YH Research projects growth in NMN and CFx battery markets

YH Research has released two industry reports detailing growth projections for the Nicotinamide Mononucleotide (NMN) and carbon monofluoride (CFx) battery markets through 2032.

The NMN market, driven by interest in NAD+ metabolism and healthy aging, is projected to grow from approximately US$190.09 million in 2025 to US$381.98 million by 2032, representing a CAGR of 9.15%. The market is characterized by high concentration, with the top five companies expected to hold roughly 80.84% of the market share. High-purity β-NMN for healthcare and research remains the dominant product segment.

Separately, the global carbon monofluoride battery market is forecasted to expand from US$230.06 million in 2025 to US$587.67 million by 2032, with a CAGR of 13.63%. Demand is fueled by the expansion of IoT devices, smart meters, and specialized requirements in the aerospace, defense, and medical implant sectors. The market is also highly concentrated, with the top five players accounting for about 78% of sales in 2025.