(MENAFN- GlobeNewsWire - Nasdaq) New York, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fullerene Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028" -
In 2021, approximately 27% of respondents in the United States stated that their main reason for purchasing products that are environment-friendly or socially responsible is that they are better for the earth and the environment.
Fullerene is a fascinating class of carbon allotropes consisting of molecules composed entirely of carbon arranged in a closed cage-like structure with no internal bonds.These structures resemble soccer balls, consisting of 12 pentagons and varying numbers of hexagons, depending on the size of the molecule.
Fullerene molecules come in various sizes and shapes, with the most common being C60, C70, and C84.The C60 molecule, also known as buckminsterfullerene or "buckyball," is the most famous of the fullerene molecules.
It has a spherical shape and is composed of 60 carbon atoms arranged in a series of pentagons and hexagons.Fullerene molecules have a range of remarkable properties, making them useful in a wide range of applications.
For example, they have excellent electronic properties, making them useful in electronics and nanotechnology. They also have unique optical properties, with the ability to absorb light in the ultraviolet and visible range, making them useful in solar cells and photovoltaic devices.
Fullerenes are also used in the development of new materials, particularly in the field of nanotechnology.They can be used as building blocks for nanomaterials, as well as templates for the synthesis of other materials.
Fullerenes are also used in drug delivery systems, as their unique properties make them ideal for carrying drugs to specific cells or tissues.One of the most exciting applications of fullerenes is in the field of medicine.
Research has shown that fullerene molecules have antioxidant properties, which suggests they can offset harmful free radicals in the body. This makes them potentially useful in the treatment of diseases such as cancer, Alzheimer's disease, and Parkinson's disease.
The fullerene market has been growing steadily over the past few years, driven by increased demand from various industries, including electronics, aerospace, and healthcare. Fullerene is a unique class of carbon allotropes with a wide range of properties that make them suitable for various applications.
Fullerenes are used in electronic devices as a replacement for silicon, as they have better electrical conductivity and can operate at higher temperatures.Fullerenes are also used as nanomaterials in semiconductors and solar cells, as their unique properties make them ideal for these applications.
In the healthcare industry, fullerenes have been found to have antioxidant properties, making them useful for the treatment of various diseases.They are also used as drug delivery systems, as their unique properties allow them to be targeted to specific cells or tissues in the body.
The demand for fullerenes in the healthcare industry is expected to grow significantly in the coming years, driven by the increasing prevalence of chronic diseases and the need for more effective treatments.
Increasing Demand from Healthcare Electronics is Driving Market Growth
The electronics industry is the largest consumer of fullerene, accounting for nearly 40% of the market share.Fullerenes are used in electronic devices as a replacement for silicon, as they have better electrical conductivity and can operate at higher temperatures.
The growing demand for electronic devices, including smartphones, tablets, and laptops, is driving the demand for fullerene.
Fullerenes have been found to have antioxidant properties, making them useful in the treatment of various diseases.They are also used as drug delivery systems, as their unique properties allow them to be targeted to specific cells or tissues in the body.
The demand for fullerenes in the healthcare industry is expected to grow significantly during the forecast period, driven by the increasing prevalence of chronic diseases and the need for more effective treatments.
Growing Demand from Emerging Economies is Driving Market Growth
The fullerene market is expanding in emerging economies, particularly in Asia-Pacific, driven by the growing electronics and healthcare industries. The increasing demand for electronic devices and the need for more effective treatments for chronic diseases are driving the demand for fullerene.
Ongoing research aimed at discovering new applications of fullerenes is driving the market growth.The development of fullerene-based materials with improved properties is also driving market growth.
Companies are investing in research and development to improve production methods and reduce costs.
Fullerene-based materials have excellent mechanical properties, making them suitable for use in aircraft, satellites, and other space vehicles. The growing aerospace industry, particularly in Asia-Pacific, is driving the demand for fullerene.
Major Challenges Faced by Fullerene Market
One of the primary challenges facing the fullerene market is the lack of standardized testing and characterization methods.Fullerenes are complex molecules that come in many different sizes, shapes, and configurations, which makes it difficult to develop accurate and reliable testing methods.
