Global Carbon Nanotube Market is projected to grow at CAGR 16.59%
Knowledge Sourcing Intelligence announces the publication of a new report on “Global Carbon Nanotube Market – Forecasts from 2020 to 2025” to their offering.
Miniaturization of semiconductor components enabling the more placement of surface mount devices (SMDs) on a printed circuit board (PCB) as a result of high demand in consumer electronics, among others is a few factors that are expected to drive the market growth.
As per the report, the Global Carbon Nanotube Market is expected to reach US$ $9.689 billion by 2025 from US$ 29.615 billion in 2019.
Essentially carbon nanotubes are minuscule allotropes that range within a few nanometers and are known to have an ideal degree of electrical and thermal conductivity, high tensile strength, the ability to endure high temperatures. Besides the previously mentioned drivers, the increasing number of polymers on the account of the rising scope of application pertaining to automotive and construction are expected to augment the growth of the global carbon nanotube market. Moreover, the development of bio-based chemicals are anticipated to increase the availability of raw material facilitating an increased production of carbon nanotubes. Additionally, the demand for carbon nano-tubes is driven by the applications, which are inclusive of but not limited to, solar PV cells, lithium batteries, hydrogen storage, fuel cells, field emission displays, and drug delivery among others. Moreover, the increasing commercialization of technological advancement and its consequent adoption which is not only driving the prices down but also are facilitating the enhancement of quality of the final products are also expected to contribute to the demand for carbon nanotubes during the forecast period. This will also aid in sustaining the upward trend of developing products of more advanced nature with carbon nanotubes. Moreover, the semiconductor industry is witnessing high investment in R&D which is being made to make applications of carbon nanotubes in fields such as structural steel, hair color, glass-ceramic, food materials, and agriculture commercially viable.
Nevertheless, growing concerns about the deleterious effects of nanotubes on the environment and health are expected to restrain the growth of the global carbon nanotube market. High health risks stemming from the toxicity which is associated with the production of carbon nanotubes (CNT) have been identified – especially when inhaled. A few aspects which are expected to be barriers for new entrants in the market are high manufacturing costand the dominance of established players controlling the major carbon nanotubes market share. Nevertheless, with a promising outlook of electronics, thus semiconductors industry during the near future would not only aid in the sustenance of the global carbon nanotube market but also would aid in driving the growth of the same. Additionally, the increasing demand for coating resins from real estate development industries is another core factor which is expected to drive the growth of the market, especially in the APAC region due to the growing investments in the region. Also, due to the characteristic properties like thermal conductivity, significantly large surface-area, mechanical flexibility, excellent electrical, and distinct 1D-tubular structure [pertaining to single-walled carbon nanotubes (SWCNTs)], performance enhancement of lithium batteries is another application where carbon nanotubes are considered the best nanomaterials. With an increasing demand for lithium batteries because of its capabilities to provide the highest energy density per weight that are reportedly facilitating the development of solutions that are of lightweight and high-energy-density nature are also poised to drive the global carbon nanotube market. Above all proactive steps form governments, as exemplified by the Government of Alberta’s [Canada] Technology Innovation and Emissions Reduction (TIER) fund, which among other investments, reported in September 2020, included support for several CCUS projects that is expected to augment the growth of carbon nanotube market around the world. In this regard, it is pertinent to note that a $ 3 million for Carbon Corp’s carbon nanotube technology which is reportedly a process that could process relatively cheaper, more sustainable higher-quality carbon nanotubes made of recycled carbon dioxide.
As a part of the report, the major players operating in the global carbon nanotubes market, which have been covered are Arkema, Arry International Group LTD., Carbon Solutions, Cheap Tubes Inc., Hanwha Chemical Corp., Jiangsu Cnano Technology Limited, Kumho Petroleum, Nano-C, Showa Denko K.K. and TORAY INDUSTRIES, INC.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-carbon-nanotube-market
This report segmented the global carbon nanotubes market on the basis following terms
By Product Type
- Single-Walled Carbon Nanotubes
- Multi-Walled Carbon Nanotubes
- Chemical & Energy
- Electronics & Batteries
- North America
- South America
- United Kingdom
Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
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