(MENAFNEditorial)
Fast Market Research announces the availability of Technavio's new report "Global Fullerene Market 2015-2019" on their comprehensive research portal.
Fullerenes are a group of carbon molecules that are available in various forms such as ellipsoids spheres and hollow tubes. These nanoscale structures display unique thermal conductive and chemical characteristics by virtue of their physical structure and composition. Bucky balls CNTs and nanorods are some of the types of fullerenes of which CNTs are the most widely produced and consumed type. Most of these fullerenes are produced using easily available substrates such as graphite coal and hydrocarbon fuels.
Technavio's analysts forecast the global fullerene market to grow at a CAGR of 13.96% during 2014-2019.
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Commenting on the report an analyst from Technavio’s team said: “The use of fullerenes in medical and diagnostics applications is rapidly increasing and is driven by focused research of pharmaceutical majors. Apart from their use in drug delivery and cancer treatment they are increasingly being evaluated for use in bio implants. MWCNTs are used in the manufacture of polymeric nanocomposites that are used for orthopedic replacements. SWCNTs are widely used to make miniaturized sensors and nanomarkers in medical diagnostics. DNA-wrapped SWCNTs are placed inside living cells to detect deleterious contaminants using near-infrared spectroscopy. With increasing demand for novel treatments and drugs the field of nanotechnology will gain increased attention with fullerenes particularly SWCNTs and MWCNTs being evaluated for various new medical applications.”
According to the report the most important driving factor in the fullerene market is the increase in state funding for nanotechnology-focused R&D projects. Innovations in nanotechnology are spearheaded by various private and state-funded institutes that seek novel applications in the fields of medicine defense and aeronautics. Japan and the US are the leading nations in terms of total funded R&D expenditure. For instance the US federal budget of 2016 allocated more than $1.5 billion under the NNI to support innovation and R&D in the field of nanotechnology. This allocation takes the total cumulative investment of the state to $22 billion since 2001. Other federal agencies such as the NIH NSF DOE DOD and NIST also make large investments in the field of fullerenes and nanomaterial research. Similar investments are being observed in China and Japan where state-funded university research programs are making significant breakthroughs in exploring commercial applications for fullerenes.
Further the report states that because of the uncertain demand conditions and high bargaining power of buyers there is a growing conservatism of major buyers in terms of capacity expansion and this in turn is limiting the market growth.
The key players in the Global Fullerene Market are Arkema Bayer Material Science Mitsubishi Nano-C Nanocyl Showa Denko and Sigma-Aldrich while other prominent vendors include Alfa Aesar BuckyUSA EMFUTUR Technologies Io-li-tec Mer Holdings TDA Research Tokyo Chemical Industry and US Research Nanomaterials
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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