Driving Force

Owing to the favorable properties of graphene composites, their high usage in various end-use industries is expected to drive the demand for them during the forecast period.

Due to the advantages of high strength, light weight, and good electrical conductivity, graphene composite materials have seen a surge in demand in the automotive and aerospace fields. In addition, advanced materials, including graphene and its composite materials, are important for reducing the fuel consumption of automobiles. Without compromising performance and security is critical. This is expected to drive the growth of the graphene composites market in the automotive industry.

Limit

However, lack of skilled labor is restraining the expansion of the global graphene composites market during the forecast period. Furthermore, high prices of graphene polymers restrain the overall growth of the market. Meanwhile, high production costs and demand for advanced machinery will slow down the market. On the other hand, manufacturers are turning to alternatives to graphene composites due to high production costs and rising raw material prices.

Chance

Factors such as global population growth, increased infrastructure activities, urbanization and industrialization are driving the development of the construction industry, and graphene composites are used as coatings and protective layers, enabling construction companies to use less concrete and reduce greenhouse gases emissions, thereby making construction companies durable.

The graphene composites market has witnessed significant growth owing to increasing demand for paints and coatings in the construction industry. Taken together, these factors are expected to create lucrative opportunities for market expansion of graphene composites in the future.

Challenge

Market growth is expected to be challenging in the coming years due to lack of good production facilities and lack of product availability in many regions during the forecast period. Additionally, rising raw material prices and non-technical installation costs may be a challenging factor for the graphene composites market.

Polymer-based product type dominated the market in 2021 and is expected to grow over the forecast period. Graphene is added to polymers to give the material excellent properties, mechanical robustness, thermal conductivity and electrical conductivity, so it is widely used in gasoline cans, plastic containers, sportswear and many other fields. Moreover, government investments and startups in the aerospace, construction, and automotive industries have boosted the growth of polymer graphene composites. This is expected to increase the demand for graphene composites in the market.

Depending on the application, this section includes:

• Sports and Apparel
• Aerospace and Defense
• Car & Building
• Energy Storage and Generation
• Others