The carbon nanotube market is projected to grow at a CAGR of 17.64% to reach a market size of US$12.022 billion by 2027, up from US$3.856 billion in 2020. Carbon nanotubes are minuscule allotropes of nanometer size and possess properties such as good thermal and electric conductivity, high tensile strength, and the ability to withstand high temperatures. Nanotubes are widely used in appliances like medical, automotive, polymers, defense, energy, electronics, etc. Carbon nanotubes have superior electric conductivity and smaller diameters, which makes them capable of replacing steel in various appliances. Carbon nanotubes are used in turbine blades to enhance mechanical strength and display screens such as televisions, mobile phones, etc. The carbon nanotube is segmented into single-walled and multiple-walled carbon nanotubes.
Carbon Nanotubes are being researched widely for developing improvised appliances in health, defense, aircraft components, etc. The need for these tubes is rising as manufacturing operations expand in developing nations like China, Korea, and Japan. Initiatives by the government to produce electricity in a more environmentally friendly manner, such as the Government of India's National Solar Mission, which aims to enhance India's output of solar power and promote new investments in solar manufacturing, will help with the growing demand for carbon nanotubes for solar cells. The expanding consumption of carbon nanotubes is also fueled by the expanding polymer industries in China and India. The demand for these tubes is rising due to their high application in engineered polymers in the construction and automotive industries.
The global carbon nanotube market is regionally classified into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. The research also examines 15 nations from these areas, providing a thorough analysis and prognosis and information on current market trends and business prospects that each of these nations offers to manufacturers. Asia-Pacific sees a rise in the market for electronic products due to China. Goods are made of electronics, including tablets, OLED TVs, and smartphones. They have the highest demand in the consumer electronics segment because of an increase in the disposable income of the middle-class population, thereby contributing to the increasing demand for carbon nanotubes during the forecast period.
The COVID-19 pandemic has curtailed the market's ongoing research and development operations. The low traffic across all industries is detrimental to market revenue. This has also been affecting the electronics industry's need for CNT. The electronics market did, however, rebound in 2021 as a result of fewer lockdowns across various nations, as shown from the start of the second half of 2020. The global economy has become much more intertwined in recent years. Negative consequences of the trade war include higher unemployment rates, decreased demand for imported products and services, and disruptions to the global supply chain, to name just a few. Due to historically low-interest rates, significant drops in equity and commodity prices, and heightened risk aversion, the financial market has become more volatile Due to historically low interest, the financial market has become increasingly volatile as a result of rising interest rates, sharp declines in equity and commodity prices, and increased risk aversion. The degree of consumer and business confidence has also significantly decreased.
|Market Size Value in 2020||US$3.856 billion|
|Market Size Value in 2027||US$12.022 billion|
|Growth Rate||CAGR of 17.64% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Product Type, Application, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Nano-C, Cheap Tubes Inc., Arkema, Carbon Solutions, Kumho Petroleum, Hanwha Chemical Corp., Arry International Group LTD., TORAY INDUSTRIES, INC., Showa Denko K.K., Jiangsu Cnano Technology Limited|
|Customization Scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of the carbon nanotube market?
A1. Carbon Nanotube Market was valued at US$3.856 billion in the year 2020.
Q2. What will be the global carbon nanotube market size by 2027?
A2. The carbon nanotube market is projected to reach a market size of US$12.022 billion by 2027.
Q3. What are the growth prospects for the carbon nanotube market?
A3. The global carbon nanotube market is projected to grow at a CAGR of 17.64% over the forecast period.
Q4. How is the global carbon nanotube market segmented?
A4. The carbon nanotube market has been segmented by product type, application, and geography.
Q5. What factors are anticipated to drive the carbon nanotube market growth?
A5. The demand for carbon nanotubes is rising due to their high application in engineered polymers in the construction and automotive industries.
Hanwha Chemical Corp.
Arry International Group LTD.
TORAY INDUSTRIES, INC.
Showa Denko K.K.
Jiangsu Cnano Technology Limited
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