Fullerene Market

Global Fullerene Market: Overview

Fullerenes, a type of allotropic carbon, is used widely for various applications across a large number of industries, including energy, electronic gadgets, semiconductors, automotive vehicles, and skin care products. It is also extensively used in a wide range of biomedical applications. Growing research and development activities, as well as increasing investments in nano-science, bio-clinical, and clinical sectors are estimated to propel growth within the global fullerene market in coming years. Some of the key end users for the products and formulations in the global fullerene market include electrical and electronics, energy, aerospace and defense, and healthcare, among others. Fullerenes products and compounds are produced using several production methods, including CVD or CVVD process, arc discharge method, and laser ablation of Graphite, among others. According to their shape, the products in the global fullerene market can be segmented into nano-rods, nano-tubes, and bucky balls.

Global Fullerene Market: Major Trends and Drivers

Rising utilization of functionalized fullerenes for treatment and imaging for identifying and treating cancer, and growing applications of fullerene compounds in skin care products are boosting growth within the global fullerene market. Furthermore, growing usage of fullerene-derived products in manufacture of solar cells, as well as electronic batteries, is also propelling demand within the global fullerene market. Apart from oncology, the products in the global fullerene market are also used in various medical fields, including diagnosis and detection of neurodegenerative disorders, as well as radiobiology. Furthermore, increasing use of fullerenes to facilitate chemotherapy is also favoring market expansion. However, the high cost associated with endohedral fullerenes may restrict the growth of the global fullerene market in coming years.

Similarly, concerns pertaining to environmental degradation and rising pollution, owing to rising use of nano-compounds that are toxic in nature, including fullerenes, are also hampering expansion of the global fullerene market. On the other hand, growing usage of fullerenes within various kinds of skin care applications and products to protect the human skin against various harmful free radicals, is anticipated to thrust growth in the global fullerene market in coming years.

Global Fullerene Market: Key Players and Manufacturers

Some of the leading incumbent manufacturers and players operating in the global fullerene market include Nano-C, Inc., Nanocyl SA, Tokyo Chemical Industry UK Ltd., Nanostructured & Amorphous Materials, Inc., SES Research Inc., Mitsubishi Chemical Holdings Corporation, Merck KGaA, Otto Chemie Pvt. Ltd., MTR Ltd., and Sisco Research Laboratories Pvt. Ltd., among others. Leading companies in the global fullerene market are focused on adopting several growth and expansion strategies, most prominently including strategic agreements, mergers and acquisitions, gaining contracts, product innovations, and launching new and technologically advanced products and solutions. For instance, a leading provider of specialty active formulations and ingredients, Nano-C, Inc., established a strategic partnership with Unify Pharmaceuticals in July of 2021. This move will allow Unify to begin their clinical phase 1 trials for novel medications for treating neurodegenerative diseases.

Global Fullerene Market: Regional Assessment

Asia Pacific is most likely to record the highest revenue share within the global fullerene market in the coming years. This trend can be ascribed to the fast-paced growth of the healthcare sector in economies such as India, Japan, and China, as well as the increasing demand for various novel drugs and medications, as well as beauty and cosmetic products from the regional consumers. Additionally, expanding electrical and electronics sector in the region is also anticipated to thrust growth in the Asia Pacific fullerene market in the near future.

North America region is also anticipated to record substantial growth in the fullerene market in coming years, owing to the rising number of regional pharmaceutical players engaged in increasing their usage of fullerene compounds and their derivatives for advanced drug delivery. Apart from this, increasing utilization of solar energy systems in regional economies of Mexico, Canada, and the United States is resulting in growing demand for fullerenes to develop powerful solar cells. This trend is also projected to thrust growth in the global fullerene market in coming years.