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graphene oxide market

Surging demand of electric vehicle battery to boost graphene oxide market. Asia Pacific to lead the growth!

Global graphene oxide market is expected to expand at a reasonable CAGR of around 32% during the forecast period (2021-2027). Shifting trend towards clean energy is driving the demand of graphene oxide as it is helping the governments to make carbon neutral country. Globally, energy utility and automotive & transportation industries is adopting graphene oxide which is used in manufacturing of solar cells and as electrodes of lithium-ion batteries. Owing to such factors, the demand of graphene oxide is increasing which is produced from the oxidation of graphite. Therefore, with the increasing production of graphite, supply of graphene oxide would also propel. For instance, the production of natural graphite, a key raw material to produce graphene, has increased to 1,128.2 thousand tons in 2019 from 981.1 thousand tons in 2010. However, in the light of COVID-19. the production had decreased to 909.7 thousand tons in 2020.

Graphene oxide has shown great potential for the development of next-generation biosensors due to their excellent electrical and thermal conductivity, high surface area, two-dimensional structure, and durability. Furthermore, in biosensors graphene oxide can be applied as a thin film to various sensor surfaces to not only capture biomolecules but also to support cell growth suitable for live-cell biosensing.

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  • On basis of type, market is categorized into powder-based graphene oxide and solution-based graphene oxide. Powder-based graphene oxide can be dispersed easily in a variety of solvents, making it highly popular among those in need of ultra-strong coatings for their equipment. Applications for single-layer graphene oxide powder include chemical and bio sensors, supercapacitors, solar cells, and more.
  • Based on application, graphene oxide market is divided into medical, energy, electronic devices, composite materials, catalytic oxidation, and others. Energy sector hold a lucrative market share which is due to government focuses towards clean energy and graphene oxide has vast applications pertaining to energy sector. Graphene oxide films can be deposited on essentially any substrate, and later converted into a conductor. This is why graphene oxide is especially fit for use in the production of transparent conductive films (TCF), like the ones used for flexible electronics, solar cells, chemical sensors. Governments focuses on green energy is propelling the demand for renewable power sources. Graphene oxide is extensively used in the production of TCF which is further used in manufacture of solar cells. Therefore, increase in demand of solar panels would result in increased TCF production which requires graphene oxide thereby fueling its demand.

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For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, Spain, France, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. Currently, Asia Pacific holds lucrative market share and is expected to maintain its dominance throughout the forecast period. In 2020, China accounted for the largest production of natural graphite which is among the key raw material in the production of graphene oxide which is a derivative of graphene. Further, the country held significant share in automotive, medical, electronics, and renewable energy sectors. In automotive sector, the demand of graphene oxide is increasing owing to rising use of lithium ion batteries in electric vehicles.

Global Graphene Oxide Market Segmentation

Market Insight, by Type

  • Powder-based
  • Solution-based

Market Insight, by Application

  • Medical
  • Energy
  • Electronic devices
  • Composites materials
  • Catalytic oxidation
  • Others

Market Insight, by Region

  • North America
  • Europe
  • Asia Pacific
  • Rest of World

Top Company Profiles

  • ACS Material, LLC
  • Allightec Co., Ltd
  • BGT Materials Limited
  • Cheap Tubes Inc
  • E Way Technology Co. Ltd.
  • Garmor Inc.
  • Graphenea Inc.,
  • Nanoinnova Technologies Sl
  • United Nanotech Innovations Pvt Ltd
  • Angstron Materials Inc.

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