Carbon Nanotubes Market size worth $ 20.31 Billion, Globally, by 2028 at 17.27% CAGR: Verified Market Research®
The primary trend emerging in the market is continuous research and development. Also, rising polymer production on account of the rising application scope of the construction and automotive industries positively impacts the growth of the market
JERSEY CITY, N.J., Sept. 22, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Carbon Nanotubes Market" By Type (Single-Walled Carbon Nanotube (SWCNT) and Multi-Walled Carbon Nanotube (MWCNT)), By Application (Plastics & Composites, Electrical & Electronics, Energy, And Others), and By Geography. According to Verified Market Research, the Global Carbon Nanotubes Market size was valued at USD 5.67 Billion in 2020 and is projected to reach USD 20.31 Billion by 2028, growing at a CAGR of 17.27% from 2021 to 2028.
An increase in the Aerospace Industry is likely to Aid Market Growth globally for CNTs. The various risks in flying, most aircraft manufacturers strive to make aerospace components more rigid, long-lasting, and robust. The aerospace industry focuses on reducing the weight of the parts to lower fuel efficiency and aircraft operating expense. A modern and advanced aircraft's fuselage is made from various sheets of multiple composite materials—nanomaterials often used in the aerospace sector for enhanced properties, improving overall airplane performance. Professionals such as manufacturers and engineers are developing methods for producing aerospace-grade composites.
Growing electronics manufacturing in China, Japan, and South Korea shall drive global market growth. The growing electronics industry, mainly in printed circuit boards and semiconductors, has resulted in the increasing usage of CNT around the globe. Fast technological transformations and novel product innovation shall increase the demand for the electronics and semiconductors industry.
Furthermore, the rising composite application in the defense and automotive industry and the rapid technological advancements will further offer various growth opportunities for the carbon nanotubes market in the forecast mentioned above. However, the rising environmental concern, health and safety issues, and high purity carbon nanotubes leading to increasing product cost may act as critical restraints for global carbon nanotubes market growth.
Key Developments inCarbon Nanotubes Market
In March 2021, Cabot Corp. had launched a new ENERMAX6 in its series of carbon nanotubes. This ENERMAX6 can enhance the battery's performance at a lower loading, allowing a higher energy density of the battery.
In April 2020, Fujitsu Laboratories Ltd. announced the world's first adhesive sheet composed of carbon nanotubes. These adhesive sheets are considered flexible, making them easy to cut and handle properly on different surfaces. Additionally, this technology could bring practical improvements along with cost-effectiveness for power modules for electric vehicles.
In November 2020, NAWA America, a provider of robust composites for automotive, aerospace, renewable energy, among others. It had planned to launch its new NAWAStitch material that will comprise a thin film containing vertically aligned carbon nanotubes arranged perpendicular to the carbon fiber layers reinforcing the interface between the layers.
The major players in the market are Nanocyl SA, CHASM Advanced Materials Inc., Arkema SA, Cabot Corporation, Nanoshell LLC, Klean Commodities, SHOWA DENKO K.K., Jiangsu Tiannai Technology Co. Ltd., Carbon Solutions, Inc., Hyperion Catalysis International, and Nanoshell LLC.
Verified Market Research has segmented the Global Carbon Nanotubes Market On the basis of Type, Application, and Geography`.
Carbon Nanotubes Market, By Type
Single-Walled Carbon Nanotube (SWCNT)
Multi-Walled Carbon Nanotube (MWCNT)
Carbon Nanotubes Market, By Application
Plastics & Composites
Electrical & Electronics
Carbon Nanotubes Market by Geography
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
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