Carbon Nanotubes (CNT) Market worth $2.3 billion by 2028 | Key players Timesnano (Chengdu Organic Chemicals Co. Ltd.) (China), Nanocyl SA (Belgium), Arkema SA (France).

According to recent market research the "Carbon Nanotubes Market by Type (Single Walled & Multi Walled), End Use Industry (Electronics & Semiconductors, Chemical Materials & Polymers, Structural Composites, Energy & Storage, Medical), Method, and Region - Global Forecast to 2028", The global carbon nanotube (CNT) market size is projected to reach USD 2.3 billion by 2028 from USD 1.1 Billion in 2023 at a CAGR of 14.6% between 2023 and 2028. One of the largest markets for carbon nanotube (CNT) worldwide is the Asia Pacific area. The demand for CNTs is increasing in the electronics, automotive and healthcare industries. The demand from developing nations, such as China, India, Brazil, and Argentina are expected to drive the global CNTs market.

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In terms of volume for carbon nanotube (CNT) market overall, multi-wall carbon nanotube (MWCNT) type held the largest share in 2022. Multi-wall carbon nanotube consists of concentric tubes or cylinders of carbon. Carbon endcaps are usually employed to seal the ends of tubes. Double-wall tubes, bamboo, and herringbone architectures are other MWCNT types. Compared to single wall carbon nanotubes, multi-wall carbon nanotubes are simpler to manufacture in large quantities. MWCNTs are used in conductive transparent electrodes, conductive nano inks, conductive heating films, chemical sensors, displays, super batteries, supercapacitors energy storage, solar power cells, thermal interface material, and other applications because of their excellent electrical conductivity.

Energy & storage end-use industry holds the largest share in terms of volume in overall carbon nanotube (CNT) market. The highest volume of CNTs is consumed for energy & storage. Vehicles that need lightweight, high-energy density solutions are causing a sharp rise in the demand for lithium (li)-ion batteries. Cell phones, notebook computers, and hybrid cars all use these batteries because they have the best energy density per weight.

During the forecast period, the lithium-ion battery market is anticipated to be driven by the rising use of plug-in hybrid electrical vehicles (PHEV) and portable electronic gadgets. As a result, the market for carbon nanotubes in the energy & storage sector is anticipated to grow. Several automakers have begun concentrating on EVs as several nations have taken measures to reduce CO2 emissions and maintain a greener environment.

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Asia Pacific is the largest market and is likely to continue in the foreseeable future. The three main end-use sectors for CNTs are automotive, building & construction, and electrical & electronics. Increased vehicle sales in the region are anticipated to have a positive effect on the market during the forecast period due to the expansion of the road and transport networks in the region and government measures to expand the industrial and infrastructure. A result of its expanded industrial production during the last five years, China now leads the world in the need for CNTs. The industry is also driven by the relocation of manufacturing operations for the chemical, automotive, and aerospace sectors from established markets to developing nations.

LG Chemicals Limited (South Korea), Cabot Corporation (US), Resonac Corporation (Showa Denko K.K.) (Japan), Jiangsu Cnani Technology (China), Timesnano (Chengdu Organic Chemicals Co. Ltd.) (China), Nanocyl SA (Belgium), Arkema SA (France), Sumitomo Corporation (Japan), Cheap Tubes, Inc. (US), Hanwha Corporation (South Korea), are the key players in the global carbon nanotube (CNT) market. Toray International Group Limited (Japan), Kumho Petrochemical Co. Ltd. (South Korea), Klean Commodities (Canada), Thomas Swan & Co. Limited (UK), Raymor (Canada) are some of the startups in the global carbon nanotube (CNT) market.

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Electronics and Nanoelectronics: CNTs are used in the development of high-performance electronic devices such as transistors, sensors, and interconnects. Their excellent electrical conductivity and unique electronic properties make them promising candidates for advancing electronic components to smaller sizes and greater efficiencies.

Materials Reinforcement: CNTs are employed as reinforcing agents in composite materials, enhancing mechanical strength, stiffness, and thermal conductivity. These composites find applications in aerospace, automotive, and construction industries, leading to the development of lightweight and strong materials.

Energy Storage (Batteries and Supercapacitors): CNTs are integrated into electrodes in lithium-ion batteries and supercapacitors to improve electrical conductivity, charge/discharge rates, and overall performance. They contribute to the development of energy storage devices with higher capacity, faster charging times, and longer lifespan.

Conductive Films and Coatings: CNT-based films and coatings are used to create conductive layers with applications in touchscreens, flexible electronics, and anti-static materials. The transparency and electrical conductivity of CNT films make them valuable in electronic displays and sensors.

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