Fullerene Market Synopsis
According to the MRFR analysis, the
Global Fullerene Market is estimated to exhibit a CAGR of 15%
Fullerene is an allotropic form of
carbon and is made of hollow cage structure. Fullerene finds a wide range of
applications in cosmetics, renewable energy, automotive, electronics, and
semiconductor industries. The wide application of fullerene is owing to its
high antioxidant characteristic, unique molecular structure, biocompatibility,
and anti-aging properties. Moreover, owing to its cage-like structure fullerene
is used as a drug delivery mechanism. Endohedral fullerene is carbon fullerene
having additional ions, atoms, or clusters enclosed within their inner spheres.
Pricing and Regulatory Analysis
The fullerene price varies from USD
50 to 80 per gram. The variation in price is associated with purity. The high
cost of fullerene is attributed to expensive production methods and
unavailability of bulk production method.
Currently, there are no regulations
governing the production and use of fullerene. However, according to Globally
Harmonized System of Classification and Labelling of Chemicals (GHZ) fullerene
is classified as H228 (flammable solid) and H315-H319 (causes skin irritation
and serious eye irritation).
Get a Sample Report on Fullerene Industry Market https://www.marketresearchfuture.com/sample_request/8343
Segmentation
By Type
C60: C60 fullerene is most widely
used in cosmetics, pharmaceuticals, and semiconductor applications. The segment
accounted for more than 60% share in 2018 and is projected to register highest
growth owing to wide range of applications.
C70: It is mainly used as organic
photovoltaics (OPV), catalysts and antioxidants. This segment is expected to
witness high growth owing to increasing solar PV installations in China, India
and the Middle East & African countries.
Others: The others segment is
expected to witness a moderate growth owing to niche applications in
pharmaceuticals and cosmetics applications. This includes higher fullerenes
such as C240, C540, and C720.
By Application
Pharmaceuticals: Largest application
segment and high growth owing to increasing usage in the pharmaceuticals
industry owing to its unique molecular structure, antioxidant effect, and
biological compatibility. Furthermore, the increasing use of fullerene for
cancer treatments and usage as a drug delivery system is expected to boost the
segment’s growth during the forecast period.
Cosmetics: The segment is expected to
be the fastest-growing in the market. Fullerene owing to its antioxidant
characteristics is used as an anti-aging and anti-damage agent in the cosmetic
sector. Owing to increasing disposable income, changing lifestyle and rapid
urbanization the cosmetic industry is witnessing a robust growth thereby
driving the growth of fullerene in the market. Moreover, increasing demand for
male grooming products particularly in emerging market is surfacing new growth
platform for the market during the forecast period.
Renewable Energy: Increasing
investment in the development of renewable energy across the globe is driving
the growth of the segment. The use of fullerene as organic photovoltaic
materials help in high energy harvest in the solar photovoltaic units. The
Chinese government has set plans to install 105 GW of solar capacity by 2020,
and the Indian Government has set a target to install 100 GW of solar capacity
to be achieved by 2022. Fullerene is also used PEM Fuel Cell application to be
used in automotive and portable power applications. The robust growth of
hydrogen fuel cell vehicle across the US and Europe is also augmenting the
market growth.
Electronics: In electronics industry
fullerene is used in the manufacturing of semiconductors and sensors.
Others: The segment includes
catalysts, water purification, and lubricants. The increasing research and
development in the fullerene market are
expected to widen the scope of application.
By Region
North America: Market growth in the
region is driven by increasing investment in the medical field and well
established cosmetic and electronics industries.
Europe: The largest regional market.
Increasing research & development in the region is augmenting the market
growth.
Asia-Pacific: The fastest-growing
regional market, owing to booming cosmetic and pharmaceuticals industry in
countries such as China and India.
Latin America: The high growth of the
market is attributed to the booming cosmetic industry and economic growth.
Middle East & Africa: Growing
cosmetic industry and solar power installation in the region.
Get More Professional and Technical Industry Insights @ https://www.marketresearchfuture.com/reports/fullerene-market-8343
NOTE: Our Team of Researchers is
Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of
Market and Industries. Cordially get in Touch for More Details.
About
Market Research Future:
At Market Research Future
(MRFR), we enable our customers to unravel the complexity of various
industries through our Cooked Research Report (CRR), Half-Cooked Research
Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and
Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market
research and intelligence services to our clients. Our market research studies
by products, services, technologies, applications, end users, and market
players for global, regional, and country level market segments, enable our
clients to see more, know more, and do more, which help to answer all their
most important questions.
Contact
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
No comments:
Post a Comment