Use in Electronics Applications to Push the Global Carbon Nanotubes Market to Garner $18.76 billion by 2028

According to an analysis by Triton Market Research, the global carbon nanotubes market, which was valued at $5.20 billion in 2019, is anticipated to display a CAGR of 15.31% by 2028.

A study by Triton Market Research with the title ‘Global Carbon Nanotubes Market,’ covers the Global Analysis and Forecast for 2019-2028 by Product Type (Single-Walled Carbon Nanotubes, Multi-Walled Carbon Nanotubes, Other Product Type), by Application (Fire Retardant Plastics, Conductive Adhesives, Conductive Polymer Composites, Structural Polymer Composites, Li-on Battery Electrodes, Metal Matrix Composites, Other Applications), by Verticals (Automotive, Textiles, Energy, Aerospace & Defense, Electronics, Healthcare, Other Verticals), and by Geographical Region (Latin America, Asia-Pacific, Europe, North America, Middle East and Africa).

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According to the report, the global carbon nanotubes market is expected to generate a revenue of $18.76 billion by the year 2028. Besides, the market is likely to progress with a CAGR of 15.31% in the forthcoming period between 2019 and 2028.

Carbon nanotubes refer to allotropes of carbon with a cylindrical nanostructure. They find applications in electronic circuits to improve the electrical & thermal conductivity and enhance the shelf life of electronic materials.

The growing potential of CNTs in electrical and electronics applications is driving the growth of the global carbon nanotubes market in the forecasted period. They find applications in electrical and electronics applications like sensors, photovoltaics, semiconductor devices, conductors and displays. They are also used in the manufacturing of transistors & touchscreens, chemicals & polymers and batteries & capacitors applications. However, the high manufacturing and processing cost is impeding the global market growth.

The carbon nanotubes market is segmented as product type, application and verticals. The first segment, product type, includes single-walled carbon nanotubes, multi-walled carbon nanotubes and other product type. The second segment, application, is sub-segmented into fire retardant plastics, conductive adhesives, conductive polymer composites, structural polymer composites, Li-on battery electrodes, metal matrix composites and other applications. The last segment, verticals, include automotive, textiles, energy, aerospace & defense, electronics, healthcare and other verticals.

The Asia-Pacific is predicted to be the fastest-growing region in the global carbon nanotubes market over the projected period. The region is also estimated to generate the highest revenue in the carbon nanotubes market during the forecasted years. South Korea is one of the leading producers and exporters of electronic products in the world. The presence of the leading players like Samsung Electronics and LG Electronics is primarily driving the growth of the studied market in the upcoming years.

The consumer electronics market in the country is expected to project a reasonably modest growth rate. Besides, it ranks second among the leading semiconductor manufacturers across the globe. It is also a dominant producer of memory chips. Carbon nanotubes could offer immense benefits over rigid silicon, owing to its qualities like low cost, large-area fabrication, low power and roll-to-roll production.

A few prominent names in the carbon nanotubes market are Nanoshel LLC, Raymor Industries Inc, Showa Denko KK, Hyperion Catalysis International, Nanocyl SA, Chengdu Organic Chemicals Co Ltd, OCSiAl, Carbon Solutions Inc, Thomas Swan & Co Ltd, Nano-C, Hanwha Group, Cheap Tubes, Arkema, Kumho Petrochemical, Meijo Nano Carbon, NanoLab Inc, CHASM Advanced Materials, Zeon Corporation, Jiangsu Cnano Technology Co Ltd and Toray Industries Inc.

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Question & Answer: Carbon Nanotubes Market

Question 1: Which factor is driving the growth of the carbon nanotubes market?
Answer: The growing potential of CNTs in electrical and electronics applications is driving the growth of the global carbon nanotubes market in the forecasted period. They find applications in electrical and electronics applications like sensors, photovoltaics, semiconductor devices, conductors and displays. They are also used in the manufacturing of transistors & touchscreens, chemicals & polymers and batteries & capacitors applications.

Question 2: What factor is impeding the global carbon nanotubes market growth?
Answer: The high manufacturing and processing cost is impeding the global market growth.

Question 3: In which way is Asia-Pacific influencing the global carbon nanotubes market outlook?
Answer: The Asia-Pacific is predicted to be the fastest-growing region in the global carbon nanotubes market over the projected period. The region is also estimated to generate the highest revenue in the carbon nanotubes market during the forecasted years. South Korea is one of the leading producers and exporters of electronic products in the world. The presence of the leading players like Samsung Electronics and LG Electronics is primarily driving the growth of the studied market in the upcoming years.

The consumer electronics market in the country is expected to project a reasonably modest growth rate. Besides, it ranks second among the leading semiconductor manufacturers across the globe. It is also a dominant producer of memory chips. Carbon nanotubes could offer immense benefits over rigid silicon, owing to its qualities like low cost, large-area fabrication, low power and roll-to-roll production.

Question 4: Which are a few prominent names in the carbon nanotubes market?
Answer: A few prominent names in the carbon nanotubes market are Nanoshel LLC, Raymor Industries Inc, Showa Denko KK, Hyperion Catalysis International, Nanocyl SA, Chengdu Organic Chemicals Co Ltd, OCSiAl, Carbon Solutions Inc, Thomas Swan & Co Ltd, Nano-C, Hanwha Group, Cheap Tubes, Arkema, Kumho Petrochemical, Meijo Nano Carbon, NanoLab Inc, CHASM Advanced Materials, Zeon Corporation, Jiangsu Cnano Technology Co Ltd and Toray Industries Inc.

Related Report:
Global Quartz Market

The Global Quartz Market is estimated to generate $9.91 billion by the year 2028, displaying a CAGR of 4.94% over the projected years 2019-2028.

The manufacturing of silicon metal contains quartz as a raw material. This metal is used in photovoltaic solar cells for solar energy production. The solar industry is a major consumer of crucibles and glassware in PV production. Since the cost of solar applications is on a decline, the industry is becoming more viable across the globe. Approximately 15 kg of pure quartz is required in the production of one kg of silicon. Therefore, the growing solar industry is anticipated to drive the global quartz market growth over the upcoming years.

Quartz also possesses some optical properties, and hence it is majorly used in the field of optics. It is scientifically used as an optical window, optical filter, prism and timing device. High-quality quartz is used in lenses and prisms in optical instruments. Quartz glass also finds its applications in high-end optical lenses, owing to its precise UV transmission. Optical lenses are used in different applications, like industrial optics, scientific research, medical equipment and consumer lenses. Due to the rising applications, the market is expected to grow even further.

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This release was published on openPR.