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Carbon Nanotubes Market is projected to grow at a significant CAGR of 14.1% during 2022-2029 | Size, Share, Growth & Report
Carbon Nanotubes Market
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/carbon-nanotubes-market/
The factors driving the growth of Carbon Nanotubes Market includes rising focus on utilizing renewable sources of energy, increasing application of a carbon nanotube in lithium batteries, chemical sensors and flat panel displays, growing popularity of electric vehicles and improvements in the living standards. According to the report published by Statista, the Global Lithium-Ion Battery Market was calculated around USD 30.2 billion in 2017 and is expected to reach USD 100.4 billion by the end of 2025, which will accelerate the Carbon Nanotubes Market size in the approaching years. Moreover, growing adoption of advanced technologies by manufacturers, enhanced electrical and mechanical properties of carbon nanotubes and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, strategic mergers and collaborations between key companies, rise in the launch of innovative products, expansion of the semiconductor industry and growing population growth rates, are further contributing towards the market growth.
However, growth of the Carbon Nanotubes Market is hindered due to strict regulation imposed by Government regarding the production of carbon nanotubes.
The prominent players operating in the market are Tokyo Chemical Industry Co. Ltd., Nopo Nanotechnologies, Hyperion Catalysis International, LG Chemical Limited, Cabot Corporation, Showa Denko K. K., Nanostructured & Amorphous Materials Inc., Jiangsu Cnano Technology Co., Ltd., Chengdu Organic Chemicals Co. Ltd., and CHEAP TUBES, among others.
Based on Type, the Multiple Walled Carbon Nanotube segment is predicted to capture the largest market share during the forecast period
Increasing apparition of Multi-Walled Carbon Nanotubes in conductive heating films, displays, chemical sensors and super batteries, owing to its enhanced tensile strength properties, is propelling growth of the segment.
Based on End-Use Industry, the Medical segment is projected to expand at a significant CAGR over the forecast period
Increasing application of carbon nanotube in cancer therapy, drug delivery and tissue regeneration, are pushing growth of the segment.
Based on Region, the Asia Pacific region is expected to grow at a remarkable CAGR during the forecast period
Government policies promoting the production of semiconductor, rapid economic growth across India, China, and Indonesia during the last decade, rising per capita incomes, high population growth rates and increasing emphasis on using renewable energy, are some of the important factors augmenting the market growth in Asia-Pacific region.
Key Developments
In March 2021, Cabot Corporation introduced ENERMAX™ 6 under its carbon segment with enhanced features like high aspect ratio. This product series will effectively improve battery performance at lower loadings, offering a higher energy density of batteries.
In 2020, LG Chemicals Limited decided to expand its carbon nanotube production capacity by 1200ton in South Korea.
Market Segmentation
Segmentation by Type
Single Walled Carbon Nanotube
Multiple Walled Carbon Nanotube
Segmentation by End-Use Industry
Electronics & Semiconductors
Chemical Materials & Polymers
Structural Composites
Energy & Storage
Medical
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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