Pune, March 20, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider analysis, governments and private organizations are investing heavily in research and development of carbon nanotube, which is leading to new applications and advancements in the technology. SNS Insider has reported that the Carbon Nanotubes (CNT) Market is projected to grow at a Compound Annual Growth Rate (CAGR) of 17%, reaching USD 90.34 billion by 2030 from USD 25.72 billion in 2022.
Carbon nanotubes (CNTs) are cylindrical structures made of carbon atoms arranged in a unique way, resulting in a remarkable set of properties. CNTs have a high aspect ratio, meaning their length-to-diameter ratio can reach up to several million. This property, combined with their incredible strength, makes them ideal for use in lightweight and strong materials such as composites. They are also excellent conductors of heat and electricity, which makes them useful in electronics and energy storage devices.
Carbon Nanotubes (CNTs) Market Report Scope
| Report Attributes | Details |
| Market Size in 2022 | US$ 25.72 Billion |
| Market Size by 2030 | US$ 90.34 Billion |
| CAGR2023-2030 | CAGR of 17% |
| Key Segments | • By Type (Multi-Walled Carbon Nanotube, Single-Walled Carbon Nanotube) • By Method (Chemical Vapor Deposition, Catalytic Chemical Vapor Deposition, High Pressure Carbon Monoxide Reaction, Others) • By Application (Electronics & Semiconductors, Advanced Materials, Chemical & Polymers, Batteries & Capacitors, Aerospace & Defense, Energy, Medical,Others) • By TECHNOLOGY (Arc Discharge, Laser Ablation, CVD, Catalytic CVD, High Pressure Carbon Monoxide, CoMoCAT, Floating Catalyst, Others) |
| Regional Analysis/Coverage | North America Europe Asia-Pacific The Middle East & Africa Latin America |
| Company Profiles | Cheap Tubes, Inc., Showa Denko K.K., Thomas Swan & Co. Limited, Arkema SA, Carbon Solutions, Inc., Toray International Group Limited, LG Chem, Arry International Group Limited, Cnt Co., Ltd., Cnano Technology Ltd., and other players included in the final report. |
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Market Analysis
The carbon nanotubes (CNT) market is witnessing a significant trend of continuous research and development. This is due to the growing demand for carbon nanotubes in a variety of applications, including electrical and electronics, energy, consumer goods, aerospace, automobile, defense sectors, and healthcare. As a result, there have been heavy investments in the production of carbon nanotubes. The demand for carbon nanotubes in the healthcare sector is also on the rise, as they have potential applications in drug delivery, tissue engineering, and biosensors.
Impact of Recession
The impact of a recession on the carbon nanotubes (CNT) market depends on several factors, including the severity and duration of the recession, as well as the level of competition in the industry. However, it is clear that a recession can significantly affect the market, and companies in the industry need to be prepared to adjust their strategies accordingly.
Key Regional Development
According to market analysis, the carbon nanotubes (CNT) market in North America is projected to experience substantial expansion in the coming years. This growth can be attributed to the increased demand for polymer manufacturing, which aims to enhance the thermal, electrical, and mechanical properties of bulk products. Additionally, government regulations promoting green energy are expected to bolster the industry's development during the forecast period. By incorporating CNTs into polymer composites, manufacturers can significantly enhance the material's properties, such as strength, stiffness, and electrical conductivity. As a result, these composites are being widely adopted across various industries, including automotive, aerospace, electronics, and healthcare.
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Recent Developments Related to Carbon Nanotubes (CNT) Market
- Toyo Ink, a Japanese chemical company, has recently announced an investment in carbon nanotube dispersions in the United States. This investment is expected to further enhance the company's technology in the field of nanomaterials and broaden its range of offerings to customers. By investing in carbon nanotube dispersions, Toyo Ink aims to develop innovative and high-performance materials that can meet the evolving needs of its customers.
- A team of researchers from Illinois has made significant progress in improving the production of carbon nanotubes. Carbon nanotubes are microscopic tubes made of carbon atoms that possess unique physical and chemical properties, making them highly sought after for use in a variety of fields such as electronics, energy, and materials science.
Key Takeaway from Carbon Nanotubes (CNT) Market Study
- The market is poised for growth, and the multiwalled carbon nanotubes segment is expected to dominate during the forecast period. These unique structures have a range of applications in various industries, including electrical conductivity, conductive heating films, conductive transparent electrodes, supercapacitors, solar industries and batteries.
- The market is expected to see significant growth in the coming years, with the plastics and composites segment playing a dominant role. This is primarily due to the increased use of engineered polymers in industries such as construction and automotive, which are driving demand for CNT-based materials.
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