|Fastest Growing Market:||Asia-Pacific|
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The Global Graphene Nanocomposites Market is projected to register a CAGR over 30% during the forecast period (2022-2027).
The market was negatively impacted by COVID-19 in 2020. Due to the COVID-19 outbreak in the first half of 2020, the electronics and semiconductor industry was significantly affected. This, in turn, has unfavorably impacted the consumption of graphene nanocomposites. The market is projected to grow steadily, owing to increased demand for electronics and semiconductors in 2021.
- Over the short term, rising applications of graphene nanocomposites from electronic sector, coupled with growing demand for graphene nanocomposites in the production of biomedical devices in developed as well as emerging economies worldwide, are some of the driving factors augmenting growth of the market studied.
- However, high costs associated with its synthesis is a key factor anticipated to restrain growth of the target industry over the forecast period.
- Nevertheless, emerging applications for graphene nanocomposites and development of bio-based graphene nanocomposites are likely to create lucrative growth opportunities for the global market soon.
- Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period. This growth is attributed to rise in the consumption of graphene nanocomposites from electronics, medical, packaging, automotive, and construction sectors in the countries of this region including China, Japan, and India.
Scope of the Report
Graphene nanocomposites offers superior electrical, mechanical, optical, chemical, and thermal properties. These nanocomposites possess a high aspect ratio, which makes them ideal for reinforcement. Graphene nanocomposites are widely used for the development of new materials for alternative energy sources. Some of the key applications of graphene nanocomposites includes chemical and biosensors, energy storage devices, nanoelectro-mechanical systems, smart phones, ultra-thin flexible displays, transparent touchscreens, super-fast transistors, conductive coatings, fuel cells batteries, ultracapacitors, bone tissue engineering applications, among others. The graphene nanocomposites market is segmented by type, end-user industry, and geography. By type, the market is segmented into graphene oxide (GO), graphene nano platelets (GNP), and other types. By end-user industry, the market is segmented into electrical and electronics, medical, automotive, and aerospace, building and construction, packaging, and other end-user industries. The report also covers the market size and forecasts for the graphene nanocomposites market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on value (USD Million).
|Graphene Oxide (GO)|
|Graphene Nano Platelets (GNP)|
|Electrical and Electronics|
|Automotive and Aerospace|
|Building and Construction|
|Other End-user Industries|
Key Market Trends
Rising Demand from Electrical and Electronics End-user Industries
- Electrical and Electronics segment accounted for significant revenue share in the graphene nanocomposites market in 2021.
- Graphene offers thermal and conductivity abilities, which makes it suitable to use for interconnections in electronic circuits as well as parts of the circuits. Graphene nanocomposites are lightweight materials with capability of conducting thermal, electrical, and robust traits, due to which it is widely used in the manufacturing of various electronics and semiconductor components.
- Graphene nanocomposites find applications in flexible radio frequency identification tags, thin film transistors, various types of sensors, supercapacitors, photovoltaic and transparent conductors, touch screen points, optical limiters, optical frequency converters, and terahertz devices. The product is also used for smart phones, ultra-thin flexible displays, conductive coatings, and printable electronics applications.
- Augmenting electronics and semiconductor industries, and rising adoption graphene nanocomposites in respective applications, are among key factors driving growth of the target industry. For instance,
- According to the stats released by National Bureau of Statistics of China, annual growth rate of value added in electronics manufacturing industry in China was accounted for 15.7% in 2021, compared to 7.7% in 2020.
- As per Consumer Technology Association, growth rate of the consumer electronics industry in the United States was registered 4.3% in 2021, over -2.2% growth rate in year 2020, thereby enhancing the demand for graphene nanocomposite and augmenting growth of the market studied.
- Moreover, according to Semiconductor Industry Association, the global semiconductor market size accounted for USD 555.89 billion in 2021, compared to the USD 440.39 billion in 2020, and it is expected to register market size of USD 613.52 billion by 2022, which will propel the growth of the target industry over the forecast period.
- Thus, with the growing electronics and semiconductor industries, the demand for graphene nanocomposites will also significantly increase.
- Therefore, considering the aforementioned factors, the demand for graphene nanocomposites is expected to rise in the electrical and electronics end-user industry segment significantly in near future.
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Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominated the worldwide market in 2021, with the significant market share in terms of revenue, and is projected to maintain its dominance during the forecast period of 2022-2027.
- Growing demand for graphene nanocomposites into packaging, building and construction, automotive, electronics applications across the Asian countries are primary factor driving growth of the target industry in Asia Pacific.
- Besides electronics and semiconductors, graphene nanocomposites also find applications in food and beverages packaging and electronics packaging sector due to its characteristics such as good thermal response, gas permeability, mechanical strength, electrical conductivity etc.
