Graphene Oxide Market Research Report Information By Product (Graphene Nanoplatelets, Graphene Oxide, Reduced Graphene Oxide, Monolayer Graphene, Bulk Graphene, and Others), By Application (Paints & Coatings, Electronic Components, Composites, Batteries, Solar Panels, and Others), By End Use (Automotive, Medical, Aerospace, Defense, Concrete Industry, Tires, and Others), And By Region (North America, Europe, Asia-Pacific, And Rest of The World) –Market Forecast Till 2032.

Global Graphene Oxide Market Overview

Graphene Oxide Market Size was valued at USD 0.18 Billion in 2022. The Graphene Oxide industry is projected to grow from USD 0.24 Billion in 2023 to USD 2.29 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 32.50% during the forecast period (2023 - 2032). Increasing integration of graphene in flexible electronics, transparent conductive films, and high-performance devices, and Supportive government initiatives and funding for graphene research foster technological advancements and market expansion are expected to be significant market drivers for the Graphene Oxide Market.Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Graphene Oxide Market Trends

• 
  

  Increasing demand for electric vehicles (EVs) and their associated batteries and the increasing demand for electronic goods are driving the market growth

  
  

Market CAGR for Graphene Oxide is driven by the increasing demand for electric vehicles (EVs) and their associated batteries and the increasing demand for electronic goods. Graphene plays a crucial role in enhancing the lifespan of EV batteries, offering higher energy density, faster charging capabilities, and greater sustainability compared to lithium-ion batteries. In 2020, the demand for electric vehicle batteries reached nearly 110 gigawatt-hours, and it is projected that approximately 3,500 GWh of EV batteries will be required globally by 2030. Furthermore, it is anticipated that the demand will surge significantly, reaching around 6,500 gigawatt hours by the end of 2050.

The electronics and telecommunications sector stands as the largest end-user industry for graphene and its derivatives, employing graphene in various applications such as unbreakable touchscreens, transistors, enhanced lithium-ion batteries, optical electronics, printed electronics, and conductive inks. India is poised to become the world's fifth-largest consumer electronics and appliances industry, with a projected digital economy of USD 1 trillion in the coming years. The Indian electronics system design and manufacturing (ESDM) sector is expected to generate over USD 100 billion in economic value. Government initiatives like Make in India, National Policy of Electronics, Net Zero Imports in Electronics, and Zero Defect Zero Effect are contributing to the rapid growth of electrical and electronics production in India. In Europe, the German electronics industry holds the largest position in the region. According to Zentralverband Elektrotechnik- und Elektronikindustrie eV (ZVEI), the turnover of the German electro and digital industry reached EUR 224.5 billion (USD 236.58 billion) in 2022, reflecting a growth of 12% compared to 2021.

As a result, it is anticipated that throughout the projection period, demand for the Graphene Oxide Market will increase due to the increasing demand for electric vehicles (EVs) and their associated batteries and the increasing demand for electronic goods. Thus, driving the Graphene Oxide Market revenue.

Graphene Oxide Market Segment Insights

Graphene Oxide Market Product Insights

The Graphene Oxide Market segmentation, based on Product includes Graphene Nanoplatelets, Graphene Oxide, Reduced Graphene Oxide, Monolayer Graphene, Bulk Graphene, and Others. The Graphene Oxide segment dominated the market, accounting for 58% of market revenue (0.10 Billion). The fluorescence of graphene oxide enhances its suitability for bio-sensing, disease detection, antibacterial materials, and drug carriers. The incorporation of graphene oxide extends to the fabrication of electronic devices, including graphene-based field effect transistors (GFET). The growing utilization of graphene oxide across various industries is poised to drive substantial demand in the market.

Figure 1: Graphene Oxide Market, by Product, 2022 & 2032 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Graphene Oxide Market Application Insights

The Graphene Oxide Market segmentation, based on Application includes Paints & Coatings, Electronic Components, Composites, Batteries, Solar Panels, and Others. The Composites segment dominated the market, accounting for 58% of market revenue. Graphene, when incorporated into composites, elevates mechanical strength, conductivity, and thermal properties. The aerospace industry is progressively embracing graphene composites to achieve lightweight yet robust materials, thereby enhancing fuel efficiency. Similarly, the automotive and construction sectors leverage graphene composites to fabricate durable and high-performance components, aligning with the broader trend of advancing materials with superior properties.

Graphene Oxide Market End-Use Insights

The Graphene Oxide Market segmentation, based on End Use includes Automotive, Medical, Aerospace, Defense, Concrete Industry, Tires, and Others. The Automotive segment dominated the market, accounting for 60% of market revenue. Graphene finds diverse applications in the automotive industry, including but not limited to composite structural components, automotive batteries, tires, and anti-lock braking systems. The heightened demand stemming from these applications is anticipated to propel the graphene market during the forecasted period.

