Carbon Nanotubes Market Analysis by Size, Share | CAGR Value | Company Profiles | Carbon solutions Inc., Arry International Group Limited, Nanocyl SA, Showa Denko K.K., Hanwha Chemical Corporation

Global Carbon Nanotube Market including size, forecast, trend, share, growth, overview, key players, technologies ,Market drivers, challenges, standardization, regulatory landscape, opportunities, future roadmap, value chain, ecosystem player profiles and strategies forecast to 2022.

Market Insights

Carbon Nanotubes are a nascent technology which is gaining traction across various end-use industries due to its features such as the ability to bolster mechanical and tensile strength while remaining lightweight. A high amount of research and development has been going into the potential for applications of CNT in various industry verticals, thus facilitating rapid growth. Unrealized potential of this market is likely to boost its demand and create various opportunities for growth over the forecast period 2017 to 2023.

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Top Key Players

Arry International Group Limited, Nanocyl SA, Showa Denko K.K., Hanwha Chemical Corporation, Thomas Swan & CO. Ltd., NanoLab Inc., Kumho Petrochemical, Nanoshel LLC and OCSiAl

Market Research Future's report on carbon nanotubes indicates a high CAGR during the review period. With the global nanocomposites market expected to value $8.2 billion by the end of 2023, the market for CNT is also expected to grow proportionally.

Affordability of CNT have made it extremely popular with manufacturers, and the price for this technology is expected to reduce further in the coming years. CNT shows potential for semiconducting behavior which is likely to boost its use in the electrical and electronics industry during the forecast period thus facilitating robust market growth. Additionally, R&D on innovative applications for the product in the aerospace &defence industry, which is growing at a rapid pace, is expected to increase demand for CNT technology further. Other applications for CNT which will result in market growth include use in the development of efficient and affordable batteries & other fuel cells and for fortifying other materials such as polymers to create an overall stronger result.

High costs associated with the capital for setting up manufacturing and the complexity of manufacturing methods are expected to restrain market growth. However, the ongoing research and development of applications for CNT technology will mitigate these challenges and carve new channels for growth.

Market Segmentation

The global carbon nanotube market has been segmented by type, method, end-use industry and region.

Based on type, the market has been divided between single-walled carbon nanotube (SWCNT) and multi-walled carbon nanotube (MWCNT).

Based on method, the market has been broadly segmented to include arc discharge, laser ablation, chemical vapor deposition, and high-pressure carbon monoxide.

Based on end-use industry, the market has been segmented into aerospace & defense, electrical & electronics, automotive, energy, sports, and others.

Based on region, the global CNT market has been segmented into North America, Latin America, Europe, the Asia- Pacific, and the Middle East and Africa.

Regional Analysis

The Asia-Pacific accounts for nearly 45% of the total carbon nanotubes market with countries such as India, China and Japan leading market growth for the region. There is a strong presence of many market leader in the Asia-Pacific and the existence of electrical & electronic and automotive industries which are strong motivators for robust growth of the CNT market in this region.

North America follows, the Asia Pacific's lead with the second largest market share. This is due to the presence of rapidly growing aerospace & defense industry in the region. Moreover, the high demand for automotive and the presence of major automotive manufacturers in this region facilitate rapid growth of the CNT market.

Growing industrialization has made Latin America a region to watch, and it is expected to grow at a significant CAGR during the forecast period.

The Middle East and Africa are expected to see growth primarily in rapidly developing Middle Eastern countries which have increasing construction activities, thus motivating market growth.

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Latest Industry News

Jiaxing Huang, Professor of Materials Science and Engineering at Northwestern University has found a new method which uses an affordable solvent named cresol to prepare disperse CNT at higher concentrations than is usual. The findings indicate that the material has the potential to transform into a thick paste, then a freestanding gel before transitioning into a dough that can be kneaded for molding into desired shapes.

NASA is developing CNT technology for use in analyzing extra-terrestrial samples. Patterned nanotubes have been used to operate as electron emitters in a new instrument for the above-mentioned purpose. CNT technology is also being developed for a coating that absorbs stray light, which will protect sensitive instruments from contamination.

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This release was published on openPR.