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Graphene Composites Market Growth Analysis Report By Product (Polymer-based Graphene Composites, Metal-based Graphene Composites, Ceramic-based Graphene Composites), By Application (Sports & Wearable Goods, Aerospace & Defense, Automotive) By Region - Dynamics, Share, Insights And Forecast Till 2023- 2030

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Graphene Composites Market Overview

“The global Graphene Composites Market is expected to grow rapidly at a 39.85% CAGR consequently, it will grow from its existing size of from $30.78 million in 2023 to $890.5 million by 2030.”

Introduction and market status of graphene composites

What exactly are composite materials?

Composite materials, also known as composition materials or composites, are formed by combining diverse components to create a unique end product. These materials remain separate within the final composite structure, allowing them to be stronger, lighter, or more durable than traditional materials due to the unique qualities gained through their mixing.

Fiberglass, developed in the 1940s as the first modern composite, is a common example of a structure where a binder surrounds a cluster of fibers or stronger substances. Fine glass threads, woven into a cloth-like structure, act as reinforcement in the plastic or resin matrix.

Composite materials, such as cement, concrete, metal, plastic, and ceramic, are not new concepts but have evolved with modern technologies. These materials can be built with specialized qualities for specific applications by selecting the right matrix and reinforcement, and utilizing the optimum manufacturing procedure. Examples of common composite materials include cement, concrete, metal composites, plastic composites, and ceramic composites.

Graphene Composites Market | Market Report Service

What is the manufacturing process for composite materials?

The matrix, reinforcement, and manufacturing process are crucial factors in creating a composite material. Reinforced plastics, often used as a matrix, are thermosetting or thermosoftening plastics that maintain the reinforcement and enhance the final composite's physical properties.

Thermosetting polymers, which are rigid at low temperatures but soften with heat, are highly durable and resistant to harsh chemicals and wear. They are less commonly used but offer long shelf life and recycling capabilities. Other matrix materials used for specific applications include ceramics, carbon, and metals.

Glass fibers are the most commonly used reinforcement materials, but carbon fibers, stronger but more expensive, are also used in advanced composites. These lightweight, strong, and durable composites are used in aircraft structures, sporting equipment, and replacing metals used to replace human bones. Polymers are also used as reinforcement materials in creating strong and lightweight composites.

A mould is a crucial tool in manufacturing, where reinforcement is inserted before the semi-liquid matrix is poured in. Historically done by hand, machine processing is increasingly popular. Pultrusion is a new technology that produces straight, consistent beams. Thin or complex-shaped products like curved panels are made by placing woven fiber reinforcement over a mould. Advanced composites, like those used in aviation, are often made of a plastic honeycomb sandwiched between two sheets of carbon-fiber reinforced composite material.

Demand Outlook

Research is ongoing to develop innovative graphene composites with various applications. A graphene-dioxide composite has shown photocatalytic efficiencies, and more materials could be combined to create composites in the future. One graphene polymer is lightweight, flexible, and a strong electrical conductor.

Graphene composites enhance polymer strength, stiffness, and toughness, suitable for use in structural materials like airplane components, wind turbine blades, and sports equipment.

  • The extensive application of graphene across a range of industries due to its beneficial features is expected to boost demand for graphene composites.
  • Government initiatives that support the use of graphene composites in a variety of applications are expected to drive market expansion in the coming years.
  • Efforts undertaken by market participants to reduce demand and increase profit margins by utilizing the power of R&D and increasing technology to enable product creation through automation are expected to drive the market in the long run.

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Market Dynamics

Growth Drivers

The market growth is being facilitated by an increase in demand for lightweight materials.

The demand for lightweight materials in aerospace and automotive industries is driving the rise of graphene composites due to their superior thermal and electrical conductivity, rigidity, and weight qualities, which aim to enhance fuel efficiency without compromising performance or safety.

Graphene composites, magnesium alloys, and high-strength steel are lightweight materials that require less energy to accelerate than traditional materials like steel and cast iron. These composites can significantly improve vehicle economy by reducing weight by 10% to 15% and improving fuel efficiency by 6% to 10% while adhering to environmental laws.

Importance of investing in research and development to foster market growth

Graphene research and development are thriving in China, the US, and other countries due to favorable government policies and financing. Countries are expanding their innovation strategies to enhance production technology for graphene composites.

