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Carbon Nanotubes Market Size By Product (Single-Wall Carbon Nanotubes, Multi-Wall Carbon Nanotubes), By Application (Polymers, Energy, Electrical & Electronics, Others), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2022 – 2030

  • Report ID: GMI744
  • Published Date: Sep 2022
  • Report Format: PDF

Industry Overview

Carbon Nanotubes Market size was worth more than USD 3 million in 2021. Driven by the rising deployment of carbon nanotubes in various industries, the business is projected to record a CAGR of more than 19.5% from 2022 to 2030.
 

Carbon Nanotubes Market

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Carbon nanotubes are widely adopted across the globe in energy storage systems, molecular electronics, conductive adhesives, fibers and fabrics, water and air filtration, catalyst support, biomedical applications, field emission, and structural applications. Moreover, carbon nanotubes are in high demand in the aviation and space industry on account of their properties such as satellite/fuselage weight reduction, aircraft icing mitigation, lightning protection for aircraft, etc. For instance, advanced CNT composites are estimated to reduce the weight of aircraft and spacecraft considerably and make them nearly 30% less heavy.
 

Widespread usage of carbon nanotubes has lately been seen in the electronics industry due to their exceptional one-dimensional structure and supreme electrical property. CNTs are known to have all the desired electrical, mechanical, chemical, and thermal properties to be ideal electronic material for next-generation flexible and stretchable electronic gadgets. The high conductivity and small size of nanotubes make them a potential alternative to copper and other commonly used composite materials.
 

High costs to act as a retraining factor

Carbon nanotubes depict excellent strength, even more than iron or steel. Touted as super-materials, CNTs are also more conductive than copper. However, given that they are quite rare, pure CNTs and associated products are very expensive, which may prove to be a major factor hindering the carbon nanotubes market growth. However, powered by a slew of unique properties such as enhanced breaking strength, antistatic characteristics, and the ability to reduce weight, carbon nanotubes have attracted several research interests worldwide. An increasing number of research activities are being undertaken to manufacture CNTs in a way that would help reduce the final product costs and overcome the current price-related challenges.
 

Cost advantages to stimulate the rising adoption of multi-wall carbon nanotubes

Carbon Nanotubes Market, By Product

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In terms of products, the global carbon nanotubes market is segmented into single-wall carbon nanotubes and multi-wall carbon nanotubes. The industry valuation of the MWCNT segment is projected to cross USD 13.5 billion by 2030, witnessing a CAGR of more than 19.5% over 2022-2030. The production cost associated with multi-wall carbon nanotubes is comparatively less than single-wall nanotubes. This has increased the preference for these products to manufacture polymer or other composite materials, given the rising profitability.
 

Beneficial properties to foster carbon nanotubes usage in electrical & electronics gadgets

Carbon Nanotubes Market, By Application,

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The electrical and electronics application segment held more than 10% of the carbon nanotubes market share in 2021 and is estimated to register a CAGR of over 20% through 2030. CNT technologies are ideal for electronic gadgets deployed in space communications systems, automobiles, as well as in industrial settings where these electronic gadgets are continuously exposed to extreme temperatures, radiation, and ultraviolet rays. The widespread deployment of these nanomaterials in electrical and electronics applications can also be credited to their high energy efficiency due to their small size.
 

High demand for advanced electronic devices to boost product adoption in North America

Carbon Nanotubes Market, By Region,

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Regionally, the global carbon nanotubes market revenue is segmented into North America, Europe, Asia Pacific, LATAM, MEA. North American industry is slated to accrue over USD 4 billion by 2030. Developed American economies such as the United States will experience an increase in the demand for CNTs given that the nation is one of the global leaders in the medical, electronics, energy, and automotive sectors. The surging sales of advanced electronic products credited to technological advancements and fast-paced innovation will have a profound impact on regional growth. In addition, the increasing number of R&D centers and the rapidly developing healthcare sector in North America will also be responsible for the regional industry expansion.
 

Mergers and acquisitions to strengthen the business outlook

Arkema S.A, Nanocyl SA, Continental Carbon Company, Hyperion Catalysis International, Klean Commodities, Future Carbon Gmbh, Raymor Industries Inc., Hanwha Chemical Corporation, Kumho Petrochemical, Showa Denko K.K., Beijing Cnano Technology Limited, Carbon Solutions Inc., Nanoshel LLC are the leading companies in global carbon nanotubes market. These players are focusing on bringing about consistent research & innovations along with profitable mergers and acquisitions to strengthen their global presence in the ensuing years. In September 2022, Arkema concluded the acquisition of Polimeros Especiales. The acquisition helped Arkema in enhancing its product portfolio of solvent-free solutions and strengthened its position in the Central America region.
 

Facility expansions by prominent end-use companies will define the competitive scenario in the years ahead. Chemical corporation LG Chem for instance recently revealed its plans to build the biggest ever carbon nanotube plant by the year 2024. The facility may be located in the Daesan region of South Korea and is anticipated to manufacture about 3,200 metric tons carbon nanotubes per year. Nanotubes enhance conductivity; therefore, the company plans to sell most of its produce from various plants for use in electric vehicle batteries. The burgeoning demand for electric vehicles globally will positively impact the market statistics.
 

Impact of COVID-19 on the carbon nanotubes market trends

The coronavirus pandemic had a slightly negative impact on the industry outlook in the initial few months of 2020, given that the growth of most end-user industries came to a standstill. Global lockdowns, increasing social distancing norms, and manufacturing halts cast a damper on CNT production and supply. Economic resurgence post-2020 and increasing vaccination drives enabled manufacturing activities to resume in 2021, bringing about further growth in the CNT industry.
 

New research activities also unearthed that the application scope of carbon nanotubes may expand beyond its current portfolio. Numerous companies and institutions are attempting to develop real-time methods, like biosensors to detect antigens, antibodies, and other viral components. To that end, CNT-based biosensor design and development to prevent, diagnose, and treat viral diseases such as COVID-19 will open new opportunities for the industry players.
 

The carbon nanotubes market research report includes in-depth coverage of the industry with estimates & forecasts in terms of volume in Tons and revenue in USD million from 2018 to 2030 for the following segments:

By Product

  • Single-Wall Carbon Nanotubes
  • Multi-wall Carbon Nanotubes

By Application

  • Polymers
  • Energy
  • Electrical & Electronics
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Russia
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Indonesia
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • GCC
    • South Africa

 

Authors: Kiran Pulidindi, Sayan Mukherjee

Frequently Asked Questions (FAQ) :

In 2021, the global market registered a valuation of over USD 3 billion and is estimated to expand at a CAGR of more than 19.5% during the forecast period of 2022-2030.

Global carbon nanotubes industry share from multi-wall carbon nanotubes segment is projected to cross USD 13.5 billion by 2030, on account of the cost benefits associated with the integration of MWCNT in products across various industries.

The North America carbon nanotubes industry is anticipated to cross USD 4 billion by 2030, driven by mounting sales of advanced electronic devices in the region.

Continental Carbon Company, Future Carbon Gmbh, Raymor Industries Inc., Hanwha Chemical Corporation, Arkema S.A, Nanocyl SA, Hyperion Catalysis International, Klean Commodities, Kumho Petrochemical, Showa Denko K.K., Beijing Cnano Technology Limited, Carbon Solutions Inc., Nanoshel LLCsome manufacturers in the carbon nanotubes industry.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 13
  • Tables & Figures: 410
  • Countries covered: 17
  • Pages: 350

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