Carbon Nanotubes Market Size to Worth Around USD 105 Bn by 2030

Tokyo, Dec. 14, 2022 (GLOBE NEWSWIRE) -- The global carbon nanotubes market is poised to grow at a notable CAGR of 13.35% during the forecast period 2022 to 2030. Carbon nanotubes (CNTs) are one-dimensional allotropes of carbon which are made by rolling sheet of graphene. It is an advanced material which is engineered for different applications. Its uncommon features have demanded significant research interest since its recent discovery.

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What is the regional impact of carbon nanotubes market?

• In terms of revenue, the Asia-Pacific carbon nanotubes market has the potential to present a significant growth with a CAGR of around 17%, during the coming period. Nations such as India, Australia, China and Japan own a considerably large production base and it is anticipated to hasten the demand for CNTs in the future.
• North American market is anticipated to experience a significant growth rate during the forecast period. Most of the manufacturers are based in this region. Noticeable funding for the research of polymers & composites and the producing base of few polymers such as PEI and PEEK, majorly in the U.S. shall encourage industry growth in this region.

Report Highlights

• On the basis of the product, the multiwalled carbon nanotubes segment will dominate the market during the forecast time frame. these are hollow carbon allotropes which are cylindrical in shape and have a high aspect ratio they are used in electrical conductivity, conductive heating films, conductive transparent electrodes, supercapacitors, solar industries and batteries. Properly integrated multiwalled carbon nanotubes are highly conductive. It is used in biomedical engineering field and for drug delivery methods which help in monitoring the health and treating the disease.
• On the basis of application, the plastics and composites segment will dominate the market during the forecast period. Plastics and composites are having an increased application in engineered polymers for the construction industry and the automotive industry. Composites are lightweight and therefore there is an increased usage of composites in the polymers market. The use of carbon nanotubes in the electrical and electronics market will also show a significant growth during the forecast period.
• As carbon nanotubes are excellent optoelectronic and they provide good conductivity there shall be an increased demand for it in the electrical and electronics segment. Add there's an increasing demand for generation of electricity through sources like wind and solar energy we will drive the turbine market and the solar cells market which in turn will increase the demand for carbon nanotubes.
  
  

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Scope of the Report

Market dynamics

Drivers

Strength and flexibility are the major properties provided by carbon nanotubes technology. As a result these are extensively used by aerospace and the automobile industry. They are generally better than steel and thus resist extensive wear and tear. They also provide better conductivity for electricity. They are used as conductive fillers in electronics packaging, ESD materials and EMI shielding which increases their demand.

Restraints

Inorganic nanotubes are less expensive and non-toxic that CNTs that are considered to possess carcinogenicity. They provide similar properties as that of CNTs like thermal conductivity and better electrical insulation. Boron nitride nanotubes (BNNTs) have a wide range of industrial applications, including coatings, lubricants, ceramic composites and insulators. Also, peptide nanotubes have many advantages over carbon nanotubes as they possess higher biocompatibility, are water soluble, less expensive, and can be easily synthesized. Moreover, supply of substitutes is bound to hinder the demand for CNTs, hence curtailing the growth of the global carbon nanotubes market during the forecast period.

Opportunities.

The global carbon nanotubes market is propelled by factors like growing demand in lightweight structural polymer composites, antistatic packaging material from automotive, electronics, energy, conductive fillers for industrial applications. The technology based ESD materials are utilized in fuel filter housings, connectors, fuel pumps, reservoirs, line clips, and electronic housing systems. CNTs are also utilized in the electrical and electronics industry to manufacture electromagnetic interference protecting composites and packing materials. Apart from it many different particles are introduced like the carbon fibers and the carbon black particles. All of these factors happen to serve as great factors for the growth of the market.

Challenges

Carbon Nanotubes have a great impact on the environment and to curb this there are many strict government policies and regulations that the manufacturing companies need to adhere to. The collected carbon nanotubes pose a health threat to humans as well as humans as the structure is fibrous and it may lead to serious health issues. Exposure to these materials causes damage to the kidneys. Further, inorganic nanotubes are less expensive and non-toxic than CNTs that are known to have carcinogenicity.

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Recent developments

• In August 2017, N12 Technologies, Inc., a nanotechnology composites manufacturing company, tied up with the University of Dayton Research Institute (UDRI) to manufacture its NanoStitch interlaminar reinforcement product using UDRI’s production technology.
• In January 2019, SABIC gained a majority stake in Black Diamond Structures (“BDS”), which is a nanotechnology company. This step will expand the nanotube business for energy storage applications using lead-acid and Li-ion batteries.

Market Segmentation

By Product Type

• Single-Walled Carbon Nanotubes (SWCNTs)
• Multi-Walled Carbon Nanotubes (MWCNTs)

By Technology

• Laser Ablation of Graphite
• Arc Discharge
• Chemical Vapor Deposition
• Catalytic CVD
• High Pressure Carbon Monoxide
• Floating Catalyst
• Others
  
  

By Application

• Electronics and Semiconductor
• Energy Storage
• Structural Composites
• Aerospace and Defense
• Chemical Materials
• Medical and Pharmacy
• Others
  
  

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

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