Buckminsterfullerene Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3708
Buckminsterfullerene Market size may witness a substantial growth during the forecast period led by rapid growth in pharmaceutical industry owing to rising chronic diseases and advent of new technologies. Increasing applications of the product in pharmaceutical industry as it act as an antioxidant and utilize free radical which may foster the buckminsterfullerene market demand.
Buckminsterfullerene also known as bucky balls is a fullerene with a chemical formula of C60. It has a cage like fused carbon ring structure known as truncated icosahedron which resembles like a football. It is formed by 12 pentagons and 20 hexagons, with a carbon atom on each vertex having two single bond, one pi bond and a bond beside each polygon edge. It is produced by vaporizing carbon in an inert atmosphere to get a black soot which is then purified to get different types of fullerene.
Growth in chronic diseases owing to rapid increase in pollution and unhealthy lifestyle may drive the buckminsterfullerene demand in pharmaceutical industries. It is used as an anti-inflammatory agent to cure lung and arthritis inflammation owing to its superior properties such as antioxidant and ability to scavenge free radicals which causes inflammation, thereby driving the buckminsterfullerene market demand.
Increasing beauty trends and growing disposable income may drive the cosmetic industry growth. The global skin care market is likely to surpass USD 180 billion by the end of 2024. Buckminsterfullerene is used in skin care products like anti-ageing and skin repairing creams owing to its benefits which includes potent scavenging ability to eradicate free radical oxygen species (RAS) which in turn aid in skin rejuvenation. It also provides antioxidant properties to restore skin cells, which may drive the overall buckminsterfullerene market growth.
Buckminsterfullerene is widely used in electronics devices owing to its low reorganization energy which makes it an ideal acceptor molecule in organic electronics. With appropriate doping it works as an excellent n type semiconductor (with a band gap of 2.3ev), making it available to be utilized with p type semiconductors in organic semiconductors. The product is used to make transistors suitable for use in inert atmosphere. Global semiconductor market accounted at over USD 475 billion in 2018. Increasing applications of semiconductors in electronic devices and continuous improvement in fabrication technology may foster the buckminsterfullerene market growth.
North America driven by Canada, Mexico and the U.S buckminsterfullerene market size may account a substantial growth by the year 2025. Increasing demand for anti-allergic drugs owing to increasing trends for allergic chronic diseases like asthma and hay fever may drive the product demand. Every year more than 50 million Americans suffered from allergic disease. Buckminsterfullerene inhibits allergic reaction in human body owing to its function to block the pathway of mast cells which are responsible for allergic reaction thereby driving the regional market growth.
Europe led by Italy, UK, Spain, France and Germany Buckminsterfullerene market demand should witness significant gains during forecast period. Growing trends towards cosmetic products owing to upsurg demand in skin care products to avert skin ageing among youngsters is likely to drive the market size. In 2018, skin care products sales accounted at over USD 30 billion in Europe. Buckminsterfullerene act as an anti-ageing agent in skin care products to prevent premature ageing and aids in skin repairing, thereby driving the regional product demand.
Asia pacific driven by South Korea, India, Japan and China buckminsterfullerene market size is likely to increase during the forecast period. Rising demand for non-conventional energy sources which include solar cells may drive the industry growth. Indian government is aiming to achieve the target of 100 GW solar energy by the year 2022. Buckminsterfullerene combined with nanotubes and polymers is utilized to produce inexpensive solar cell paint that can convert any surface into solar cell just by applying paint on it. Moreover, buckminsterfullerene is also utilized in the formation of n-type semiconductor which forms organic field effect transistors (OFETS) thereby driving the regional market size.
Buckminsterfullerene market is fragmented. Companies such as Nano-C, BuckyUSA, Apnano, SES research, Nanografi Nanotechnology, IoLiTec nanomaterials, Tokyo chemical industry, EMFUTUR Technologies and Frontier Carbon Corporation are the key players driving the market.
By Application, 2014-2025 (Tons) (USD Million)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- SES research
- Nanografi Nanotechnology
- IoLiTec nanomaterials
- Tokyo chemical industry
- EMFUTUR Technologies
- Frontier Carbon Corporation
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