Graphene Oxide Market Size, Share, Growth, Global Industry Analysis, By Type (Graphene oxide Solution and Graphene Oxide powder) By Application (Transparent Conductive Films, Composites, Energy-Related Materials, Biology and Medicine, and Others), Regional Insights, and Forecast From 2024 To 2032

Updated On: 08 July 2024

GRAPHENE OXIDE MARKET REPORT OVERVIEW

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The global graphene oxide market size was USD 13 million in 2023 and is expected to touch USD 559.55 million in 2032, exhibiting a CAGR of 46% during the forecast period. In the market study, our analysts have considered graphene oxide players such as Global Graphene Group, Graphenea, Abalonyx AS, Garmor, ACS Material, Cheap Tubes, The Sixth Element Materials, BGT Materials Limited (BGT), Allightec, E WAY Technology, Jining LeaderNano Tech and Nanoinnova. 

The intense oxidation of graphite produces graphene oxide (GO), a single-atomic layered substance. Graphene is a carbon-based substance made up of carbon atoms linked together in a hexagonal arrangement. Graphene is such a thin material that it appears to be two-dimensional. The hexagonal honeycomb design of graphene provides it a number of unique properties, including being the most grounded material on the planet and one of the lightest, most conductive, most transparent. Due to the high cost and difficulty of producing graphene, efforts are being undertaken to identify effective yet low-cost techniques to generate and use graphene by-products or related materials.

Graphene oxide is a graphene that has been oxidized and laced with oxygen-containing groups. Because it disperses in water, it is considered simple to digest (and other solvents). Graphene oxide is frequently sold in powder, scattered, or as a coating on substrates because it is a poor conductor. In touch screens and batteries, graphene oxide is utilized as a tin-oxide substitute. Because of its large surface area, it's also utilized as an electrode in batteries, solar cells, and capacitors. One of the primary drivers expected to fuel market expansion in the future years is the expanding application of graphene oxide in a varied range of end-use industries, including automotive & transportation, electronics, aerospace & defense, construction, textile, and healthcare.

COVID-19 Impact: Robust Demand for 3D Printing to Bolster Market Progress

The global COVID-19 pandemic has been unprecedented and staggering, with graphene oxide experiencing lower-than-anticipated/higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the graphene oxide market growth and demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 epidemic has had an impact on a variety of businesses around the world. This is no different in the graphene market. To slow the spread of COVID-19, governments around the world implemented harsh restrictions such as border locks, lockdowns, and tight social distancing measures. These measures had a significant impact on the global economy, affecting a variety of industries. Furthermore, because to its antibacterial and antiviral properties, graphene has piqued the interest of the medical community to investigate its potential applications in the prevention, detection, and treatment of COVID-19. Furthermore, graphene-enhanced polymers, such as nonwoven textiles modified with graphene components, have been used to manufacture prophylactic or protective face masks, which is expected to generate multiple prospects for market expansion.

LATEST TRENDS

"Increasing Demand from Various Applications to Facilitate Industry Growth"

A form of graphene is graphene oxide. The need for graphene oxide is inextricably linked to the production of graphene. The growing desire for renewable, lightweight, flexible, and long-lasting materials has fueled the growth of graphene, which has driven the graphene oxide market all over the world. One of the factors propelling the use of graphene oxide in many applications is the growing demand for flexible and recyclable materials, as well as the ongoing movement toward sustainable power sources. The growing need for nanotechnology in the electronic products industry is propelling the graphene oxide market forward.

GRAPHENE OXIDE MARKET SEGMENTATION

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• By Type Analysis

As per type, the market is classified into Graphene oxide Solution and Graphene Oxide powder.

• By Application Analysis

Based on application, the market is categorized into Transparent Conductive Films, Composites, Energy-Related Materials, Biology and Medicine, and Others.

The composites segment is expected to lead because of the wide range of applications in semiconductors, transistors, capacitors, and sensors, the electronics application leads the worldwide graphene market volume share and is predicted to increase significantly during the projection period. As the population grows, so does the use of electronic devices. Because of its wide range of uses, grapheme oxide is a vital product, including transparent conductive sheets for various supercapacitors, cellphones, and flexible electronic devices are expected to fuel market growth.

