Global Fullerene Market to Reach US$ 629.7 Million by 2027, Propelled by Increasing Usage as Anti-inflammatory and Radical Scavenger

November 22, 2022

According to the latest report by IMARC Group, titled Global Fullerene Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global fullerene market size reached US$ 435.3 Million in 2021. Fullerene, or buckminsterfullerene, is a group of carbon allotropes that are cylindrical, ellipsoid, or spherical in structure and have a hollow core. They encompass varying molecules, including atoms that are usually connected by single and double bonds, and their structures are considered similar to graphite. These carbon allotropes are currently synthesized by the arc methodology from fullerene-containing soot. They can also be produced by vaporizing solid graphite disk samples or carbon in a high-density helium flow through laser ablation. Fullerenes are stable, ferromagnetic, soluble in organic solvents, and possess superconductivity properties. Additionally, they exhibit antimicrobial properties and are used to design X-ray imaging contrasts, photodynamic therapies, and drug delivery systems. Apart from this, fullerenes are further employed in the fabrication of carbon nanotubes or cosmetic products and suppression of Human Immunodeficiency Virus (HIV) replications.

Fullerene Market Trends:

The increasing prevalence of various chronic diseases, especially amongst the geriatric population, has prompted the healthcare sector to widely adopt fullerene as an anti-inflammatory and radical scavenger, which is primarily driving the market growth. In line with this, the extensive product utilization in the cosmetic industry to formulate various personal care products, owing to their multiple dermatological benefits, is acting as another growth-inducing factor. Such solutions assist in eradicating various skin-related issues, preventing breakouts, tightening pores, reducing redness, preventing melanin formation, and enhancing skin texture. Moreover, the growing need for renewable energy sources on account of rising environmental concerns has prompted the uptake of fullerenes derivatives in organic photovoltaic (PV) cells and shaping solar energy systems as electron acceptors and donors, thus, propelling the market growth. Additionally, the escalating demand for spherical-shaped and water-soluble derivatives from the electronics, automotive, aerospace, and defense industries is favoring the market growth. Apart from this, ongoing research and development (R&D) activities to identify diverse product usage are creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 629.7 Million by 2027, growing at a CAGR of 6.3% during 2022-2027.

Market Summary

  • Based on the product, the market has been segregated into C60, C70, C76, and others.
  • On the basis of the shape, the market has been segmented into bucky balls, nanotubes (single- and multiple-wall), and nano-rods.
  • Based on the production method, the market has been categorized into CVD/CCVD process, arc discharge method, laser ablation of graphite, and others.
  • On the basis of the end use industry, the market has been divided into electrical and electronics, pharmaceuticals, medical, aerospace and defense, energy, and others.
  • On a regional basis, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and the Middle East and Africa.
  • The competitive landscape of the industry has also been examined, with some of the key players being ApNano Meterials Inc. (Nanotech Industrial Solutions), BuckyUSA, IoLiTec - Ionic Liquid Technologies GmbH, Mitsubishi Chemical Holdings, MTR Ltd., Nano-C, SES Research Inc. and TermUSA.

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Global Fullerene Market to Reach US$ 629.7 Million by 2027, Propelled by Increasing Usage as Anti-inflammatory and Radical Scavenger
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