- Graphene nanomaterials are also used in the development of graphene-reinforced cement composites. Further, the product is also used in various automotive and aerospace applications such as light weighting of automotive structure, automotive panels, fuel systems of aircrafts, sensors, graphene conductors among others.
- Rapidly growing packaging, construction, and automotive and electronics sector in India, China, and Japan are propelling demand for graphene nanocomposites which will further enhance growth of market studied.
- As per Japan Packaging Institute (JPI), the Japanese packaging industry was valued at JPY 6,147.7 billion in 2021, over JPY 6,010.9 billion in 2020, which is likely to enhance the demand for graphene nanocomposites in respective application.
- According to India Brand Equity Foundation, the India e-commerce industry is likely to increase by 21.5%, reaching USD 74.8 billion, in 2022. Furthermore, country’s e-commerce industry is expected to reach USD 350 billion by 2030. Rising trend in e-commerce sector is likely to enhance the demand for packaging, which will in turn, augment the demand for studied market in the country.
- As per the National Bureau of Statistics of China, output value of the construction works in China accounted for CNY 25.92 trillion in 2021 compared to CNY 23.27 trillion in 2020, thereby enhanced the demand for graphene nanocomposites in respective construction applications.
- As per Ministry of Land, Infrastructure, Transport and Tourism, (MLIT), the value of orders received for construction works in Japan was valued at JPY 15.1trillion in 2021 compared to JPY 14.88 trillion in 2020, thereby fuelling demand for graphene nanocomposites market.
- According to OICA, China produced 26.08 million unit’s vehicles in 2021, registering an increase of 3% compared to 25.23 million units produced in 2020. As per India Energy Storage Alliance (IESA), the Indian EV industry is expected to expand at a CAGR of 36%, which in-turns stimulates the demand for graphene nanocomposites.
- Moreover, as per India Brand Equity Foundation, the domestic production of electronics in India has grown from USD 29 billion in 2014-15 to USD 67 billion in 2020-21, which has propelled the demand for graphene nanocomposites in respective applications in electronics segment.
- All aforementioned factors are likely to fuel growth of the Asia-Pacific graphene nanocomposites market over the forecast time frame.
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The graphene nanocomposites market is partially consolidated in nature. Some of the major players in the market include Haydale Graphene Industries plc., GrapheneTech, S.L., NanoXplore Inc., XG Sciences, and Aztrong, among others. (not in any particular order)
- In January 2022, Haydale Graphene Industries plc., announced the incorporation of graphene nano-platelets (GNPs) in its cosmetic face mask sheets and PPE face masks, iCraft is using Haydale’s functionalized GNPs in its graphene-coated fabric, THERMiT.
- In March 2021, Haydale Graphene Industries plc. has been awarded with GBP 1.1 million loan facility by Innovate UK Loans Limited. With the support of Innovate UK, Haydale has planned to expand its capacity to manufacture functionalized nanomaterials including Graphene over 30 tons per annum.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Rising Applications from Electronic Sector
4.1.2 Increasing Adoption in Biomedical Devices
4.2.1 High Costs Associated With Synthesis
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1.1 Graphene Oxide (GO)
5.1.2 Graphene Nano Platelets (GNP)
5.1.3 Other Types
5.2 End-user Industry
5.2.1 Electrical and Electronics
5.2.3 Automotive and Aerospace
5.2.4 Building and Construction
5.2.6 Other End-user Industries
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.2 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.3.4 South America
18.104.22.168 Rest of South America
5.3.5 Middle-East and Africa
22.214.171.124 Saudi Arabia
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Haydale Graphene Industries plc
6.4.2 Versarien plc
6.4.3 GrapheneTech, S.L.
6.4.4 NanoXplore Inc.
6.4.6 Applied Graphene Materials
6.4.7 XG Sciences
6.4.8 Directa Plus S.p.A
6.4.9 Abalonyx AS
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Emerging Applications of Graphene Nanocomposites
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Frequently Asked Questions
What is the study period of this market?
The Graphene Nanocomposites Market market is studied from 2017 - 2027.
What is the growth rate of Graphene Nanocomposites Market?
The Graphene Nanocomposites Market is growing at a CAGR of >30% over the next 5 years.
Which region has highest growth rate in Graphene Nanocomposites Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Graphene Nanocomposites Market?
Asia-Pacific holds highest share in 2021.
Who are the key players in Graphene Nanocomposites Market?
Haydale Graphene Industries plc, GrapheneTech, S.L., NanoXplore Inc., XG Sciences, Aztrong are the major companies operating in Graphene Nanocomposites Market.