Fullerene Market Size (2024 - 2029)

Fullerene Market Analysis

The Fullerene Market size is estimated at USD 546.35 million in 2024, and is expected to reach USD 839.47 million by 2029, growing at a CAGR of 8.97% during the forecast period (2024-2029).

The market was negatively impacted by the lockdowns caused by Covid-19 in the year 2020. However, in the past two years, the market has gained momentum and is showing signs of recovery.

• Increasing demand for fullerene from the pharmaceutical industry, penetration in the surface coatings industry due to strong metal matrix, and growing demand for fullerene as an optical limiter are expected to drive the demand for the market, during the forecast period.
• However, the high cost and complex production associated with endohedral fullerenes and toxic nano-compounds creating environmental pollution will hinder the market growth during the forecast period.
• Growing application in perpetuating life due to its property of reducing oxidative stress and usage in cosmetics as a cytoprotector are likely to act as an opportunity for the market over the forecast period.
• Asia-Pacific dominated the market across the world, with the largest consumption coming from China, Japan, and India.

Fullerene Industry Segmentation

Fullerene also called buckyballs is an allotrope of carbon wherein its molecules consist of carbon atoms that are connected by single and double bonds. The fullerene market is segmented by type, end-user industry, and geography. By type, the market is segmented into C60, C70, C76, and other product types. By end-user industry, the market is segmented into electrical and electronics, medical and pharmaceuticals, aerospace and defense, energy, and other end-user industries. The report also covers the market size and forecasts for the fullerene market in 15 countries across the major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD).