Global Single-Walled Carbon Nanotubes Market Size Will Reach USD 1,014 Million by 2027|CAGR: 32.1%: Astute Analytica

NEW DELHI, March 29, 2022 /PRNewswire/ -- The study undertaken by Astute Analytica foresees a tremendous growth in revenue of the market for global single-walled carbon nanotubes market from US$ 191.1 Million in 2021 to US$ 1,014 Million by 2027. The market is anticipated to grow at a CAGR of 32.1% during the forecast period 2022-2027. Single Walled Carbon Nanotubes are defined as one dimensional, cylindrically nanostructure of carbon molecules which are shaped allotropes of carbon that have a high surface area and aspect ratio. Applications of single walled carbon nanotubes are widely used in various industries including aerospace & defense, polymers, electrical & electronics, energy, sports, automotive and chemicals among others because of their electrical, thermal and physical properties. CNTs or their derivatives exhibit excellent electrical properties for use in base materials such as polymers and reinforcement. Moreover, CNTs offer lucrative potential for use in electricals & electronics applications such as photovoltaics, sensors, semiconductor devices, displays, conductors and others.

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Based on type, the armchair form carbon nanotube segment is estimated to have the highest market share during the forecast period. While, chiral form carbon nanotube is expected to grow at the highest CAGR during forecast period. Moreover, on the basis of synthesis process, chemical vapor deposition segment dominated the market in 2021. Whereas, high pressure carbon monoxide is projected to grow at the highest CAGR during the forecast period. Furthermore, in terms of application, the conductive polymer composites segment is estimated to have the highest market share during the forecast period owing to the growing demand for polymers across the construction as well as automotive industry. In addition to this, by end users, biomedical segment is projected to grow at the highest CAGR over forecast period due to the use of CNTs in biological systems that brings advancement in medical science especially in diagnostics, biosensing, drug delivery and disease treatments. Moreover, based on region, Asia Pacific is expected to project the highest share and CAGR in the global single-walled carbon nanotubes market.

Market Dynamics and Trends

Drivers

Growth in demand of SWCNT in end-use industries and increase in demand for renewable energy sources will boost the market during forecast period. CNTs exhibit remarkable physio-chemical properties such as electrical, optical and thermal conductivity; high tensile strength; and chemical reactivity, which make them ideal for use in the aerospace & defense sector. Also, conductive plastics based on carbon nanotubes have been widely used in the electronic industry for electrostatic discharge protection and prevention. Moreover, rise in environmental concerns due to increase in use of petroleum products and coal as a major energy source has increased the adoption of renewable energy sources, thereby fueling the adoption of CNTs in these industries.

Restraints

Production scale-up challenges and the resultant high prices and increase in demand for inorganic and boron nitride nanotubes are the major restraining factors faced by SWCNT, which hamper the growth of the market. The high cost of preparing suitable conditions for carbon nanotube growth and its ultimate commercial scale-up constraints increase the production costs of carbon nanotubes. Therefore, high cost of SWCNTs has restricted their penetration in industries, which is estimated to adversely affect the growth of the global carbon nanotubes market. Moreover, the widespread adoption of inorganic and boron nitride is expected to restrict the growth of the carbon nanotubes market in future.

Trends

Factors such as biomedical applications of carbon nanotubes, commercial release of CNT transistors and increase in scope of applications for carbon nanotubes driven by R&D is projected to offer lucrative trends in the global carbon nanotubes market.

Regional Analysis

US holds a major share in term s of revenue in the North America Single-Walled Carbon Nanotubes Market in 2021

U.S. dominated the North America single-walled carbon nanotubes market in 2021. Whereas, Mexico is expected to project the highest CAGR in the North America market during the forecast period. Based on end users, electronics & semiconductors segment generates majority of the revenue in the single-walled carbon nanotubes industry in North America in 2021 due to the use of SWCNT in energy sector. Moreover, conductive polymer composites application segment contributed the major share in the North American market in 2021.

