Graphene Nanoplatelets Market Report

Graphene Nanoplatelets Market Analysis By Application (Composites, Energy & Power, Conductive Inks & Coatings), By Region (North America, Europe, Asia Pacific) And Segment Forecasts, 2014 - 2025

Published: September 2017  |  90 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-619-6

Industry Insights

The global graphene nanoplatelets market size was valued at USD 11.9 million in 2016 and is expected to witness prolific growth at a CAGR of 37.6% from 2017 to 2025. Graphene nanoplatelets are advanced nanoparticles based on carbon with a unique morphology. Multifunctional properties have encouraged their usage in a wide range of applications including composites, energy & power storage, conductive inks, coatings, and medical devices.

The market is yet to be completely commercialized. Several research & development activities have been performed in the past few years to commercialize the large-scale production. The emergence of cutting-edge technology for production and product purification is expected to generate significant opportunity in the market. Various government and non-government research institutes have entered into a partnership with commercial manufacturers for innovation and development studies.

U.S. graphene nanoplatelets market revenue, by application, 2014 - 2025 (USD Thousand)

U.S. graphene nanoplatelets market

Excellent mechanical strength and unique morphology of the product have encouraged their usage in the manufacturing of composites. The product is used in the fabrication of various types of composites owing to their stiffness, strength, and surface hardness. They are used as fillers in the matrices of various composites including thermoset and thermoplastics composites.

Graphene nanoplatelets-based composites are used in the exterior components of automotive, electrostatic paintings, inks & pastes, protection of electrostatic-sensitive devices (ESD), and electromagnetic interference (EMI) shielding. Furthermore, they are also used in silicone rubber GNP composites, epoxy GNP composites, and fluoroelastomer (FKM) GNP composites. These composites have improved conductivity and are suitable for high-temperature applications.

Surging demand for materials with high tensile strength, excellent hardness, and longevity has fueled the nanocomposites market in the recent past. Among various materials used in nanocomposites, graphene nanoplatelets have emerged as the most promising material owing to their superior mechanical strength and conductive properties. Excellent oxygen barrier properties have encouraged their usage in medical devices.

Large-scale production at a lower price is likely to place graphene nanoplatelets as a potential substitute for various carbon-based materials used in composite fabrication. As a result, significant growth in the nanocomposite market coupled with product availability at a commercially viable price is expected to bolster the market growth over the next few years.

Superior mechanical and functional properties as compared to conventional carbon-based materials have created lucrative opportunities in the graphene nanoplatelets market. As a result, various companies are focusing on extensive research & development programs to identify new applications of graphene nanoplatelets in association with various research organizations and universities. The Michigan State University (MSU) provided funding for research to XG Sciences Inc. In September 2013, Ukraine's National Academy of Sciences made an investment to conduct research on liquid-phased exfoliation of the product. In 2013, Grafen Chemical Industries launched a research project in collaboration with LUM GmbH, a Germany-based company

The market players are aiming to strengthen technology offerings by collaborating with research institutes. Ongoing collaboration projects are expected to commercialize production on a large scale, along with the expansion of application area. Findings obtained from research studies are likely to enable the manufacturers in expanding the product portfolio, which in turn is expected to drive the market growth over the forecast period.

Production on an industrial scale is obstructed by economic and technical challenges. The sourcing of high-quality graphite raw material, appropriate reaction media, and isolation of the purified product requires modification. Acquiring 100% yield from graphite requires particle friction separation method, which is an expensive process. Furthermore, the removal and treatment of wastewater, storage of product, and quality analysis steps are required to be improved significantly. Proprietary technology is one of the restraining factors operating in the market.

Graphene nanoplatelets are mainly produced by the exfoliation of graphite. Natural graphite flakes are exfoliated in a single step at room temperature. Expensive technologies used in the exfoliation and isolation steps incur high cost. However, the introduction of a low-cost production process is expected to remove the market barrier. Innovative and advanced technologies have been implemented in an attempt to improve the synthesis process, properties, and application of graphene nanoplatelets.

