demand for energy generation and storage, which is expected to drive the growth of the graphene nanocomposites market in the coming period. Graphene nanocomposites can be helpful in simplifying the next generation of technologies, such as interconnects and chips for data communication and flexible screens for wearable technology. With the shrinking size of devices, graphene’s thinness, coupled with its high room temperature conductivity, holds great promise in the electronics industry.
The combination of the capability of graphene nanocomposites to be integrated into electronics with their exceptional sensing ability can be used to deliver building blocks for IOT. Due to new innovations in markets, the use of graphene enhanced products will also become more widespread in regulatory restrictive markets, such as aerospace and medical, progressing from applied research to advanced products.
Advanced materials, such as graphene nanocomposites, are believed to have a significant impact in this modern industrial world and are anticipated to bring out the new era of material science.
Increasing Research & Development Activities, Coupled With Rising Government Funding in East Asia, to Aid Graphene Nanocomposites Market Growth in East Asia
The growth of the graphene nanocomposites market is pegged to be determined by increasing research initiatives and exploration of new application areas. In recent years, China has taken significant steps towards the industrialization of graphene by forming technological alliances between end-use industries and research institutes for the commercialization of graphene production.
Lately, South Korea planned to spend US$ 350 Million on commercialization initiatives and R&D activities for product innovation and the exploration of new application areas for graphene nanocomposites. Attributing to the increasing research & development activities, along with the predominance of end-use industries, East Asia is estimated to dominate the graphene nanocomposites market.
In countries such as Canada there is significant presence of graphite mines, which ensures an uninterrupted supply of raw materials for the production of graphene nanocomposites in North America. The strong presence of end-use industries, supported by increasing R&D activities and high production capability, is expected to make North America a prominent market. Increased government initiatives and growing investments for the commercialization of graphene are expected to make Europe a promising market for graphene nanocomposites.
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Graphene Nanocomposites Market: Competition Outlook
The global graphene nanocomposites market is a highly fragmented market with over eighty market participants. As the commercialization of graphene nanocomposites is not at a large scale yet, market participants with high manufacturing capabilities are expected to play a crucial role in the graphene nanocomposites market.
Capacity expansion, the signing & development of strategic agreements and product innovation are a few of the key strategies undertaken by key players to expand and sustain in the global graphene nanocomposites market.
Haydale Graphene Industries Plc, Applied Graphene Materials, Talga Resources Ltd, XG Sciences Inc., and Versarien plc are among the key players identified in the graphene nanocomposites market. Some of the key recent developments & industrial activities in the global graphene nanocomposites market are:
- In July 2018, Versarien Plc collaborated with ZapGo Ltd. for the development of super capacitors with the help of Nanene for the enhancement of electrical conductivity
- In April 2018, Versarien Plc signed an agreement with Luxus Ltd., a plastic recycling company, for the development of graphene-enhanced polymers and recycled polymers for customer projects
- In September 2017, Haydale Graphene Industries Plc announced a commercial and technical partnership with Briggs Automotive Company for the supply of graphene-enhanced carbon fiber for body panels
- In November 2016, Haydale Graphene Industries Plc and Huntsman Advanced Materials signed a joint development agreement for the development and supply of graphene-enhanced functional resins
By Product Type
- Graphene Oxide
- Graphene Nanoplatelts
- Energy Storage
- Automotive & Aerospace
- Polymer Composites
- Medical & Bio-Medical
- Coatings & Printing Inks
- Academia & research
- North America
- East Asia
- Rest of the World