Chemicals & Materials

Global Carbon Nanotubes Market

April 12, 2022
ID: SR/CH-67
Format:Pdf
Pages:220

Global Carbon Nanotubes Market, By Product (Single-Walled Carbon Nanotubes (SWCNT) and Multi-Walled Carbon Nanotubes (MWCNT)), By Application (Electrical & Electronics, Aerospace & Defense, Plastics & Composites, Energy, Sport, Automotive and Others), and By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)- Global Forecast to 2028.

Description

Carbon Nanotubes Market Overview

The global Carbon Nanotubes market was estimated at USD 6.63 billion in 2021 and projected to reach USD 19.17 billion by 2028, growing at a CAGR of 16.4% in 2022 2028. Growing demand for lithium batteries, solar PV cells, fuel cells, integrated circuits, drug delivery, hydrogen storage, and field emission displays. Increasing commercialization and ramp-up of the installed capacities with technological improvement are the significant factors driving the market’s growth. In addition, single-walled carbon nanotubes are used in military applications also used in EMI reduction, antenna pattern shaping, radio detection, microwave technology and radar cross reduction. Increased usage of carbon nanotubes in the aerospace & defense industry due to its greater properties and capability to simplify the designing of lightweight parts are the key feature driving the carbon nanotubes market growth.

What are Carbon Nanotubes?

Carbon Nanotubes are large cylindrical molecules. Carbon nanotubes are tubular materials, polymers made of carbon with nanometres diameter. Carbon nanotubes have properties such as rigidity, strength, and toughness. Carbon nanotubes can replace other materials in various applications due to their specific properties, such as better thermal conductivity, mechanical strength, and electrical conductivity. Carbon nanotubes are used in various applications such as batteries and capacitors, electronics and semiconductors, chemicals and polymers, healthcare, composites, energy, aerospace and defense.

Growth Driver

Expansion of telecommunication infrastructure

Growing adoption of 5G and Internet of Things (IoT) devices, the demand for advanced electronic components, devices, and materials, increases the demand for portable and efficient network equipment and user equipment. Carbon nanotubes exhibit outstanding mechanical strength, equivalent to graphite. The expansion of communication infrastructure around the world the increasing usage of electronic components and integrated circuits such as diodes and FETs are driving the growth of the carbon nanotubes market.

Opportunity

Growing awareness of renewable energy sources

Increased investment and increased awareness of the use of renewable energy sources will complement the growth opportunity of the global carbon nanotube market. Carbon nanotubes are used in various power generation and storage systems, including lithium batteries, fuel cells, and photovoltaic cells. Carbon nanotubes provide high mechanical lightweight, strength, thermal and electrical conductivity, and high aspect ratio. The adoption of renewable energy sources has increased significantly, and industry players focus on developing advanced energy harvesting and storage systems.

Restraints

Strict government regulatory guidelines

Increasing concerns about the environmental impact of carbon nanotubes have led to strict government regulatory guidelines for these industries, which primarily manufacture nanotubes. Aggregates pose a potential risk to the human body and the environment. Because the product is fibrous, inhalation can cause serious health problems for the human body. The toxicity of carbon nanotubes can affect human health, including enlarged kidney damage and the risk of high blood pressure.

Pre-Covid-19 impact on global Carbon Nanotubes market

Before the covid-19 pandemic, the rising demand for carbon nanotubes due to the surge investments in the production capacity and application in several industries, continuous research and development in a carbon nanotube. Increasing the adoption of low-cost methods for producing high-quality single-walled carbon nanotubes will increase their demand. The growing demand in several applications such as energy, electrical and electronics, automobile, aerospace, consumer goods, and healthcare for carbon nanotubes is the factor that helps to drive the market before the covid pandemic.

Covid-19 impact on global Carbon Nanotubes market

During the covid-19 period, the carbon nanotubes market has been negatively impacted. Due to covid-19 pandemic restrictions, manufacturing facilities were either reduced incapacity or had to be temporarily closed, causing manufacturing and supply chain disruption. Restrictions on movement during the lockdowns created logistics challenges that made it difficult to procure raw materials and transport finished products. The market is evolving and is primarily research-oriented. The containment of a pandemic has influenced research activities and hindered development. China and the United States were some of the hardest-hit countries during the Covid 19 epidemic. Both countries are leading manufacturers and exporters of carbon nanotubes.

