Carbon Quantum Dots Market Outlook 2031
The Global Carbon Quantum Dots Market size was valued at USD 111.3 Million in 2022 and is projected to reach USD 1,697.5 Million by 2031, expanding at a CAGR of 36.8% during the forecast period. Carbon quantum dots (CQDs) are zero-dimensional (0D) quasi-spherical carbon nanomaterials with a size range from 1 to 10 nanometers (nm).
Carbon quantum dots, also known as carbon dots, (CDs, CQDs, or C-dots) possess similar physical properties and chemical structure as that of graphene oxide. CQDs were discovered accidentally during single-wall nanotube purification in 2004 and have been defined as quasi-spherical, discrete, highly fluorescent water-soluble nanomaterial. CQDs consist of carbon clusters with several other atoms, such as oxygen, nitrogen, phosphorus, and sulfur.
Carbon quantum dot is a class of carbon nanoparticles, which gained traction as a potential substitute to conventional semiconductor quantum dots, due to their excellent chemical stability, optical absorptivity, and facile synthesis. CQDs are quasi-spherical nanoparticles composed of amorphous to crystalline carbon bases. CQDs are the potential replacement for most of the metal-based quantum dots, which are toxic.
CQDs are used in several applications, such as medical diagnosis, biosensing, bioimaging, photocatalysis, photovoltaic devices, and chemical sensing. CQDs are synthesized by two routes, the top-down and bottom-up routes, such as ablation of a carbon target, chemical oxidation of soots, electrochemical oxidation of graphite rod, arc-discharge methods, microwave route, thermal route, and supported synthesis.
Macro-economic Factors
Impact of Carbon Pricing
Carbon pricing is considered one of the most effective and efficient strategies for governments and businesses to mitigate climate change. Putting a price on carbon pollution helps to account for the environmental impact of greenhouse gas (GHG) emissions. Setting an accurate price for carbon, encourages businesses, investors, and consumers to shift their preferences from carbon-intensive industries, practices, and processes to low-carbon, climate-resilient alternatives.
This leads to investment in modernization and innovation, which yield economic gain and competitive advantages; however, it also threatens business competitiveness. Carbon is the major element in CQD synthesis. Thus, carbon pricing significantly impacts the market.
Carbon Quantum Dots Market Dynamics
Driver: Increasing Demand from the Solar Industry
CQDs and their other variations, such as graphene quantum dots (GQDs) and nitrogen-doped carbon quantum dots (NCQDs), improve the performance of photovoltaic (PV) cells and luminescent solar concentrators (LSCs), due to their excellent optical properties. CQDs are transparent to visible light and have absorption/re-emission spectra that are easily controlled, due to fluorophores in LSCs.
The desired optical properties of CQDs make them suitable materials to substitute heavy-metal-based fluorophores that are expensive. Several CQDs have been used as or doped into the counter electrode, photoanode, electron transport layer (ETL), and hole transport layer (HTL) of organic solar cells (OSCs), dye-sensitized solar cells (DSSCs), perovskite solar cells (PSCs), and other PV cell configurations.
The addition of CQDs into the various solar cell components reduces electron recombination, increases charge density, and boosts electron mobility, enhancing the performance of the PV cells. Improving the power conversion efficiency (PCE) of photovoltaic devices is necessary in propagating green energy technology. Thus, CQDs offer a safe, environmentally friendly, and affordable method to advance the performance of photovoltaics.
Driver: Rising Demand from Biomedical Applications
Carbon quantum dots (CQDs) offer excellent solubility, eco-friendliness, desired optical characteristics, and low toxicity. The physiochemical properties of CQDs are controlled by their synthetic route. CQDs emit fluorescence in the range from the near-infrared (NIR) to the UV region, making them suitable for biomedical applications.
Fluorescence of CQD tuned by varying the excitation wavelength. CQDs are used in various applications, such as biosensing, bioimaging, drug delivery, electrochemical biosensing, photodynamic therapy in the treatment of cancers, gene delivery, treatment of inflammation, and pharmaceutical formulations.
Restraint: High Energy Consumption
Carbon quantum dots (CQDs) synthesis from renewable resources is a green approach. However, this method is typically accompanied by complex byproducts and high energy consumption, limiting the production of CQDs on a large scale.
High pressure, high temperature, and powerful oxidizing reagents usage are highly imperative for CQD production by a "bottom-up" approach to carbonize the sp3 carbon to carbon materials from small molecular precursors. Therefore, solvothermal and hydrothermal processes are utilized extensively in "bottom-up" approaches.
The "top-down" approach of CQD manufacturing involves deconstructing large carbon materials that contain many sp2 hybridized carbon molecules, using laser ablation, electrodeposition, and other energy-consuming methods. Apart from the high energy consumption in these methods, the extreme synthesizing settings raise issues, such as low productivity, as these methods convert the precursors into flammable by-products and reduce safety. Thus, hampering the CQDs market.
Opportunity: Increasing Research and Development Activities
Increasing investments, partnerships, and collaborations among industry players to capitalize on the growing demand for CQD-based products boosting research and development activities in the market.
Furthermore, advancements in nanotechnology and material science are anticipated to drive innovation and open up new avenues for CQD applications. This leads to advancements in CQDs fabrication and synthesis techniques, creating a lucrative opportunity in the market.
