The global graphene oxide market was valued at USD 2.9 billion in 2023, growing at a CAGR of 31.2% from 2024 to 2033. The market is expected to reach USD 43.8 billion by 2033. The market's revenue growth will be fueled by expanding customer demand for consumer electronics like tablets and mobile phones due to increased disposable income.
Graphite is strongly oxidised to create graphene oxide (G.O.), a single-atomic layered substance composed of carbon atoms joined in a hexagonal arrangement. Because graphene is so thin, it is perceived as being in two dimensions. Due to its honeycomb pattern, graphene is a highly exceptional substance. Its outstanding qualities are its grounding ability, low weight, transparency, and general conductiveness. Efforts are made to identify efficient yet affordable ways to generate and use graphene by-products or related materials because graphene is costly and difficult to produce. Graphene oxide is graphene that has been oxidised and mixed with oxygen groups. Due to its water-soluble nature, it is considered simple to process (and other solvents). Graphene oxide is widely available as a powder, dispersion, or substrate coating; nonetheless, it is not a good conductor. Moreover, graphene oxide is utilised in touch screens and batteries to substitute tin oxide. Due to its large surface area, it is also utilised as an electrode material in capacitors, solar cells, and batteries.
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In March 2023, Universal Matter UK Limited, a wholly-owned subsidiary of Universal Matter Inc., acquired the main operating subsidiaries of Applied Graphene Materials PLC, Applied Graphene Materials U.K. Limited, and Applied Graphene Materials LLC. The acquisition improved the company's position in the market.
In February 2023, The Global Graphene Group stated that Nubia Brand International Corp. and Honeycomb Battery Company, a subsidiary of Global Graphene Group, Inc. focused on advanced battery technology, have entered into a business combination agreement to develop battery materials. The Global Graphene Group is anticipated to supply Honeycomb Battery Company with graphene.
Unique properties- High mechanical strength, flexibility, transparency, and thermal and electrical conductivity are just a few of graphene's remarkable qualities. These qualities make graphene appealing for various applications, driving the demand for graphene-based goods.
High cost of production- The difficulties of producing graphene oxide on a large scale and the need for specialised tools and methods are the primary causes of the high cost of graphene production. The cost must be lowered for graphene to be more commercially feasible across various sectors and applications.
Applications in electronic and optoelectronics- Graphene oxide allows for faster, more efficient, and more flexible electrical devices, and it has the potential to completely transform the electronics industry. Transistors, touchscreens, flexible displays, photodetectors, and solar cells can all be used with graphene. The graphene industry is driven by the need for high-performance electronic components and new technologies, including wearables, 5G, and the Internet of Things (IoT).
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the largest global graphene oxide market, with a 38.6% market revenue share in 2023.
Because graphene oxide is used for several purposes by numerous end-user industries, such as automotive, healthcare, and others, the U.S. leads the market in this region. The United States was the world's second-largest automobile manufacturing and sales market, according to the International Trade Administration (ITA). The United States is one of the world's largest automotive markets, with 17.2 million light vehicle sales in 2018.
North America Region Rainwear Market Share in 2022 - 39%
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The type segment is divided into solution-based graphene oxide and powder-based graphene oxide. The solution-based graphene oxide segment dominated the market, with a market share of around 58% in 2023. The growing usage of nanotechnology in the electronics manufacturing sectors is anticipated to propel the solution segment to have the highest revenue share throughout the forecast period. It can be purchased in powder or solution form for surface coating, and it dissolves in water and other liquids.
The application segment is divided into the aerospace industry, composite materials, medical, electronic devices, catalytic oxidation, and others. The aerospace industry segment dominated the market, with a market share of around 25% in 2023. The product is revolutionising the aerospace industry by enhancing the performance of coatings and composites used to manufacture helicopters, aeroplanes, spacecraft, and drones. Throughout an aeroplane's life, it helps to improve mechanical properties, make it lighter and smaller, increase fuel efficiency, and reduce emissions.
Report Description:
Attribute | Description |
---|---|
Market Size | Revenue (USD Billion) |
Market size value in 2023 | USD 2.9 Billion |
Market size value in 2033 | USD 43.8 Billion |
CAGR (2024 to 2033) | 31.2% |
Historical data | 2020-2022 |
Base Year | 2023 |
Forecast | 2024-2033 |
Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
Segments | Type, Application |
As per The Brainy Insights, the size of the graphene oxide market was valued at USD 2.9 billion in 2023 to USD 43.8 billion by 2033.
The global graphene oxide market is growing at a CAGR of 31.2% during the forecast period 2024-2033.
North America emerged as the largest graphene oxide market.
This study forecasts global, regional, and country revenue from 2020 to 2033. The Brainy Insights has segmented the global graphene oxide market based on the below-mentioned segments:
Global Graphene Oxide Market By Type:
Global Graphene Oxide Market By Application:
Global Graphene Oxide Market By Region:
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