IMARC Group, a leading market research company, has recently releases report titled “Carbon Nanotubes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global carbon nanotubes market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Carbon Nanotubes Market?
The global carbon nanotubes market size reached US$ 4.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.7 Billion by 2028, exhibiting a growth rate (CAGR) of 16.81% during 2023-2028.
Carbon nanotubes (CNTs) refer to small cylindrical-shaped allotropic carbon structures manufactured under chemical vapor deposition. They possess astounding electronic, mechanical, chemical, and optical properties and are stronger than steel. They are manufactured by rolling single or multiple layers of graphene sheets of one atom thickness into a tube-like structure. They are elastic, conductors of heat, expand on heating, and contain a high thermal capacity. They can be transformed into sophisticated biosensing and biocompatible drug-delivery systems for targeting and eliminating tumor cells. They are also used to reinforce various materials, such as plastics and metals, to make them stronger and more resistant to damage. They are employed to manufacture various energy storage devices that are smaller, lighter, and more efficient than traditional storage devices. They are incorporated into filtration systems to separate particles that are bigger than their diameter and used to trap smaller-sized ions from a solution. They are also utilized for storing hydrogen in cryogenic temperatures as they possess large surface areas and small mass concentrations. They are employed in the production of various sports equipment, such as tennis rackets, golf clubs, and snowboards, to increase their strength. Furthermore, as CNTs are lightweight and provide enhanced chemical stability, their demand is rising around the world.
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What are the growth prospects and trends in the carbon nanotubes industry?
At present, the increasing demand for CNTs in manufacturing actuators and electromagnetic shields represents one of the primary factors influencing the market positively. Besides this, the rising investments in drug development activities to treat various forms of cancers, such as breast, lung, blood, brain, prostate, kidney, liver, and cervical, and other life-threatening complications, are propelling the growth of the market.
In addition, the growing utilization of CNTs in the aerospace industry to improve the performance of aircraft, manufacture lightweight plane parts, and reduce the expenditure of fuel in operating aircraft is offering a favorable market outlook. Apart from this, the increasing demand for CNTs for the production of circuit boards and semiconductors used in various electronic devices, such as televisions, computers, mobile phones, and tablets, is contributing to the growth of the market.
Additionally, the rising utilization of CNTs to build modern microprocessors and transistors is supporting the growth of the market. Moreover, governing agencies of various countries are encouraging the utilization of renewable energy sources, such as solar, wind, and hydel power, to minimize the over-expenditure of natural resources and lower the levels of pollution, which is bolstering the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
- Multi Walled Carbon Nanotubes (MWCNT)
- Single Walled Carbon Nanotubes (SWCNT)
Breakup by Method:
- Chemical Vapor Deposition (CVD)
- Catalytic Chemical Vapor Deposition (CCVD)
- High-Pressure Carbon Monoxide Reaction
Breakup by Application:
- Electrical and Electronics
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
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, OCSiAl, Ossila Ltd., Raymor Industries Inc. and Showa Denko K.K.
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