Rhenium Disulfide Market Size, Share, Growth, and Industry Growth by Type (Rhenium Disulfide Crystal, and Rhenium Disulfide Film) By Application (Semiconductor, Optoelectronics, and Others) Regional Forecast to 2027

Updated On: 06 March 2023

REPORT OVERVIEW

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global rhenium disulfide market size was USD 380.9 million in 2020 and is projected to touch USD 1157 million by 2027, exhibiting a CAGR of 17.2% during the forecast period. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. The COVID-19 pandemic has negatively affected several markets globally. This market is expected to grow slowly during the COVID-19 pandemic.

Rhenium disulfide (ReS2) is an inorganic rhenium-sulfur compound with the formula ReS2. It has a multilayer structure with strong bonds between atoms inside each layer. Weak Van der Waals connections hold the layers together, allowing them to be easily peeled away from the bulk material. Mechanical exfoliators, chemical vapor deposition (CVD), and chemical and liquid exfoliations are commonly used to create nanostructured ReS2. With the use of liquid carbonate flux and high pressure, larger crystals can be formed. It is widely employed in electronic and optoelectronic devices, energy storage, photocatalytic and electrocatalytic reactions, and many other applications.

Rhenium disulfide is a high-purity, low-cost metal. Individual crystals or powder are available. It can be used to make single-layer or multilayer sheets. On qualified orders, worldwide shipping is free. Because of its limited interlayer coupling, rhenium disulfide is a direct band gap semiconductor with excellent optoelectronic performance. Compared to black phosphorus (BP), ReS2 is a naturally occurring but highly rare TMDC that is environmentally stable, making it an excellent choice for use in ambient circumstances. ReS2 has been discovered to be a diamagnetic semiconductor with bi-axial optical and electrical capabilities, and an n-type photovoltaic material with a 1.4 eV optical gap.

COVID-19 Impact: Halt on Production and Supply Chain Disruption to Impede Sales. 

COVID-19 pandemic began to spread over the world in the first half of 2020, infecting millions of people globally, prompting major countries around the world to impose foot prohibitions and work stoppage orders. Most businesses, with the exception of medical supplies and life support items, have been severely hit, and Rhenium Disulfide industries have also been severely disrupted. However, medicinal shortages caused by COVID-19 are expected to be limited in the medium run due to global medical stocks. Since the lockdowns were instituted, supply from Chinese industrial facilities has been substantially reduced. The most significant impact has been the incapacity of many regular workers to return to work, resulting in unmet efficiency at all levels of the industry.

LATEST TRENDS

"Increasing Application in Various Sector to Bolster Market Progress"

Mechanical or liquid exfoliation can be employed to create monolayer and few-layer ReS2 from rhenium disulfide single crystals. Rhenium disulfide powder can be used to make ReS2 nanosheets and nanoparticles down to single-layer films via liquid chemical exfoliation. The physical features of rhenium disulfide are unusual: it has strong in-plane anisotropy and a direct tunable optical band gap between 1.4 and 1.6 eV for both bulk and monolayer structures. ReS2 layered nanostructures are therefore promising options for optoelectronic devices, photosensitive detectors, sensors, stretchy electrodes, and electrocatalysts. Field-effect transistors, energy storage devices (such as rechargeable batteries), and photocatalytic and electrocatalytic hydrogen evolution reactions are all made with ReS2 nanosheets and nanoparticles (HER). Solar cell devices made of ReS2 are also possible.

Segmentation

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• By Type Analysis

By type, the market is segmented into Rhenium Disulfide Crystal, and Rhenium Disulfide Film

The rhenium disulfide film type segment is expected to lead because new technology is still being developed to make it easier to recycle nickel-base superalloy scrap. The processing of scrapped engine parts to make engine revert grew globally, and the increased supply of engine revert was projected to have a substantial impact on the rhenium market. These factors are likely to influence the growth of the industry. 

• By Application Analysis

Based on application, the market is classified into Semiconductor, Optoelectronics, and Others

The optoelectronics products segment is expected to be the leader because the aerospace industry's need for rhenium was predicted to continue to rise, although being more unpredictable. The main aerospace industries were expected to continue testing superalloys with half the amount of rhenium now used in engine blades, and rhenium-free alloys for other engine components which is expected to boost market progress. 

