DUBLIN–(BUSINESS WIRE)–The “Fullerene Market – Growth, Trends, And Forecast (2019 – 2024)” report has been added to ResearchAndMarkets.com’s offering.
The market for Fullerene is anticipated to register a CAGR of 7.9% during the forecast period 2019-2024.
- Increasing demand for fullerenes from the pharmaceutical industry and growing demand for fullerene as an optical limiter are expected to drive the demand for the market during the forecast period.
- Demand for fullerenes from new applications such as additives, high-performance lubricants, Cytoprotector, etc., is likely to act as an opportunity for the market.
- Asia-Pacific dominated the market across the globe with the largest consumption coming from countries such as China, Japan, and India.
Major Market Trends
Increasing Demand for C-60 Fullerenes
- Buckyball or C60 are widely used in industries like medical, cosmetics, pharmaceuticals, and certain additives. Their shapes are roughly spherical similar to graphite with a surface net of carbon atoms connected in hexagonal and pentagonal rings. Fullerenes have very high oxidative properties, thermal stability and are a good electron acceptor.
- A water-soluble derivative of C60 is usually added to cosmetics which prevents skin damage from premature aging of the skin without any side effects from chemicals present in the cosmetics.
- The pharmaceuticals sector is the second-largest application segment for fullerene C60. The demand from developing economies, like China and India, is much more than the demand from developed countries, like the United States and the United Kingdom.
- C60 and its derivatives have grabbed quite a large attention due to their potential as antiviral agents. Perhaps the most exciting aspect of this may be their ability to suppress the replication of the human immune-deficiency virus (HIV), and thus, delay the onset of the acquired immune deficiency syndrome (AIDS). Dendro-fullerene 1 and Derivative 2, trans-isomer has been seen to inhibit the HIV protease, and thus, prevent replication of HIV 1.
- Currently, the bulk hetero-junction of the solar cell is widely finding usage with the fullerene derivate phenyl – C61 butyric acid methyl ester (PCBN) with high efficiencies. The more the demand for renewable sources of energy, more will be the production; thereby, simultaneously increasing the consumption of C60 and its derivatives.
- Additionally, the growing demand for high-performance lubricants from automotive, and stationary hydrogen engine applications are supporting the growth of fullerenes and derivatives during the forecast period.
Asia-Pacific Region to Dominate the Market
- With the growth of medical and pharmaceutical industries in the countries such as China, India, and Japan, the demand for fullerenes in Asia-pacific region is growing drastically.
- Over the next 20 years, China is expected to be the world’s largest single-country market for civil aircraft production. At present, the country is running 3,549 general aviation aircraft. Moreover, it is planning to manufacture more than 5,000 aircraft by 2020 under the strategic cooperation agreement between the Civil Aviation Administration of China (CAAC) and Commercial Aircraft Corporation of China Ltd. (COMAC).
- CAAC had also invested USD 14.4 billion in MIC2025 plan to establish Aero Engine Corporation of China (AECC), which will build the CJ – 1000A turbofan jet engine to power the C919. This is expected to boost the demand for semiconductors, thermally stable aerospace parts, and smart screens in the country.
- Boeing’s production facility expansion in Japan has a large effect on the export of aerospace parts, and combined with other international joint projects such as Boeing 777, 787 aircraft, and CF34, PW1100G-JM and other aircraft engines, the overall exports of parts has been increasing year by year.
- All the aforementioned factors coupled with government policies are expected to drive the demand for fullerenes through the forecast period in the region.
The fullerene market is highly consolidated with the top 10 players accounting for a major chunk of the market but no one holds a clear majority. Key players in the fullerene market include Nanotech Industrial Solutions, BuckyUSA, Mitsubishi Chemical Holdings, Nano-C, IoLiTec – Ionic Liquid Technologies, and other prominent players includes JenLaur, Luna Innovations, MTR, and MER Corporation.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Increased usage in Pharmaceutical Industry
4.1.2 Penetration in Surface Coatings Industry due to Strong Metal Matrix
4.1.3 Growing Demand of Fullerene as an Optical Limiter
4.1.4 Other Drivers
4.2 Market Restraints
4.2.1 High Manufacturing Complexity of Fullerene
4.2.2 Toxic Nano-Compounds Creating Environmental Pollution
4.2.3 Other Restraints
4.3 Value Chain / Supply Chain Analysis
4.4 Porters 5 Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 Price Trends
5 MARKET SEGMENTATION
5.1 Product Type
5.1.4 Other Product Types
5.2 End-user Industry
5.2.1 Electrical & Electronics
5.2.4 Aerospace & Defense
5.3.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 ASEAN Countries
126.96.36.199 Rest of Asia-Pacific
5.3.4 South America
188.8.131.52 Rest of South America
5.3.5 Middle East & Africa
184.108.40.206 Saudi Arabia
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ApNano Materials Inc.
6.4.3 Envie de Neuf
6.4.4 IoLiTec – Ionic Liquid Technologies GmbH
6.4.5 JenLaur Ltd.
6.4.7 MER Corporation
6.4.8 Mitsubishi Chemical Holdings
6.4.9 MTR Ltd.
6.4.11 Nanotech Industrial Solutions
6.4.12 SES Research Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Application in Perpetuating Life due to its Property of Reducing Oxidative Stress
7.2 Usage in Cosmetics as a Cytoprotector
7.3 Other Opportunities
For more information about this report visit https://www.researchandmarkets.com/r/d0lmtu
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Nanomaterials