Press release
Carbon Nanotubes (CNT) Market to Reach USD 11,883.70 Million by 2034, Growing at a 13.9% CAGR
Carbon Nanotubes (CNT) Market
Market Overview:
Carbon nanotubes (CNTs) are nanoscale, hollow cylinders made of carbon atoms arranged in a hexagonal lattice, resembling rolled-up sheets of graphene. They are known for their exceptional strength, high thermal and electrical conductivity, and low density, making them a key component of nanotechnology. CNTs are essentially a single layer of carbon atoms with rolled-up sheets of graphene arranged in a hexagonal lattice. They have a diameter in the nanometer range (a few nanometers) and can be several micrometers long. CNTs possess exceptional mechanical strength, high electrical conductivity, and thermal stability. Due to their unique properties, CNTs are used in various fields, such as electronics, material science, medicine, and energy.
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Growth Drivers:
• The growing emphasis on renewable energy solutions is boosting the market need for carbon nanotubes.
• The increasing use of flexible screens and wearable gadgets is driving the expansion of the carbon nanotubes (CNT) market.
• The increasing use of electric vehicles (EVs) and innovations in affordable manufacturing techniques, like chemical vapor deposition, are boosting the revenue of the carbon nanotubes (CNT) market.
Key Players in Market:
Key market competitors are making considerable investments in research & development to increase their product portfolio, which will further fuel the growth of the CNT market. A few of these key players are:
• Arkema
• Arry International Group Limited
• Cabot Corporation
• Carbon Solutions, Inc.
• CHASM
• Continental Carbon Nanotechnologies, Inc.
• Hanwha Solutions Chemical Division Corporation
• Jiangsu Cnano Technology Co., Ltd
• LG Chem
• Nanocyl SA
• OCSiAl
• Resonac Holdings Corporation
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Carbon Nanotubes (CNT) Industry Developments:
• March 2024: CHASM Advanced Materials, Inc. partnered with Ingevity Corporation to expand the supply of carbon nanotubes (CNTs) for gigafactories across North America and Europe.
• May 2023: LG Chem commenced construction of its fourth carbon nanotube (CNT) plant at its Daesan Complex, located 80 kilometers southwest of Seoul. Slated for operation in 2025, the CNT 4 Plant will double LG Chem's annual CNT production capacity to 6,100 tons.
• March 2021: Cabot Corporation launched the ENERMAX 6 carbon nanotube (CNT) series, representing its latest advancement in high-performance CNT materials.
Segmental Overview:
• The carbon nanotubes market is segmented based on application, industry vertical, type, and region.
• By type, the multi-walled CNT (MWCNT) segment led the market in 2024 thanks to their affordability and wider application in comparison to single-walled CNTs.
• In 2024, the automotive and aerospace segment, based on industry vertical, represented a significant market share because of the increasing demand for lightweight, high-performance materials.
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By Type Outlook (Revenue, USD Million, 2020-2034)
• Single-Walled CNT (SWCNT)
• Multi-Walled CNT (MWCNT)
By Application Outlook (Revenue, USD Million, 2020-2034)
• Electronics & Semiconductors
• Energy Storage
• Structural Materials
• Medical & Pharmaceuticals
By Industry Vertical Outlook (Revenue, USD Million, 2020-2034)
• Automotive & Aerospace
• Energy & Power
• Healthcare & Biotechnology
Regional Analysis:
• North America
o US
o Canada
• Europe
o Germany
o France
o UK
o Italy
o Spain
o Netherlands
o Russia
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Malaysia
o South Korea
o Indonesia
o Australia
o Vietnam
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Israel
o South Africa
o Rest of Middle East & Africa
• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America
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