Carbon Nanotubes Market by Type ((Single-Walled Carbon Nanotubes (SWCNTs) and Multi-Walled Carbon Nanotubes (MWCNTs)), Application (Structural Polymer Composites, Conductive Polymer Composites, Conductive Adhesives, Fire Retardant Plastics, Metal Matrix Composites, Li-ion Battery Electrodes, and Others), and End User (Electricals & Electronics, Aerospace & Defense, Energy, Sporting Goods, Automotive, Industrial, and Others):the global carbon nanotubes market was accounted for $15.3 billion in 2017, and is expected to reach $103.2 billion by 2030, growing at a CAGR of 16.3% from 2021 to 2030.
“Increasing penetration of CNTs in key applications such as conductive polymer composites and li-ion battery electrodes, growing partnership between the suppliers & buyers of CNTs, and substantial research & development spending are the factors that have resulted in significant upsurge in demand for CNTs”. “However, high cost of Single-Walled Carbon Nanotubes (SWCNT) and growing demand for inorganic and boron nitride nanotubes hamper the market growth”, he further added.
𝐃𝐨 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 – https://www.alliedmarketresearch.com/purchase-enquiry/1519
Drivers, restraints, and opportunities
Increasing demand in the electricals & electronics industries, growing demand from the Asia-Pacific region, surge in penetration in the aerospace & defense sector have boosted the growth of the global carbon nanotubes market. Moreover, wide acceptance of MWCNTs, significant investment in R&D, and rise in demand for renewable energy sources supplemented the market growth. However, high production cost of SWCNT and increasing demand for inorganic and boron nitride nanotubes hamper the market. On the contrary, rising healthcare market in the Asia-Pacific region and growing penetration in the automotive industry are expected to create lucrative opportunities for the market players in the coming years.
By type, the multi-walled carbon nanotubes (MWCNT) segment held the largest share in 2021, accounting for nearly two-thirds of the global carbon nanotubes market, owing to its significantly lower costs as compared to SWCNTs. However, the single-walled carbon nanotubes (SWCNT) segment is expected to manifest the highest CAGR of 15.0% during the forecast period, due to its comparatively superior electronic properties making it ideal for ESD applications.
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The aerospace & defense segment is expected to manifest the highest CAGR through 2030
On the basis of technology, the catalytic CVD segment is projected to manifest the highest CAGR of 17.9% from 2021 to 2030. However, the CVD segment held the lion’s share in 2017, contributing to more than one-fifth of the market.
Asia-Pacific, followed by North America, held the lion’s share
By region, the global carbon nanotubes market across Asia-Pacific, followed by North America, held the largest share in 2021, contributing to nearly half of the market. Moreover, the region is expected to portray the highest CAGR of 11.6% during the forecast period, due to presence of vast manufacturing base in countries such as China, Japan, Australia, and India. The research also offers a detailed analysis of regions including North America, Europe, and LAMEA.
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Major market players
The global carbon nanotubes market report includes an in-depth analysis of the prime market players such as Cabot Corporation, Arkema SA, CHEAPTUBES, CHASM Advanced Materials Inc., Jiangsu Tiannai Technology Co. Ltd., Hyperion Catalysis International, Kumho Petrochemical, Klean Industries, Nano-C, LG Chem, Nanostructured & Amorphous Materials Inc., Nanocyl SA, OCSiAl, Nopo Nanotechnologies, Raymor Industries, Ossila Ltd., Thomas Swan and Co. Ltd., Showa Denko K.K., Tokyo Chemical Industry Co. Ltd., and Toray Industries.
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