Increased incidence in demand for high hardness and tensile strength materials are driving the demand for the market.
The Global Graphene Nanoplatelets Market is projected to reach USD 234.1 million in 2027. In various end-user industries, the growing demand for lightweight composite materials is expected to fuel growth in the industry.
Specific mechanical properties like high tensile strength, stiffness of the surface, and rigidity are the crucial factors that help heighten the market demand. Compared with traditional carbon compounds, layered particle structure provides the substance superior thermal and electric properties. In addition, these nanomaterials have a unique platelet morphology that leads to improved barrier properties. The nano-dimensional dimensions, the composition of the material, and thermal and electrical conductivity, therefore, encourage their use in composites, energy, and power, conductive inks, coatings, and lubricants.
The use of the product in composites was fueled by increased toughness, scratch resistance, and abrasion resistance. Graphene-based composites are facing increasing demand in the automotive, aerospace, and construction sectors. In several end-user industries, the increasing demand for advanced composite composites is expected to fuel market growth in the forecasted period.
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Due to significant demand for high-performance composites and for a sustainable energy energy storage system, North America has the most significant share in the overall market. Different aircraft and car producers have increased their demand in the United States in recent years. Their presence has been substantial. The demand for nanoplatelets of graphene in Asia-Pacific is expected to increase over the prediction period. Supporting governmental policies are expected to promote market growth in Asia-Pacific in countries, including China and India. Amidst this problem, the outbreak of the COVID-19 pandemic has added to the problems, and there is a lack of skilled labor. This is hindering the market's growth to a certain extent.
The COVID-19 impact:
The pandemic of COVID-19 would possibly disrupt the development of the industry to some degree. Big players in the industry are pessimistic about the market's prospects and continue to reinvent their sustainability strategies. The pandemic had a significant effect on the composite industry, and most major manufacturers were forced to halt production and other operations. Labor is scarce in different parts of the world because of frequent lockdowns. The international trade, exports, and imports were affected by COVID-19; consequently, there was also a significant decrease in demand in the industry. The major corporations are operating on the market attempt to clear their stocks and concentrate on keeping their cash balances. This pandemic, in a sense, also represents a chance for the development of the industry. The average disposable income of individuals is likely to decrease, and producers are trying to find creative ways to satisfy consumer requirements at a substantially lower cost.
Key players in the market include Angstron Materials Inc, CVD Equipment Corporation, ACS Materials LLC, XG Sciences, Inc., Thomas Swan Ltd., Group NanoXplore Inc., Graphene Laboratories Inc., Directa Plus PLC, Haydale Graphene Industries Inc., and Xiamen Knano Graphene Technology Ltd., among others.
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Further key findings from the report suggest
- The global market for graphene nanoplatelets is projected to increase at a robust CAGR based on increased consumption in key end-use areas such as aerospace and energy and power.
- Advantageous characteristics such as electric conductivity, thermal stability, and increased rigidity have promoted product consumption in various applications.
- Due to the strong demand in the aerospace defense, auto and construction industries, the Composites segment is expected to dominate the global market.
- Energy power is expected to be the world's fastest-growing segment of the application due to increased use by lithium-ion batteries, lead, and ultracapacitors of graphene nanoplatelets.
- As for sales, in developed countries, including the U.S. and Canada, North America is the largest share of the world market due to massive demand.
- Asia-Pacific, is expected to outperform the North American market in terms of demand for the end-use products by 2027. The rapid development in the Asia-Pacific region is likely to attribute prospective industrial growth in emerging countries.
For the purpose of this report, Reports and Data have segmented into the global Graphene Nanoplatelets Market on the basis of Product, Form, Application, and region:
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- BENELUX
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
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Product Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- M-GNPs
- C-GNPs
- H-GNPs
- R-GNPs
Form Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Bulk Powder
- Dispersions
- leaf
- Others
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Energy Power
- Composites
- Conductive Inks Coatings
- Others
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