Endohedral Metallofullernes Market - Forecast(2023 - 2028)

Endohedral Metallofullerenes Market Overview

The Endohedral Metallofullerenes Market size is estimated to grow at a CAGR of 6.4% during the forecast period 2022-2027. The endohedral metallofullerenes (EMFs) are a novel class of metal-carbon hybrid molecules that consists of a metal core and a fullerene shell. The EMFs have clusters enclosed with metallic nitrides, carbides, metal sulfides, scandium oxide and others, which offer superior solid, structural and electronic state properties over other materials. The endohedral metallofullerenes have major demand in various sectors including optoelectronics, photovoltaics, nano-science and biomedical, which acts as a driving factor in the endohedral metallofullerenes market. In addition, the growing development in medical and biomedical technologies, flourishing radiobiology and other diagnosis systems are propelling the demand for endohedral metallofullerenes in the market. The covid-19 resulted in major growth hamper for the market due to restricted demand in major end-use industries, the burden on medical and healthcare systems, disruptions in the manufacturing trends and other lockdown regulations. However, a significant recovery in the market post-pandemic is boosting the demand for endohedral metallofullerenes for various applications, thereby is anticipated to boost the endohedral metallofullerenes market size industry during the forecast period.

Endohedral Metallofullerenes Market Report Coverage

The “Endohedral Metallofullerenes Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Endohedral Metallofullerenes Industry.

By Production Process: DC Arc Discharge and Laser Furnace
By Cluster Type: Metal Sulfides, Metallic Nitrides, Carbides and Oxides
By Application: Solar Cells, Magnetic Resonance Imaging (MRI), Antimicrobial Drugs, High-Density Storage Devices, Single-Molecule Magnets and Others
By End-Use Industry: Solar Energy, Electrical & Electronics, Medical & Healthcare (Therapeutics, Radiopharmaceuticals and Others) and Others
By Geography: North America (USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Belgium and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World (Middle East [Saudi Arabia, UAE, Israel and Rest of the Middle East] and Africa [South Africa, Nigeria and Rest of Africa])

Key Takeaways

• North America dominates the Endohedral Metallofullerenes industry, owing to the growing medical & healthcare industry and advancement in the production of endohedral metallofullerenes, thereby propelling the growth of Endohedral Metallofullerenes in this region.
• The growing medical & healthcare industry is propelling the demand for Endohedral Metallofullerenes for various applications involving biomedical devices, therapeutics, MRI and others, thereby contributing to the growing Endohedral Metallofullerenes market size.
• The flourishing demand for Endohedral Metallofullerenes in organic solar cells or photovoltaics applications in the solar energy sector is boosting the growth prospects in the endohedral metallofullerenes industry.
• However, the high costs and low availability associated with the Endohedral Metallofullerenes act as a major challenge for the industry.

Endohedral Metallofullerenes Market Segment Analysis – by Production Process

The DC arc discharge segment held the largest Endohedral Metallofullerenes Market share in 2021 and is forecasted to grow at a CAGR of 6.2% during the forecast period 2022-2027. The growth for DC electric arc discharge production method for endohedral metallofullerenes is high as this process is high-yield oriented, produces fullerenes in small quantities and is efficient over the laser furnace method. The arc discharge produces fullerenes using optimum electric arc parameters extracts and synthesis the metallofullerenes. Thus, owing to the high preference and applicability of the arc discharge method over other process methods, the DC arc discharge segment is anticipated to grow rapidly during the forecast period.

Endohedral Metallofullerenes Market Segment Analysis – by End-Use Industry

The medical & healthcare segment held a significant Endohedral Metallofullerenes Market share in 2021 and is forecasted to grow at a CAGR of 6.7% during the forecast period 2022-2027. The endohedral metallofullerenes have a growing demand in the medical and healthcare sector for various applications in biomedical devices, magnetic resonance imaging (MRI), drugs & medications and others. The medical and healthcare sector is significantly booming owing to growth factors such as development in health infrastructure, rising spending on biomedical healthcare technologies and increased age-related and emergency medical cases across the world. For instance, according to the International Trade Administration (ITA), the estimated pharmaceutical market size in Japan increased from US$108,260 thousand in 2019 to US$109,695 thousand in 2020. According to the Department of Pharmaceuticals, the Indian medical device sector is projected to reach US$50 billion by 2025. With an increase in medical & healthcare production and flourishing growth opportunities, the demand for the endohedral metallofullerenes for a wide range of applications in biomedical, MRI and others is projected to rise, which, in turn, propels the growth for endohedral metallofullerenes market size during the forecast period.

