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Carbon Nanotubes Market exceeding USD 8.1 billion by 2024

09-20-2017 01:24 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Insights

Carbon Nanotubes Market exceeding USD 8.1 billion by 2024

As per a research report on Carbon Nanotubes Market by Global Market Insights Inc., “the global carbon nanotubes market worth USD 1.35 billion in 2015, is estimated to grow at a CAGR of 22.1 % over the period of 2016-2024, hitting USD 8.1 billion by 2024.” Wide applications of these materials across energy, electrical & electronics, and polymers industries are likely to drive the market growth over the forecast timeframe, says the report.

The carbon Nanotubes market has become a billion-value industry due to the high demand for these materials across various end use industries. Carbon nanotubes are allotropes of carbon having a cylindrical nanostructure and possess excellent properties, making it popular across electronics, optics, nanotechnology, and material science industries.

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CNT market will significantly expand owing to its applications in the polymer industry. The polymer industry contributed towards 50% of the overall CNT market share in 2015, and is expected to be the dominant application segment over the coming years.

Electrical & Electronics will be another major industry supporting the growth of CNT market over the next eight years. The industry will demand for high use of CNTs in a wide set of applications like forming p-n diode by chemical doping and polymer coating, building electronic devices like field effect transistors, and dispersing heat from computer chips owing to their incredible thermal transmission properties. Electrical & Electronics application segment is pegged to grow at a CAGR of 20% over the period of 2016-2024.

Carbon Nanotubes are mainly used in the form of either SWCNT (Single Wall Carbon Nanotubes) or MWCNT (Multi Wall Carbon Nanotubes). SWCNTs accounted only for a small portion of the overall carbon nanotubes market. These are mainly used in electrical applications owing to the high electrical conductivity exhibited by these materials.

Browse Source Industry Report@
Carbon Nanotubes Market Size By Product (Single Wall Carbon Nanotubes [SWCNT], Multi Wall Carbon Nanotubes [MWCNT]), By Application (Polymers, Energy, Electrical & Electronics), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Russia, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024

https://www.gminsights.com/industry-analysis/carbon-nanotubes-market

MWCNTs accounted for 90% of the overall market share in 2015, and is expected to register a CAGR of 22% over the period of 2016-2024. The high growth is attributed to the excellent electrical, thermal, and mechanical properties possessed by these materials which makes them extensively used as polymers additives, catalysts, electron field emitters, gas-discharge tubes in telecom networks, lithium-battery anodes, nanotube composites, nanoelectrodes, etc.

The U.S. CNT market worth USD 340 million in 2015, is set to witness noticeable growth over the coming years, primarily driven by government investments in nanotechnology and growth in the polymer industry across this region.

The Asia Pacific CNT market is estimated to register the highest CAGR of 23% over the next eight years. Expansion of polymer and electronics industry in this region will be primarily driving the industry share. China, Japan, and India are set to be the major revenue pockets for the CNT market in APAC.
The industry is quite fragmented with a blend of large and small market players. Key industry players like Hanwha Nanotech Corporation and Arkema SA are backward integrated, where they manufacture raw materials required for CNTs.

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Other participants such as C Nano Technology Limited, Nanocyl SA, Raymor Industries, Thomas Swan & Co. Ltd., and Nanoshel LLC have adopted regional distribution strategies to address the high demand for CNTs in end-use industries.

About Global Market Insights, Inc.:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com/

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