Published: Oct, 2018
The demand within the global market for graphene composites has been rising on account of the expansive industrial uses of graphene, finds Transparency Market Research (TMR). The global market for graphene composites has been witnessing the entry of several newbie players into the global market over the past decade. This trend can be attributed to the high profit margins of vendors dealing in graphene composites and the weak barriers to the entry of new players into the global graphene composites market.
It is also expected that the leading market players in the global graphene composites would strengthen their counter mechanism to avert the entry of new market players in the global market. Some of the key strategies that the mammoth-sized players in the global graphene composites market are expected to resort to include acquisition of smaller players, improved marketing, and product-quality enhancement. Graphene Industries PLC, Graphene NanoXplore Inc., Nanochem plc, and Applied Graphene Materials plc are some of the key players in the global graphene composites market.
The global market for graphene composites is expected to expand at a whopping CAGR of 40% over the period between 2017 and 2026, finds Transparency Market Research. The total value of the global market for graphene composite was US$ 6.3 Mn in 2017, and is expected to increase by leap and bounds. On the basis of end-use industry, the demand for graphene substitutes has been the highest in the electronics industry. Based on geography, the commendable industrial growth in India and China has increased the demand for graphene composites in Asia Pacific.
Wide Application-Portfolio of Graphene to Propel Demand
The splendid properties exhibited by graphene have emerged as a key reason behind the growth of the global market for graphene composites. The characteristics of end-materials produced through the use of graphene composites can be given a mark of distinction through improved quality and increased strength. Furthermore, the application of graphene composites in the defence and aerospace sector has also been propelling demand within this market. Besides this, the government has made ardent efforts to initiate core research and development of graphene composites which shall also play prudent role in market growth. Other key industries where graphene substitutes come in handy include electronics, construction, energy storage, automotive, and textiles.
Low Production Standards to Hamper Growth
Despite the presence of favourable factors for market growth within the global market for graphene composites, the demand could be restrained by the unavailability of apt production facilities across several regions. A number of industries have to suffer backlogs due to inadequate supply of graphene composites, and this places a negative toll on the overall market. Nevertheless, the use of graphene composites in the manufacture of medical devices, paints, and consumer electronics shall continue to bolster demand within the global graphene composites market. Moreover, exfoliation of graphene, a useful method for manufacturing graphene composites, has gained popularity across the globe. This factor shall also be a major driver of demand within the global market for graphene composites in the years to come.
The review is based on TMR’s report titled “Graphene Composites Market (Product Type - Polymer based Graphene Composites, Ceramic based Graphene Composites, Metal based Graphene Composites, Others (Cement, Carbon Fillers, etc.); End use Industry - Electronics, Building and Construction, Aerospace, Automotive, Aerospace, Energy Storage and Generation, Others - Textiles, Paints and Coatings, Health Care Devices) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2026”.
The Global Graphene Composites Market is segmented as Follows:
Global Graphene Composites Market, by Product Type
- Polymer-based Graphene Composites
- Ceramic-based Graphene Composites
- Metal-based Graphene Composites
Global Graphene Composites Market, by End-use Industry
- Building & Construction
- Energy Storage & Generation
Global Graphene Composites Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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