A promising future for graphene market in the automotive industry

Global Market Insights, Inc., says that graphene market size will surpass USD 400 million valuation by 2026. Carbon fibers have been a mainstay of automotive production for several decades. However, the manufacturing of carbon fibers is generally very expensive. The proliferation of graphene nanocomposites could turn out to be a game changer for the automotive industry. A team of researchers recently claimed that the use of the high-strength, lightweight nanomaterial could be used to improve safety and reduce the cost of car manufacturing.

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Using a mix of laboratory experiments and computer simulations, the team discovered that the addition of small amounts of graphene to the production process strengthens carbon fibers and reduces the manufacturing cost. The team revealed that the addition of trace amounts of graphene, nearly 0.075% concentration by weight, the initial stages of the process allowed the team to make carbon fibers with 225% more strength and 184% more stiffness compared to conventionally manufactured PAN-based carbon fibers.

Major growth restraints and COVID-19 impact
High manufacturing costs and several environmental concerns associated with graphene production may restrict its adoption slightly. The lack of availability of raw materials due to the ongoing COVID-19 crisis has resulted in a notable demand-supply gap. Also, government-enforced shutdowns in many countries have disrupted automotive and electronics manufacturing activities.

Based on product type, the graphene industry is segmented into graphene nanoplatelets, graphene oxide, monolayer & bi-layer graphene and more. Of these, mono-layer graphene is widely used in microelectronics applications like micro- and nano-electromechanical systems, conductive coatings, flexible batteries, and chemical and biological. It is usually manufactured on the surface of copper by CVD process.

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Whereas bi-layer graphene has zero band gap. However, researchers are exploring its potential to develop ultrahard carbon films and field-effect transistors, ultrafast lithium-ion conductors, and superconductors. Reports suggest that monolayer & bi-layer graphene market would exceed 50 million valuations by 2026.

The electronics industry across the Asia Pacific region has been gaining a steady momentum which will prove to be beneficial for graphene market in the forthcoming years. Rise in the middle-class population and the increase in the disposable income at hand have been fueling the electronics consumption in India.

India has permitted a 100% flow of FDI for the electronics industry, under automatic route, with 49% of approved in the case of electronics used for defense. The Indian electronics sector is considered to be one of the world’s largest consumer markets, expected to reach US$400 billion by the year 2025, creating a positive growth prospect for graphene demand.

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https://www.globenewswire.com/news-release/2016/10/18/880265/0/en/Specialty-Chemicals-Market-size-worth-1-273-billion-by-2024-Global-Market-Insights-Inc.html

https://www.globenewswire.com/news-release/2016/12/28/901901/0/en/Coated-Paper-Market-size-forecast-to-exceed-57bn-by-2024-Global-Market-Insights-Inc.html

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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