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Global Carbon Nanotubes Market worth USD 5.31 Billion and CAGR 18.6% by 2021
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Carbon nanotubes are nano-sized cylindrical tubes made up of carbon atoms. Carbon nanotubes are segmented by type as single walled nanotubes and multi walled nanotubes. Multi walled nanotubes accounted for significant market share. Revenue value for multi walled nanotubes accounted USD 2.07 billion in 2015 and is expected to grow up to USD 5.12 billion during the forecast period. Furthermore, single walled nanotubes accounted only 6.0% of the total carbon nanotubes market.
Electrical and electronics segment accounted over 20% share of the total global carbon nanotubes market in 2015, followed by polymers. The global carbon nanotubes are expected to witness significant growth over the forecast period on account of increasing demand from polymers industry. India, being the global leader in electrical and electronics market will witness a massive investment in CNT in the future. Besides the polymers and electrical and electronics segments, India is set to witness a CAGR growth of 45.3% (2016-2021) in the field of nanotechnology for energy sectors. Asia-Pacific is the fastest growing regional market for CNTs due to the inflow of FDI (Foreign Direct Investment) in the energy sector.
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In terms of geography, Asia-Pacific was the largest market for carbon nanotubes in the world due to the increasing demand for polymers and electrical and electronics industries. In terms of revenue, Asia Pacific accounted for the major chunk of the total carbon nanotubes market in 2015. Moreover, CNTs market has the huge opportunity in the emerging markets of North America due to the robust manufacturing of engineered polymers industry in this region during the forecast period. North America and Europe are together accounted 50% of the global market.
Key players in the market include Carbon Solutions, Inc., Cheap Tubes Inc., Klean Carbon Inc., Nanocyl S.A., Nanolab Inc., Southwest Nanotechnologies, Inc., Nanothinx S.A., Toray Industries, Inc., Arry International Group Limited, Hanwha Chemical Co. Ltd.
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