NEWARK, Del, July 17, 2023 (GLOBE NEWSWIRE) -- The Carbon Nanotubes Market size is anticipated to surpass US$ 970.9 million in 2023 and is predicted to attain a valuation of US$ 2,428.1 million by 2033. The carbon nanotubes market share is projected to thrive at a CAGR of 9.6% from 2023 to 2033.
The extraordinary qualities of carbon nanotubes include great strength, electrical conductivity, thermal conductivity, and flexibility. They are ideal for various applications due to their characteristics in several sectors, such as electronics, aviation, energy, and healthcare. Also, the demand for these materials rises as businesses continue to study and use the possibilities of carbon nanotubes.
Several industries use carbon nanotubes. They are employed in the manufacture of high-performance transistors, conductive films, and flexible displays in the electronics sector. They improve the strength and lighten the materials used to make airplane components in the aerospace industry.
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Carbon nanotubes are used in fuel cells and lithium-ion batteries in the energy sector to increase the effectiveness of energy conversion and storage. Carbon nanotubes also showed potential in the medical field for applications in tissue engineering, medication delivery, and biosensing. The market is growing due to expanding use of carbon nanotubes in these sectors.
Private equity companies, large enterprises, and venture capitalists have made significant investments in the carbon nanotubes sector. This increase in finances has given businesses the means to increase production, advance product development, and delve into novel uses.
Partnerships among academic institutions, research organizations, and business entities have allowed information exchange, technology transfer, and the creation of innovative solutions, further fostering market expansion.
Key Takeaways from the Carbon Nanotubes Market
- From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 6.3%.
- The global Carbon Nanotubes Market size stood at US$ 894.0 million in 2022.
- Polymers captured nearly 59.1% share of the market in 2022.
- North America Carbon Nanotubes Market held a dominant share, accounting for 27.9% share in 2022.
- China's Carbon Nanotubes Market secured an 8.1% global market share in 2022.
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Recent Developments Observed by FMI:
- In January 2023, nanotechnology researchers at The University of Texas at Dallas developed distinctive carbon nanotube yarns that gather mechanical motion energy more effectively than current material-based energy harvesters.
- According to Cabot Corporation, a new ENERMAXTM 6 carbon nanotube (CNT) series was developed in March 2021. The firm's ENERMAXTM 6 range of carbon nanotube products represents the recent development in high-performance CNTs. Due to its high aspect ratio, it is the conductive multi-walled CNT product in Cabot's lineup.
- In May 2021, Arevo created a patent-pending technical innovation enabling 3D printing of things reinforced with carbon nanotubes and carbon fiber. As part of a Series B fundraising round, the business secured US$ 12.5 million to usher in the next phase of 3D printing and revolutionize how manufactured goods are envisioned, created, constructed, and maintained.
Top Companies Profiled in the Global Carbon Nanotubes Market:
- Nanocyl S.A.
- CNano Technology Ltd.
- Showa Denko K.K.
- Arkema S.A.
- Bayer MaterialScience AG
- Chasm Advanced Materials Inc.
- Raymor Industries Inc.
- Klean Industries Inc.
- Toray Industries Inc.
- Cheap Tubes
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Carbon Nanotubes Market Segmentation
By Product:
- Multi-walled Carbon Nanotubes (MWCNT)
- Single-walled Carbon Nanotubes (SWCNT)
By Application:
- Application in Polymers
- Application in Energy
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East & Africa (MEA)
Explore FMI's Extensive Coverage in the Chemicals & Materials Domain:
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Nanomaterials Market Analysis: The global nanomaterials market is expected to attain a valuation of US$ 12.6 billion in 2023 and is projected to reach US$ 51.5 billion by 2033, trailing a CAGR of 15.1 % during the forecast period.
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Renewable Naphtha Market Overview: Driven by increasing demand for eco-friendly alternatives for synthetic plastic, sales of renewable naphtha are poised to grow at an impressive 13.7% CAGR through 2033.
Elemental Sulfur Market Outlook: The global elemental sulfur market is anticipated to generate revenues of US$ 6,667 million in 2023. Demand for elemental sulfur is projected to develop at a CAGR of 3.2% and reach US$ 9,135.4 million by 2033.
Ultrapure Water Market: Ultrapure water is expected to be used for essential operations such as cleaning, washing, and etching, where even minor pollutants can degrade device performance and yield.
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