According to a research report titled ‘Global Graphene Composites Market Size study, by Type (Polymer-based, Metal-based, Ceramic-based, and Others), by Application (Sports & Wearable Goods, Aerospace & Defense, Automotive, Building & Construction, Energy Storage & Generation, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global graphene composites market was valued at USD 13.1 million in 2019 and is anticipated to record at a hefty CAGR of 38% during 2020-2027, subsequently amassing USD 172 million by the end of the forecast period.
 

As per the findings of the research report, increase in research and development activities, escalating demand for lightweight materials in industrial applications, and rising adoption of graphene as a component in sports & wearable devices as well as electric vehicles are supporting worldwide graphene composites market growth.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3611183/
 

Moreover, graphene composites are considered to be a cost effective as well as efficient choice in the manufacturing of chemical sensors, antibacterial material, and transparent conductive films, which further enhances the remuneration scope of the industry.
 

For those uninitiated, graphene composites are materials manufactured by combining two or more materials, including graphene, which delivers excellent attributes in various end-use applications. Recent technological developments in lightweight and environmentally sustainable materials have enabled manufacturers to utilize graphene composites.
 

Despite the lucrative prospects, high cost of graphene composites is one of the primary factors deterring market growth.
 

Based on application ambit, global graphene composites market is classified into sports & wearable goods, automotive, aerospace & defense, energy storage & generation, building & construction, and others. Among these, wearable sensing technology is emerging as one of the major applications in the industry sphere due to its exceptional properties such as ultra-high carrier mobility, lightweight, robust mechanical flexibility, and better environment stability.
 

On the regional front, Europe accounted for a significant portion of global graphene composites market share in the recent past. Strong presence of suppliers in the region, along with rising government initiatives aimed at increasing the adoption of graphene composites are favoring the regional business landscape.
 

Meanwhile, Asia-Pacific market is projected to record a robust compound annual growth rate during the study timeframe. Factors such as favorable government initiatives in countries such as China and India, and increased demand from automotive and aerospace sectors are likely to drive regional market growth in the ensuing years.
 

Major players in the global graphene composites market space are G6 Materials Corp., AD-Nano Technologies Pvt. Ltd., Graphene One LLC, Graphmatech AB, Haydale Graphene Industries plc, XG Sciences, Inc., Gnanomat SL, NanoXplore Inc., and Graphenano Group.