Market Overview
The Carbon Nanotubes Market is expected to grow at a high CAGR of 19% during the forecast period (2021-2028)
Carbon nanotubes (CNTs) are an allotrope of carbon. They appear as round and hollow carbon particles and have novel properties that make them conceivably valuable in a wide assortment of utilizations in nanotechnology, hardware, optics, and different fields of materials science. Carbon nanotubes (CNTs) have been pulled into tremendous consideration in the course of recent decades, in view of their phenomenal physical and concoction properties that are a consequence of their inherent nano-sized one-dimensional nature.
The worldwide carbon nanotubes showcase is expanded because of the presence of endless local players. The tremendous interest from the buyers and absence of separation among items from various makers opens entryways for new players. With huge potential to develop, numerous youthful organizations are entering the worldwide carbon nanotubes advertise market.
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Market Dynamics
Advantages due to physical properties, potential to replace other materials and rise in production capacities are key drivers for the market growth. Multiple advantages are applicable because of the physical structure and its properties. The structure of CNT is closely related to graphite, which is traditionally made by stacking sheets of carbon on top of another. This structure offers extraordinary electrical, mechanical, optical, thermal, and chemical properties to CNTs. Being a carbon-based product, CNTs are not vulnerable to environmental or physical degradation issues. Due to this advantage, CNTs are in high demand and are used in multiple applications such as medicine, aerospace and defense, electronics, automotive, energy, construction, and sports.
CNTs have the potential to replace the key materials in some industries such as semiconductors and energy. Research centers are developing CNTs that can be used in solar cells as an alternative to silicon, which is the key material used in producing electricity from solar energy. CNTs have the potential to replace indium-tin-coated films, which are fragile and expensive. These films are used in liquid crystal displays (LCDs), solar cells, organic light-emitting diodes(LEDs), touch screens, and high-strength materials like bullet-proof vests and hydrogen fuel cells used to power cars. The potential to replace such vital materials is expected to drive the demand for CNTs during the forecast period.
Market Segmentation
By Product Type
Single-walled Carbon Nanotubes (SWCNT)
Multi-walled carbon nanotubes (MWNT)
By Application
Energy
Electronics
Aerospace & Aviation
Automotive
Biomedicine
By Region
North America
South America
Europe
Asia Pacific
The Middle East and Africa
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Competitive Analysis
Some of the key market players in the global carbon nanotubes market are Showa Denko K.K., Nanocyl SA, CNano Technology Ltd., Arkema Inc., Hyperion Catalysis International Inc., Hanwha Chemical Corp., Kumho Petrochemical Co., Ltd., Toray Industries, Inc. Carbon Solutions, Inc. and Cheap Tubes, Inc.
In October 2018, Envigo, an independent European research laboratory, has conducted studies on possible ecotoxic effects of TUBALL single-wall carbon nanotubes, produced by OCSiAl. It is a one-atom-thick sheet of graphene that is rolled into a tube: this type of nanotube possesses a number of exciting properties, including high flexibility, that is far superior to those of multi-wall carbon nanotubes or carbon fibers.
In June 2018, Grace Continental Korea expanded its line of nanotube-based concentrates and launch the production of TUBALL MATRIX single-wall carbon nanotube-based concentrates specifically for application in silicones and for composites, coatings, and resins.
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