Graphene Nanocomposites Market Size (2024 - 2029)

Graphene Nanocomposites Market Analysis

The global graphene nanocomposites market is projected to register a CAGR of over 30% during the forecast period (2022-2027).

The market was negatively impacted by COVID-19 in 2020. Due to the COVID-19 outbreak in the first half of 2020, the electronics and semiconductor industry was significantly affected. This, in turn, has unfavorably impacted the consumption of graphene nanocomposites. The market is projected to grow steadily, owing to increased demand for electronics and semiconductors in 2021.

Over the short term, rising applications of graphene nanocomposites from the electronic sector and growing demand for graphene nanocomposites in the production of biomedical devices in developed and emerging economies worldwide are some of the driving factors augmenting the growth of the market studied.

However, the high cost associated with its synthesis is a key factor anticipated to restrain the growth of the target industry over the forecast period.

Nevertheless, emerging applications for graphene nanocomposites and the development of bio-based graphene nanocomposites will likely create lucrative growth opportunities for the global market soon.

The Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period. This growth is attributed to a rise in the consumption of graphene nanocomposites from the electronics, medical, packaging, automotive, and construction sectors in the countries of this region, including China, Japan, and India.

Graphene Nanocomposites Industry Segmentation

Graphene nanocomposites offer superior electrical, mechanical, optical, chemical, and thermal properties. These nanocomposites possess a high aspect ratio, which makes them ideal for reinforcement. Graphene nanocomposites are widely used to develop new materials for alternative energy sources. Some key applications of graphene nanocomposites include chemical and biosensors, energy storage devices, nanoelectromechanical systems, smartphones, ultra-thin flexible displays, transparent touchscreens, super-fast transistors, conductive coatings, fuel cells batteries, ultracapacitors, and bone tissue engineering applications, among others. The graphene nanocomposites market is segmented by type, end-user industry, and geography. By type, the market is segmented into graphene oxide (GO), graphene nanoplatelets (GNP), and other types. By end-user industry, the market is segmented into electrical and electronics, medical, automotive, and aerospace, building and construction, packaging, and other end-user industries. The report also covers the market size and forecasts for the graphene nanocomposites market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on value (USD million).