Mapping the landscape for graphene commercialization

In the 20 years since the isolation of gra-phene, the scientific community has pro-duced over 370,000 research papers, filed more than 150,000 patents, and witnessed the emergence of numerous companies dedi-cated to harnessing the potential of graphene-related materials (GRMs). Notably, the European Union launched a €1 billion, ten-year initiative aimed at propelling Europe to the forefront of graphene commercialization1. However, despite these strides, there is a lin-gering sense that graphene is not delivering on its commercial promises.

Though two decades may appear subs-tantial, contextualizing graphene’s journey against the historical trajectories of other legacy materials suggests it is still in its early days2. A review of graphene’s commercial pro-gress five years ago indicated promising devel-opments, and recent years have witnessed an even more accelerated pace3. This rapid advancement is facilitated by the establish-ment of standards, detailed studies on health and safety considerations4,5, a robust system to verify bona fide graphene producers, and regulatory approvals across major markets like Europe, the USA, Canada, and Australia. Currently, global graphene produc-tion exceeds 23,000 metric tons annually with over 250 companies globally commercializ-ing graphene-based materials, indicating a growing market presence.In recent years, corporations have increas-ingly outpaced academic institutions in patent filings, now accounting for 76% of all graphene patents, a 12% increase from 2019 to 2022. Another trend over the past five years is that traditional technology companies are now driving most graphene patents, rather than graphene companies. In 2019, traditional tech companies accounted for nearly 84% of cor-porate graphene patents. By 2020, this num-ber had increased to almost 91%, and by 2022, it had reached nearly 94%. This trend supports the argument that mainstream technology and industrial companies are seeking competitive advantages through graphene and patents for the use of other 2D materials. This shift indi-cates a promising direction for the integration of graphene into various applications.

Commercial developments

The commercialization of graphene is evident by the surge of related patents. Since 2004, over 150,000 graphene-related patents have been filed globally, with an average of 18,000 new patents annually in the last five years (Fig.1a). A notable increase followed the 2010 Nobel Prize for graphene, supported by substan-tial government funding in the USA, UK, EU, South Korea and Japan. Over the past few years, the operational strategies of companies in the graphene sector have also evolved. In the early years of graphene’s popularity, companies focused solely on the production of GRMs. Now, many are also developing ready-to-use solu-tions and products using GRMs through vertical integration, making them easier to adopt in tar-get application markets. This shift is driven by the unique characteristics of different types of GRMs and the specialized knowledge required to handle and apply them effectively. There are currently just over 250 companies in the production side of the graphene sector. About 36% of these companies are exclusively posi-tioned to produce GRMs as raw materials, while ~38% focus on developing GRM- integrated intermediates that can be used in target applications and the rest are involved in both.Another notable trend is the gradual con-solidation of GRM producers. The market is maturing, and a group of large-scale producers is emerging, aiming to serve a broad segment of the market. This consolidation has also led to the absorption of some smaller companies.

Versarien Plc is a prime example, transitioning from a graphene producer to acquiring more than seven other companies to expand its port-folio in graphene application development and cater to various market segments.

Evolving applications

Initially, roadmaps for graphene development emphasized its potential in flexible electron-ics, ultra-fast and low-power devices, tran-sistors, and highly efficient solar cells6. This focus drove an urgency to produce single-layer graphene materials. The advent of simpler bulk production methods, such as ultrasonic exfoliation, and their exploration in large-scale applications like polymer composites, substantially boosted research into bulk graphene7. Since then, graphene’s impact has extended far beyond its electronic properties, leveraging its reinforcing capability, thermal transport, high strength, and UV shielding.

In 2004, few anticipated its use in concrete, cement, and asphalt, which today are heav-ily invested application verticals using vari-ous forms of GRMs. Initial market research studies projected multi-million USD markets for graphene-based supercapacitors, pho-tonic devices, transparent conductive films, and flexible circuitry with a compound annual growth rate between 40–70%. 20 years on, many of these applications are still under development and some remain distant from commercial deployment.This is also reflective of the costs associated with R&D, procurement and integration of novel materials in various application markets. However, industries like coatings and composites have rapidly inte-grated bulk GRMs into their applications, adapting their existing expertise in dispersing other nanosized fillers into using GRMs. Patent analysis of graphene patents filed in 2022–2023 reveals that the top application areas still include energy storage, chemical additives, polymer additives and electronics (Fig.1b).Graphene’s principal applications are those it creates, not those where it offers only incremental improvements. These applica-tions could be those where graphene offers unprecedented performance, such as in next-generation graphene-based field-effect transistors, or enables traditional materi-als to be used in new ways, like advanced thermoplastics in aerospace technologies.

