Graphene - what happened after the hype?

The Initial Hype 

Graphene has remarkable properties, being strong, lightweight, and an excellent conductor of heat and electricity. After discovery in 2004, Andre Geim and Konstantin Novoselov were awarded the Nobel Prize in Physics for 2010, for their groundbreaking experiments regarding the two-dimensional material graphene.  

Following its discovery, graphene sparked immense excitement due to its seemingly boundless potential applications, ranging from ultra-fast electronics and super-strong materials to revolutionary medical devices and advanced energy storage solutions. This enthusiasm was well-founded, as graphene’s unique properties indeed paved the way for groundbreaking innovations. 

Challenges in Commercialization 

Despite its promising attributes, transitioning graphene from the lab to the market has been challenging. One major hurdle is the difficulty and expense of producing high-quality graphene on a commercial scale. Although small quantities can be made relatively easily, scaling up production without compromising its properties remains an obstacle. 

Nevertheless, the graphene market has experienced significant growth recently, and according to the Graphene Global market report 2024 expanding from $1.08 billion in 2023 to $1.32 billion in 2024, with a compound annual growth rate (CAGR) of 22.1%. This trend is expected to continue, with the market projected to reach $2.98 billion by 2028, maintaining a CAGR of 22.5%. 

Reduction in Price of Graphene Over Time 

Flake graphene, also known as graphene nanoplatelets, has seen a significant reduction in price over the past decade. Initially, the production of high-quality flake graphene was very costly, with prices reaching thousands of dollars per gram. This high cost was due to the complex and labor-intensive methods required to produce it on a commercial scale. 

However, advancements in production techniques, such as liquid-phase exfoliation and electrochemical exfoliation, have drastically reduced these costs. These methods allow for the production of graphene flakes in larger quantities and at lower costs. As a result, the price of flake graphene has dropped significantly and is available in the price range $1000 per gram to less than $100 per gram. It is generally expected to decrease as production techniques improve and scale up, with efforts to achieving $10 per gram, making it more accessible for various applications. In the mean time users can be comforted by the fact that there are many qualities of graphene, and that the most expensive one, mill not be optimal in all applications. Furthermore, a little graphene goes a long way in most applications. 

The price of CVD and epitaxial graphene has seen reductions. For example, Graphenea, a leading graphene producer, has consistently reduced prices, with a 15% drop in CVD film prices reported in early 2024. Overall, while both these types of graphene have become more affordable, the journey to cost-effective, large-scale production continues to be a work in progress. 

Standardization as a tool for communication, and building trust 

Another challenge during commercialization was the initial lack of common understanding of the vocabulary describing graphene and related 2D materials. To understand this confusion, we need to look at the differences between how graphene is defined, a single layer of carbon atoms arranged in a honeycomb structure, and what is commercially available. This may be close to graphene sheets made using CVD and epitaxial graphene which is also available. However, the way graphene flakes is manufactured industrially, for example exfoliation of graphite, provides non uniform flakes in terms of flake size, number of layers and defects. So, you can see that there already numerous variables needed to describe commercial samples. Furthermore, one common “relative” to graphene is graphene oxide, GO, and the reduced version, rGO. To make matters worse there has been the sales of “fake” graphene, mainly consisting of graphite or micro-graphite. Consequently, the lack of regulation and standardization create trust issues among sellers and buyers that impede industrial development and progress. 

Fortunately, there is now global agreement on the vocabulary of graphene related 2D materials (ISO/TS 80004-13:2024), as well as several standard for analysis of different properties of graphene and classification framework for graphene‐related 2D materials for describing the commercial sample is in the pipeline (ISO/CD TS 9651). 

The Hype and Disappointment Curve 

Graphene’s journey can be mapped onto the Gartner Hype Cycle, a graphical representation of the maturity, adoption, and social application of new technologies. Initially, graphene experienced the “Peak of Inflated Expectations,” where media and public interest surged. This was followed by the “Trough of Disillusionment,” as the challenges of commercialization became apparent. Currently, graphene is climbing the “Slope of Enlightenment,” where more practical and scalable applications are being realized. It is gradually moving towards the “Plateau of Productivity,” where its benefits are becoming more widely recognized and adopted.   

