Carbon Nanotubes Market to Be Driven by Increasing Demand for Its Various Properties in The Forecast Period Of 2023-2028
The new report by Expert Market Research titled, ‘Global Carbon Nanotubes Market Price, Trends, Growth, Size, Share, Report and Forecast 2023-2028’, gives in-depth analysis of the Global carbon nanotubes market size, assessing the market based on its segments like Product, Application, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028): –
- Forecast CAGR (2023-2028): 7 %
With opportunities in the electronics & semiconductors, advanced materials, chemical & polymers, batteries & capacitors, aerospace & defence, oil, and medical sectors, the future of the carbon nanotubes (CNT) industry looks promising.
The growing demand for carbon nanotubes due to its various properties, such as high thermal and electrical conductivity, high strength and elasticity in various end-use industries, is the key growth factor for this market.
Industry Definition and Major Segments
Carbon nanotubes are a class of minuscule carbon allotropes with nanometer-scaled dimensions. They are suitable for different industrial applications because of their electrical, thermal, and physical properties. CNTs have outstanding characteristics such as high tensile strength, effective electrical conductivity and are capable of withstanding high temperatures.
On the basis of Product, the industry is divided into:
- Single-Wall Carbon Nanotubes
- Multi-Wall Carbon Nanotubes
On the basis of Application, the industry is divided into:
- Electrical & electronics
On the basis of Region, the industry is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Carbon nanotubes are primarily used for applications in polymers, energy, electricity & electronics. In addition, for different applications, CNTs have a smaller diameter and superior electrical conductivity and have the potential to substitute steel. They are suitable for use in the manufacturing of turbine blades in the energy sector to increase mechanical efficiency, thereby increasing the service life of wind turbines.
The burgeoning electrical and electronics industries worldwide, coupled with an increasing penchant for renewable energy, would increase the market growth of carbon nanotubes during the review period. In addition, rising government measures to produce wind energy would further increase the demand for carbon nanotubes over the timeframe in question.
However, during the forecast period, the high cost associated with the manufacture of carbon nanotubes is likely to be a significant restraining factor. In addition, other factors limiting market growth are the existence of environmental legislation coupled with health consequences associated with prolonged exposure.
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Key Market Players
The major players in the market are Arkema SA, Nanocyl SA, Continental Carbon Nanotechnologies, Nanothinx S.A., Hyperion Catalysis International Inc., Klean Commodities, Future Carbon GmbH, Raymor Industries Inc., Hanwha Nanotech Corporation, Korea Kumho Petrochemical Company Ltd, Showa Denko K.K., CNano Technology Limited, Carbon Solutions, Nanoshel LLC and others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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