New York, United States , Sept. 13, 2023 (GLOBE NEWSWIRE) -- The Global Carbon Nanotubes (CNT) Market Size is to grow from USD 1,238 Million in 2022 to USD 5,850 Million by 2032, at a Compound Annual Growth Rate (CAGR) of 16.8% during the projected period. The global market for carbon nanotubes is being propelled by consumer demand for antistatic packaging, compact structural polymer composite materials, and conductive components for EMI shielding materials in the automotive, electronics, energy, and commercial consumer markets. North America is expected to grow the fastest during the forecast period.
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Carbon nanotubes (CNTs) are large-diameter cylinder-shaped molecules comprised of a hexagonal structure of coupled carbon atoms that can be formed by rolling up a single sheet of graphene (SWCNTs) or multiple sheets of graphene (MWCNTs). Furthermore, carbon nanotubes have the potential to be employed in directing other nanoscale structures due to their strength and flexibility, meaning that they will play an important role in the development of nanotechnology. Because of the rising electronics industry, particularly in printed circuit boards and semiconductors, global product usage has expanded. Carbon nanotubes are in high demand in the aerospace and defense industries due to their outstanding properties and ability to aid in the development of lightweight equipment. Furthermore, favorable rules and regulations enacted by various governments to promote nanotechnology at the national level are expected to drive the growth of the carbon nanotubes market during the forecast period.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on, "Global Carbon Nanotubes (CNT) Market Size, Share, and COVID-19 Impact Analysis, By Type (Single-Walled Carbon Nanotubes (SWCNT) and Multi-Walled Carbon Nanotubes (MWCNT)), By Technology (Chemical Vapor Deposition, Catalytic CVD, Arc Discharge), By End-use Application (Automotive, Electronics & Semiconductors, Energy & Storage, Chemical Material & Polymers, Medical & Pharmacy, Structural Composites Applications, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Here:
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The Multi-Walled Carbon Nanotubes (MWCNT) segment is dominating the market with the largest revenue share over the forecast period.
On the basis of type, the Global Carbon Nanotubes (CNT) Market is segmented into the Single-Walled Carbon Nanotubes (SWCNT) and Multi-Walled Carbon Nanotubes (MWCNT). Among these, the Multi-Walled Carbon Nanotubes (MWCNT) segment is dominating the market with the largest revenue share of 58.6% over the forecast period. This supremacy may be attributed to their superior properties, which include, among other things, five times the mechanical strength, electrical conductivity, and thermal conductivity of copper. The rising popularity of multi-walled carbon nanotubes in applications such as medical and healthcare, electrical devices, and optical devices is expected to fuel market growth over the forecast period.
The catalytic CVD segment is witnessing significant CAGR growth over the forecast period.
On the basis of technology, the Global Carbon Nanotubes (CNT) Market is segmented into chemical vapor deposition, catalytic CVD, and arc discharge. Among these, the catalytic CVD segment is witnessing significant CAGR growth over the forecast period. The catalytic CVD technique has gained popularity in CNT manufacture due to its versatility and compliance with low temperatures and ambient pressures. With the advancement of technology and research in the field of synthetic fibers, there will be a huge demand for the manufacturing of CNT fibers via FCCVD.
The electronics & semiconductors segment accounted for the largest revenue share of more than 37.2% over the forecast period.
On the basis of end-use application, the Global Carbon Nanotubes (CNT) Market is segmented into automotive, electronics & semiconductors, energy & storage, chemical material & polymers, medical & pharmacy, structural composites applications, and others. Among these, the electronics & semiconductors segment dominates the market with the largest revenue share of 37.2% over the forecast period. This is owing to the material's strong conductivity and remarkable optoelectronic capabilities in electronics and electrical engineering applications. Furthermore, carbon nanotubes are used in the manufacture of diodes and field-effect transistors via chemical doping and polymeric coatings, which are predicted to propel semiconductor revenue development.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 45.7% market share over the forecast period. This can be attributed to increasing end-use applications, such as lithium-ion batteries used in mobile phones and laptops, as well as a movement in the automotive industry favoring environmentally friendly and sustainable vehicles, which has resulted in the widespread use of electric vehicles. Furthermore, a sufficient supply of raw materials, as well as low labor and production costs in countries like as China, India, and South Korea, are contributing to revenue growth in the regional market. China is the Asia-Pacific region's largest customer and the world's second-largest market. On the other hand, North America is predicted to expand the fastest during the forecast period. This is mostly due to increased demand for CNT-based polymers, which are utilized to improve the thermal, electrical, and mechanical properties of a wide range of products.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Carbon Nanotubes (CNT) Market include Showa Denko K.K., LG Chemical Limited, Cabot Corporation, Jiangsu Cnano Technology Co., Chengdu Organic Chemicals Co. Ltd., Nanocyl S.A., Arkema S.A., CHASM™ Advanced Materials, Nanocyl, OCSiAl, Nanoshell LLC, Klean Commodities, Carbon Solutions, Inc., and among others.
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Recent Developments
On May 2023, LG Chem Ltd. announced the groundbreaking of its fourth carbon nanotube (CNT) plant in South Korea, which will more than the treble output of the crucial industrial material in the coming years. The CNT 4 factory, which will be built in LG Chem's Daesan site in Seosan, will increase the chemical company's overall CNT production capacity to 6,100 tons by the time it opens in 2025. The present output capacity of the country's largest chemical business is 2,900 tons.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Carbon Nanotubes (CNT) Market based on the below-mentioned segments:
Carbon Nanotubes (CNT) Market, Type Analysis
- Single-Walled Carbon Nanotubes
- Multi-Walled Carbon Nanotubes
Carbon Nanotubes (CNT) Market, Technology Analysis
- Chemical Vapor Deposition
- Catalytic CVD
- Arc Discharge
Carbon Nanotubes (CNT) Market, End-use Application Analysis
- Automotive
- Electronics & Semiconductors
- Energy & Storage
- Chemical Material & Polymers
- Medical & Pharmacy
- Structural Composites Applications
- Others
Carbon Nanotubes (CNT) Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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