Carbon Nanotubes Market Global Size, Growth, Trends and Demand with Outlook 2021-2030

The Global Carbon Nanotubes Market size is estimated to be USD 2.19 billion in 2019 and is predicted to reach USD 9.45 billion by 2030 with a CAGR of 14.2% from 2020-2030.

Carbon nanotubes (CNT) are the carbon allotropes which are valuable for nanotechnology, optics, electronics, and other fields of materials science and technology. CNT’s are used as the antennas for the radio and other electromagnetic devices. The usage of nanotubes improves electrical and thermal conductivity as they stretch through the plastic matrix of the brush. Moreover, they replace traditional carbon black.

CNT’s are widely seen as a material with extensive potential for applications based on their electronic structure and one-dimensional geometry. They can also act as a catalyst in a fuel cell, avoiding the use of expensive platinum on which most catalysts are based. CNT is majorly used as composite fiber in polymers for improving electrical, thermal, and mechanical properties of bulk products. CNTs and their derivatives show excellent electrical properties for use in materials such as polymers and reinforcement. These provide lucrative potential for use in electricals and electronics applications such as sensors, photovoltaics, semiconductor devices, conductors, displays, and others.

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Competitive Landscape:

Comprehensive competitive analysis and profiles of major market players such as Arkema S.A., Carbon Solutions Inc., Arry International Group LTD., Cheap Tubes Inc., Ocsial Llc, CNT Co., Ltd., Hanwha Chemical Corp., Cnano Technology Ltd., Nano-C Inc., Toray International Group Limited, Continental Carbon Company, and Showa Denko K.K., is also provided in the carbon nanotubes market report.

Market Dynamics and Trends:

Rising application scope of CNT in various end-use industries including electronics, polymers, energy, aerospace, marine, and automotive is projected to boost the market growth during the forecast period. Moreover, government of various countries such as the U.S., China, India, and Japan have increased funding aimed at promoting the nanotechnology which is anticipated to open new avenues for the carbon nanotubes market growth in the coming years. However, rising environmental concerns and healthy & safety issues is hampering the market growth. Single Walled Carbon Nanotubes (SWCNT) segment within the product is anticipated to grow with the highest CAGR during the forecast timeframe. Additionally, polymers segment within the application accounted the largest market share and projected to continue the dominance in the upcoming years.

Rising penetration of a large number of companies in emerging economies for the production of CNT at low prices is projected to increase market competitiveness. Product innovation through increased Research and Development expenditure is projected to remain a key critical success factor for the market growth in the upcoming years. However, high manufacturing cost is anticipated to remain a key challenge for the carbon nanotubes market players.

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Market Segmentations and Scope of the Study:

The carbon nanotubes market share is analysed on the basis of product, application, and geography. On the basis of product, the market is segmented into Single Walled Carbon Nanotubes (SWCNT) and Multi Walled Carbon Nanotubes (MWCNT). According to the application, the market is classified into the polymers, energy, and electrical & electronics. The geographical segment of the advanced ceramics market covers North America, Europe, Asia Pacific, and Rest of the World.

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