Jun 5, 2023   SOURCE: BusinessWire

Global Carbon Nanotubes Market 2023 - 2028: Increasing Applications in Energy Storage Fuel the Sector - ResearchAndMarkets.com

The "Global Carbon Nanotubes Market: Analysis By Technology, By Type, By Application, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028" report has been added to ResearchAndMarkets.com's offering.

The market is anticipated to grow at a CAGR of approx. 15% during the forecasted period of 2023-2028. The global carbon nanotube (CNT) market was valued at US$5.72 billion in 2022. The market value is forecasted to grow to US$13.32 billion by 2028.

Carbon Nanotubes (CNT) are one dimensional allotropes of carbon made by rolled-up sheets of single-layer carbon atoms (graphene). Carbon nanotubes are composed of carbon atoms linked in hexagonal shapes, with each carbon atom covalently bonded to three other carbon atoms. The properties and applications of carbon nanotubes can vary depending on their type, diameter, length, and functionalization.

Rising global energy demand, ongoing advancements in material science and manufacturing technologies, increasing use of CNTs as conductive fillers in ESD materials, EMI Shielding, & electronics packaging, favourable government initiatives to reduce greenhouse emissions and promote renewable energy sources, etc., have been positively contributing towards increased demand for carbon nanotubes.

Other significant factor is ongoing technological advancements and innovations in the market by CNT manufacturing companies to remain competitive in the market and strengthen their current portfolios, while attracting new customers.

Key Players

  • Arkema Group (Arkema S.A.)
  • Resonac Holdings Corporation (Showa Denko K.K.)
  • LG Chem Ltd.
  • Cabot Corporation
  • Klean Industries Inc.
  • CHASM Advanced Materials, Inc.
  • OCSiAl; Raymor Industries Inc.
  • Raymor Industries Inc.
  • Chengdu Organic Chemicals Co. Ltd. (Timesnano)
  • Cheap Tubes Inc.
  • Hyperion Catalysis International, Inc.
  • Jiangsu Cnano Technology Co., Ltd
  • Nanocyl SA

Market Dynamics

Drivers

  • Rising Demand in Electrical, Electronics & Semiconductor Applications
  • Increasing Application in Energy Storage
  • Increasing Demand of CNTs in Renewable Energy and Water Treatment
  • Growing Demand of CNTs in Other End User Industries

Challenges

  • Growing Environmental and Safety Concerns
  • High Production and Manufacturing Cost

Market Trends

  • Increasing Integration of AI and ML
  • Rising Adoption of Electric Vehicles (EVs)
  • Emergence of Functionalized Carbon Nanotubes
  • Increasing Integration of Nanotechnology and Biotechnology

Market Segmentation Analysis:

  • By Technology: The report provides the bifurcation of the market into eight segments based on technology: chemical vapor deposition (CVD), arc discharge, laser ablation, floating catalyst, CoMoCAT, catalytic CVD, high pressure carbon monoxide, and others. CVD carbon nanotubes market is the largest segment of global CNT market, owing to commercial adoption of CVD by key players, rapidly expanding end user industries, rising demand from emerging application in areas such as plastic additives, medical implants, carrier tapes, coatings, elastomers, etc., and added advantages offered by CVD process in the form of scalability and control, versatile substrate compatibility, vertical alignment capability, etc.
  • By Type: The report provides the bifurcation of the market into two segments based on type: single walled and multi walled. Multi walled carbon nanotubes market is both the largest and the fastest growing segment of global CNT market, owing to rising adoption of electric vehicles, growing demand for advanced materials with improved performance & efficiency, increased advancements in material science, ongoing improvements in product quality and wide application of MWCNT in various end-use industries, such as medical & healthcare, electronics, automotive, aviation etc. SWCNT is currently used as a conductive additive for anode when applying silicon anode material. As such, SWCNT is a must in silicon anode materials. It is expected that growth potential of SWCNT conductive additive to stand out from 2023, as more vehicle types adopt silicon anode materials. SWCNT requires more advanced technology than MWCNT.
  • By Application: The report provides the bifurcation of the market into six segments based on application: semiconductor and electronics, structural composites, energy and storage, chemical and materials, medical and pharmacy, and others. Semiconductor and electronics carbon nanotubes market is the largest segment of global CNT market owing to increasing demand from various manufacturing industries, rising consumer awareness, growing demand of consumer electronics, digitalization, rising popularity of electric vehicles and increasing number of new startups & businesses in major emerging economies.
  • By Region: The report provides insight into the carbon nanotube market based on the regions namely, Asia Pacific, North America, Europe, and rest of the world. North America carbon nanotubes market holds the largest share of global carbon nanotubes market, owing to the presence of a large number of end user industries, ever-increasing demand for faster and newer electronic products from consumers, rapidly expanding healthcare sector, rising number of regulations imposed by government to promote green energy, and increasing use of CNTs in touchscreens and input devices such as robots, displays, and other electronic consumer goods, etc.

For more information about this report visit https://www.researchandmarkets.com/r/lpaa63

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.