The global black phosphorus market size is expected to reach USD 469.61 million by 2032, according to a new study by Polaris Market Research. The report “Black Phosphorus Market Share, Size, Trends, Industry Analysis Report, By Application (Electronic Devices, Energy Storage, Sensors), By Form and By Region Forecast, 2023- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market for black phosphorus is expected to grow significantly in the coming years due to its unique physiochemical and structural properties. This material has gained substantial interest from various industries, particularly in photoelectric, electrochemical, and biological research, owing to its excellent thermal conductivity, optical properties, and mechanical strength. Moreover, the increasing demand for energy storage devices and batteries, particularly in the electric vehicle industry, is expected to drive up demand for black phosphorus.
With its high energy storage capacity, low resistance, and excellent stability, black phosphorus has shown significant potential in lithium-ion batteries. This, coupled with its promising applications in optoelectronics, which can be used as a semiconductor material, is expected to fuel the market growth of black phosphorus in the forecast period.
In May 2021, Merck, a science and technology company, entered into a partnership with Topco Scientific to increase the use of greener and more sustainable materials in the electrical industry. The partnership provides access to experts from both companies and the transfer of knowledge and expertise to scientists and scholars at Universitas Indonesia through mentoring and workshop series. This collaboration is expected to increase the demand for black phosphorus.
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Furthermore, it has emerged as a highly versatile and sought-after material in the consumer electronics market. This trend is mainly attributed to its exceptional properties and unique features. For instance, black phosphorus's customizable bandgap and high carrier mobility make it an ideal material for numerous short-range infrared communication devices such as TV remotes, air conditioner remotes, set-top boxes, and smartphones. Another factor driving the growth of black phosphorus in the market is its ability to enable broadband photodetection in both visible and infrared spectrums.
As a result, the material has witnessed an increasing demand from various end-use industries, including telecommunications, electronics, and energy storage. Additionally, black phosphorus has the potential for diverse applications in optical electronics, sensing, and biomedicine fields. Researchers are exploring and developing these potential applications of black phosphorus, indicating a promising future for the material in the coming years.
Black Phosphorus market Report Highlights
Polaris Market Research has segmented the Black Phosphorus market report based on type, application, and region:
Black Phosphorus, Form Outlook (Revenue - USD Million, 2019 - 2032)
Black Phosphorus, Application Outlook (Revenue - USD Million, 2019 - 2032)
Black Phosphorus, Regional Outlook (Revenue - USD Million, 2019 - 2032)