According to the report published by Allied Market Research, the global industrial carbon nanotubes market was estimated at 2.3 billion in 2020 and is expected to hit $10.3 billion by 2030, registering a CAGR of 16.3% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Rise in demand from the end-use industries and advancements in carbon nanotechnology fuel the growth of the global industrial carbon nanotubes market. On the other hand, several production scale-up challenges, the resultant high prices, and increase in demand for inorganic and boron nitride nanotubes impede the growth to some extent. However, biomedical applications of carbon nanotubes and commercial release of CNT transistors are expected to create lucrative opportunities in the industry.
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COVID-19 scenario-
- Dearth of skilled labor force and halted manufacturing operations gave way to disrupted supply chain, leading to a shortage of essential automotive components, thereby impacting the industrial carbon nanotubes market negatively.
- Financial turbulence in leading economies has also delayed commissioning of new renewable electricity projects, which in turn has affected the global market for industrial carbon nanotubes.
The global industrial carbon nanotubes market is analyzed across type, technology, application, and region.
Based on type, the MWCNT segment held the major share in 2020, garnering nearly three-fourths of the total market. The SWCNT segment, however, would cite the fastest CAGR of 20.9% during the forecast period.
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By technology, the CVD segment accounted for more than one-fifth of the total market revenue in 2020, and is anticipated to retain its dominance by 2030. The catalytic CVD segment, on the other hand, would grow at the fastest CAGR of 17.9% from 2021 to 2030.
Based on region, the market across Asia-Pacific contributed to the major share in 2020, holding nearly two-fifths of the global market. The same region would also grow at the fastest CAGR by 17.5% from 2021 to 2030. The other provinces studied in the report include North America, Europe, Middle East, Africa, and South America.
The key market players analyzed in the global industrial carbon nanotubes report include Cabot Corporation, CHASM Advanced Materials Inc., CHEAPTUBES, Hyperion Catalysis International, Jiangsu Tiannai Technology Co. Ltd., Kumho Petrochemical, LG Chem, Nano-C, Nanocyl SA, Arkema SA, Toray Industries, Nanostructured & Amorphous Materials Inc., Nopo Nanotechnologies, OCSiAl, Ossila Ltd., Raymor Industries, Showa Denko K.K., Klean Industries, Thomas Swan and Co. Ltd., and Tokyo Chemical Industry Co. Ltd. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.