Sellbyville, DE -- (SBWIRE) -- 11/21/2018 -- The qualitative research study conducted by Global Market Insights, Inc. titled "Carbon Nanotubes Market" provides primary Data, surveys, Scope of the Product and vendor briefings. The market dynamic forces have been determined after conducting a detailed study of the Global Carbon Nanotubes Market.

Carbon Nanotubes Market will surpass USD 8 billion by 2024; according to a new research report by Global Market Insights, Inc. Polymer based nanocomposites are an ideal solution for a new generation composite materials. They have wide applications in automotive, transportation, aerospace, energy, infrastructure and sporting goods sectors. For instance, Nanointegris, the subsidiary of Raymor Industries, Inc. had a remarkable innovation in polymer-wrapped, ultra-high-quality semiconducting carbon nanotubes (CNT) in powder or solution forms with purity around 99.9%. Moreover in 2014, OCSiAl a leading industrial player had projected a strong potential for CNT in building NASA and Google-X's space elevator using carbon nanotubes, as proposed by CEO of SpaceX Elon Musk.

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Multi-walled carbon nanotubes held the highest share in global nanotubes market by the end of 2017 with a market share exceeding 75%. This segment is likely to observe a similar trend by 2024, for their unique performance characteristics. For instance, the atomic bonds of multi-walled carbon nanotubes are highly strong which allow them to withstand extreme temperatures. Multi-walled CNT have been good thermal conductors properties; also, compared to copper wires these multi-walled carbon nanotubes can transmit around 15 times the amount of watt.

Carbon nanotubes market of product by application

- Single-walled carbon nanotubes
- Polymers
- Energy
- Electricals & electronics
- Others

- Multi-walled carbon nanotubes
- Polymers
- Energy
- Electricals & electronics
- Others

Carbon nanotubes market by application

- Polymers
- Energy
- Electricals & electronics
- Others

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Estimates claim that Asia Pacific led the global carbon nanotubes market in 2017 with a share of 35%. It has also been reported that China led the regional landscape, primarily on the account of significant deployment of electric vehicles that demand substantial use of carbon nanotubes as an electrochemical capacitor for energy storage. Other prominent countries such as India, South Korea, Indonesia, Singapore, and Malaysia have also been contributing considerably to the Asia Pacific carbon nanotubes industry share, slated to register a CAGR of 23% over 2018-2024.

Speaking of the future trends, carbon nanotubes market is expected to draw extraordinary attention from the medical field. A potential medical application of CNTs is witnessed in tumor targeting and destruction. For the record, researchers recently carried out an experiment where they injected CNTs into kidney tumors in experimental mice and then targeted a IR laser at the tumors. The tubes responded by vibrating, which in turn created enough heat to kill the surrounding tumor cells. Such promising technological breakthroughs are further expected to transform the industry trends in the years ahead.

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Leading market players of CNT market have been engaged in production expansion and research & development activities for offering technologically advanced products to several end-users industry. Prominent players of the market include: Continental Carbon Nanotechnologies, Carbon Solutions, Arkema SA, Nanocyl SA, Nanoshel LLC, Hyperion Catalysis International, Future Carbon GmbH, Raymor Industries Inc., Klean Commodities, Korea Kumho Petrochemical Company Ltd etc, Raymor Industries Inc, etc. There are other small and medium-scale market players which contribute towards market growth and play significant role in industrial value chain.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.