Graphene Oxide Market: Current Analysis and Forecast (2023-2030)

Increasing demand of graphene owing to increasing demand of high-performance materials from a large base of industries like automotive, energy, medical, electronic devices, and transportation is propelling the demand of graphene oxide. For instance,In June 2021, Europe-based Graphene Flagship consortium is working on a project G+BOARD which is dedicated to developing a graphene-based, metal-free automotive instrument board and steering wheel that enhance performance, reduce manufacturing costs, and decrease fuel costs for customers. The planned dashboard, dubbed G+BOARD, will have conductive circuits, sensors, and physical devices made from graphene or reduced graphene oxide, replacing the copper-based wires and metal controls currently utilized in automotive dashboards. In addition, automotive sector is increasingly utilizing graphene oxide to reduce the overall weight of vehicle resulting in more efficiency and helps in reducing carbon emission. Furthermore, 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. Owing to such factors, the market of graphene oxide is likely to showcase significant growth during the foreseeable future.

Based on type, the graphene oxide 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, the graphene oxide market is divided into medical, energy, electronic devices and Others. 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 owing to this energy and electronics devices held a significant share of graphene oxide market. Furthermore, governments focuses on green energy is propelling the demand for renewable power sources. Graphene oxide is extensively used in the production of transparent conducting film (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.

For a better understanding of the market adoption of Graphene Oxide, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy and Rest of Europe), Asia-Pacific (China, India, Japan, Rest of APAC), and Rest of World. Asia Pacific held a prominent market share due to rising energy storage batteries market and medical equipment market. The primary drivers of the market's growth in the region are the alarming lack of clean water in various nations in the Asia Pacific region and the rising demand for wastewater treatment. India is one of the nations with the greatest water stress because it has 18% of the world's population but just 4% of the water resources. India currently has a capacity for treating around 27% of its water, and it currently has a capability for managing about 19% of its sewage, with an extra 5% of capacity. Additionally, India has a capacity for waste and sewage water treatment that is 20% higher than the average capacity for other nations. Moreover, the area's expanded efforts to boost graphene production in Asia Pacific.

Some of the major players operating in the market include: ACS Material LLC, Allightec Co. Ltd., BGT Materials Ltd., Cheap Tubes Inc, E Way Technology Co. Ltd., Garmor Inc., Graphenea Inc., Nanoinnova Technologies Sl, United Nanotech Innovations Pvt Ltd., Angstron Materials Inc