Carbon Nanotubes (CNT) Market Size & Share to Surpass $1823.7 Million by 2028 | Vantage Market Research

WASHINGTON, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Global Carbon Nanotubes Market is valued at $ 826.5 Million in 2021 and is projected to reach a value of $ 1823.7 Million by 2028 at a CAGR (Compound Annual Growth Rate) of 14.1% over the forecast period 2022-2028.

Market Overview

According to Vantage Market Research, some of the key factors anticipated accelerating the carbon nanotubes market growth over the forecast period. Due to their characteristics, including the ability to reduce the weight of satellites and aircraft fuselage, reduce aircraft icing, and protect aircraft from lightning, carbon nanotubes are highly sought after in the aviation and space industries. During the predicted period, the commercialization of carbon nanotubes will expand, and their quality will improve, driving up demand.

We forecast that the multi-walled nanotubes category in the carbon nanotubes market sales will account for more than 56% of total sales by 2028. The Multi-Walled Nanomaterials are a microscopic ingredient that can be useful in enhancing the mechanical characteristics, ionic conductivity, and coefficient of thermal expansion of products in which they are mixed. They are composed of numerous layers of perforated pipes created from graphene.

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Market Dynamics

High Demand Across End Users in Developing Nations to Boost Market Growth

The rising need for ultralight, moderate automobiles has considerably impacted the market for carbon nanotubes. Accordingly, the market is expected to rise during the projection period due to the rapid proliferation of end-use industries like electrical, electronics, and automotive, as well as the rising demand for products from critical applications like chemicals, telecommunications equipment, and energy storage.

Growing Demand for EMI Shielding to Protect Electronic Device Components

In a diverse range of industrial, commercial, and professional endeavors, electromagnetic interference (EMI) shielding is essential for safeguarding people's health and assuring the safe operation of equipment. EMI shielding materials are expected to increase due to the increasing use of these raw materials in applications such as personal computer and mobile phone information exchange dwellings, medical supplies housings, GPS devices, aerospace components, transport equipment, computational methods, and defense & national guard components.

Top Players in the Global Carbon Nanotubes Market

• Arkema SA, (France)
• Cabot Corporation, (US)
• CHASM Advanced Materials Inc., (US)
• CHEAPTUBES, (US)
• Hyperion Catalysis International, (US)
• Jiangsu Tiannai Technology Co. Ltd., (China)
• Klean Industries, (Canada)
• Kumho Petrochemical, (South Korea)
• LG Chem, (South Korea)
• Nano-C, (US)
• Nanocyl SA, (US)
• Nanostructured & Amorphous Materials Inc., (Texas)
• Nopo Nanotechnologies, (India)
• OCSiAl, (US)
• Ossila Ltd., (Endland)
• Raymor Industries, (Canada)
• Showa Denko K.K., (Tokoyo)
• Thomas Swan Co. Ltd., (UK)
• Tokyo Chemical Industry Co. Ltd., (Chennai)
• Toray Industries, (Japan)

For Additional Information on Carbon Nanotubes Market Players and Detail List, Download a Report PDF Brochure

Top Trends in Global Carbon Nanotubes Market

• One trend Vantage Market Research (VMR) expects to see in the carbon nanotubes industry is surging technological advancements and initiatives. The projection period will see the market players benefit from quick technical advances and falling production costs. Additionally, the market for carbon nanotubes will continue to rise due to the government's increasing efforts to promote the use of wind energy.
• Another trend that VMR predicts will continue in the carbon nanotubes industry is the rising demand for multi-walled carbon nanotubes. The increasing demand for multi-walled carbon nanotubes fuels the market expansion for carbon nanotubes. The multi-walled carbon nanotubes are used in various applications, including conductivity electrochemical sensors, ionic resistance, soft, metallic nano inks, and conductive sizzling film.

Top Report Findings

• Based on type, most of the carbon nanotubes market's revenue is controlled by the multi-walled carbon nanotubes category. Compared to single-wall nanotubes, multi-wall carbon nanotubes have lower production costs. Given their increasing profitability, these products are often preferred for producing polymers or other lightweight materials.
• Based on the method, most of the carbon nanotubes market's revenue is controlled by the chemical vapor decomposition category. The application of this technology contributes to the production of higher-quality carbon nanotubes. The section on chemical vapor deposition is particularly useful for presenting the frequency at which carbon breakdown occurs. It plays a tremendous role in the production of carbon nanotubes.
• Based on end users, most of the carbon nanotubes market's revenue is controlled by the electronic and semiconductor categories. Technologies are perfect for electronic devices used in vehicles, industrial facilities, and space satellite communications, where they are regularly subjected to radiation, severe temperatures, and ultraviolet rays. These nanoparticles' broad use in electronic applications can also be explained by the remarkable energy efficiency that results from their small size.
  
  

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Recent Developments in the Global Carbon Nanotubes Market

• In March of 2021, Cabot Corporation released its next batch of Carbon Nanotubes, ENERMAX 6. As the most conductive multi-walled CNT product in Cabot's lineup, this product is a high-performance CNTs thanks to its high aspect ratio.
• South Korean electronics company LG Chem has opened a factory to produce Carbon Nanotubes. Starting in April 2021, the company plans to go after the expanding market for CNTs used as a material for cathodes in electric car batteries.

Electronics & Semiconductors Category in Carbon Nanotubes Market to Generate Over 31% Revenue

Carbon Nanotubes are an expensive investment. Vantage Market Research has analyzed the market for carbon nanotubes to understand its current state and potential future growth factors. For better understanding, based on the end users, the carbon nanotubes market is divided into electronics & semiconductors, energy & storage, chemical material & polyme, medical, structural composites application and Others

During the forecast period, the market for carbon nanotubes is anticipated to experience the highest CAGR for the electronics & semiconductors category. Because there is a growing need to satisfy the requirements of the numerous manufacturing industries worldwide. Additionally, CNTs are widely employed in the copolymer anodization used in the production of diodes, which is anticipated to boost this segment's revenue growth over the expected year.

On the other hand, the medical category is estimated to grow significantly over the forecast period. In the medical and pharmaceutical fields, carbon nanotubes have proven to be very beneficial in detecting and treating cancer. The fact is that carbon nanotubes are excellent antioxidants.

Asia Pacific Region in Carbon Nanotubes Market to Generate More 41% Revenue

Asia Pacific region dominates the market throughout the projection period. Regional growth will be significantly impacted by the soaring sales of high-tech electronic products due to recent technological developments and rapid innovation. Additionally, the rise of regional industries will be fueled by the growing number of R&D facilities and the rapidly growing healthcare sector

Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on Carbon Nanotubes Market Forecast Report (2022-2028).

Global Carbon Nanotubes Market Segmentation

By Type

• Single-Walled Carbon Nanotubes (SWCNT)
• Multi-Walled Carbon Nanotubes (MWCNT)

By Method:

• Chemical Vapor Deposition
• Catalytic Chemical Vapor Deposition (CCVD)
• High-Pressure Carbon Monoxide Reaction
• Others

By End-use Industry:

• Electronics & Semiconductors
• Energy & Storage
• Chemical Material & Polymers
• Medical
• Structural Composites Application
• Others

By Region

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • South-East Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

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Scope of the Report:

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• Top Companies in Carbon Nanotubes Market by Size, Share, Historical and Future Data & CAGR
  

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