Poland is expected to project the highest CAGR in the Europe Single-Walled Carbon Nanotubes Market during the forecast period

Germany holds a major share in terms of revenue in the market in 2021. Whereas, Poland is expected to witness the highest CAGR during the forecast period. By end users, biomedical segment is projected to grow at the highest CAGR over forecast period due to the use of CNTs in biological systems that brings advancement in medical science especially in diagnostics, biosensing, drug delivery and disease treatments. Moreover, on the basis of synthesis process, chemical vapor deposition segment dominated the Europe single-walled carbon nanotubes market in 2021.

China held the major share in the Asia-Pacific Single-Walled Carbon Nanotubes Market in 2021

Based on country, China held the major share in the APAC market in 2021. Whereas, Japan is expected to project the highest CAGR in the APAC single-walled carbon nanotubes market during the forecast period owing to the presence of key market players and end use industries such as electrical & electronics and automotive in the marketplace. Moreover, based on type, the armchair form carbon nanotube segment is estimated to have the highest market share during the forecast period.

South Africa is anticipated to hold the highest CAGR during forecast period in the MEA Single-Walled Carbon Nanotubes Market

Based on country, South Africa is expected to project the highest CAGR in the MEA single-walled carbon nanotubes market during the forecast period owing to the increasing construction activities in the region. Whereas, rest of MEA held the major share in the Middle East & Africa single-walled carbon nanotubes market in 2021. Moreover, sensor applications are expected to project the highest CAGR over forecast period.

Brazil held the major share in the South America Single-Walled Carbon Nanotubes Market in 2021

Argentina is expected to project the highest CAGR in the South America single-walled carbon nanotubes market during the forecast period. Whereas, Brazil dominated the market in 2021. Based on synthesis process, the chemical vapor deposition segment dominated the market in 2021. Whereas, high pressure carbon monoxide is projected to grow at the highest CAGR during the forecast period.

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Competitive Insight

Global Single-Walled Carbon Nanotubes Market is highly competitive in order to increase their presence in the marketplace. Some of the key players operating in the global single-walled carbon nanotubes market include OCSiAl, Thomas Swan & Co. Ltd, KH Chemicals, Cnano Technology Limited, Continental Carbon Nanotechnologies, Inc, Zeon and Chasm among others.

Segmentation Overview

Global Single-Walled Carbon Nanotubes Market is segmented based on type, synthesis process, application, end user and region. The industry trends in global single-walled carbon nanotubes market are sub-divided into different categories in order to get a holistic view of the global marketplace.

Following are the different segments of the Global Single-Walled Carbon Nanotubes Market:

• By Type segment of the Global Single-Walled Carbon Nanotubes Market is sub-segmented into:
• Armchair Form Carbon Nanotube
• Zigzag Form Carbon Nanotube
• Chiral Form Carbon Nanotube
• By Synthesis Process segment of the Global Single-Walled Carbon Nanotubes Market is sub-segmented into:
• Arc Discharge
• Laser Ablation
• Chemical Vapor Deposition
• High Pressure Carbon Monoxide
• Others
• By Application segment of the Global Single-Walled Carbon Nanotubes Market is sub-segmented into:
• Conductive Adhesives
• Conductive Polymer Composites
• Fire Retardant Plastics
• Li-ion Battery Electrodes
• Metal Matrix Composites
• Structural Polymer Composites
• Sensor Applications
• Others
• By End User segment of the Global Single-Walled Carbon Nanotubes Market is sub-segmented into:
• Aerospace & Defence
• Automotive
• Electronics & Semiconductors
• Energy
• Chemicals
• Sporting Goods & Leisure products
• Biomedical
• Other Industrial Applications
• By Region segment of the Global Single-Walled Carbon Nanotubes Market is sub-segmented into:
• North America
• The U.S.
• Canada
• Mexico
• Europe
• The UK
• Germany
• France
• Italy
• Spain
• Poland
• Russia
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Argentina
• Brazil
• Rest of South America

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