An increase in the use of nanotube as filler in all the polymer-based products shall drive carbon nanotubes market outlook in the coming years.

Ocean View, DE -- (SBWire) -- 05/05/2020 --Global Carbon Nanotubes Market size was estimated at USD 2 billion in 2017 and is projected to surpass USD 8 billion by the year 2024.

Widespread electrical & electronic applications will help foster carbon nanotubes market size in the coming years. With the enhancement in electrical, mechanical, and thermal characteristics, the multi-walled carbon nanotubes are experiencing considerable demand. The electronics industry across the Asia Pacific region has witnessed a major revolution due to higher disposable incomes.

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As per the reports of 2016 by the World Bank, the Indian electronic industry has been predicted to register a growth of 24% every year, to be valued at USD 400 billion by the year 2020. Carbon nanotubes have been known to have various purity grades, while the cost of highly purified carbon nanotubes can be slightly high.

Additionally, the product goes through numerous stages of purification process with intense manufacturing procedures.

Global carbon nanotubes market size has been predicted to exceed USD 8 billion by the year 2024. A number of industry players like Klean Commodities, Nanoshel LLC, Nanothinx S.A., Raymor Industries Inc and Arkema SA have been exploring innovations and strategic acquisitions to introduce newer products for polymer applications.
For example, carbon composites producer Future Carbon had bought the nanotube segment from Bayer Material in March 2014. With the help of the latter's expertise within high-tech polymer composite, the deal had played an important role in the synergies of Future Carbon.

CNT industry players has had various expansions over the past years. For instance, Kumho Petrochemical had built a new production facility in Asan, in South Korea, capable of producing about 50 tons of CNT every year. There are various small-scale companies that play an important role across the regional economies while also contributing to carbon nanotubes market trends.

Increasing investments for CNT development

Carbon nanotubes are widely used as polymer additives across various industries. The companies are expected to pitch in with large investments to develop CNT which could be used for polymer applications. This investment will be made to meet the increasing demand for all the polymer-based products worldwide.

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For instance, Nanocyl SA designed ELASTOCYL HTV1001 in order to extrude and compress the molding of all the HTV/HCR compounds. CNT industry size from the polymer segment will experience a CAGR of over 20% over 2018-2024. The boom in the electrical & electronics sectors will help drive CNT market share significantly. The demand for Indian electronics sector had been flourishing at 16%, jumping from $65 billion to $136 billion over 2010-2015.

Surge in the use of polymers across worldwide

As per an NGO located in Turkey, PAGEV, the production of plastics across the globe has been 1.75 million tons in the year 1950, which had later increased up to 378.7 million tons in 2015. Polymeric nanotubes are often used as alternatives to all the conventional-filled polymers, which strengthens the composite through polymer reinforcement.

Germany plastic industry size had accounted for nearly USD 107.54 billion in 2017 and has been known to be one of the largest polymer industries in Europe. An increase in the use of nanotube as filler in all the polymer-based products shall drive carbon nanotubes market outlook in the coming years.

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