Global Carbon Nanotubes Market, By Method (Chemical Vapor Deposition, Catalytic Chemical Vapor Deposition (CCVD), High-Pressure Carbon Monoxide Reaction, Others), Type (Single-Walled Carbon Nanotubes (SWCNT), Multi-Walled Carbon Nanotubes (MWCNT)), Technology (Arc Discharge, Laser Ablation, CVD, Catalytic CVD, High Pressure Carbon Monoxide, CoMoCAT, Floating Catalyst, Others), Application (Structural Polymer Composites, Conductive Polymer Composites, Conductive Adhesives, Fire Retardant Plastics, Metal Matrix Composites, Li-ion Battery Electrodes, Others), End User (Aerospace and Defense, Chemicals and Polymers, Electronics and Semiconductors, Advanced Materials, Batteries and Capacitors, Medical, Energy, Others) – Industry Trends and Forecast to 2029.
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Over the recent years, the advancements in nanotechnology in the manufacturing process and reinforcement with other materials are expected to lead to new applications for carbon nanotubes. Moreover, the carbon nanotube manufacturers and academic organizations are actively pursuing this sector to find new ways to incorporate carbon nanotubes. These determinants will aid the market growth over the forecasted timeframe.
Global carbon nanotubes market was valued at USD 876.00 million in 2021 and is expected to reach USD 2852.14 million by 2029, registering a CAGR of 15.9% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Market Definition
Carbon nanotubes are carbon molecules that are arranged in a tube-like configuration. These nanotubes offer superior properties that make them stronger than steel while also reducing their weight. These molecules are rolled up into single-walled or multi-walled cylinders, resulting in unpredictable properties.
Recent Development
In August 2020, ChemSpec North America signed a non-exclusive distribution agreement with Nanocyl SA of Belgium to promote and distribute Nanocyl's multiwall carbon nanotube ("MWCNT") products. ChemSpec will target the industrial manufacturing markets in both the United States and Canada. ChemSpec will concentrate its efforts on expanding the use of MWCNT in thermoplastic and elastomer compounding.
In March 2021, Cabot Corporation announced the debut of ENERMAXTM 6, a new product in its carbon segment. It has shown to be the most conductive multi-walled CNT product in the company's portfolio due to attributes such as high aspect ratio. This product series is expected to improve battery performance at lower loadings, allowing batteries to have a higher energy density.
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Competitive Landscape and Carbon Nanotubes Market Share Analysis
The carbon nanotubes market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to carbon nanotubes market.
Some of the major players operating in the carbon nanotubes market are
LG Chem (South Korea)
Cabot Corporation (U.S.)
Showa Denko K.K. (Japan)
Jiangsu Cnano Technology Co., Ltd. (China)
Dupont (U.S.),
SOLVAY (Belgium)
DAIKIN (Japan)
Freudenberg SE (Germany)
Carbon Solutions, Inc. (U.S.)
OCSiAl (Luxembourg)
SABIC (Saudi Arabia)
Nanoshel LLC (U.S.)
Thomas Swan & Co. Ltd. (UK)
Nanothinx S.A. (Greece)
XinNano Materials, Inc. (China)
Continental Carbon Nanotechnologies, Inc. (U.S.)
KUMHO PETROCHEMICAL (South Korea)
Raymor Industries Inc. (Canada)
CHASM (U.S.)
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Carbon nanotubes Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
High Demand Across End Users
The growing need for lightweight, low-carbon automobiles has significantly impacted the market for carbon nanotubes. In line with this, the high expansion of end-use industries such as electrical and electronics and automotive and increased product demand from application industries such as plastics, electronics, and energy storage are all contributing to the market's growth over the projection period.
Additionally, the rising polymer production on account of rising application scope of the construction and automotive industries are also positively impacting the growth of the carbon nanotubes market. The major factor accountable for the growth of the market is the growing use in electronic and storage devices. Additionally, the rising composite application in defense and automotive industry is projected to bolster the growth of the market.
Opportunities
Surging Technological Advancements and Initiatives
Furthermore, rapid technological advancements and decreasing production cost, extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the growing government initiatives towards wind energy generation will further expand the future growth of the carbon nanotubes market.
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