Global graphene nanocomposites market is likely to amass considerable gains over 2021-2027. The growth is attributed to the potential applications of graphene-based nanomaterials in storage systems and electrical sectors. The high surface area and electrical conductivity, porosity, as well as mechanical and electrochemical stability of graphene have contributed to its rising adoption in energy storage devices. Furthermore, its ability to yield a strong, fire-resistant, durable, flexible, stiff, UV resistant, and lightweight composite material will further boost the industry growth in the years ahead.
A nanocomposite refers to a multiphase material, in which one of the phases has one, two or three dimensions below 100-nm, or its composite phases have nanoscale distance between them. Graphene is considered an ideal filler for high-performance, multi-functional nanocomposites due to its superior electrical, mechanical, thermal, and optical properties.
Rapid increase in graphene nanocomposite material demand due to its technologically relevant properties is one of the prominent trends bolstering the graphene nanocomposites market share. Magnetic graphene, for instance, has shown strong potential as a suitable material for developing ultra-compact spintronic devices, according to experiments conducted by physicists from Columbia University and the Netherlands-based University of Groningen. Moreover, the escalating use of graphene nanomaterials in the fabrication of biomedical devices due to their physical, optical, and electrochemical properties will further boost the industry growth.
In terms of application, the building and construction segment is poised to depict a high growth rate through 2027. This is due to the capability of graphene-reinforced cement composites to exhibit exceptional mechanical properties, multi-functionality, and durability given their unique intrinsic properties. The segmental expansion will also be stimulated by the rapid R&D activities to identify the enhancement technique of loess, a construction material, based on the co-effects of graphene oxide and cement.
On the regional front, the Asia Pacific is expected to register significant revenue by 2027. This can be credited to the commendable expansion of the electronics industry in emerging economies such as India. As per studies, the electronics sector in the country was expected to reach a valuation of over $400 billion in 2020. The implementation of various policies specific to this sector, like the National Policy of Electronics and Net Zero Imports in Electronics, will further augment the regional graphene nanocomposites market forecast in the upcoming years.
The competitive landscape of the graphene nanocomposites industry consists of companies such as Haydale Graphene Industries, Versarien, NanoXplore, and Talga Resources, among others. Strategic mergers and acquisitions and innovative product launches are being employed by these market players to reinforce their positions across the global market.
For instance, NanoXplore Inc. and Gerdau Grafeno LTDA inked a multi-year supply and distribution agreement in June 2021. This deal was entered with an objective to expand graphene nanocomposite application scope in various markets, especially the concrete and construction sectors.
COVID-19 Impact on Graphene Nanocomposites Market Trends:
In light of the coronavirus outbreak, construction industry members such as developers, owners, contractors, supply chain vendors, and subcontractors have been experiencing varying degrees of disruptions. Direct impacts included the slowdown and suspension of available goods and labor, as well as the termination projects. This fluctuation in construction activities in various regions worldwide has created challenges to graphene nanocomposites production over the past months.
However, a surge in consumer electronics demand amid the pandemic and the subsequent rise in investment interest towards semiconductor production may aid the graphene nanocomposites industry recovery in years to come. For example, in March 2021, the Indian government announced plans to offer above $1 billion each to the semiconductor companies that set up manufacturing units in the country. This initiative was taken with an aim to bolster the smartphone assembly industry size and strengthen the electronics supply chain across the region.