The global Carbon nanotubes market was worth more than USD xx billion in revenue in 2018 and is expected to cross USD xx billion in 2023, growing at a healthy CAGR of over xx% during the forecast period.
Carbon nanotubes are nanostructures of carbon produced by vapor deposition of a variety of high carbon content sources. CNTs possess high tensile strength and are light weight in nature. They are up to 20 times stronger and 5 times lighter than steel. CNTs also exhibit excellent thermal and electrical conductivity, due to which they are used in a number of applications. They are primarily used in nano-electronics, optics, engineering materials and other applications. CNTs are mainly produced by Chemical Vapor Deposition, Catalytic Chemical Vapor Deposition and High Pressure Carbon Monoxide technologies.
Based on structure carbon nanotubes are of two types, Single walled Carbon nanotubes (SWCNT) and Multi walled Carbon nanotubes (MWCNT).
Rising demand for nano materials from various industries such as Electronics, Chemical, Batteries, Energy, Medical and other industries is likely to drive the carbon nanotubes market. As development of nano sized applications by these industries increases, demand for nano materials is expected to fuel the growth of this market. Demand for nano sized materials is actually increasing due to rise in need for sophisticated medical, electronics and other applications, which is in turn supported by the growing population and extra income in both developed and developing countries. This demand is growing at a higher rate, which in turn will boost consumption of carbon nanotubes.
Drivers and Restraints of Carbon Nanotubes Market
Growing investments in nano sized applications in regions like Asia, Europe and the Americas are likely to offer tremendous possibilities for carbon nanotubes market in the future. As a result of accessibility to technology, governments and multinational businesses are investing in nano materials to be able to limit the overall production cost.
Carbon nanotubes have a probability of volatility in supply and price due to its high cost and limitations on quantity of production.
Carbon Nanotubes Market by Region
Asia was the largest consumer of carbon nanotubes and this pattern is anticipated to continue to be identical over the following few years. Consumption in Asia is showing upward trend because of rise in government funding in China. China and Japan were the largest consumers of carbon nanotubes in this region. Growing demand for nanoelectronics, nanomedicine and other applications will drive carbon nanotubes market in Asia. Consumption of carbon nanotubes in Americas, mainly the US is likely to grow at a reasonable rate next to Asia. Europe is likely to grow at a significant rate due to demand from medical, aerospace and other industries.
Top players in this market include Arkema S.A., Arry International Group Ltd., Carbon Solutions Inc., Cheap Tubes Inc., CNano Technology Ltd., CNT Company Ltd., Hanwha Chemical Co. Ltd., Hyperion Catalysis international Inc., Kumho Petrochemical Company Ltd., Nano-C Inc., Nanocyl S.A., NanoIntegris Inc., NanoLab, Inc., Nanoshell LLC, Nanothinx S.A., Showa Denko K.K., SouthWest NanoTechnologies Inc., Thomas Swan & Co. Ltd., and Toray Industries, Inc
The report covers exhaustive analysis on:
- Global Market Size
- Global Market Segments
- Market Regional Analysis
- Global Market Competitive Landscape
- Production Technology
- Global Market Value Chain
- In depth summary of parent market
- Altering market characteristics in the industry
- Detailed market segmentation
- Historical and forecast market size in terms of volume and value
- Current industry developments
- Competitive landscape
- Potential and niche segments, regions showing promising growth