New York, March 29, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Multi-Walled Carbon Nanotubes Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Electrically Conductive Polymers, Structural Composites, Concrete Additives, Batteries, Research & Development, and Others)”, the global multi-walled carbon nanotubes market growth is driven by expanding applications of multi-walled carbon nanotubes and the increasing demand for lightweight vehicles. However, various health hazards caused by these nanotubes restrict the market from flourishing.
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| Report Coverage | Details |
| Market Size Value in | US$ 5.25 Billion in 2021 |
| Market Size Value by | US$ 10.74 Billion by 2028 |
| Growth rate | CAGR of 10.8% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 151 |
| No. Tables | 58 |
| No. of Charts & Figures | 63 |
| Historical data available | Yes |
| Segments covered | Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Multi-walled Carbon Nanotubes Market: Competitive Landscape and Key Developments
Arkema; Showa Denko KK; Hyperion Catalysis International; Klean Industries; Kumho Petrochemical; LG Chem; Nanocyl SA; Ossila Ltd; Raymor Industries Inc; Tokyo Chemical Industry Co. Ltd.; Ocsial; Eden Innovations Ltd.; and Beyond Pacific Holdings, LLC are a few key players operating in the multi-walled carbon nanotubes market. Leading market players adopt various business strategies, such as mergers and acquisitions, to expand their geographic presence and consumer base across the world.
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North America dominated the global market in 2020. The region is expected to hold the largest market share during the forecast period. The multi-walled carbon nanotubes market trends in North America are influenced by the wide range of commercialized carbon nanotube (CNT) applications and increased research and development (R & R&D) activities to find new applications. Along with this, the presence of global companies in the region is providing several growth opportunities for the market players. These players are entering into strategic collaborations to develop new products, which is likely to create opportunities for the regional market.
Multi-walled carbon nanotubes have a wide range of applications in electronics, and, as a result, this regional market is expected to grow steadily. In 2020, Asia Pacific was the second-largest market for multi-walled carbon nanotubes products. The rising application of nanomaterials in various end-use industries, such as electronics, automotive, and aviation, in India, China, and Japan and the increase in government investments in such industries is driving the multi-walled carbon nanotubes market in the region.
Multi-walled carbon nanotubes have high electrical conductivity and are being increasingly used in various applications, such as conductive nano inks, battery cathodes, enhanced structural composites, enhanced structural composites, conductive heating films, conductive transparent electrodes, nanodevices, displays, chemical sensors, batteries, energy storage, solar power cells, and thermal interface materials. Along with this, the use of MWCNTs in aerospace and automotive applications is cost-effective as they save fuel and reduce carbon dioxide (CO2) emissions.
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Multi-walled Carbon Nanotubes Market Size: Segment Overview
Based on application, the multi-walled carbon nanotubes market is segmented into electrically conductive polymers, structural composites, concrete additives, batteries, research & development, and others. The batteries segment dominated the market in 2020. MCWNTs are being increasingly used for batteries. Silicon anodes for Li-ion batteries are being reinforced with MWCNTs to reduce their resistance, making them resilient to cracking and its effects during hundreds and thousands of charge/discharge cycles.
Impact of COVID-19 Pandemic on Multi-walled Carbon Nanotubes Market:
The shutdown of manufacturing units during the COVID-19 pandemic adversely affected the production and supply side of the multi-walled carbon nanotubes market. Also, the logistics and transportation sector hampered the market due to the imposition of lockdown. The outbreak had distorted operational efficiency and disrupted the value chains due to the sudden shutdown of national and international boundaries, creating revenue loss and damage. During the period, the poor performance of the automobile, aerospace, and defense sectors resulted in a drop in demand. In the second half of 2020, the ease in lockdown restrictions led to the resurgence of the transportation and trade sector, which supported the revival of the multi-walled carbon nanotubes market.
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MWCNTs provide unique physicochemical, electrical, antiviral, optical, antimicrobial, high surface area, high electrical mobility and conductivity, and other properties that can be used for creating high-performance components and devices required for COVID-19 pandemic and other futuristic calamities, which is expected to impact the market positively over the next few years.
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