The According to a market research report, the 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″, size is projected to reach USD 2.3 billion by 2028 from USD 1.1 Billion in 2023 at a CAGR of 14.6% between 2023 and 2028. Asia Pacific is the largest carbon nanotube (CNT) market that is projected to register the highest CAGR during the forecasted period. This high growth is due to the growing demand from the automotive, electronics & semiconductors end-use industries.
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- 240 Market data Tables
- 70 Figures
- 300 Pages and in-depth TOC on “Carbon Nanotubes (CNT) Market – Global Forecast to 2028”
This report also provides a comprehensive analysis of the companies listed below:
The major Players in carbon nanotube (CNT) market include 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), are the key players in the global carbon nanotube (CNT) market. Toray International Group Limited (Japan), Kumho Petrochemical Co. Ltd. (South Korea), Klean Commodities (Canada), Thomas Swan & Co. Limited (UK), Raymor (Canada) are some of the startups in the global carbon nanotube (CNT) market.
Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the carbon nanotube (CNT) market.
Recent Developments in Carbon Nanotubes Market Industry
- In August 2022, LG Chem To Build Fourth Carbon Nanotube Plant. New plant will be equipped with world’s largest single-line carbon nanotube (CNT) production to deliver 20% higher. production capacity per capita
- In April 2020, LG Chem completed the expansion of the CNTs Yeosu plant. This plant has a capacity of 1,200 tons and costs around 65 billion KRW (around USD 54 million).
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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.
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.
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