Carbon Nanotubes Market Worth USD 13.65 Billion Forecast 2026 | Says Fortune Business Insights™
Companies covered in carbon nanotubes market are Arkema SA, Nanocyl SA, Nanoshell LLC, Carbon Solutions, Inc., Hyperion Catalysis International, SHOWA DENKO K.K., Klean Commodities, and other players profiled
Pune, India, Oct. 21, 2021 (GLOBE NEWSWIRE) — According to Fortune Business Insights™, The global carbon nanotubes market size was USD 4.56 billion in 2018 and is projected to reach USD 13.65 billion by 2026, exhibiting a CAGR of 15.3% during the forecast period.
Extensive Usage in Aerospace Industry to Augment Growth
In the aerospace industry, CNT is used the most as the aircraft manufacturers are focusing on developing stronger, long-lasting, and tougher components. They are doing so because of the high risk that is associated with flying. The industry is nowadays aiming to lower the weight of aircraft components for reducing the operational cost, as well as fuel consumption.
Nanomaterials are mostly used to revamp the properties of aircraft components for improving the overall performance. Apart from that, several professionals consisting of engineers and manufacturers are creating new methods for introducing aerospace-grade composites. However, CNT is toxic in nature. If inhaled, it can cause high blood pressure and kidney damage in humans. This is likely to obstruct the carbon nanotubes market growth in the coming years.
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Fortune Business Insights™ lists out all the organizations present in the CNT market. They are as follows:
- Arkema SA
- Nanocyl SA
- Nanoshell LLC
- Carbon Solutions, Inc.
- Hyperion Catalysis International
- SHOWA DENKO K.K.
- Klean Commodities
- Other key players
Rising Usage of CNT to Favor Growth of the Electrical & Electronics Segment
Based on application, the market is grouped into energy, electrical and electronics, plastics and composites, and others. Amongst these, the electrical and electronics segment held a 10.6% CNT market share in 2018. This growth is attributable to the increasing usage of CNT to make various electronic devices. It is especially used to make field-effect transistors and diodes. Also, CNT possesses many features, such as good conductivity and excellent optoelectronic characteristics. It would also contribute to the growth of this segment.
Rising R&D Activities on Polymers to Drive Growth in North America
Geographically, the market is grouped into Asia Pacific, North America, the Middle East and Africa, Latin America, and Europe. Out of these, North America generated USD 1,278.7 million in 2018 in terms of carbon nanotubes market revenue. This growth is attributable to the increased funding provided by many government and private agencies to conduct research and development activities on polymers and composites. Besides, the U.S. is considered to be a major manufacturing base of PEEK and PEI polymers. These are gaining more popularity as they are capable of remolding the electrical, thermal, and mechanical properties of numerous products.
Asia Pacific, on the other hand, consists of significant contributors, such as South Korea, China, Japan, and India. In China, the low cost of production process and availability of raw material in abundance are likely to boost growth in the coming years. Additionally, the country is one of the largest consumer electronic manufacturing hubs. Europe is set to showcase good growth owing to the rising imposition of various strict rules regarding the adoption of CNT by the European Commission.
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Key Players Focus on Strategic Collaboration to Accelerate Sales
Reputed companies operating in the market are mainly focusing on joining hands with the other local companies and start-ups to create joint ventures and unique products. It is aiding them in broadening their geographic presence and in improving sales worldwide.
Major Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends in Global Market
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Key developments: Acquisition, Collaboration, Strategic Partnership, and Joint Venture
- Global Carbon Nanotubes (CNT) Market Analysis, Insights and Forecast – By Product, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Multi-walled carbon nanotubes (MWCNT)
- Single-walled carbon nanotubes (SWCNT)
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Below is a key industry development:
January 2019: Vivakor, Inc., a provider of clean technology solutions headquartered in the U.S., collaborated with CSS Nanotech, an innovative nanotechnology startup company. This joint venture would enable the former in creating a new carbon nanotube technology for modernizing heavy crude to a fuel product.
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