Vancouver, BC -- (SBWire) -- 12/09/2020 --The global Carbon Nanotube market is anticipated to be valued at USD 16.22 billion by 2027, according to the latest research report by Emergen Research. The carbon nanotube market is observing rapid expansion accredited to the augmenting demand from numerous end-use verticals such as automotive, textiles, aerospace and defense, electrical and electronics, healthcare, and energy, among others. Carbon nanotubes are extensively applied in areas with an enormous need for resilience, robustness, lightweight characteristics, and electrical and thermal conductivity.
Carbon nanotubes confer excellent electrical attributes and have a high potential in applications linked with photovoltaic cells, smart textiles, sensors, conductors, displays, and energy conversion equipment equipped with fuel cells and batteries, and others. The products also comprise a larger surface area, enhancing the chemical, electrochemical, and mechanical stability. These unparalleled qualities of carbon nanotubes augment their use in the conversion and storage of energy.
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However, stringent government regulations pertaining to the harmful effects of carbon nanotubes on the environment and surrounding is anticipated to restrain the market growth during the projected timeline. Carbon nanotubes (CNTs) fall in the list of 23 chemical substances that the U.S. Environmental Protection Agency puts under the Toxic Substances Control Act (TSCA). These regulations and rules are anticipated to affect the manufacturing, importing, and processing of the carbon nanotubes, thereby acting as market restraints.
Key Highlights from the Report:
- Based on product type, the multi-walled carbon nanotubes contributed to the largest market share in 2019 with a revenue share of USD 4.80 billion and is anticipated to continue dominating the market over the coming years. This can be attributed to the enhanced conductivity and strength of the atomic bonds to enable resistance to high temperatures.
- Based on industry verticals, the electrical and electronics industry led the market with the second-largest share of the industry in 2019 and is presumed to report a CAGR of 14.6% during the projected timeline. This can be attributed to the easy incorporation of CNT-based transistors on the chip, thereby offering high functioning, efficiency, and low-heat production.
- North America is presumed to dominate the market during the projected timeline attributable to the advancements and expansion of technologies in the electronics sector and the increased development of engineered polymers.
- Some of the major players of the market include Arkema SA, Carbon Solutions Inc., Showa Denko K.K., Arry International Group Ltd., FutureCarbon GmbH, Unidym Inc., Continental Carbon Company, Klean Carbon Inc., Hyperion Catalysis International Inc., and Cnt Co. Ltd., among others.
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For the purpose of this study, Emergen Research has divided the Global Carbon Nanotube Market based on product type, method, industry vertical, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Single-Walled Carbon Nanotube
- Multi-Walled Carbon Nanotube
Method Outlook (Revenue, USD Billion; 2017-2027)
- Arc Discharge
- Laser Ablation of Graphite
- Chemical Vapor Deposition (CVD)
Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)
- Electrical & Electronics
- Aerospace & Defense
- Energy
- Healthcare
- Automotive
- Textiles
- Others
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
o U.S.
o Mexico
o Canada
- Europe
o Germany
o U.K.
o France
o BENELUX
o Rest of Europe
- Asia Pacific
o China
o India
o Japan
o South Korea
o Rest of APAC
- Latin America
o Brazil
o Argentina
o Chile
o Rest of Latin America
- Middle East & Africa
o Saudi Arabia
o U.A.E.
o South Africa
o Rest of MEA
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Carbon Nanotube Market Trends : Enormous Potential of Carbon Nanotubes in Energy Storage and Electrical and Electronics Sector
The augmenting demand for carbon nanotube from industry verticals such as aerospace and defense, electrical and electronics, and healthcare, among others, due to their extensive application to improve the systems' functions is majorly driving the Carbon Nanotube market demand.