The Global Graphene Nanoplatelets Market is expected to reach USD 206.0 million by 2025, according to a report by Hexa Reports. The rising demand for lightweight composite materials in numerous end-user industries is expected to propel the market growth.
The product has unique mechanical properties including high tensile strength, surface hardness, and stiffness. Layered composition of the particles imparts superior thermal and electrical properties of the product as compared to conventional carbon compounds. Furthermore, the unique platelet morphology of these nanomaterials leads to improved barrier properties. Therefore, nano-dimensional size, material composition, and thermal & electrical conductivity encourage their usage in composites, energy & power, conductive inks & coatings, and lubricants.
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Enhanced toughness, scratch resistance, and abrasion resistance have fueled the usage of the product in composites. Composites based on graphene nanoplatelets are experiencing surging demand in the automotive, aerospace, and construction industries. The growing demand for advanced composite materials in several end-user industries is anticipated to propel the market growth over the forecast period.
North America held the largest share of the global market in 2016 owing to significant demand for high-performance composites and sustainable energy & power storage system. Considerable presence of various aircraft and automotive manufacturers has boosted the demand in the U.S. over the past few years. Asia Pacific is projected to witness spurring demand for graphene nanoplatelets over the forecast period. Supportive governmental policies in countries including China and India are expected to favor the market growth in Asia Pacific.
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Further key findings from the report suggest:
- The global graphene nanoplatelets market was valued at USD 11.9 million in 2016 and is expected to grow at a robust CAGR of 37.6% from 2017 to 2025, driven by the increasing consumption in key end-use verticals such as aerospace and energy & power
- Advantageous features including electrical conductivity, thermal stability, and increased stiffness have encouraged the consumption of the product in various applications
- Composites application segment is expected to dominate the global market owing to significant demand in the aerospace & defense, automotive, and construction sectors
- In terms of revenue, the composites segment accounted for around 31% share of the global market in 2016 followed by energy & power
- Energy & power is predicted to be the fastest-growing application segment of the global market owing to increased use of graphene nanoplatelets in lithium-ion batteries, lead batteries, and ultracapacitors
- In terms of revenue, North America held the largest share of the global market in 2016 owing to significant demand in developed countries such as the U.S. and Canada
- Asia Pacific is estimated to dominate the global market by 2025, surpassing North America. Prospective industrial growth in countries including China, India, and Japan are likely to attribute to the rapid growth in the Asia Pacific region.
- Key players include XG Sciences, Inc.; ACS Materials LLC; CVD Equipment Corporation.; Angstron Material Inc.; and Group NanoXplore Inc. The market is fragmented in nature owing to the presence of numerous small and medium-scale producers.
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