Sustainability-driven integration

Graphene is driving innovation across various sectors, motivated by the push for net-zero tar-gets. In high-volume commodity markets like cement, polymers, and coatings, graphene’s potential to reduce the carbon footprint of these energy-intensive materials makes it particularly attractive. For instance, the U.S. Tire Manufacturers Association has identified graphene as a potential replacement for 6PPD in tires, which is known for its ecotoxic effects.Innovations in production methods also enhance the sustainability appeal of gra-phene. There is a growing focus on producing graphene from sources other than graphite, which has an important place in the materials supply chain for batteries and is dominated by a few key global suppliers. Alternative pro-duction techniques use hydrocarbon gases as feedstock, yielding green hydrogen as a byproduct while being very energy efficient. This hydrogen can fuel plant operations, making the process more sustainable.Low-value hydrocarbon waste, such as petroleum coke, has also become a valu-able feedstock for graphene production. Petronas, a leading Malaysian petrochemi-cal company, holds key patents for produc-ing graphene from petroleum coke, which it generates in large quantities. Petronas now has a growing Advanced Materials division with graphene-based commercial products for energy storage, coatings, and composites applications. These advancements in alter-native feedstocks and production methods, combined with better economies of scale, can potentially lower graphene prices while reduc-ing its carbon footprint, increasing its market penetration in low-margin segments.

Outlook

Graphene, initially recognized for its excep-tional electronic properties, is now fulfilling its promise with applications like Paragraf’s highly sensitive, environmentally toler-ant, and reproducible sensors reaching the market. Many large-volume applications of graphene are treated as trade secrets, often not appearing in patent reviews or advertise-ments. This makes it easy to underestimate the actual level of graphene use. Neverthe-less, the innovation ecosystem surrounding graphene has flourished, establishing a robust groundwork for forthcoming breakthroughs. The increasing participation of end-user indus-tries signals a favourable transition from mere production to seamless product integration, promising an exciting future for graphene technology.