Post Covid-19 impact on global Carbon Nanotubes market

Demand for carbon nanotubes is gaining momentum due to the mitigation of lockdowns in major manufacturing industries and the opening of the global carbon nanotube market. The resumption of production activities in major applied industries such as electronics and semiconductors has contributed to the surge in demand for carbon nanotubes. The increasing adoption of carbon nanotubes in healthcare, aerospace, defense and pharmaceutical industries is the factor to boost the market’s growth across the world.

Product Segmental Analysis

Based on product segmental analysis, the global market is categorized into single-walled carbon nanotubes (SWCNT) and multi-walled carbon nanotubes (MWCNT). The multi-walled carbon nanotubes segment is projected to have the largest market share in the product for the carbon nanotubes market. The growth is primarily due to the growing use of multi-walled carbon nanotubes in various end-use industries. They are extensively used in electrical conductivity, conductive transparent, conductive heating films, displays, nanodevices, electrodes, supercapacitors, batteries, solar industries, etc.

Application Segmental Analysis

Based on the application segmental analysis, the carbon nanotubes market is categorized into plastics & composites, electrical & electronics, energy, and others. The electrical & electronics segment held the highest market share in 2021. However, electrical & electronics is anticipated to grow and gain the largest market revenue by 2028. The segment growth is due to Carbon nanotubes being also used to manufacture diodes and field-effect transistors (FETs) with chemical doping and polymer coating. The electronics industry is growing primarily in the printed circuit board and semiconductor sectors worldwide increase product use.

Region Segmental Analysis

Based on the regional segmental analysis, the global carbon nanotubes market is categorized into North America, Asia Pacific, Europe, South America, and The Middle East & Africa. The Asia Pacific accounts for the maximum market share during the forecast period. Increasing demand in the aerospace, automotive, electronics and construction industries in India, China, and Japan is expected to increase demand for polymers and Increased government spending on solar cell manufacturing, coupled with increased solar power production, is expected to boost the growth of local industries.

Competitor Analysis

Companies include Jiangsu Cnano Technologies Co. Ltd., Nanoshell LLC, Arkema SA, Showa Denko KK, Nanocyl SA, Carbon Solution Inc., Napo Nanotechnologies, LG chemical Limited, Hyperion Catalysis International, Klean Commodities, Cobot Corporation, Others prominent players in the global carbon nanotubes market.

Key Stakeholders

Market research and consulting firms
Industry associations
Global carbon nanotubes manufacturing firm
Local governments
Regulatory bodies
Suppliers
Retailers

Recent Development

In 2022 Arkema, Arkema completed the acquisition of Ashland’s Performance Adhesives business, a leader in performance adhesives in the United States.
In 2019, Sabic Acquired a majority stake in black diamond structures, a nana technology company. This acquisition will expand this nanotube business for energy storage applications using Li-ion and lead-acid batteries.

Scope of the Report

Report Attribute	Details
Market size value in 2021	USD 6.63 Billion
The revenue forecast in 2028	USD 19.17 Billion
Growth Rate	CAGR of 16.4% from 2022 to 2028.
Historical data	2017 – 2020
Base Year	2021
Forecast period	2022 – 2028
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Jiangsu Cnano Technologies Co. Ltd., Nanoshel LLC, Arkema SA, Showa Denko KK, Nanocyl SA, Carbon Solution Inc., Napo Nanotechnologies, LG chemical Limited, Hyperion Catalysis International, Klean Commodities, Cobot Corporation, Others Prominent Players.

Market Modelling

By Technology

By Industry Verticals

By Region

North America
Europe
Asia Pacific
South America
Middle East & Africa

Table Of Contents

Methodology

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Frequently Asked Questions (FAQ):

What are carbon nanotubes?

Carbon nanotubes are hexagonal arrangements of hybridized carbon atoms that can be formed by developing one graphene (single-walled carbon nanotube (SWCNT)) or by developing multiple graphene’s (multi-walled carbon nanotubes (MWCNT)).

What is the growth rate of the global carbon nanotubes market?

The global carbon nanotubes market was calculated at USD 6.63 billion in 2021, and it is expected to reach USD 19.17 billion in 2028 with a CAGR of 16.4% during the forecast period of 2022-2028.

What are the growth drivers in the global carbon nanotubes market?

Growing demand for hyper-automation solutions in developing economies due to the transformation of traditional manufacturing industries into fully automated smart manufacturing industries is anticipated to drive the growth of the hyper-automation market.

Who are the major key players in the global carbon nanotubes market?

Which region is expected to have the largest global carbon nanotubes market share?

The Asia Pacific region is expected to have the largest global carbon nanotubes market share.

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