Research Nester published a report titled “Graphene Oxide Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global graphene oxide market in terms of market segmentation by type, application, end-use industry, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global graphene oxide market is anticipated to grow with a CAGR of 30.3% over the forecast period i.e., 2021-2029. The market is segmented by type into powder-based and solution-based. Amongst these segments, the solution-based segment is anticipated to grow with the highest CAGR of 30.8% during the forecast period. Solution-based graphene oxide is used widely in various applications, such as conductive inks, epoxies and adhesives, composites, films & coatings, rubber & synthetics, textiles & fibers, and others.
The global graphene oxide market is estimated to garner USD 854.7 Million by the end of 2029, up from USD 81.0 Million in 2020. Numerous benefits associated with graphene, which increases its applicability across wide end user industries, is one of the major factors anticipated to drive the market growth. Moreover, backed by the rising concern for coronavirus worldwide, healthcare researchers are increasingly working on using graphene for different healthcare applications, which in turn is anticipated to create numerous growth opportunities in the coming years.
The global graphene oxide market is segmented on the basis of region into five major regions which comprises of North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The North America market accounted for highest market value of USD 33.2 Million in 2020 and is further projected to grow with a CAGR of 29.7% during the forecast period. Robust defense, electronics, and automotive sectors in the region, where graphene oxide is used massively, is one of the major factors anticipated to drive the market growth. Moreover, the market is also anticipated to attain a revenue of USD 336.5 Million by the end of 2029.
Increasing Application of Graphene Oxide in End-Use Industries to Boost Market Growth
The growing number of applications for graphene oxide in a diverse range of end-use sectors, including automotive & transportation, electronics, aerospace & defense, construction, textile, and healthcare is one of the major factors anticipated to drive the market growth. Moreover, increasing research and developments for the use of graphene in various purposes is also expected to create numerous opportunities for the growth of the market in the coming years. For instance, companies in the graphene industry have developed prophylactic or protective face masks by utilizing graphene-enhanced polymers, such as, non-woven textiles modified with graphene materials. Produced graphene masks show anti-bacterial efficiency of 80%, thereby resulting in the growth of the market.
However, the high production cost & difficulty in mass production are estimated to negatively affect the growth of the market in upcoming years.
This report also provides the existing competitive scenario of some of the key players of the global graphene oxide market which includes company profiling of NanoXplore Inc., Global Graphene Group, Graphenea, Inc., Avanzare Innovacion Tecnologica S.L., Directa Plus S.p.A., Cheap Tubes, BGT Materials Limited, The Sixth Element Materials Technology Co. Ltd., Garmor Tech, ACS Material, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global graphene oxide market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.