Carbon Nanotubes Market to Hit $15 Billion by 2030, says Global Market Insights Inc.

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Sep 15, 2022, 07:15 ET

Some of the major players operating in the carbon nanotubes industry are Arkema S.A, Nanocyl SA, Continental Carbon Company, Hyperion Catalysis International, Klean Commodities, Future Carbon Gmbh, Raymor Industries Inc., Hanwha Chemical Corporation, Kumho Petrochemical, Showa Denko K.K., Beijing Cnano Technology Limited, Carbon Solutions Inc., Nanoshel LLC.

SELBYVILLE, Del., Sept. 15, 2022 /PRNewswire/ -- According to a new research report by Global Market Insights Inc., the Carbon Nanotubes Market will register a valuation of around USD 15 billion by 2030.

The report predicts carbon nanotubes industry to experience a positive business outlook in the ensuing years as several industries across the globe are benefiting from the advancements in nanotechnology. CNTs are widely adopted in pharmacy and medicine because of their high surface area which is capable of conjugating or adsorbing a broad range of medicinal and diagnostic agents (genes, drugs, vaccines, biosensors, antibodies, etc.). They are known to be an excellent vehicle for drug supply directly to the cells because they can penetrate the cells to boost the uptake of drug molecules and can keep them intact during transportation within the body.

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Hazardous results of using carbon nanotubes to hamper the market growth

Carbon nanotubes have superior material properties which are mostly advantageous, but under certain circumstances, these nanomaterials can cause health hazards. The findings of a recent study suggest that carbon nanotubes may lead to cancer, lesions, and inflammation when they interact with the mesothelial tissues which surround body organs. This factor may likely act as a major restraining factor for the industry demand.

Surging aircraft production to boost the demand for single-wall carbon nanotubes

Based on products, the carbon nanotubes market is fragmented into single-wall carbon nanotubes and multi-wall carbon nanotubes. Of these, the SWCNTs segment is anticipated to capture a substantial market share by 2030, recording a CAGR of more than 20.5% during 2022-2030. The aircraft manufacturing companies require lightweight and strong materials exhibiting improved physical properties. SWCNTs are light in weight and can significantly reduce the overall aircraft weight when used in the production of airplane parts. The growing demand from the aerospace industry is anticipated to amplify the revenues of the single-wall carbon nanotubes in the approaching years.

Browse key industry insights spread across 350 pages with 381 market data tables & 29 figures & charts from the report, "Carbon Nanotubes Market Size By Product (Single-Wall Carbon Nanotubes, Multi-Wall Carbon Nanotubes), Application (Polymers, Energy, Electrical & Electronics, Others), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2022 – 2030" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/carbon-nanotubes-market

Growing usage in power storage systems to boost the industry share from the energy segment

Based on application, the market is segmented as polymers, electrical & electronics, energy, and others. Of these, the energy segment is projected to be valued at more than USD 1.5 billion by 2030. This can be credited to the rapid innovation in the energy industry and the surging adoption of carbon nanotubes in power storage systems. The rising usage of the product in the manufacturing of long wind turbines will also push the industry share from the energy segment through 2030.

Flourishing electronics industry to bolster Europe carbon nanotubes market revenue

European market is anticipated to register considerable gains, depicting a CAGR of over 19% over 2022-2030. The proliferating sales of high-end consumer electronics in the region, along with the increasing inclination of electronic component makers to use CNTs in their final products are favoring the industry outlook. In addition to this, the European automotive industry is also well established which makes it a promising region for the carbon nanotubes industry.

APAC carbon nanotubes market is projected to be worth more than USD 6.5 Billion by 2030, driven by the surging deployment of CNT polymers across various industries along with the emerging electronics sector in the region.

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Product innovations to remain a prominent growth strategy among carbon nanotubes market players

The strategic landscape of the carbon nanotubes industry is inclusive of Hanwha Chemical Corporation, Arkema S.A, Showa Denko K.K., Beijing Cnano Technology Limited, Continental Carbon Company, Hyperion Catalysis International, Klean Commodities, Future Carbon Gmbh, Raymor Industries Inc., Nanocyl SA, Kumho Petrochemical, Carbon Solutions Inc., Nanoshel LLC, among other companies. They are majorly focusing on innovation strategies to develop eco-friendly and sustainable products to reinforce their position in the industry.

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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