Graphene Composites Market Growing at a CAGR of 37.5% by 2027 | Increasing demand in Aerospace and Defense Segment

The global graphene composites industry was pegged at $13.1 million in 2019, and is projected to reach $109.4 million by 2027, growing at a CAGR of 37.5% from 2020 to 2027.

Allied Market Research recently published a report, titled, "Graphene Composite Market by Product Type (Polymer Based, Metal Based, Ceramic Based, and Others), and Application (Sports & Wearable Goods, Aerospace & Defense, Automotive, Building & Construction, Energy Storage & Generation, and Others): Global Opportunity Analysis and Industry Forecast 2020-2027".

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Drivers, restraints, and opportunities
Rise in demand for lightweight materials and increase in R&D expenditure by developed and developing countries have boosted the growth of the global graphene composites market. however, high cost of graphene-enhanced composites hinders the market growth. On the contrary, surge in graphene producers is expected to open lucrative opportunities for the market players in the future.

Major Market Players
⦁ Ad-Nano Technologies Pvt. Ltd. (Ad-Nano Technologies)
⦁ G6 Materials Corp (G6 materials)
⦁ Haydale Graphene Industries plc. (Haydale Graphene)
⦁ Graphene Composites (GC)
⦁ Graphene One LLC.
⦁ Graphenano Group (Graphenano)
⦁ XG Sciences
⦁ NanoXplore Inc.
⦁ Graphmatech AB (Graphmatech)
⦁ Gnanomat

Key findings of the study
⦁ The report outlines the current graphene composites market trends and future scenario of the market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
⦁ The graphene composites market size is provided in terms of revenue.
⦁ On the basis of product type, the metal-based segment is expected to grow at a CAGR of 37.6%, in terms of revenue during the forecast period.
⦁ On the basis of application, the aerospace & defense segment gained 16.4% share in 2019 in terms of revenue.
⦁ On the basis of product type, the ceramic based segment garnered a share 6.2% in 2019 in terms of revenue.
⦁ On the basis of region, North America garnered a share of 36.3% in 2019 in terms of revenue.

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The polymer-based segment dominated the market
By product type, the polymer-based segment held the largest share in 2019, accounting for nearly half of the global graphene composites market, due to its adoption in numerous applications such as automotive, aerospace, and energy storage & generation. However, the ceramic-based segment is projected to register the highest CAGR of 38.8% during the forecast period, owing to its superior mechanical strength, high conductivity, and thermal resistance.

The automotive segment held the largest share
By application, the automotive segment dominated in 2019, contributing to nearly one-third of the global graphene composites industry, due to high demand for lightweight vehicles, which consequently, surges the demand for graphene composites. However, the aerospace & defense segment is anticipated to register the highest CAGR of 38.3% during the forecast period, owing to increased contribution of developing regions such as APAC and LAMEA in the aerospace and defense sector.

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Asia-Pacific, followed by North America, held the lion's share
By region, the global graphene composites market across Asia-Pacific, followed by North America, held the largest share in 2019, accounting for nearly two-fifths of the market. The region is expected to showcase the highest CAGR of 38.1% during the forecast period, owing to rise in consumer bases such as automotive, aerospace, and construction industry.

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