DRIVING FACTORS

"Increasing Demand due to Electrical Characteristics to Facilitate Industry Progress"

The electrical and optical characteristics of rhenium disulfide, particularly in low-dimensional form, are a hot topic of investigation. The field of two-dimensional materials, such as graphene and its counterparts, has been quickly expanding. The transition-metal dichalcogenide family also includes rhenium disulfide and rhenium diselenide, which belong to this class of compounds. They have different electrical and visual features along particular in-plane crystal directions due to their decreased crystal symmetry. Weak interlayer coupling and a distorted 1T structure define atomically thin rhenium disulfide, resulting in anisotropy in optical and electrical characteristics. Structure and vibrational anisotropy, layer-independent electrical and optical characteristics, and metal-free magnetism are all features of this material. It varies from group-VI transition-metal dichalcogenides like MoS2, MoSe2, WS2 and WSe2 in these ways. It's already being employed in applications such as solid-state electronics, catalysis, energy storage, and energy harvesting.

"Increasing Adoption due to its Chemical Properties to Magnify Market Growth"

The most common group-VI elements are molybdenum and tungsten, but group-VII rhenium disulfide has recently attracted the most attention due to its unusual structural, electro-optical, and chemical properties, particularly an indirect-to-direct band-gap transition that occurs when the material is thinned down from bulk to monolayer. ReS2 has a deformed 1T structure that imparts in-plane anisotropy to its physical properties, whereas the group-VI transition-metal dichalcogenides have a 1H, 2H, 3R, or 1T structure. Few other materials (black phosphorus, ReSe2, TiS3, ZrS3) have structural anisotropy in the plane. This distinguishes ReS2 from other transition-metal chalcogenides.

RESTRAINING FACTORS

"High Costs and Poor Mechanical Performance to Impede Market Progress"

The high expenditure involved in the full industry procedures in the supply chain is a primary factor limiting the rhenium disulfide market growth. The total average expenditure per compound semiconductor device across the whole supply chain (including both complete upstream and downstream cost) is significantly higher than the average expenditure per pure silicon semiconductor device. The main reason for this is that all of the processes are complex, novel, use advanced technology, and necessitate expensive state-of-the-art equipment. Furthermore, among the engineering community and executives of compound semiconductor sector companies, they lack familiarity and essential skills in manufacturing procedures.

REGIONAL INSIGHTS

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"Presence of a Developed Digital Infrastructure to Bolster Growth in North America"

North America is expected to dominate the rhenium disulfide market share because of the technology breakthroughs and substantial penetration of LED devices. Factors including the growing development in the consumption of optoelectronics items in emerging nations like Japan, China, and India would benefit the rhenium disulfide market growth in the region. Furthermore, the electrical and optoelectronics industry in Japan is one of the most advanced in the world.

Asia Pacific is the second-largest market shareholder globally. The development has given the U.S. a distinct competitive advantage in chemical manufacturing. The production from the extraordinary expenditure in chemical manufacturing in the U.S. is expected to increase dramatically. Furthermore, these sectors play a significant role in driving the rhenium disulfide industry in the region. These factors are likely to propel market development. 

KEY INDUSTRY PLAYERS

"Companies Adopt Technologically Advanced Production Techniques to Improve Market Position"

Due to the existence of several established players participating in various marketing techniques to enhance their market share, the rhenium disulfide industry is extremely competitive and fragmented. Price, quality, brand, product differentiation, and product portfolio are used to profile the market's providers. Vendors are increasingly emphasizing product customization through client contact. The majority of manufacturers are investing in research and development to develop semiconductors.

INDUSTRY DEVELOPMENT-

List of Market Players Profiled

• HQ Graphene (Netherlands)
• 2D Semiconductors (U.S.)
• 6Carbon Technology (India)
• Muke Nano

REPORT COVERAGE

The study is based on firsthand experience, qualitative and quantitative analysis by industry analysts, and contributions from industry professionals and value chain players. In-depth analysis of parent market trends, macroeconomic statistics, and governing factors, as well as market appeal by segment, is included in the study. The research also depicts the qualitative impact of key market drivers on market segments and geographies.