Carbon Nanotube Market Share, Scope Analysis 2023-2029
The global carbon nanotube market size was valued at USD 902 million in 2021 and is poised to grow at a significant CAGR of 14.8% during the forecast period 2023-29. The primary factors that drive the market are the development and introduction of structural polymer complexes which are lightweight and highly conductive nature of the material which is used as fillers in electromagnetic interference shielding material. The global carbon nanotube market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share. In March 2021, the new ENERMAX 6 carbon nanotube series was launched by Cabot Corporation. In April 2021, a carbon nanotube manufacturing plant was launched by LG Chem in Korea to manufacture batteries required for electric vehicles.
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The global carbon nanotube market segmentation:
- By Product Type: Single-Walled Carbon Nanotubes and Multi-Walled Carbon Nanotubes
- By Methods: Chemical Vapor Deposition, Catalytic Chemical Vapor Deposition, High-Pressure Carbon Monoxide Reaction, and Others
- By End Users: Electronics & Semiconductors, Energy & Storage, Chemical Material & Polymers, Medical, Structural Composites Applications, and Others
Based on product type, multi-walled carbon nanotube holds the highest market share. The major factor for the rise of this segment is the increasing demand for applications, such as electrical devices, optical devices, and medical & healthcare. These factors can drive the global carbon nanotube market growth. Apart from this, the rising electronics and semiconductor business and the multi-walled carbon nanotube provides good electrical conductivity in conductive heating films, conductive transparent electrodes, nanodevices, conductive nano inks, super batteries, displays, chemical sensors, solar power cells, supercapacitors energy storages, and thermal interface material can also drive the growth of the market.
Asia Pacific Carbon Nanotube Market
Asia Pacific region is expected to grow significantly in the global carbon nanotube market over the forecast period. The Asia Pacific region is expanding as a result of improved end-use applications, for example, the use of lithium-ion batteries in laptops and mobile phones. The swing in the automotive business toward sustainable and clean automobiles has led to the acceptance of electric vehicles. These electric vehicles use lithium-ion batteries and composites where carbon nanotubes can be used. These factors can propel the market further.
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Key players’ profiles in the Carbon Nanotube market report are Arkema, Carbon Solutions, Inc., Showa Denko KK, Nanocyl SA, Nanoshell LLC, Hyperion Catalysis International, Klean Industries Inc., Continental Carbon, CHASM Advanced Materials, and Nano-C, Inc.
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