The Growth of the Graphene Oxide Market in Asia Pacific is Attributable to the Increased demand of Electric Vehicle Battery!

Global Graphene Oxide Market is expected to expand at a reasonable CAGR of around 30% during the forecast period. 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 2020 from 981.1 thousand tons in 2022. According to estimates, the worldwide graphene oxide market will generate USD billion. In the year 2,711.2 million increasing at a CAGR through 2033. 32% higher than expected 2023 through 2033, to be exact. Also, the market brought in USD in revenue. In the year, 131.4 million 2022. The expansion of the market can be credited with the growing need for the use of electric cars they contain batteries. Graphene enhances the EV battery life expectancy. Furthermore, they offer increased vigor, quicker and are far more expensive unlike lithium-ion, sustainable batteries. In 2020, the battery demand for the almost all-electric vehicle 109 terawatt hours. Furthermore, by 2030, roughly batteries for electric vehicles with a 3,500 GWh capacity worldwide demand will increase.

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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.

Asia Pacific Graphene Oxide Market Revenue (2020-2030) – USD Bn

Based on 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, and others. Energy sectors hold a lucrative market share which is due to government focuses on 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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Global Graphene Oxide Market Segmentation

Market Insight, by Type

• Powder-based
• Solution-based

Market Insights, by Application

• Medical
• Energy
• Electronic devices
• Others

Market Insight, by Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Rest of Europe
• APAC
  • China
  • India
  • Japan
  • Rest of APAC
• Rest of the 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.