Graphene Oxide Market Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The anticipated expansion of the Graphene Oxide market in North America can be attributed to several key factors. The North American graphene market is experiencing substantial growth, propelled by significant investments in research and development, notably within the United States. The region's advanced technological infrastructure and emphasis on innovation contribute to the widespread adoption of graphene across various industries. Collaborative efforts involving academic institutions, research organizations, and industry stakeholders further accelerate the development and commercialization of graphene-based products, shaping a dynamic market landscape. In 2021, the manufacturing sector accounted for 11 percent of the U.S. GDP, establishing itself as the eighth-largest economy globally with a value-added of $2.64 trillion. Notably, the manufacture of motor vehicles and parts constitutes 6 percent of the manufacturing total and 11 percent of the durable goods subsector. Within the automotive industry, which continues to prioritize lightweight and innovative materials, graphene emerges as a pivotal factor driving advancements. Its integration plays a crucial role in making vehicles more efficient, sustainable, and technologically advanced.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: GRAPHENE OXIDE MARKET SHARE BY REGION 2022 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's Graphene Oxide Market accounts for the second-largest market share as the growth of the electronics sector in emerging economies and the widespread adoption of graphene in composite applications are poised to drive the industry forward. Graphene finds application in a diverse range of products within this sector, including printed electronics, enhanced lithium-ion batteries, durable touchscreens, conductive inks, transistors, and optical electronics. Notably, graphene exhibits advantageous characteristics such as improved thermal conductivity, electron mobility, and mechanical strength. Moreover, graphene holds the potential to revolutionize the smartphone industry by replacing existing touchscreen technology with a more agile and cost-effective alternative. Commercial applications span across various devices, including organic light-emitting diodes (OLEDs), liquid crystal displays (LCDs), and touchscreens for desktop computers, tablets, smartphones, and televisions. The electrical and digital industry in Germany, for instance, achieved revenues of USD 231.89 billion in 2021, reflecting a 9.7% increase from the previous year. Production within the electro and digital industries grew by 3.4% between December 2020 and December 2021, with industrial production values rising by 8.8% compared to 2020. The escalating consumer demand for electronics, touchscreen devices, and technology positions itself as a key driver for the anticipated expansion of the graphene market. Further, the German Graphene Oxide Market held the largest market share, and the UK Graphene Oxide Market was the fastest-growing market in the European region

The Asia-Pacific Graphene Oxide Market is expected to grow at the fastest CAGR from 2023 to 2032. Graphene plays a pivotal role in the creation of aircraft and helicopter structures, making them lighter and more impact-resistant. The application extends to manufacturing deicing systems on wings, utilizing graphene's thermal/electrical conductivity, mechanical resistance, and easy functionalization. In defense, graphene finds use in diverse applications, including optoelectronic devices, flexible systems, ballistic protection materials, lightweight armor, military helmets, camouflage, and signature management. China, a major player in both aircraft manufacturing and domestic air travel markets, has witnessed growth in its aircraft parts and assembly manufacturing sector, boasting over 200 small aircraft parts manufacturers. Despite facing a decline in previous years, the Chinese aerospace industry is steadily recovering, with the Civil Aviation Administration of China (CAAC) estimating domestic traffic to reach around 85% of pre-pandemic levels. Furthermore, Chinese airline companies have ambitious plans to acquire approximately 7,690 new aircraft in the next two decades, valued at approximately USD 1.2 trillion. This substantial investment is expected to drive demand in the graphene market. According to the Stockholm International Peace Research Institute (SIPRI), China ranked as the world's second-largest military spender, allocated an estimated USD 292 billion to its military in the previous year, reflecting a 4.2% increase compared to the preceding year. China has consistently increased its military expenditure for 28 consecutive years. Moreover, China’s Graphene Oxide Market held the largest market share, and the Indian Graphene Oxide Market was the fastest-growing market in the Asia-Pacific region.

Graphene Oxide Market Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the Graphene Oxide market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Graphene Oxide industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Graphene Oxide industry to benefit clients and increase the market sector. In recent years, the Graphene Oxide industry has offered some of the most significant advantages to the materials science and technology sectors. Major players in the Graphene Oxide Market, including Applied Graphene Materials, 2D Carbon Graphene Material Co., Ltd., Thomas Swan & Co. Ltd., Graphene Laboratories, Inc., Graphensic AB, GRAPHENE SQUARE INC, AMO GmbH, Talga Group, ACS Material, BGT Materials Limited, Ltd., CVD Equipment Corporation, Directa Plus S.p.A., Grafoid Inc, Graphenea, NanoXplore Inc., HAYDALE GRAPHENE INDUSTRIES PLC, and Zentek Ltd are attempting to increase market demand by investing in research and development operations.

