New York, United States, April 15, 2024 (GLOBE NEWSWIRE) -- The Global Carbon Nanomaterials Market Size is Expected to Grow from USD 4.1 Billion in 2023 to USD 32.8 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 27.7% during the projected period.
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Carbon nanomaterials are the carbon allotropes that have unique physical and chemical properties having extensive applications in technical, medical, environmental, and agricultural sectors. Carbon allotropes have easy functionalization, conductivity, surface area, and electrical activity thus they are termed “Wonder materials”. The carbon-based nanomaterials have a strong anisotropic thermal conductivity which allows the carbon-based nanomaterials to be used in advanced computing electronics. They are widely applied in therapeutics and diagnosis for coating biomedical devices. There is a wide scope for the application of carbon allotropes soon having improvisations in building electrochemical biosensors. Carbon nanotubes, fullerenes graphene, carbon dots, graphene oxide, and composites are some of the allotropes of carbon that have wide applications. The increasing demand for carbon nanomaterials in the paints & coating industry is likely to enhance the market growth of carbon nanomaterials. On the contrary, carbon nanotube toxicity is likely to affect human health like kidney damage and high blood pressure.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Carbon Nanomaterials Market Size, Share, and COVID-19 Impact Analysis, By Type (Carbon nanotubes, Graphene, Carbon nanofibers, fullerenes, and others), By Method (Arc Discharge, Laser Ablation, Chemical Vapor Deposition, High-Pressure Carbon Monoxide Reaction, Liquid Phase Carbon Nanotubes Purification), By Application (Aerospace & Aviation, medical & Pharmacy, Military & Defense), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023–2033."
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The carbon nanotubes segment dominates the market with the largest revenue share through the forecast period.
Based on type, the global carbon nanomaterials market is segmented into carbon nanotubes, graphene, carbon nanofibers, fullerenes, and others. Among these, the carbon nanotubes segment is dominating the market with the largest revenue share through the forecast period. Carbon nanotubes have distinct, long, tubular structures having low thermal expansion coefficient, high mechanical strength, high specific surface area, and thermal conductivity.
The chemical vapor deposition segment is witnessing significant CAGR growth through the forecast period.
Based on the method, the global carbon nanomaterials market is segmented into arc discharge, liquid phase carbon nanotube purification, laser ablation, chemical vapor deposition, high-pressure carbon monoxide reaction, and others. Among these, the chemical vapor deposition segment is witnessing significant growth through the forecast period. The chemical vapor deposition method has high throughput, high purity, and low cost of operation thus widely used in the semiconductor industry. It has better molecular beam evaporation and sputtering. Thus these factors are responsible for driving market growth in the carbon nanomaterials industry.
The medical & pharmacy segment is witnessing significant CAGR growth through the forecast period.
Based on the application, the global carbon nanomaterials market is segmented into aerospace & aviation, medical & pharmacy, and military & defense. Among these, the medical & pharmacy segment is witnessing significant growth through the forecast period. The usage of carbon nanomaterials in various healthcare sectors such as therapeutics, medical devices, and drug delivery leads to increased market demand. Other applications include stem-based therapies and tissue engineering such as myocardial therapy, muscle and neuronal regeneration, and bone formation. Thus growing application of medical devices is likely to enhance the carbon nanomaterial market in the medical & pharmacy segment.
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Asia-Pacific dominates the market with the largest market share over the forecast period.
Asia-Pacific dominates the market with the largest market share over the forecast period. The growing demand for composite and lithium-molecule battery applications drives the carbon nanomaterial market in the Asia-Pacific region. China and Japan have the greatest carbon nanomaterial market in the Asia-Pacific region. The rising R&D of carbon nanomaterials positively affects the market of carbon nanomaterials. Thus, the increasing carbon nanomaterial market in countries like China, Japan, India, and South Korea drives the carbon nanomaterial market in the region.
Europe region is expected to grow the fastest during the forecast period. The presence of a well-developed automotive industry and rising demand for carbon nanomaterial in various sectors growing the carbon nanomaterial market. The UK is one of the countries that has the largest carbon nanomaterial market due to significant demand for wearable electronic devices and wireless speakers. The increasing usage of microelectronic devices raises the demand for carbon nanotubes for manufacturing electronic devices likely to boost the market in the region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global carbon nanomaterials market are Arkema SA, Nano-C, Showa Denko KK, LG Chemical Ltd., Klean Commodities, Bayer AG, SES Research, MTR Ltd, Cabot Corporation, Sumitomo Electric Industries Ltd., Napo Nanotechnologies Pvt. Ltd., DuPont de Nemours Inc., CNano Technology Ltd, Ahlstrom Oyj, Nanocyl SA, and Others Key Players.
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Recent Developments
- In November 2023, Sunrise New Energy announced a plan to construct a carbon nanotube conductive additive plant in the United States, enhancing production efficiency and profits.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global carbon nanomaterials market based on the below-mentioned segments:
Global Carbon Nanomaterials Market, Type Analysis
- Carbon nanotubes
- Graphene
- Carbon nanofibers
- Fullerenes
- Others
Global Carbon Nanomaterials Market, Method Analysis
- Arc Discharge
- Laser Ablation
- Chemical Vapor Deposition
- High-Pressure Carbon Monoxide Reaction
- Liquid Phase Carbon Nanotubes Purification
Global Carbon Nanomaterials Market, Application Analysis
- Aerospace & Aviation
- Medical & Pharmacy
- Military & Defense
Global Carbon Nanomaterials Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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