This lack of standardization has made it challenging for researchers and industry experts to compare different fullerenes and assess their properties accurately. As a result, many potential applications for fullerenes remain unexplored, and the market has not yet reached its full potential.
Another significant challenge facing the fullerene market is the high cost of production.Fullerenes are currently produced using a variety of methods, including laser vaporization, arc discharge, and chemical synthesis.
However, all of these methods are relatively expensive and time consuming, which has reduced the availability of fullerenes and made them prohibitively expensive for many applications. As a result, the fullerene market has primarily been limited to niche applications such as research and development rather than large-scale commercial applications.
Moreover, the fullerene market faces significant regulatory hurdles.Fullerenes are a relatively new class of molecules, and their long-term effects on human health and the environment are still unknown.
As a result, many regulatory agencies have been hesitant to approve their use in commercial applications, which has limited their adoption and slowed market growth. Furthermore, the lack of clear regulatory guidelines has made it challenging for companies to invest in fullerene research and development, which has further constrained the market's growth potential.
The fullerene market faces intense competition from other advanced materials, such as graphene and carbon nanotubes.These materials have many similar properties to fullerenes, and they are often more straightforward to produce and use.
As a result, many companies have chosen to invest in these materials rather than fullerenes, which has limited the available resources and expertise for fullerene research and development.
Fullerenes face competition from other materials, such as carbon nanotubes and graphene, which have similar properties and are being developed for similar applications.
Recent Trends and Developments
Improved production methods: Companies have been investing in research and development to improve the production methods of fullerenes.One such development is the use of microwave-assisted heating for the synthesis of fullerenes, which is faster and more efficient than traditional methods.
This has led to a reduction in production costs and increased availability of fullerenes.
New applications: Research has led to the discovery of new applications of fullerenes.For instance, fullerenes have been found to be effective in improving the performance of lithium-ion batteries, which are used in electric vehicles and renewable energy storage.
Fullerenes have also been used in the development of biosensors and in cancer treatment.
Collaboration and partnerships: Companies have formed collaborations and partnerships to develop new applications of fullerenes.For example, a company partnered with a university to develop a fullerene-based material that can be used in electronic devices.
Another company collaborated with a research institution to develop a fullerene-based drug delivery system.
Patent filings: Companies have filed patents for new applications of fullerenes.For example, a company filed a patent for the use of fullerenes in the treatment of Alzheimer's disease.
Another company filed a patent for the use of fullerenes in the production of high-performance tires.
Market Segmentation
Global Fullerene Market is segmented based on type, end-user, and region.Based on type, the market is categorized into C60, C70, C76, and Others.
Based on end-user, the market is further bifurcated into electrical and electronics, pharmaceuticals, medical, energy, and others. Based on region, the market is divided into North America, Europe, Asia Pacific, South America, Middle East & Africa.
Market Players
Nano-C, SES Research Inc, Mitsubishi Chemical Corporation, Merck KGaA, MTR Ltd., Nanostructured & Amorphous Materials, Inc., Xiamen Funano Co., Ltd., Tokyo Chemical Industry UK Ltd, Sisco Research Laboratories Pvt. Ltd., and Otto Chemie Pvt Ltd are some of the key players of the Global Fullerene Market.
Report Scope:
In this report, Global Fullerene market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
. Fullerene Market, By Type:
o C60
o C70
o C76
o Others
. Fullerene Market, By End User:
o Electrical and Electronics
o Pharmaceuticals
o Medical
o Energy
o Others
. Fullerene Market, By Region:
o North America
United States
Mexico
Canada
o Europe
France
Germany
United Kingdom
Spain
Italy
o Asia-Pacific
China
India
South Korea
Japan
Singapore
o South America
Brazil
Argentina
Colombia
o Middle East & Africa
South Africa
Saudi Arabia
UAE
Competitive landscape
Company Profiles: Detailed analysis of the major companies present in Global Fullerene market.
Available Customizations:
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
. Detailed analysis and profiling of additional market players (up to five).
Read the full report:
About reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
MENAFN17082023004107003653ID1106876914
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.