Global graphene-enhanced composites market is forecast to grow at a CAGR of around 25% during 2019-2024, as per Reportbuyer.
Notably, graphene is an allotrope of carbon consisting of a single layer of carbon atoms arranged in a hexagonal lattice. Graphene can be added to metals, polymers and ceramics to create composites that are conductive and resistant to heat and pressure. Usage of graphene in enhanced composites is increasing owing to its properties to enhance the conductivity and strength of bulk materials and help create composites with superior qualities.It is mostly added with various polymers for superior lightweight materials. However, Graphene can also be added to metals and ceramics to create composites that are conductive and resistant to heat and pressure. The market of graphene in enhanced composites has been segmented into composite type, graphene type, application and region.
The market has been segmented into graphene-enhanced polymer composites, graphene-enhanced ceramic composites and graphene-enhanced metal composites. Markedly, graphene-enhanced polymer composites are majorly used across several applications such as polymers facilitate simple fabrication process with graphene, as compared to the other types. Additionally, polymer requires graphene in smaller amounts, compared to both metal and ceramic. Aerospace & defense segment leads global graphene-enhanced composites market, since the segment is effectively exploiting graphene-enhanced composites for both military and civil aircraft. The use of graphene in enhanced composites in aircraft has led to improvement in the aircraft efficiency, reduction in fuel consumption and development of aircraft with less carbon emissions.
Europe accounted for the largest market share in the market in 2018. Europe is one of the largest graphene material manufacturers and suppliers and is home to a state-of-the-art process of innovation for graphene-enhanced composites.The governments of several countries in Europe are highly supportive of the potential steps taken by the major players towards advancement of graphene-enhanced composites. Furthermore, governments are funding numerous research initiatives for the commercialization of graphene. Apart from the government funding, major players in Europe are also increasing their R&D investment to promote an early commercialization of graphene-based products.