Knowledge Sourcing Intelligence announces the publication of a new report on “Global Carbon Nanotube Market - Forecasts from 2020 to 2025" to their offering.
Carbon Nanotubes (also referred to as CNTs) can be defined as large cylindrical molecules which are made up of hybridized carbon atoms arranged in a hexagonal fashion. This can be achieved either by rolling a single graphene sheet, which forms single-walled carbon nanotube (or simply SWCNTs), or by rolling up more than one graphene sheets. Since this method uses multiple graphene sheets, the carbon nanotubes obtained are known as multiwalled carbon nanotubes, (commonly called MWCNTs). What is impressive about these nanotubes is that although these are just one-tenth the weight of steel, these are known to be even stronger than diamonds.
According to the report, the Global Carbon Nanotube Market is projected to increase at a CAGR of 16.59% over the forecast period 2019-2025.
The global carbon nanotube market growth is majorly attributed to rapid growth of industries like healthcare, aerospace, and military and defence among many others. Rapid growth of these sectors is adding momentum to the pumping of investments into research and development by players across them. Since carbon nanotubes are known to possess astounding properties which include very high thermal and electrical conductivity, very high elasticity and flexibility, and super tensile strength among many others, these tubes are fit for use in virtually any application which requires materials possessing any of these properties. For instance, even though graphene continues to gain popularity on account of its physical and chemical properties, and many other two-dimensional (2D) materials continue to gain traction in the electronics sector, single-walled carbon nanotubes (SWCNTs) of semiconducting nature are still seen as fairly strong candidates to replace conventional silicon electronics in applications like the manufacturing of next generation of ultra-scaled and super high-performance thin-film transistors and more advanced opto-electronic devices. Carbon Nanotubes are witnessing a continuously growing demand from many of the manufacturing sub-sectors on account of the impressive tensile strength, light weight and and stability to heat this material offers. Aircrafts and super cars are already witnessing some adoption of CNTs and these sectors are expected to remain one of the major end users of this material. Sports goods, including frames of bicycles, golf clubs and others, smart textiles and other manufacturing sub-sectors are showing a continuous increase in the adoption of carbon nanotubes, thus propelling the market growth. Ongoing research and development in the field of prosthetics is increasing the uptake these materials for this application. As this trend continues, many more applications for CNTs are expected to emerge, thus opening doors to immense growth opportunities for the market.
North America and Europe together account for a significant share in the global carbon nanotube market
Geographically, the global carbon nanotube market has been segmented into North America, South America, Europe, Middle East and Africa, and Asia Pacific. North America and Europe together account for a significantly large market share on account of presence of state-of-the-art research infrastructure in these regions. Furthermore, these regions are known to be early adopters of new technologies. Increasing uptake of carbon nanotubes by various end-use sectors in these regions for various applications is driving the market growth. The Asia Pacific carbon nanotube market is expected to grow at a good CAGR over the projected period.
The major players covered as part of the report are Nano-C, Cheap Tubes Inc., Arkema, Carbon Solutions, Kumho Petroleum, Hanwha Chemical Corp., Arry International Group LTD., TORAY INDUSTRIES INC., Showa Denko K.K., and Jiangsu Cnano Technology Limited.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-carbon-nanotube-market
This report has segmented the global Carbon Nanotube marketon the basis of following terms: