A market research study on the fullerene market, forecasted for 2021 to 2028, has been published by Knowledge Sourcing Intelligence.
The fullerene market was valued at US$1,606.904 million in 2021 and is anticipated to grow at a CAGR of 16.29% over the forecasted period to reach a market size of US$4,621.537 million in 2028.
The key driving force behind the Fullerene market’s growth is the surging demand for high-performance electronics and its expanding role in healthcare advancements. Fullerene’s exceptional properties, including high electron mobility and excellent electrical conductivity, make it a preferred material for developing cutting-edge electronic devices. Furthermore, fullerene’s unique physical and chemical attributes drive its usage in diverse healthcare applications, such as drug delivery, cancer therapeutic, and medical imaging.
The market is witnessing multiple innovations, for instance in January 2023, a team of researchers from the Institute for Basic Science in South Korea and the University of Science and Technology of China announced the discovery of a new form of carbon called “Long-range Ordered Porous Carbon” (LOPC) which was created by heating C60 fullerene (buckminsterfullerene or “buckyball” molecules) powder in the presence of α-Li3N (alpha lithium nitride) at moderate temperatures and one atmosphere of pressure. It opens up new possibilities for carbon materials and has potential applications in energy harvesting, transformation, and storage catalysis for chemical production. Moreover, the scalability of the synthesis process makes it feasible for large-scale production. Similarly, in December 2020, Researchers from Yokohama National University and the University of Electro-Communications in Japan developed a highly efficient method for producing a unique fullerene crystal known as “fullerene finned-micropillar” (FFMP). These one-dimensional fullerene crystals are easier to work with and have various applications in devices like field-effect transistors, solar cells, superconductors, and chemical sensors.
The fullerene market, based on its product type, is segmented into four main categories namely C60, C70, C76, and others.
The fullerene market, based on its shape, is divided into three segments, which include nano-tubes, nano-rods, and buckyballs.
The fullerene market, based on the end-use industry, is segmented into six main categories namely energy, electricals and electronics, pharmaceuticals, cosmetics, aerospace & defense, and others.
The Asia-Pacific region is poised to dominate the fullerene market, driven by the rapid growth of industries such as aerospace, defense, electronics, medical, and pharmaceuticals in countries like China, India, and Japan. China, in particular, is projected to become the world’s largest single-country market for civil aircraft production in the next 20 years, with a substantial number of new deliveries expected, further boosting the demand for fullerene. Additionally, in July 2023, a research team from Chiba University in Japan, developed fullerene-pillared porous graphene (FPPG), a carbon composite with precisely controllable pore structures addressing the need for improved separation materials in water purification, pollutant removal, and heat pumping processes.
As part of the competitive intelligence section of the study, the major players operating in the fullerene market have been covered and analyzed. These include Nano-C, Vitamin C60 BioResearch Corporation, Nanotech Industrial Solutions, SES Research Inc., Mitsubishi Chemical Holdings, MTR Ltd., American Elements, NeoTech Product, Xiamen Funano New Material Technology Co., Ltd., and Sigma Aldrich among others.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/fullerene-market
This analytics report segments the fullerene market as follows:
- By Product Type
- By Shape
- Bucky Balls
- By End Use Industry
- Electricals & Electronics
- Aerospace & Defense
- By Geography
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America