Graphene Oxide Market Expected to Reach USD 2.29 Billion by 2032 | Growing at a CAGR of 32.50%

Market Research Future (MRFR) has published a cooked research report on the “Graphene Oxide Market” that contains information from 2018 to 2032. The Graphene Oxide Market is estimated to register a CAGR of 32.50% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Graphene Oxide Market— 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.

Market Highlights

The global Graphene Oxide Market is accounted to register a CAGR of 32.50% during the forecast period and is estimated to reach USD 2.29 billion by 2032.

The global demand for the graphene oxide market is witnessing an upward trajectory, propelled by increased adoption in various manufacturing sectors. Notably, industries such as energy and electronics are incorporating graphene oxide in lithium-ion batteries, contributing to the substantial growth of the graphene oxide market.

Segment Analysis

The global Graphene Oxide Market has been segmented based on the Product, Application, and End-Use.

Based on the Product, the market is segmented into Graphene Nanoplatelets, Graphene Oxide, Reduced Graphene Oxide, Monolayer Graphene, Bulk Graphene, and Others. The Graphene Oxide segment was attributed to holding the largest market share in 2022.  Graphene oxide, characterized by its extensive surface area, serves as a versatile electrode material for capacitors, batteries, and solar cells. Its integration with diverse polymers and materials enhances composite material properties, including elasticity, conductivity, and tensile strength. Manifesting as flakes forming a stable, thin structure, it offers flexibility for stretching, folding, and wrinkling, finding applications in ion conductors, hydrogen storage, and nanofiltration membranes.

Based on the Application, the Graphene Oxide Market has been segmented into Paints & Coatings, Electronic Components, Composites, Batteries, Solar Panels, and Others. The Composites segment was expected to hold the largest market share in 2022. Graphene-based composites find extensive applications in the construction, aerospace, and automotive industries, as well as in coatings, metals, and plastics. The primary source of near-term demand arises from composite manufacturers, given that graphene is positioned as a viable substitute for carbon nanotubes due to its ease of handling and enhanced capabilities. The remarkable properties of graphene, including strength, flexibility, lightweight, and conductivity, contribute to its growing adoption.

Based on the End-Use, the Graphene Oxide Market has been segmented into Automotive, Medical, Aerospace, Defense, Concrete Industry, Tires, and Others. The Automotive segment was expected to hold the largest market share in 2022. The expansion of this sector can be attributed to the increasing disposable income and growing purchasing power of the middle-income population in emerging economies. With the global automotive industry anticipated to experience growth in the coming years, there is a corresponding surge in demand for graphene and graphene-based products projected during the forecast period. Notably, the US car manufacturing market reached a value of $104.1 billion in 2023. The year 2022 witnessed the sale of 10.9 million light trucks and 2.9 million cars in the US. Additionally, in 2021, the US exported 105 billion items related to motor vehicles and parts, ranking as the second-largest in exports.

Regional Analysis

The global Graphene Oxide Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Graphene Oxide Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Graphene Oxide Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Graphene Oxide Market comprises of Middle East, Africa, and Latin America.

The largest market share for the Graphene Oxide Market was maintained by the North American regional sector. North America is poised for substantial growth in the composites sector, driven by increasing demand from the aircraft manufacturing and automobile industries. According to the American Composites Manufacturers Association, this industry annually contributes $22.2 billion to the US economy, with the end-product market for composites expected to reach $113.2 billion by 2022. Significantly, four billion pounds of composite materials are sold each year for various automotive applications. Leading aircraft manufacturers like Boeing are prioritizing lightweight composite materials, including graphene, to enhance the efficiency and performance of their aircraft. The U.S., being the largest market in North America, stands out as a key exporter of graphene-based products to countries without graphene production capabilities. The market has witnessed a surge in collaborations between manufacturers and research institutions, reflecting a heightened focus on research and development activities. The ongoing advancements in end-use applications are anticipated to further drive demand in this dynamic market.

Moreover, the Europe market has been persistently growing over the forecast period. Europe leads in both graphene research and its commercialization efforts. The European Union has made substantial investments in projects related to graphene, contributing to the vibrancy of the market. Research institutions and industries in countries such as the United Kingdom and Germany are actively investigating the potential applications of graphene in diverse sectors, including electronics, automotive, and energy storage. The presence of government initiatives and a supportive innovation ecosystem positions Europe as a significant player in the global graphene market.

The Asia-Pacific region commands the largest share of the graphene market, driven by rapid industrialization and a surge in graphene-based application patents. Graphene oxide is poised for significant growth in this region. China, with one of the largest electronics production bases, presents robust competition to established upstream producers like South Korea, Singapore, and Taiwan. Notably, electronic products such as smartphones, OLED TVs, and tablets exhibit the highest growth rates in the consumer electronics segment, driving substantial demand. As per the National Bureau of Statistics of China, retail sales of household appliances and consumer electronics in China reached nearly CNY 61 billion (USD 8.52 billion) in April 2023. Data from the Japan Electronics and Information Technology Industries Association (JEITA) indicates that global electronics and IT industry production totaled USD 3,436.8 billion in 2022, marking a 1% year-on-year growth compared to USD 3,360.2 billion in 2021. Furthermore, the industry is projected to reach USD 3,436.8 billion, with an expected annual growth rate of 3% this year.

Furthermore, the rest of the world's Graphene Oxide Market is divided into the Middle East, Africa, and Latin America. The demand for graphene is propelled by vigorous industrialization and a keen emphasis on emerging technologies, spanning applications from electronics to energy storage. Government initiatives aimed at supporting graphene research, combined with a flourishing electronics sector, establish the region's significance in spearheading advancements and innovation in the graphene market.

Key Findings of the Study

• The global Graphene Oxide Market is expected to reach USD 2.29 billion by 2032, at a CAGR of 32.50% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market because of a substantial concentration of manufacturers and consumers. The anticipated growth in production volumes across diverse sectors such as automobile, marine, defense, and aerospace are poised to propel the graphene oxide industry in this geographical area.


• Based on Product, the Graphene Oxide segment was attributed to holding the largest market in 2022, with an approximate market share of 55–60%.


• 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.