DRIVING FACTORS

"Growing R&D Activities to Foster Industry Progress"

Graphene has been dubbed a "wonder substance" by scientists because of its unique features. A vast number of colleges, research institutes, and businesses are concentrating on graphene materials research and development in order to commercialize graphene and develop cost-effective production techniques. For new uses, continuous research and development is underway to make graphene more efficient and flexible.

ZEN Graphene Solutions has announced a worldwide collaboration with Graphene Composites, based in the United Kingdom, to combat COVID-19 by developing a potentially virucidal graphene-based composite ink that can be applied to textures such as N95 face veils and other personal protective equipment (PPE) for fundamentally increased protection. After the turn of events, testing, and confirmation of the graphene ink's virucidal potential have been completed, the ink will be fused into PPE fabrics.

"Increasing Demand from Automotive Sector to Facilitate Market Development"

In terms of volume, the automotive and transportation industry is the graphene market's largest application industry. Graphene can be employed in a variety of automotive applications, including composite structural components, vehicle batteries, tires, and anti-braking systems, to name a few. The graphene market is likely to be driven by rising demand from these applications throughout the forecasted period. The aerospace sector has a high need for graphene since it helps to improve the overall functionality of composites and coatings used in spacecraft, planes, helicopters, and drone manufacture. This important role of increasing the aerial vehicle's overall mechanical qualities aids in weight reduction. In addition, rising demand for graphene oxide from the automotive industry and other applications such as composites, coatings, energy, conductive inks, medical devices, and others would drive the total market in coming years.

RESTRAINING FACTORS

"Lack of Standardization to Hinder Market Progress "

The graphene sector is still in its early stages of growth, with few laws and standards in place. Several companies are creating various forms of graphene materials, which has resulted in a great deal of industry diversification and confusion. As a result of this issue, there is now phone graphene on the market, which is difficult to spot at the product stage. Therefore, several incidents of low-quality graphene from vendors have arisen, eroding end-user confidence.

GRAPHENE OXIDE MARKET REGIONAL INSIGHTS

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"Developed Healthcare Facilities to Propel Market Progress in North America"

Asia Pacific is projected to dominate the graphene oxide market. A number of graphene manufacturers in China, Japan, South Korea, India, and Australia are contributing to the regional market's growth. For the development of graphene products, these companies are focusing on R&D operations in conjunction with various research organizations and universities. APAC is home to the most manufacturers of automobiles, electric batteries, and electronic components, which are the primary applications for graphene. The graphene market in APAC is driven by the presence of significant end-use industries.

Asia-Pacific is expected to hold the second-largest market shareholder because distributors and suppliers are responsible for maintaining a loyal client base for their manufacturers, these manufacturers have a large distribution and supplier network, which plays an important part in the value chain. Companies in Europe are rapidly providing a variety of cost-effective methods to enable large-scale, comprehensive graphene manufacturing. Furthermore, rising government and industry investments are expected to boost demand for graphene-based products, resulting in market expansion.

KEY INDUSTRY PLAYERS

"Incorporation of Research and Development Strategies to Improve their Brand Image"

The global market is extremely concentrated, with developed regions such as North America and Europe being the most consolidated. In China, there are a significant number of suppliers and manufacturers. Several multinational firms and research institutes are increasing their R&D activities, which is expected to enhance market growth. Research institutes are a company's core consumer base. However, due to increased product demand from the electronic, automotive, aerospace, and other application industries, these firms' industrial sales are likely to expand during the next few years.

INDUSTRY DEVELOPMENT

NanoXplore Inc. announced a multi-year supply and distribution deal with Gerdau Grafeno LTDA on June 20, 2021. The strategic partnership between Gerdau Graphene and NanoXplore will make graphene more accessible at an industrial scale.

List of Market Players Profiled

• Global Graphene Group
• Graphenea
• Abalonyx AS
• Garmor
• ACS Material
• Cheap Tubes
• The Sixth Element Materials
• BGT Materials Limited (BGT
• Allightec
• E WAY Technology
• Jining LeaderNano Tech
• Nanoinnova

REPORT COVERAGE

The research begins with a summary of the global market for 3D printing. The executive summary contains key facts and figures about the global market for healthcare 3D printing. The next section of the research focuses on macroeconomic, demand, and supply drivers, restrictions, and major trends. The study includes an impact analysis of weighted average model-based growth drivers to provide clients with superior decision-making insights.