The latest report by IMARC, titled “Carbon Nanotubes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the global carbon nanotubes market reached US$ 4.05 Billion in 2021. Carbon nanotubes (CNTs) refer to cylindrical molecules of carbon with sizes to the scale of nanometers. They possess a hexagonal arrangement of hybridized carbon atoms formed by rolling a graphene sheet. They are generally available in multi and single-walled variants. This product is extensively used for device modeling and energy storage systems, sporting goods, thin-film electronics, water filters and thermal conductivity, actuators, and electromagnetic shields. CNTs are lightweight, small, highly flexible and capable of penetrating cell membranes. They exhibit tensile strength, durability, high thermal conductivity, electrical conductivity, and temperature resistance. In recent years, CNTs have gained momentum due to their wide adoption in numerous industry verticals, including healthcare, aerospace and defense, energy, textiles, energy, and automotive.
Global Carbon Nanotubes Market Trends:
One of the primary factors driving the market is the exponential growth in the aerospace industry across the globe. Additionally, CNTs are extensively used in fuselages and aircraft wings for preserving aircraft icing, minimizing satellite weight and protecting lighting systems, thereby creating a positive market outlook. Other than this, multi-walled variants are used for cathode-ray lighting elements and water processing, which is positively influencing the market growth. Besides this, constant product innovations are being made, including the launch of high-purity CNTs that are environment-friendly and made by the chemical vapor disposition of camphor. In line with this, these nanotubes are widely used to manufacture drug delivery and biosensing systems, which are utilized for the treatment of diseases and monitoring health. Other major growth-inducing factors include the usage of the product in the electronics industry to produce semiconductor devices and the rising demand for CNTs to manufacture premium-quality fashion apparel and bulletproof jackets. Looking forward, IMARC Group expects the market value to reach US$ 10.8 Billion by 2027, expanding at a CAGR of 17.20% during the forecast period (2022-2027).
- Based on the product, the market has been bifurcated into multi walled carbon nanotubes (MWCNT) and single walled carbon nanotubes (SWCNT).
- On the basis of the method, the market has been segregated into chemical vapor deposition (CVD), catalytic chemical vapor deposition (CCVD), high-pressure carbon monoxide reaction, and others.
- Based on the application, the market has been divided into polymers, electrical and electronics, energy, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Arkema S.A., Cabot Corporation, Carbon Solutions Inc., Cheap Tubes Inc., Jiangsu Cnano Technology Co. Ltd., Kumho Petrochemical Co. Ltd., LG Chem Ltd. (LG Corporation), Nanocyl SA, OCSiAI, Ossila Ltd., Raymor Industries Inc. and Showa Denko K.K.
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