The global carbon nanotubes
(CNT) market size is anticipated to reach USD 10.52 billion by 2028 and
exhibit a CAGR of 10.2% during the forecast period. Carbon nanotubes find their
applications requiring durability, thermal conductivity, electrical
conductivity, and high strength. The growing demand for electronics and
electrical products is expected to boost the market growth. Similarly, the
expansion of the aerospace industry is anticipated to bolster market growth.
Fortune Business InsightsTM has presented this information in
the report titled, “Carbon Nanotubes (CNT) Market, 2021-2028”. The market size
stood at USD 4.94 billion in 2020.
The swift commercialization and upscale of installed capacities
with technological advancements to develop advanced products and improve
overall product quality is anticipated to be a major trend that is likely to
foster the growth of the market in the coming years.
Key Players in the Global Carbon Nanotubes Market are:
- Arkema SA
- Nanocyl SA
- Nanoshell LLC
Solutions, Inc. (California, U.S.)
Catalysis International (Massachusetts, U.S.)
- SHOWA DENKO K.K.
- Klean Commodities
Corporation (Massachusetts, U.S.)
Nanotechnologies (Bangalore, India)
- Jiangsu Cnano
Technology Co., Ltd. (Zhenjiang, China)
On the basis of product, the market is bifurcated into
multi-walled carbon nanotubes (MWCNT) and single-walled carbon nanotubes
(SWCNT). On the basis of application, the market is segmented into energy,
electrical & electronics, plastics & composites, and others. Geographically,
the market is classified into Europe, Asia Pacific, North America, Latin
America, and the Middle East & Africa.
Browse In-depth Summary of This
- Highlights the
key trends and the recent technological advancements in the market.
- Assesses the
impact of the COVID-19 pandemic.
Porters’ Five Forces Analysis for an accurate market prediction.
- Provides vital
information on the market’s competitive landscape and key player rankings.
information on recent industry developments.
Drivers & Restraints-
Expansion of Aerospace Industry to Aid Market Growth
The engineers at MIT produced an advanced microprocessor from CNT
transistors in August 2019. It is a faster and greener alternative to its
conventional silicon counterparts. The modern microprocessor is anticipated to
possess ten times more efficiency and speed than silicon. This development is
likely to augment the market’s growth in the forthcoming years.
The aerospace industry uses nanomaterials for their exemplary
properties. The aerospace industry is emphasizing weight reduction of aerospace
components to reduce fuel consumption, and the expansion of the aerospace
industry is likely to stimulate the global carbon nanotubes (CNT) market
Carbon nanotubes find their applications requiring durability,
thermal conductivity, electrical conductivity, and high strength. They are
mainly used in printed circuit boards and semiconductors. Electronics
manufacturing is increasing in Singapore, South Korea, Japan, and China. This
is likely to amplify the market growth in the coming years.
However, the growing concerns over the environmental impact caused
by these nanotubes may hinder the market growth.
Government Initiatives for Green Energy Adoption to Boost Growth
in North America
Asia Pacific is projected to gain maximum market share due to the
low production costs and the wide availability of raw materials. The rising
demand for aerospace, electronics, automotive, and construction industries
across Japan, India, Malaysia, and China is anticipated to boost the growth of the
North America is anticipated to attain striking growth rate in the
global CNT market share. The increasing investment of polymers and composites
research and the rising demand for polymer production to improve the
electrical, thermal, and mechanical properties of bulk products are expected to
boost the growth of the region. Moreover, the government regulations to promote
green energy adoption shall aid market growth.
Europe is expected to witness substantial growth due to stringent
regulations for carbon nanotubes’ production and usage.
Key Players Adopt Ingenious Growth Strategies to Strengthen Market
The market is highly competitive and concentrated. The top market
players are Nonoshell LCC, SHOWA DENKO K.K., Nanocyl, and Arkema SA. The key
players operating in the market emphasize lowering manufacturing costs. They
adopt ingenious growth strategies such as partnerships, acquisitions,
collaborations, mergers, new product launches, technological advancements, and
others to accumulate growth and strengthen their market positions. For
instance, in January 2020, Cabon unveiled its plans to acquire Shenzhen Sanshun
Nano New Materials for USD 115 million. The acquisition will help both
companies to produce carbon blacks and nanostructures for energy storage.
Inc. formed a joint venture with CSS Nanotech to upgrade heavy crude to a
fuel product across regions in Utah and the Middle East.