Endohedral Metallofullerenes Market Segment Analysis – by Geography

North America held the largest Endohedral Metallofullerenes Market share in 2021 up to 41% and is forecasted to grow at a CAGR of 6.8% during the forecast period 2022-2027. The robust demand and growth prospects for the endohedral metallofullerenes (EMFs), metal-carbon group, in this region are influenced by growing advancements in major end-use industries such as medical & healthcare and established industrial base for endohedral metallofullerenes. The medical and healthcare industry is growing rapidly owing to growth factors such as an increase in age-related health conditions, advancement in healthcare infrastructure and urbanization. For instance, according to the European Federation of Pharmaceutical Industries and Association (EFPIA), the North American region held the largest pharmaceutical sales at 49% in 2020. According to the Government of Canada, Canada’s medical device sector had an estimated value of US$7.5 billion in 2020, accounting for 1.8% of the global market. The United States held the world’s largest share of US$177 billion, with 42% in 2020-21. With the increasing medical & healthcare production and growth in North America, the demand for endohedral metallofullerenes in biomedical, therapeutics, drugs and others are rising, which, in turn, is anticipated to boost the endohedral metallofullerenes market size during the forecast period.

Endohedral Metallofullerenes Market Drivers

Bolstering Growth in the Solar Energy Sector:

The demand for Endohedral Metallofullerenes is growing rapidly for various applications in the solar energy sector for solar cells and photovoltaic devices. The clusters such as metal sulfides, scandium oxide, nitrides, carbides and other clusters in fullerene offer efficiency and high stability time in solar cells. The solar energy sector is significantly growing due to factors such as initiatives for renewable energy, demand for high electricity and a rise in solar plants and power installation. For instance, according to the International Energy Agency (IEA), the global power generation from solar PV increased by 156 TWh in 2020, showing a growth of 23% over 2019. Furthermore, the net solar PV additions in China increased from 30.1 GW in 2019 to 48.2 GW in 2020. Additionally, the solar photovoltaic capacity in the United States increased from 45% in 2020 compared to 2019. With the increase in solar power plant installation and the growing photovoltaics sector, the applicability of endohedral metallofullerenes in organic solar cells and other photovoltaic devices is growing, which, in turn, is driving the market and boosting the growth in the endohedral metallofullerenes industry.

Growing Electricals & Electronics Industry:

The Endohedral Metallofullerenes, a metal-carbon group has growing application in the electrical & electronics industry for semiconductors, optoelectronic devices and others. The electronics industry is rapidly rising owing to growth factors such as high demand and consumption of consumer electronic devices such as smartphones, rising income, digitalization and advancement in consumer electrical production. For instance, according to the OBERLO, the total revenue of consumer electronics in the US is expected to increase by 7.5% in 2023. According to the India Brand Equity Foundation (IBEF), Indian electronics production increased from US$29 billion in 2014-15 to US$67 billion in 2020-21. According to the World Semiconductor Trade Statistics (WSTS), the global semiconductor market is expected to grow by 16.3% in 2022. With the increase in electronics production, the demand for endohedral metallofullerenes in various optoelectronics and other applications increased, this, in turn, is driving the endohedral metallofullerenes market and boosting the growth opportunities.

Endohedral Metallofullerenes Market Challenges

High Prices & Low Availability of the Endohedral Metallofullerenes :

The Endohedral Metallofullerenes are high purity materials and have low availability across the globe. Various EMFs have toxic effects and require purification and synthesis, which is a time-consuming procedure. The high expenses associated with purification and synthesis procedures for the endohedral metallofullerenes create a rise in the final price for EMFs. Moreover, the low availability of metal-based fullerenes over basic carbon fullerenes worldwide, increasing-price and insufficient applications across major end-use industries also impact its demand and hinders its growth. Therefore, due to its increased costs and low availability, the endohedral metallofullerenes industry is anticipated to face a slowdown, growth hamper and challenge.

Endohedral Metallofullerenes Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Endohedral Metallofullerenes Market. The top 10 companies in Endohedral Metallofullerenes Market are:

1. American Elements
2. Frontier Carbon Corporation
3. Nano-C
4. MTR Ltd.
5. Designer Carbon Materials
6. Otto Chemie Pvt. Ltd.
7. Nanocyl SA
8. SES Research Inc
9. Merck KGaA
10. Mitsubishi Corporation

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