Newark, May 30, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 2.9 billion graphene oxide market will reach USD 43.8 billion by 2033. One kind of graphene is graphene oxide. The production of graphene is directly related to the need for graphene oxide. The growing need for lightweight, flexible, renewable materials with longer lifespans has fueled the need for graphene oxide, propelling the graphene oxide market worldwide. Graphene oxide is used in various applications due to several factors, including the growing need for recyclable and flexible materials and the pursuit of renewable energy sources. A single-atomic layer known as graphene oxide (G.O.) is created when graphite undergoes severe oxidation. Growing G.O. usage across a broad range of end-use sectors, such as automotive and transportation, electronics, aerospace and military, construction, textile, and healthcare, is one of the main reasons anticipated to propel market revenue growth. Furthermore, because of graphene's strong antibacterial and antiviral properties, the medical world is becoming more interested in researching the material's potential use in diagnosing, treating, and preventing COVID-19.
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Scope of Graphene Oxide Market
| Report Coverage | Details |
| CAGR | 31.2% from 2024 to 2033 |
| Market Size in 2023 | USD 2.9 Billion |
| Market Size by 2033 | USD 43.8 Billion |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Year | 2024 to 2033 |
| Historical Year | 2020-2022 |
| Segments Covered | by Type, Application, Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Key Insight of the Global Graphene Oxide Market
North America will account for the largest market size during the forecast period.
The U.S. dominates this market because several end-user industries, including the automotive and healthcare sectors, employ graphene. The International Trade Administration (ITA) stated that the United States was the world's second-largest vehicle production and sales market. At 17.2 million light vehicle sales in 2018, the U.S. is among the largest automotive markets in the world.
The solution-based graphene oxide segment dominated the market with the most significant revenue of USD 1.68 billion.
The solution-based graphene oxide segment dominated the market with the most significant revenue of USD 1.68 billion. Throughout the projection period, the solution segment is expected to have the largest revenue share due to the increasing application of nanotechnology in the electronics manufacturing industries. It dissolves in water and other liquids and is available for purchase as a powder or solution for surface coating.
The aerospace industry segment dominated the market with the most significant revenue of USD 0.72 billion.
The aerospace industry segment dominated the market, with the most significant revenue of USD 0.72 billion. The product transforms the aerospace sector by improving the performance of coatings and composites used in constructing helicopters, aeroplanes, spacecraft, and drones. Throughout an aircraft's lifespan, improvements are made to its mechanical characteristics, size and weight, fuel efficiency, and emissions.
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Market Dynamics:
Drivers: Surge in use of electronic devices applications
Because of its numerous uses in semiconductors, transistors, capacitors, and sensors, the electronics application now holds the top volume share in the worldwide graphene oxide market. It is predicted to rise significantly over the projection period. Graphene oxide is an extremely important commodity due to its numerous applications, such as transparent conductive sheets for different supercapacitors, cellphones, and flexible electronic devices. This is expected to drive the market’s growth during the forecast period.
Restraint: High cost of production
The high expense of generating graphene oxide is mostly due to the challenges associated with large-scale graphene oxide production and the requirement for specialised equipment and techniques. The cost must be cut to make graphene oxide more commercially viable across various industries and applications. This hinders the market’s growth.
Some of the major players operating in the graphene oxide market are:
● Global Graphene Group
● Avanzare Innovacion Tecnologica S.L.
● Cheap Tubes Inc.
● The Sixth Element Materials Technology Co. Ltd.
● ACS Material
● E Way Technology Co., Ltd.
● NanoXplore Inc.
● Graphenea, Inc.
● Directa Plus S.p.A.
● BGT Materials Limited
● Garmor Tech
● Allightec Co., Ltd
Key Segments cover in the market:
By Type:
● Solution-Based Graphene Oxide
● Powder-Based Graphene Oxide
By Application:
● Aerospace Industry
● Composites Materials
● Medical
● Electronic Devices
● Catalytic Oxidation
● Others
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About the report:
The global graphene oxide market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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