Rockville, May 02, 2023 (GLOBE NEWSWIRE) -- The demand for graphene composites in the global market is expected to reach US$ 32.9 million in 2023 and increase at a growth rate of 40.3% from 2023 to 2033.
Graphene composites possess outstanding mechanical, electrical, and optical power coupled with dimensional stability as well as resistance to high temperatures, flames, and others. In order to create composites that are conductive, and resistant to high temperatures, graphene is combined with other materials like polymers and metals. For instance, the addition of graphene to rubber improves its conductivity, impermeability, and strength. These engineered materials such as graphene composites are mainly used in aerospace, renewable energy, and other industries.
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The graphene market's prominent application is in the automotive and transportation sector. The automotive sector has numerous applications for graphene, including tires, anti-breaking systems, car batteries, and composite structural components. The incorporation of graphene into automobile components aims to lower the weight by serving as a co-reinforcement with carbon or glass fibers. Hence, the growing automotive industry creates lucrative opportunities for market growth.
Key Takeaways from Market Study
- China projects a growth rate of 43.2% and remains a prominent country for the graphene composites
- Metal based composites are projected to record over 25.7% growth rate during the forecast period
- Consumption of graphene composites in European countries is expected to expand over 31.8% during the forecast period
- The global graphene composites market is expected to propel at a CAGR of 40.3% by the end of the forecast period
- Consumption of polymer-based graphene composites is expected to propel at a CAGR of 28.6% by end of 2033
Surging Demand for Engineered Lightweight Materials is Likely to Drive Graphene Composites Market During the Projection Period says a Fact.MR analyst
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Key Strategies by Market Players
- Haydale Graphene Industries PLC
- Graphene Nanochem plc
- NanoXplore Inc
- Applied Graphene Materials plc
- G6 Materials Corp
- XG Sciences Inc
- Drecta Plus PLC Company
- Graphene Composites Limited GC
Market players are adopting numerous ground-breaking strategies to curb the demand pool and gain high-profit margins. Offering products at low price points and innovative product development remains the go-to strategy for the market players operating in the graphene composites market.
For instance,
Haydale has unveiled Graphene-enhanced prepreg material. Innovators Warwick Ltd., Airbus UK, BAE Systems, GE Aviation, and Element Materials Technologies worked together to develop the material. This material is prepreg material with carbon fiber-reinforced composites exhibiting enhanced electrical conductivity.
Segmentation of Graphene Composites Industry Research
- By Product :
- Polymer Based
- Metal Based
- Ceramic Based
- By Application :
- Sports & Wearable Goods
- Aerospace & Defence
- Automotive
- Building & Construction
- Energy Storage & Generation
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global graphene composites market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of product (polymer-based, metal-based, and ceramic-based), and application (sports & wearable goods, aerospace & defense, automotive, building & construction, energy storage & generation) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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