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(Medical-NewsWire.com, May 03, 2024 ) The report "Carbon Nanotubes Market by Type (Single Walled & Multi Walled), End-use Industry (Electronics & Semiconductors, Chemical Materials & Polymers, Structural Composites, Energy & Storage, Medical), Method, and Region - Global Forecast to 2028" The carbon nanotube (CNT) market accounted USD 1.1 billion in 2022 and is projected to reach a market size of USD 2.3 billion by 2028 at a CAGR of 14.6% during the forecast period.
Browse in-depth TOC on "Carbon Nanotubes Market”
348 - Market Data Tables
57 - Figures
278 - Pages
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MWCNT type accounted for a largest share of the overall carbon nanotube (CNT) market, in terms of volume, in 2022. Concentric carbon tubes or cylinders make up MWCNT. Typically, carbon end-caps are used to close the ends of the tubes. The "double-wall tube," "herringbone," and "bamboo" structures are more MWCNT variations. Compared to SWCNTs, MWCNTs are simpler to make in large quantities. MWCNTs are employed in conductive transparent electrodes, conductive heating films, conductive nano inks, displays, chemical sensors, super batteries, supercapacitors energy storages, solar power cells, thermal interface material, and other applications because of their strong electrical conductivity.
In terms of volume, the market for energy & storage is the largest segment in overall CNT market, in 2022. Lithium-ion batteries are in high demand for automobiles as they are lightweight and have a high energy density. These batteries are used in hybrid automobiles, notebook computers, and cell phones because they have the maximum energy density per weight.
The market for lithium-ion batteries is anticipated to be driven by the rising use of portable electronics and plug-in hybrid electric vehicles (PHEV). This is anticipated to fuel the market for carbon nanotubes in the energy & storage area. As several nations have taken steps to reduce CO2 emissions and maintain a greener environment, several automakers have begun concentrating on Electric Vehicles.
The lithium-ion batteries is the largest sub-application of energy & storage end-use industry segment of carbon nanotube (CNT) market. Lithium-ion batteries are becoming more and more popular in cars that need solutions with high energy density and lightweight. These batteries are utilized in hybrid cars, notebook computers, and cell phones because they have the maximum energy density per weight. Three basic parts make up lithium batteries, which are widely used in portable electronics: an electrolyte, an electrically conductive substance through which charged particles or ions can easily move, two electrodes (referred to as the anode or negative electrode), and the cathode, or positive electrode. These batteries' electrodes are made of CNTs. CNTs are utilized as an electrode material in capacitors. CNTs have a high density and high orientation, which reduces the internal resistance of the capacitor..
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Asia Pacific is the largest carbon nanotube markets. The key end-use industries for CNTs include the automotive, building & construction, and electrical & electronics sectors. Vehicle sales are anticipated to rise in the APAC area as a result of the expansion of the region's road and transport networks and government efforts to promote industrial and infrastructure development. This is anticipated to have a positive effect on the market during the projected period. Due to growing industrial production over the past five years, China is currently leading the world in the demand for CNTs. The shift of manufacturing operations for the chemical, automotive, and aerospace sectors from established markets to developing nations is another factor driving the industry.
Carbon Nanotubes Market Key Players
The key players following the strategies between 2019 to 2022, LG Chemicals Limited (South Korea), Cabot Corporation (US), Resonac Corporation (Showa Denko K.K.) (Japan), Jiangsu Cnani Technology (China), Timesnano (Chengdu Organic Chemicals Co. Ltd.) (China), Nanocyl SA (Belgium), Arkema SA (France), Sumitomo Corporation (Japan), Cheap Tubes, Inc. (US), Hanwha Corporation (South Korea). The companies are majorly following investment & expansion as the strategy to grow and expand the market.
Globally, LG Chemical Limited is a top producer of IT electronics materials, petrochemicals, and energy solution materials. The business caters to the semiconductor and circuit board material sectors while producing CNTs under the advanced material segment. Additionally, it uses its numerous marketing subsidiaries in Asia, Americas, and Europe as well as established R&D networks to serve its clients globally with distinctive goods.
Cabot corporation is specialized in chemicals and performance. The company is headquartered in Boston, Massachusetts, US.
The company’s businesses offers a wide range of products and solutions to their customers worldwide, serving key industries such as infrastructure, transportation, environment, and consumer. The company operates through four business segments, namely reinforcement materials, purification solutions, performance chemicals, and others. Its international network consists of 37 manufacturing facilities in 20 different nations.
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