Scope of Carbon Quantum Dots Market Report
The report on the Global Carbon Quantum Dots Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Carbon Quantum Dots Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Type (Graphene Quantum Dots, Carbon Nanodots, and Polymer Dots), Form (Liquid and Powder), Application (Biomedical Application, Solar Cells, Supercapacitors, Catalysts, and Others), and Distribution Channel (Direct Sales (Manufacturer) and Sales Through Distributors)
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Regional Scope
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North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered
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QuantumDotz, American Elements, Ossila, Nanorh, NANOCHEMAZONE, CD Bioparticles, and Aritech Chemazone Pvt. Ltd.
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Carbon Quantum Dots Market Segmental Outlook
The global carbon quantum dots market is segmented based on type, form, application, and distribution channel.
Based on type, the global carbon quantum dots market is segmented into graphene quantum dots, carbon nanodots, and polymer dots. The graphene quantum dots segment is expected to dominate the market, owing to its varied range of applications and performance efficiency.
Graphene quantum dots (GQDs) are made of one or more layers of graphene sheets with lateral dimensions of 10 nm or less. GQDs exhibit extraordinary physicochemical properties, such as non-zero band gap, quantum confinement effects, and edge effects, which make them suitable for optical, energy, and electronic industries.
Carbon nanodots (CNDs) have gained traction in biomedical applications, owing to their distinctive qualities, such as high biocompatibility, good photoluminescence, stability, simple green manufacturing, and easy surface modification. CNDs are utilized in applications, such as biosensing, bioimaging, and treatment. CNDs are chemically inert, highly soluble in water, resist photobleaching, and low toxic.
Polymer cluster dots (CPDs) are still in the research phase and the complete properties are yet to be identified. CPDs are typically developed as a result of the partial carbonization of polymer clusters. CPDs have a hybrid structure of carbon/polymer with polymer chains or big functional groups on the surface and a carbon core. Monomers or linear polymers are used for synthesizing CPDs.
In terms of form, the market is categorized into powder and liquid. The liquid segment is expected to hold the major market share, as it maintains the stability of CQDs over longer periods compared to the powder form. The liquid has a catalytic effect on the CQDs, offering advantages, such as high quantum yield, uniform particle size, and very good fluorescence performance.
In terms of application, the global carbon quantum dots market is segmented into biomedical application, solar cells, supercapacitors, catalysts, and others. The biomedical application segment is expected to dominate the market during the forecast period. Carbon quantum dots (CQDs) are emerging as a promising nanomaterial for simultaneous drug delivery and bioimaging in cancer, due to their excellent properties, such as good photostability, small size, fluorescence emission, good biocompatibility, high water solubility, ease in surface functionalization, and low toxicity.
CQDS are being used in the dye-sensitized solar cell (DSSC)/quantum dot-sensitized solar cell (QDSSC) construction to enhance the device's performance resulting in high photo-conversion efficiency.
CQDs have superior optoelectronic properties, owing to the quantum confinement effect. CQDs gained significant traction and have shown great application potential as high-performance supercapacitor devices. CQDs boost the performance of supercapacitors with high energy density, good durability, and higher specific capacitance.
The presence of different functional groups, such as -COOH, -OH, and -NH2, on the surface of carbon quantum dots (CQDs) provides vigorous coordination sites to bind with transition metal ions. Doping CQDs with multiple heteroatoms further improves the catalytic activity by encouraging electron transfer through interior interactions. CQDs offer active catalytic reaction sites and favorable charge transfers during the catalytic process.
Based on distribution channel, the market is bifurcated into direct sales (manufacturer) and sales through sales through distributors. The sales through distributors segment dominates the market owing to the number of options they provide at competitive prices.
In direct sales, the manufacturer sells the product directly to the end-users without any intermediaries. This method is often used by companies that have a strong brand image and a loyal customer base. Direct sales allow manufacturers to have more control over the distribution process and to establish a direct relationship with their customers.
Sales through distributors involve the use of intermediaries between the manufacturer and the end-users. Distributors buy products from manufacturers and sell them to retailers or directly to the end-users. Distributors provide manufacturers with access to new markets and customers, as well as help them reduce their distribution costs.
Regional Outlook
Based on region, the global carbon quantum dots market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Carbon Quantum Dots market in North America is expected to held major market share due to the growing demand for efficient and environmentally friendly quantum dot-based materials, increasing adoption of CQDs in electronic and optoelectronic devices, and advancements in nanotechnology and material science.
Additionally, the quick adoption of quantum dots technology electronics in North America is also contributing to the market’s growth in the region.
Key Benefits for Industry Participants & Stakeholders
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In-depth Analysis of the Global Carbon Quantum Dots Market
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Historical, Current, and Projected Market Size in terms of Value
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Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
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Industry Drivers, Restraints, and Opportunities Covered in the Study
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Recent Industry Trends and Developments
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Competitive Landscape & Strategies of Key Players
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Neutral Perspective on Global Carbon Quantum Dots Market Performance
Segments
By Type
- Graphene Quantum Dots
- Carbon Nanodots
- Polymer Dots
By Form
By Application
- Biomedical Application
- Solar Cells
- Supercapacitors
- Catalysts
- Others
By Distribution Channel
- Direct Sales (Manufacturer)
- Sales Through Distributors
Key Market Players Profiled in the Report
- QuantumDotz
- American Elements
- Ossila
- Nanorh
- NANOCHEMAZONE
- CD Bioparticles
- Aritech Chemazone Pvt. Ltd.
Competitive Landscape
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Key players operating in the market are QuantumDotz, American Elements, Ossila, Nanorh, NANOCHEMAZONE, CD Bioparticles, and Aritech Chemazone Pvt. Ltd.
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Players are adopting various strategies, such as acquisitions, collaborations, and geographical expansion, for potential opportunities in the carbon quantum dots market.
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