Application Insights

Composites was the largest application segment of the global market, accounting for 31.2% share of the market revenue in 2016. The product is widely used in the fabrication of composites. Excellent mechanical, thermal, and electrical properties have encouraged their usage in composites. Composites based on graphene nanoplatelets are witnessing significant demand in the automotive and construction industries. The growing demand for automotive with reduced weight and high fuel efficiency is predicted to bolster the product usage over the forecast period

Energy & power is anticipated to be the fastest-growing application segment over the forecast period. The product is used in batteries, electrodes, and super capacitors owing to their ability to enhance the durability of advanced power systems. The product usage leads to improved performance, increased durability, and increased battery capacity at a lower cost.

The product is used in the formulation of conductive inks & coatings and finds application in the electronics, printed electronics, and packaging industries. Advantageous electrical and thermal properties encourage their use in inks & coatings. Conductive inks formulated by using graphene nanoplatelets can be utilized for various curing and processing methods. The producers of printed electronics, smart labels, RFID tags, smart packaging, and heat sinks are anticipated to drive substantial demand in conductive inks & coatings over the next few years.

Global graphene nanoplatelets market, by application, 2015 (%)

Global graphene nanoplatelets market

Regional Insights

North America dominated the overall industry, accounting for 34.7% of global graphene nanoplatelets market revenue in 2016. Considerable demand for composites produced from graphene nanoplatelets in the automotive and aerospace industries have propelled the demand in North America. The presence of numerous aircraft manufacturers in this region has boosted the demand for lightweight composite materials. This in turn, has boosted the product demand in composite fabrication owing to their material strength, mechanical properties, and performance efficiency.

Europe held the third-largest share of the global industry revenue in 2016. Developed countries in Europe such as the UK, Germany, Spain, France, and Italy have driven the demand in the region. Increased environmental sustainability has boosted the demand for electric and hybrid vehicles in Europe, which in turn has fueled the product demand over the past few years.

Asia Pacific market is expected to witness remarkable growth over the forecast period. In terms of revenue, the region is expected to surpass North America market in the next few years. Countries such as Japan, China, and India have exhibited rising demand for advanced materials in the automotive, aerospace, energy storage, consumer electronics, and printed electronics sectors.

Favorable policies to support research & development programs on graphene nanoplatelets is anticipated to create lucrative opportunities in the Asia Pacific market. The Made-in-China 2025, an initiative undertaken by the Chinese state council is anticipated to support advanced manufacturing. This, in turn, is projected to fuel the use of graphene nanoplatelets in several applications.

Competitive Insights

The global industry is fragmented in nature with key players such as CVD Equipment Corporation; Angstron Materials Inc; XG Sciences, Inc.; ACS Materials LLC; and Group NanoXplore Inc. The companies are involved in the supply and distribution services to small and medium businesses, which intensify the competition.

Various companies are engaged in research & development activities to improve the quality of product and widen application. The companies in the domain are involved in the expansion of product portfolio and geographical reach through product innovation and mergers and acquisitions.

Report Scope

Attributes

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2015

Forecast period

2017 - 2025

Market representation

Volume in Kilograms, Revenue in USD Thousand & CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, and RoW

Country scope

U.S., UK, Spain, China, and India

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

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Segments covered in the report:

This report forecasts volume and revenue growth at global, regional & country levels, and provides an analysis on the industry trends in each of the sub-segment from 2014 to 2025. Grand View Research has segmented the graphene nanoplatelets market by application and region.

  • Application Estimates & Trend Analysis (Volume, Kilograms; Revenue, USD Thousand; 2014 - 2025)

    • Composites

    • Energy & Power

    • Conductive Inks & Coatings

    • Others

  • Regional Estimates & Trend Analysis (Volume, Kilograms; Revenue, USD Thousand; 2014 - 2025)

    • North America

      • U.S.

    • Europe

      • UK

      • Spain

    • Asia Pacific

      • China

      • India

    • Rest of the World

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