Global Carbon Nano Materials Market Projected To Hit $31.6 billion By 2031 | Growth With Recent Trends & Demand

Carbon nanomaterials have excellent electrical, chemical, thermal, and mechanical properties. Carbon nanomaterials have uses in energy storage and conversion, composite materials, sensors, field emission devices, drug delivery, and nanoscale electronic components. Fullerenes, carbon nanotubes (CNTs), graphene and its derivatives, graphene oxide, nanodiamonds, and carbon-based quantum dots are examples of carbon nanomaterials (CQDs).

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Carbon nanomaterials have piqued the interest of a wide range of industrial applications due to their unique structural dimensions and improved mechanical, electrical, thermal, optical, and chemical capabilities.
The global global carbon nano materials market was valued at $2.9 billion in 2021, and is projected to reach $31.6 billion by 2031, growing at a CAGR of 27.7% from 2022 to 2031.
Carbon nanoparticles are increasingly being used in the automobile industry for developing and producing car interiors and exteriors due to their excellent mechanical qualities and lightweight. In addition, they are widely used in automobiles to reduce aluminium engine weight, for improved grip and reduced rolling resistance, and in lithium-ion batteries to minimize charging time, increase tensile strength, and reduce vehicle weight. These factors are driving the global carbon nanomaterials market. However, growing concerns about the environmental impact of carbon nanoparticles have resulted in stricter regulations for carbon nanomaterials manufacturers.

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Key Market Players:
Hydale Graphene Industries Plc, Hyperion Catalysis International, Inc., DuPont, Jiangsu Cnano Technology Co., Ltd, MTR Ltd., Graphenea, G6 Materials Corp, Otto Chemie Pvt. Ltd, hollingsworth & vose, SES Research Inc, LG Chem Ltd, nanocyl sa, Nano-C, Arkema Group, Bayer AG

Carbon nanomaterial agglomerates pose a significant risk to humans and the environment. Carbon nanoparticles' harmful consequences on human health include an increased risk of high blood pressure, heart attacks, and kidney damage. They are fibrous in nature and, if inhaled, can cause health concerns.
These health risks can hinder the market expansion of carbon nanomaterials. Carbon nanomaterials are also being used in aerospace applications such as coatings, cockpits, crew equipment, space durable mirrors, nozzles, equipment enclosures, aircraft interiors, and solar array substrates creates many opportunities for the carbon nanomaterials market.

IMPACT OF COVID-19 ON THE GLOBAL CARBON NANOMATERIALS MARKET:
► The COVID-19 pandemic has affected the global imports and exports of several goods.
► Multiple governments have enacted export restrictions that have a considerable impact on supply.
► In addition, carbon nanomaterial makers are experiencing difficulties in getting raw materials, which causes further delays in shipments to customers.
► Furthermore, the quality of some raw materials has deteriorated significantly, and orders for shipments are being greatly impacted by the lack of boats and blank sails, which has a significant impact on the growth of the carbon nanomaterials market.
► As the industries that require carbon nanoparticles for producing products, including as automotive and aviation, are shutting down, the demand for carbon nanomaterials has declined dramatically, restricting the market growth of carbon nanomaterials during the pandemic.

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