Graphene Composites Market Trends

Growth Drivers

• Higher Flexibility and Light Weight of Graphene Composites – Graphene Composites are highly flexible and are light in weight which drives the growth of this market globally. Graphene composites are used in aircraft and automobiles to make them light in weight but at the same time, they must not compromise the performance and safety of the vehicle. The lightweight property of graphene composites can reduce vehicle weight by 10-15%.
• Increasing Application of Graphene Composites for Electronics – Growing application of graphene-based composites in the electronic industry is anticipated to drive the growth of this market in the forecast period. One of the most significant applications of graphene composite in electronic devices is that it works as a very good semiconductor in electronic devices. Besides, it is also used as a coating for changing touch screens in smartphones and also changing screens in monitors and televisions.  For instance, graphene composites are capable of sparking next-generation electronics globally.
• Growing Research & Development Expenditure to Aid Growth – Growing investment and funds by government and market players of various regions in the research and development of the graphene composites market are propelling the growth of the market. Sixth Element Material Technology repeatedly invested in research and development to develop a novel formulation to enhance polymer-based composites' mechanical, electrical, and thermal properties.
• Growing Demand in End-User Industries – Graphene Composites have high demand in end-user industries including automotive, aircraft, aerospace, medical implants, renewables, and others.  A study written for said India Brand Equity Foundation in July 2022 states that India produced 22.93 million cars in FY22.

Challenges

• High Cost of Graphene Composites – Graphene composites have a high potential to get employed in various end-user industries but their high cost restricts the market to grow more. Graphene is not a material, it is available in different forms and applied for different purposes in different forms. These different forms of graphene composites are high in cost.
• Lack of Adequate Production of Raw Materials
• Non-Availability of Good Production Amenities