Carbon Nanotubes (CNT) Market to Expand at a Robust CAGR of 15.9% from 2022 to 2029 In-depth Analysis of the Report by Data Bridge Market Research

Global Carbon Nanotubes (CNT) Market was valued at USD 876.00 million in 2021 and is expected to reach USD 2852.14 million by 2029, registering a CAGR of 15.9% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Carbon nanotubes are carbon molecules that are arranged in a tube-like configuration. These nanotubes offer superior properties that make them stronger than steel while also reducing their weight. These molecules are rolled up into single-walled or multi-walled cylinders, resulting in unpredictable properties.

Recent Development

In August 2020, ChemSpec North America signed a non-exclusive distribution agreement with Nanocyl SA of Belgium to promote and distribute Nanocyl's multiwall carbon nanotube ("MWCNT") products. ChemSpec will target the industrial manufacturing markets in both the United States and Canada. ChemSpec will concentrate its efforts on expanding the use of MWCNT in thermoplastic and elastomer compounding.

In March 2021, Cabot Corporation announced the debut of ENERMAXTM 6, a new product in its carbon segment. It has shown to be the most conductive multi-walled CNT product in the company's portfolio due to attributes such as high aspect ratio. This product series is expected to improve battery performance at lower loadings, allowing batteries to have a higher energy density.

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Some of the major players operating in the Carbon Nanotubes (CNT) market are:

LG Chem (South Korea)
Cabot Corporation (U.S.)
Showa Denko K.K. (Japan)
Jiangsu Cnano Technology Co., Ltd. (China)
Dupont (U.S.),
SOLVAY (Belgium)
DAIKIN (Japan)
Freudenberg SE (Germany)
Carbon Solutions, Inc. (U.S.)
OCSiAl (Luxembourg)
SABIC (Saudi Arabia)
Nanoshel LLC (U.S.)
Thomas Swan & Co. Ltd. (UK)
Nanothinx S.A. (Greece)
XinNano Materials, Inc. (China)
Continental Carbon Nanotechnologies, Inc. (U.S.)
KUMHO PETROCHEMICAL (South Korea)
Raymor Industries Inc. (Canada)
CHASM (U.S.)

Global Carbon Nanotubes (CNT) Market Scope

The carbon nanotubes market is segmented on the basis of method, type, technology, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Method

Chemical Vapor Deposition
Catalytic Chemical Vapor Deposition (CCVD)
High-Pressure Carbon Monoxide Reaction

On the basis of method, the carbon nanotubes market is segmented into chemical vapor deposition, catalytic chemical vapor deposition (CCVD), high-pressure carbon monoxide reaction

Type

Single-Walled Carbon Nanotubes (SWCNT)
Multi-Walled Carbon Nanotubes (MWCNT)
On the basis of type, the carbon nanotubes market is segmented into single-walled carbon nanotubes (SWCNT) and multi-walled carbon nanotubes (MWCNT).

Technology

Arc Discharge
Laser Ablation
CVD
Catalytic CVD
High Pressure Carbon Monoxide
CoMoCAT
Floating Catalyst

On the basis of technology, the carbon nanotubes market is segmented into arc discharge, laser ablation, CVD, catalytic CVD, high pressure carbon monoxide, CoMoCAT, floating catalyst and others.

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Application

Structural Polymer Composites
Conductive Polymer Composites
Conductive Adhesives
Fire Retardant Plastics
Metal Matrix Composites
Li-ion Battery Electrodes

Based on application, the carbon nanotubes market is segmented into structural polymer composites, conductive polymer composites, conductive adhesives, fire retardant plastics, metal matrix composites, li-ion battery electrodes and others.

End User

Aerospace and Defense
Chemicals and Polymers
Electronics and Semiconductors
Advanced Materials
Batteries and Capacitors
Medical
Energy

The end user segment for carbon nanotubes market is segmented into aerospace and defense, chemicals and polymers, electronics and semiconductors, advanced materials, batteries and capacitors, medical, energy and others.

Carbon nanotubes Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

High Demand Across End Users

The growing need for lightweight, low-carbon automobiles has significantly impacted the market for carbon nanotubes. In line with this, the high expansion of end-use industries such as electrical and electronics and automotive and increased product demand from application industries such as plastics, electronics, and energy storage are all contributing to the market's growth over the projection period.

Additionally, the rising polymer production on account of rising application scope of the construction and automotive industries are also positively impacting the growth of the carbon nanotubes market. The major factor accountable for the growth of the market is the growing use in electronic and storage devices. Additionally, the rising composite application in defense and automotive industry is projected to bolster the growth of the market.

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Opportunities

Surging Technological Advancements and Initiatives
Furthermore, rapid technological advancements and decreasing production cost, extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the growing government initiatives towards wind energy generation will further expand the future growth of the carbon nanotubes market.

Restraints/Challenges

Environmental, Health and Cost Issues
However, the rising environmental concern, as well as health and safety issues and producing high purity carbon nanotubes leading to increasing product cost, may act as key restraint toward carbon nanotubes market growth rate in the forecast period.

Regulatory Policies And Overhaul Services
The strict and time-consuming regulatory policies and overhaul services have the potential to challenge the growth of the carbon nanotubes market in the above-mentioned forecast period.

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