The global graphene nanocomposites market surged to a value of US$ 167.5 million in 2021, with a projected exponential growth at a robust 32.5% compound annual growth rate (CAGR) fueled by expanding applications within the electronics sector, particularly in devices and semiconductors. This surge in utility is expected to propel the market to a staggering valuation of US$ 2,796.7 million by 2031. As graphene continues to revolutionize various industries, particularly in enhancing electronic components, its adoption is poised to redefine the market landscape, offering substantial opportunities and advancements in the coming decade.
Rising demand for graphene nanocomposites for applications in medicine, water treatment, research, aerospace, polymer composites, electronics and optics is boosting sales in the market. Besides this, increasing adoption of innovative techniques to commercialize graphene nanocomposites is also boding well for the market.
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Consumer preference for graphene oxide for various end uses like cellular imaging, drug delivery, and cancer treatment, is creating lucrative growth prospects for graphene nanocomposites market players.
As per FMI’s regional analysis, the U.S. is anticipated to dominate the global graphene nanocomposites market. Growth can be attributed to the presence of leading players such as Angstron Materials, Inc., along with the country being a top player in medical research and the bio-medical sector.
“Increasing demand for graphene oxide nanocomposites in the paints & coatings industry, along with expansion of the electronics sector in emerging economies will continue pushing sales in the market over the assessment period,” says the FMI analyst.
Key Takeaways:
- By product type, sales in the graphene oxide segment are expected to increase at a 31.3% CAGR over the forecast period.
- Demand for graphene nanocomposites in the electronics industry is anticipated to create an incremental opportunity of US$ 597.7 Mn over the assessment period.
- The U.S. is anticipated to hold a dominant share of 87.2% of the North America graphene nanocomposites market by 2031.
- China will emerge as a lucrative market, creating an incremental opportunity of US$ 623.8 Mn in 2031.
- Germany is projected to account for 22.0% of the Europe graphene nanocomposites market share in 2031.
- South Korea and Russia will hold 10.3% and 4.1% of the global graphene nanocomposites market share respectively in 2021.
Competitive Landscape
Versarien Plc, Haydale Graphene Industries Plc, Graphenea S.A, XG Sciences Inc., Applied Graphene Materials PLC, Taiwan Graphene Co., Ltd., and others are some players operating in the graphene nanocomposites market profiled by FMI.
Leading players operating in the graphene nanocomposites market are investing in strategic business agreements for commercialization of graphene and are focusing on 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:
In March 2021, First Graphene Ltd collaborated with Gerdau S.A. to develop the market for PureGRAPH graphene products, which are graphene platelets that enhance the performance of cement composites, in the Americas.
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More Insights into the Graphene Nanocomposites Market Report
In its latest report, FMI offers an unbiased analysis of the global graphene nanocomposites market, providing historical data for the period of 2018-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (graphene oxide and graphene nano platelets), and application (electronics, energy storage, automotive and aerospace, polymer composites, medical and bio-medical, water treatment, and research and development) across four regions (North America, Europe, East Asia, and Rest of World).
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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