Published Date : 21 Nov 19 | Views: 29 | Industry : Chemical & Material
Usage of C60 and its Derivatives for Skin Treatment Contribute to the Growth of C60 Segment
Based on the product, the global Fullerene market is segregated into C70, C60, and Others. C60 is also known as buckyball and has extensive usage in various industries such as pharmaceutical, medical, and cosmetic. A derivative of C60 is used to treat skin damage, aging, and is also used in cosmetics. Both C60 and other derivatives act as antiviral agents attracting attention from the health-care sector. Based on the application, the market is bifurcated into the catalyst field, electronic material field, and industrial material field.
High Demand for the Product in Medical, Defence, and Electronics Sector in Asia-Pacific Stimulates Market Growth
Due to a huge number of population in emerging markets of India and China, the medical and pharmaceutical sector is growing remarkably resulting in high demand for the product. Increasing investment in defense and high demand for high-end electronic products such as LCD TV, LED, and others is likely to have a positive influence on the growth of the market. China has largescale civil aircraft production, thereby widening the scope of the market, as Fullerene and its derivatives are used in the aviation and automotive industry as lubricants.
High Competition Between Leading Players to Propel Market Growth
Some of the major
companies operating in the market are Frontier Carbon Corporation, BuckyUSA,
Tokyo Chemical Industry (TCI), MER Holdings, EMFUTUR Technologies, TDA
research, Limited Liability Scientific and Production, Mitsubishi Chemical
Holdings, and Nano. Top companies are engaged in competition and the market is
highly consolidated with leading players accounting for a significant share of
Various Advantages Associated with Fullerene Propel the Growth of the Market
Fullerene has extensive applications in various industries such as automobile, electronics, defense, aviation, and energy. It is considered as a choice for steel or any metal and has important characteristics such as better conductivity and high-temperature range. It also exhibits extraordinary strength on account of close bonding between the atoms making it more than 5 times stronger than other conventional metals. All these factors are creating robust growth of the global Fullerene market.
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