20 years on from the isolation of graphene, over 150,000 graphene-related patents have been iled. Yet despite early promises of integration into semiconducting and photonic devices, the biggest applications to date have been in energy storage and polymers. This article analyses graphene commercialization over the past two decades and discusses the role of graphene in applications towards net-zero carbon.In the 20 years since the isolation of gra-phene, the scientific community has pro-duced over 370,000 research papers, filed more than 150,000 patents, and witnessed the emergence of numerous companies dedi-cated to harnessing the potential of graphene-related materials (GRMs). Notably, the European Union launched a €1 billion, ten-year initiative aimed at propelling Europe to the forefront of graphene commercialization1. However, despite these strides, there is a lin-gering sense that graphene is not delivering on its commercial promises.Though two decades may appear subs-tantial, contextualizing graphene’s journey against the historical trajectories of other legacy materials suggests it is still in its early days2. A review of graphene’s commercial pro-gress five years ago indicated promising devel-opments, and recent years have witnessed an even more accelerated pace3. This rapid advancement is facilitated by the establish-ment of standards, detailed studies on health and safety considerations4,5, a robust system to verify bona fide graphene producers, and regulatory approvals across major markets like Europe, the USA, Canada, and Australia. Currently, global graphene produc-tion exceeds 23,000 metric tons annually with over 250 companies globally commercializ-ing graphene-based materials, indicating a growing market presence.In recent years, corporations have increas-ingly outpaced academic institutions in patent filings, now accounting for 76% of all graphene patents, a 12% increase from 2019 to 2022. Another trend over the past five years is that traditional technology companies are now driving most graphene patents, rather than graphene companies. In 2019, traditional tech companies accounted for nearly 84% of cor-porate graphene patents. By 2020, this num-ber had increased to almost 91%, and by 2022, it had reached nearly 94%. This trend supports the argument that mainstream technology and industrial companies are seeking competitive advantages through graphene and patents for the use of other 2D materials. This shift indi-cates a promising direction for the integration of graphene into various applications.Commercial developmentsThe commercialization of graphene is evident by the surge of related patents. Since 2004, over 150,000 graphene-related patents have been filed globally, with an average of 18,000 new patents annually in the last five years (Fig.1a). A notable increase followed the 2010 Nobel Prize for graphene, supported by substan-tial government funding in the USA, UK, EU, South Korea and Japan. Over the past few years, the operational strategies of companies in the graphene sector have also evolved. In the early years of graphene’s popularity, companies focused solely on the production of GRMs. Now, many are also developing ready-to-use solu-tions and products using GRMs through vertical integration, making them easier to adopt in tar-get application markets. This shift is driven by the unique characteristics of different types of GRMs and the specialized knowledge required to handle and apply them effectively. There are currently just over 250 companies in the production side of the graphene sector. About 36% of these companies are exclusively posi-tioned to produce GRMs as raw materials, while ~38% focus on developing GRM- integrated intermediates that can be used in target applications and the rest are involved in both.Another notable trend is the gradual con-solidation of GRM producers. The market is maturing, and a group of large-scale producers is emerging, aiming to serve a broad segment of the market. This consolidation has also led to the absorption of some smaller companies. Versarien Plc is a prime example, transitioning from a graphene producer to acquiring more than seven other companies to expand its port-folio in graphene application development and cater to various market segments.Evolving applicationsInitially, roadmaps for graphene development emphasized its potential in flexible electron-ics, ultra-fast and low-power devices, tran-sistors, and highly efficient solar cells6. This focus drove an urgency to produce single-layer graphene materials. The advent of simpler bulk production methods, such as ultrasonic exfoliation, and their exploration in large-scale applications like polymer composites, substantially boosted research into bulk graphene7. Since then, graphene’s impact has extended far beyond its electronic properties, leveraging its reinforcing capability, thermal transport, high strength, and UV shielding.In 2004, few anticipated its use in concrete, cement, and asphalt, which today are heav-ily invested application verticals using vari-ous forms of GRMs. Initial market research studies projected multi-million USD markets for graphene-based supercapacitors, pho-tonic devices, transparent conductive films, and flexible circuitry with a compound annual growth rate between 40–70%. 20 years on, many of these applications are still under development and some remain distant from commercial deployment.This is also reflective of the costs associated with R&D, procurement and integration of novel materials in various application markets. However, industries like coatings and composites have rapidly inte-grated bulk GRMs into their applications, adapting their existing expertise in dispersing other nanosized fillers into using GRMs. Patent analysis of graphene patents filed in 2022–2023 reveals that the top application areas still include energy storage, chemical additives, polymer additives and electronics (Fig.1b).Graphene’s principal applications are those it creates, not those where it offers only incremental improvements. These applica-tions could be those where graphene offers unprecedented performance, such as in next-generation graphene-based field-effect transistors, or enables traditional materi-als to be used in new ways, like advanced thermoplastics in aerospace technologies.Sustainability-driven integrationGraphene is driving innovation across various sectors, motivated by the push for net-zero tar-gets. In high-volume commodity markets like cement, polymers, and coatings, graphene’s potential to reduce the carbon footprint of these energy-intensive materials makes it particularly attractive. For instance, the U.S. Tire Manufacturers Association has identified graphene as a potential replacement for 6PPD in tires, which is known for its ecotoxic effects.Innovations in production methods also enhance the sustainability appeal of gra-phene. There is a growing focus on producing graphene from sources other than graphite, which has an important place in the materials supply chain for batteries and is dominated by a few key global suppliers. Alternative pro-duction techniques use hydrocarbon gases as feedstock, yielding green hydrogen as a byproduct while being very energy efficient. This hydrogen can fuel plant operations, making the process more sustainable.Low-value hydrocarbon waste, such as petroleum coke, has also become a valu-able feedstock for graphene production. Petronas, a leading Malaysian petrochemi-cal company, holds key patents for produc-ing graphene from petroleum coke, which it generates in large quantities. Petronas now has a growing Advanced Materials division with graphene-based commercial products for energy storage, coatings, and composites applications. These advancements in alter-native feedstocks and production methods, combined with better economies of scale, can potentially lower graphene prices while reduc-ing its carbon footprint, increasing its market penetration in low-margin segments.OutlookGraphene, initially recognized for its excep-tional electronic properties, is now fulfilling its promise with applications like Paragraf’s highly sensitive, environmentally toler-ant, and reproducible sensors reaching the market. Many large-volume applications of graphene are treated as trade secrets, often not appearing in patent reviews or advertise-ments. This makes it easy to underestimate the actual level of graphene use. Neverthe-less, the innovation ecosystem surrounding graphene has flourished, establishing a robust groundwork for forthcoming breakthroughs. The increasing participation of end-user indus-tries signals a favourable transition from mere production to seamless product integration, promising an exciting future for graphene technology.

Mapping the landscape for graphene commercialization

Like this:

More Graphene news