Founded in 2010, Graphenea is a leading technology company specializing in the production of graphene. With a team of 25 employees, Graphenea is dedicated to advancing the development of graphene applications for customers across various sectors in over 60 countries worldwide. Through a focus on research and innovation, the company provides a comprehensive portfolio that includes CVD Graphene films, Graphene Field-Effect-Transistors chips (GFETs), Graphene Foundry Services (GFAB), and Graphene Oxides. Graphenea operates from facilities in Spain (San Sebastián) and the USA (Boston). As a key partner of the Graphene Flagship, which boasts a budget of €1 billion, Graphenea contributes to a large-scale, coordinated research initiative representing Europe's most extensive research effort. In 2020, Graphenea SA expanded its GEFT sensing product line, introducing two new graphene-based sensors, S11 and S12. This product launch underscores Graphenea's commitment to innovation and the continual improvement of its graphene-based sensor offerings, playing a significant role in the company's growth within this market segment.

Established in 2011, NanoXplore is headquartered in Montréal, Quebec, where the company operates a 4,000-metric-tons-per-year graphene powder production facility featuring a modular structure. The Research and Product Development team, equipped with a fully operational material characterization and test laboratory, possesses specialized expertise in formulating graphene-based solutions to enhance the performance of industrial materials in both thermoplastics and thermosets. The graphene powder production facility is complemented by extrusion capabilities to create graphene-enhanced masterbatches in polyolefins and engineered polymers. NanoXplore Inc. is actively involved in the manufacturing and distribution of graphene powder for various industrial markets. The company provides customized and standard graphene-enhanced plastics and composites for targeted industries, including transportation & automotive, energy storage & batteries, tires & rubbers, paints & coatings, electronic enclosures, and consumer packaging.

Key companies in the Graphene Oxide Market include

• 
  

  Applied Graphene Materials

  
  


• 
  

  2D Carbon Graphene Material Co., Ltd.

  
  


• 
  

  Thomas Swan & Co. Ltd.

  
  


• 
  

  Graphene Laboratories, Inc.

  
  


• 
  

  Graphensic AB

  
  


• 
  

  GRAPHENE SQUARE INC

  
  


• 
  

  AMO GmbH

  
  


• 
  

  Talga Group

  
  


• 
  

  ACS Material

  
  


• 
  

  BGT Materials Limited, Ltd.

  
  


• 
  

  CVD Equipment Corporation

  
  


• 
  

  Directa Plus S.p.A.

  
  


• 
  

  Grafoid Inc

  
  


• 
  

  Graphenea

  
  


• 
  

  NanoXplore Inc.

  
  


• 
  

  HAYDALE GRAPHENE INDUSTRIES PLC

  
  


• 
  

  Zentek Ltd.

  
  

Graphene Oxide Industry Developments

July 2022: In July 2022, Thomas Swan entered into a partnership with Concrene Ltd., intending to incorporate graphene nanoplatelets into various concrete dispersion processes managed by Concrene Ltd., ultimately producing high-compressive strength concrete. The agreement aimed to broaden the range of applications for Thomas Swan's products on a scale.

May 2022: In May 2022, Imkemex, headquartered in Mumbai, India, and Applied Graphene Materials established an exclusive distribution agreement. Through this new collaboration, AGM seeks to directly expand its commercial presence in the liquid resins, coatings, composites, and polymers industries within the region.

Graphene Oxide Market Segmentation

Graphene Oxide Market Product Outlook

• 
  

  Graphene Nanoplatelets

  
  


• 
  

  Graphene Oxide

  
  


• 
  

  Reduced Graphene Oxide

  
  


• 
  

  Monolayer Graphene

  
  


• 
  

  Bulk Graphene

  
  


• 
  

  Others

  
  

Graphene Oxide Market Application Outlook

• 
  

  Paints & Coatings

  
  


• 
  

  Electronic Components

  
  


• 
  

  Composites

  
  


• 
  

  Batteries

  
  


• 
  

  Solar Panels

  
  


• 
  

  Others

  
  

Graphene Oxide Market End-Use Outlook

• 
  

  Automotive

  
  


• 
  

  Medical

  
  


• 
  

  Aerospace

  
  


• 
  

  Defense

  
  


• 
  

  Concrete Industry

  
  


• 
  

  Tires

  
  


• 
  

  Others

  
  

Graphene Oxide Market Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  

• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • Italy
  
  
  • Spain
  
  
  • UK
  
  
  • Rest of Europe
  
  
  
  

• Asia-Pacific
  
  
  
  • Japan
  
  
  • China
  
  
  • India
  
  
  • Australia and New Zealand
  
  
  • Rest of Asia-Pacific
  
  
  
  

• Rest of the World (RoW)
  
  
  
  • South America
  
  
  • Middle East
  
  
  • Africa