China is leading in the introduction and patenting of graphene and graphene-related products, investing heavily in composite materials and graphene. This move aims to increase the value of advanced materials in the industrial sector, despite the technology gap in underdeveloped economies.

Restraints

Potential for high production costs to create a roadblock

Graphene composites offer versatile applications across industries due to their multifunctionality. However, their high cost restricts their global market growth. The price of these composites is influenced by manufacturing costs, graphene pricing, and product quality, as graphene is a rare material, requiring specific grade and application variation.

The CVD process is used to produce high-quality monolayer and few-layer graphene, but manufacturers struggle to produce large volumes due to insufficient production techniques for graphene composites.

The production of graphene composites faces challenges such as the use of expensive equipment, potential harm to human health and the environment, which limit its large-scale production.

Market Segment Analysis

The popularity of polymer-based composites is attributed to their high strength, durability, and adaptability to various environmental conditions.

Combining graphene with polymers can enhance its mechanical reinforcement benefits over traditional carbon fillers like carbon black, SWNT, and EG.

Graphene and its derivatives have been integrated into a range of polymers, including epoxies, polystyrene, polypropylene, and polyethylene, to name a few. The demand for applications in lightweight vehicles and end users is increasing.

The automotive industry plays a crucial role in boosting the demand for graphene composites

The automotive industry is utilizing graphene to create composites with enhanced mechanical properties, increasing tensile strength. These lightweight composites reduce vehicle weight, enhancing efficiency and fuel savings. This has led to a significant surge in demand for graphene-related automotive components.

Graphene composites, being lighter and more durable than steel, are being utilized in the automotive industry to create lightweight, energy-efficient, and safe vehicles, thereby reducing CO2 emissions and improving fuel efficiency.

Competitive Landscape of the Graphene Composites Market

  • PLC
  • Graphene Nanochem plc.
  • NanoXplore Inc.
  • Applied Graphene Materials plc.
  • XG Sciences Inc.
  • Directa Plus PLC Company
  • Graphene Composites Limited (GC)
  • Graphene 3D Lab Inc.
  • G6 Materials Products
  • Graphmatech AB
  • Nano Graphene Inc.
  • PMG 3D Technologies Company Limited.

Recent Developments in Graphene Composites Market

In 2022, G6 Materials Corp announced the launch of a redesigned website for Graphene-Supermarket.com.

In 2022, Graphene Composites signed an agreement with NASA to license one of their patented nano-material products in the research & development programs.

In 2022, Graphene Composites invented a unique coating for air fillers called GC Haloä that destroys viruses and bacteria on contact.

Regional Insights

What is the outlook for Graphene Composites in the United States?

The US graphene composites market, valued at $4.12 million in 2022, is driven by high defense spending, significant R&D investment, and numerous suppliers, making it a key growth driver in the industry.

The US government's strict regulations and increased military spending on security maintenance are driving its rapid market expansion, prioritizing the safety of its defense personnel.

The surge in demand for graphene composites is attributed to substantial capital expenditures on infrastructure and the growing demand for customized autos that utilize composites for desirable features and performance.

The growth prospects for Chinese Graphene Composites Manufacturers are expected to be promising.

China's market value is predicted to reach $30.35 million by 2030, largely due to its significant influence in the building and construction industry, particularly in athletic goods and aerospace and defense items.

The Chinese vehicle sector is experiencing rapid growth and is expected to continue expanding in the future, providing positive prospects for graphene composites manufacturers.

Segments Covered in the Graphene Composites Market

Graphene Composites Market By Product :

  • Polymer Based
  • Metal Based
  • Ceramic Based

Graphene Composites Market  By Application :

  • Sports & Wearable Goods
  • Aerospace & Defence
  • Automotive
  • Building & Construction
  • Energy Storage & Generation

Graphene Composites Market By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA

Frequently Asked Questions:

What is the Estimated Valuation of the Graphene Composites Market in 2023?

The market is expected to reach a valuation of US$ 30.78 million by 2023.

What is the Projected CAGR for the Graphene Composites Market from 2023 to 2030?

The market is expected to grow at a CAGR of 39.85% by during the forecast period.

Which Countries are likely to Contribute to the Growth of the Graphene Composites Market?

The top five countries driving the demand for graphene composites are the U.S., China, Japan, Canada, and Germany.

Which Regional Graphene Composites Market Accounts for A Leading Market Share?

East Asia accounts for about 40.0% share of the global graphene composites market.

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