Real-World Applications 

Despite initial challenges, graphene is far from being a mere hype.  
The projected growth of the graphene market is driven by environmental concerns, industry collaborations, market expansion efforts, supply chain optimization, and rising demand. Key trends according to Graphene Global market report 2024 are expected to include increased adoption in electronics and semiconductors, greater use in energy storage applications, entry into healthcare and biomedical sectors, the rise of graphene-enhanced composites in aerospace and automotive industries, and the development of sustainable, eco-friendly graphene-based products. 

Apart from early adopters such as sport equipment, graphene supercapacitors are already on the market, as are graphene enhanced lubricants. Graphene-enhanced composites are already being used to create lighter and stronger materials for automotive parts, and even aerospace components. In high volume applications such as construction materials the use of graphene is expected to grow, as an example a range of low carbon, graphene-infused, 3D-printable mortars suitable for civil construction are being developed.  
One of the most promising areas for graphene is in energy storage. Graphene-based batteries and supercapacitors are being developed to offer higher energy densities and faster charging times compared to traditional technologies.  
In the realm of electronics, graphene is being explored for use in flexible displays, high-speed transistors, and advanced sensors.  

Graphene and GO find their use in membranes used for desalination, gas separation, and industrial water treatment. There is now a scalable manufacturing process spools out strips of graphene for use in ultrathin membranes. In the area of life science there are graphene-based biosensors are used in medical diagnostics and environmental monitoring, graphene oxide based drug delivery systems to enhance the efficacy of treatments, with some products in clinical trials, graphene-based antibacterial coatings are used on medical devices and implants to prevent infections.  

Beyond Graphene: The Rise of Other 2D Materials 

The research and development efforts surrounding graphene have also opened the door to a whole new class of materials known as 2D materials. These materials, which include molybdenum disulfide (MoS₂), hexagonal boron nitride (h-BN), and phosphorene, share some of graphene’s remarkable properties but also offer unique characteristics of their own. For example, MoS₂ is being explored for its potential in flexible electronics and optoelectronics, while h-BN is known for its excellent insulating properties. A large family of two-dimensional (2D) inorganic compounds are MXenes (pronounced “max-eens”). They consist of atomically thin layers of transition metal carbides, nitrides, or carbonitrides, and have inherently good conductivity and excellent volumetric capacitance.  

The Role of RISE in Advancing 2D Materials 

Applied research is crucial in pushing the boundaries of what graphene and other 2D materials can achieve, paving the way for new and innovative applications. Sweden, has a strong position here, as the strategic innovation program SIO Grafen has built strong network of partners from academia, institutes and companies, including start-ups and SMEs.   

The Research Institutes of Sweden (RISE) is active in research and development using graphene and other 2D materials. RISE has research in, among others, these areas: 

• functional coatings,  
• lightweight materials and composites,  
• membranes,  
• electronics,  
• sensors,  
• energy including hydrogen and batteries,  
• electronics,  
• catalysts 
• drug delivery.  

At RISE we can help you develop your graphene enabled application by supplying support in everything from applied research to product development:

Opportunities with graphene and other 2D materials
RISE offer in graphene and other 2D materials, that will help you with your innovation journey. 

Conclusion 

The EU views advanced materials, including materials such as graphene, as crucial for achieving the green and digital transitions, emphasizing their role in driving innovation and sustainability across various sectors. They are seen as essential for Europe’s competitiveness and strategic autonomy. 

Although graphene hasn’t yet revolutionized the world as dramatically as initially envisioned, it is steadily making its mark across various industries. The path from hype to practical application is often long and complex, but the progress made so far indicates that graphene’s potential is far from exhausted. With ongoing research and development, with the help from institutions like RISE, the future of graphene and other 2D materials looks promising. 

As for the future of graphene, I believe it holds great promise. With continuous advancements in production and application, it has the potential to live up to its early expectations.