black phosphorus, also known as phosphorene, had gained significant attention in the field of nanomaterials and semiconductor technology due to its unique electronic and optical properties. It is a two-dimensional material that belongs to the family of transition metal dichalcogenides (TMDs). The black phosphorus market is estimated to grow to USD 83 million by 2027 from USD 13 million in 2022, at a CAGR of 43.1% between 2022 and 2027. The black phosphorus market is mainly driven by the increasing demand for gas sensors in critical industries and the implementation of various health and safety regulations globally.
Browse 136 market data Tables and 44 Figures spread through 153 Pages and in-depth TOC on “Black Phosphorus Market by Form (Crystal, Powder), Application (Electronic Devices, Energy Storage, Sensors), and Region (North America, Asia Pacific, Europe, South America, Middle East & Africa) – Global Forecast to 2027”
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The Black Phosphorus Industry refers to the production, research, and commercialization of black phosphorus-based materials and products. Its demand and end-use applications are closely related to its distinctive properties, which include:
- Semiconductor Devices: Black phosphorus has attracted interest for its potential application in semiconductor devices, especially in nanoelectronics. Its tunable bandgap allows for the design of transistors with superior electrical characteristics, enabling more efficient and faster electronic components.
- Optoelectronics: Black phosphorus shows excellent optical properties, making it a candidate for optoelectronic devices such as photodetectors and light-emitting diodes (LEDs). Its bandgap can be adjusted to cover a broad range of the electromagnetic spectrum.
- Energy Storage: Researchers have explored black phosphorus-based materials for energy storage applications, including lithium-ion batteries and supercapacitors. Its high surface area and good electrical conductivity are advantageous for enhancing the performance of these energy storage devices.
- Sensors: The unique sensitivity of black phosphorus to environmental changes, such as strain and gas adsorption, has led to its consideration in the development of high-performance sensors.
- Biomedical Applications: There is growing interest in utilizing black phosphorus for biomedical applications, such as drug delivery systems and bioimaging, due to its biocompatibility and ease of functionalization.
Crystal is estimated to be the largest form of black phosphorus market in 2021
The crystal form of black phosphorus is estimated to be the largest form of black phosphorus market, in terms of value, in 2021. Crystal black phosphorus is used to produce single-or few-layer phosphorene through mechanical or liquid exfoliation. Phosphorene is at the center of various fundamental studies and applications, including electronics, optoelectronics, spintronic devices, sensors, actuators, and thermoelectric as well as energy conversion and storage devices.
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Electronic Devices is estimated to be the largest application of black phosphorus market in 2021
The electronic devices application accounted for the largest share of the global black phosphorus market, in 2021. Due to the growing demand and integration of optoelectronic components with various consumer devices, manufacturers and various R&D communities have become more focused on R&D to develop new technologies. They are investing in optical and optoelectronic technologies for next-generation communication networks and high-speed optical computing. This is expected to drive the market for black phosphorus used in electronic devices.
Asia Pacific is projected to be the fastest-growing market for black phosphorus during the forecast period.
Asia Pacific is projected to witness the highest CAGR due to the rapid economic expansion in the region. The growth is mainly attributed to a high economic growth rate, followed by heavy investment in the healthcare, safety, electronics, and automotive industries. With economic constraints and saturation in the European and North American markets, the demand is shifting to the Asia Pacific region. This region not only serves as a manufacturing hub but also has key R&D facilities. The automotive industry in the emerging economies of Asia Pacific is expected to grow because of improving lifestyles, economic conditions, and the booming manufacturing sector.
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Key Players Analysis:
The key market players profiled in the report include ACS Material LLC (US), 2D Semiconductors (US), Nanochemazone (Canada), American Elements LLC (US), Merck (Germany), HQ Graphene (Netherlands), Hunan Azeal Materials Co. Ltd. (China), Ossila Ltd. (UK), Stanford Advanced Materials (US) and Manchester Nanomaterials (UK) among others.
Merck is a subsidiary of Merck KGaA and one of the leading science and technology companies. In 2015, the company completed the acquisition of Sigma-Aldrich worth USD 17 billion. With this acquisition, the company is able to serve life science industry customers across the globe with an attractive set of established brands, such as SAFC and BioReliance, and an efficient supply chain that supports the delivery of more than 300,000 products.
