The global graphene nanocomposites market is estimated to have a year-on-year growth with a 37.0% growth rate in 2022, surpassing a valuation of US$ 2,796.7 Million by 2031. An opulent CAGR of 32.5% is projected to drive sales throughout the forecast period of 2021-2031.
Future Market Insights presents a half-yearly growth comparison between previous projections and the current estimations. Owing to an array of industrial and innovation factors including research and development expenditure, and nanotechnology sector commercialization, advancement in the industrial sector is estimated to boost the growth outlook of the market.
The applications of graphene nanocomposites are multipurpose and used in diverse industries including medical, biomedical and energy storage segments. As per the FMI analysis sales in the graphene nanocomposites market represented 4.5% of the global nanocomposites market in 2020.
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Key Takeaways
- The rising demand for graphene oxide for diverse applications in medical and biotechnology for cancer biological therapy, cellular imaging and drug delivery are anticipated to push sales in the market.
- Owing to the growing demand in electronics, optics, medicine and biotechnology for cellular imaging, cancer therapy and drug delivery, sales prospects of graphene nanocomposites continue to bolster during the projected years.
- The primary reasons attributing to the increment in the growth rate incorporates substantial demand for semiconductors, higher demand for electronic items, an adaptation of nanotechnology in healthcare and other end-use industries, etc.
- A reasonable increase in the sales of graphene nanoplatelets is witnessed due to the enhanced properties of polymeric materials. Backed by such attributes continues to accelerate market expansion over the projection period.
- In order to be in charge, graphene nanocomposites have proved to be effective owing to their significant surface area, high stability, strong charge carrier mobility, and high conductivity.
- Countries like the US, China and South Korea are contributing significantly to driving sales of graphene nanocomposites with an impressive CAGR of 30.5% between 2018 and 2020. These countries are estimated to contribute to the market sales throughout the forecast period.
Competitive Landscape
Leading players operating in the graphene nanocomposites market are investing in strategic business agreements for the 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.
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.
More Insights into the Graphene Nanocomposites Market
According to FMI market analysis China is projected to account for more than one-fourth of the global market share with an impressive revenue of above US$ 623.8 Mn in 2031.
China is expected to dominate the graphene nanocomposites market across the globe. Owing to the increased investment in innovation and development of new products such as new silicon graphene nanocomposites for lithium-ion batteries is expected to spur market growth.
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Leading manufacturers in China are heavily investing in the electronics sector contributing to being a chief factor projected to fuel sales of graphene nanocomposites over the forecast period.
The North American region is projected to control the market, accounting for approximately 87.2% of the North American graphene nanocomposites market in 2031. In 2021, the market is expected to grow by 37.2% year on year, reaching a valuation of US$ 42.5 Mn.
Owing to the expansion of the medical and biomedical sector in the US is expected to bode well for the market over the forecast period.
Demand in 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.
Graphene Nanocomposites Markey by Category
By Product Type:
- Graphene Oxide (GO)
- Graphene Nano Platelets
By Application:
- Electronics
- Energy Storage
- Automotive & Aerospace
- Polymer Composites
- Medical & Bio-Medical
- Water Treatment
- Research & Development
By Region:
- North America
- Europe
- East Asia
- Rest of World
Things to Know:
- Current Market Value: The graphene nanocomposites market reached a valuation of US$ 167.5 million in 2021.
- Growth Rate (2018-2020): The market experienced robust growth, exhibiting a 30.5% CAGR between 2018 and 2020.
- Key Trends Driving Sales: The incorporation of green technology for graphene production and strategic business agreements for commercialization of graphene are key trends driving sales.
- Demand Outlook in North America: The North America graphene nanocomposites market is projected to grow at an impressive 32.1% CAGR during the forecast period.
- Market Share in East Asia: The graphene nanocomposites market in East Asia is anticipated to hold a market share of 44.0% by 2031.
- USA Market Share: The USA is anticipated to hold a market share of 24.0% in the global graphene nanocomposites market by 2031.
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