Carbon Nanotubes Market Size By Product (Single-Walled Carbon Nanotubes, Multi-Walled Carbon Nanotubes), By Application (Polymers, Energy, Electrical & Electronics), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024
Published Date: Jul 2018 | Report ID: GMI744 | Authors: Kiran Pulidindi, Hemant Pandey
Carbon Nanotubes Market size was over 2 billion in 2017, with projected gains over 22% CAGR between 2018 and 2024.
Get more details on this report - Request Free Sample PDF
Carbon nanotubes are a class of minuscule allotropes of carbon with sizes to the scale of nanometers. Their electrical, thermal and physical properties makes them ideal for various industrial applications. CNTs possess excellent properties such as high tensile strength, efficient electrical conductivity and has the ability to withstand high temperatures. These nanotubes are widely used various industrial applications including polymers, electronics, medicine, aerospace, defense, automotive, and energy among others. The growing demand for CNTs in these applications is projected to positively impact the market growth throughout the forecast period. Moreover, the growing research and development spending by the manufacturers to develop advanced carbon nanotubes shall open up new opportunities in the market during the review period.
Carbon nanotubes are mainly used in polymers, energy, electrical & electronics applications. They are widely used to improve properties of strength and weight in polymers as reinforcing material. Additionally, CNTs have smaller diameter and superior electrical conductivity and has the ability to replace steel for various applications. In energy segment, they are ideal for use in manufacturing turbine blades to enhance mechanical strength thereby increasing the service life of wind turbines. In the electrical & electronics industry, carbon nanotubes find application in manufacturing a wide range of electronic display screens used across various consumer electronics such as mobile phones, television, computer monitors etc. The burgeoning electrical and electronics industry across the globe coupled with growing inclination towards renewable energy shall augment the carbon nanotubes market growth during the review period. Furthermore, growing government initiatives towards wind energy generation shall further boost the carbon nanotubes demand during the given period (2018-2024). However, the high cost associated with the production of carbon nanotubes is likely to be a major restraining factor during the forecast period. Additionally, the presence of environmental regulations coupled with health effects associated with prolonged exposure are other factors restraining the market growth.
|Base Year:||2017||Market Size in 2017:||2 Billion (USD)|
|Historical Data for:||2013 to 2017||Forecast Period:||2018 to 2024|
|Forecast Period 2018 to 2024 CAGR:||22%||2024 Value Projection:||8 Billion (USD)|
|Pages:||182||Tables, Charts & Figures:||229|
|Geographies covered (18):||U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, Japan, India, Australia, Indonesia, Malaysia, Brazil, Mexico, GCC, South Africa|
|Segments covered:||Product, Application and Region|
|Companies covered (14):||Arkema SA, Nanocyl SA, Continental Carbon Nanotechnologies, Nanothinx S.A., Hyperion Catalysis International Inc., Klean Commodities, Future Carbon GmbH, Raymor Industries Inc., Hanwha Nanotech Corporation, Korea Kumho Petrochemical Company Ltd, Showa Denko K.K., CNano Technology Limited, Carbon Solutions, Nanoshel LLC|
|Pitfalls & Challenges:||
Carbon Nanotubes Market, by Product
Carbon Nanotubes Industry Size, by product, 2017 (%)
Get more details on this report - Request Free Sample PDF
Single-wall carbon nanotubes are one dimensional allotropes of carbon that possess high aspect ratio and surface area. These are made of carbon rolled into cylindrical shapes with diameters ranging from 1nm to 1.5nm. The nanoscale structure of single-wall CNT exhibits superior electrical, thermal, mechanical and optical properties. The unique combination of these properties has led to increase in demand for single-wall carbon nanotubes in various application such as packaging, solar cells, composites, displays and coatings. The single wall carbo nanotube segment held a market share of over 8% in 2017 and is projected to grow at a CAGR of over 22% throughout the forecast period. Asia Pacific was the largest market for single wall carbon nanotubes and is anticipated to exhibit a CAGR of over 22% during the review period. The multi-walled CNT held the largest share in 2017 and is projected to continue leading throughout the review period.
On the basis of application, the global carbon nanotubes market share has been segmented into polymers, energy, electrical & electronics, and others. Among the various aforementioned segment, polymers held the largest share in 2017 and is anticipated to continue leading throughout the forecast period. Polymers held a market share of over 70% in 2017 and is projected to grow at a CAGR of over 22% throughout the assessment period. CNTs exhibit excellent mechanical properties such as high tensile strength and high elastic modulus. This makes them ideal as reinforcing materials. When used in polymers CNTs aid in enhancing properties of the resulting composites. CNT based composites are 5 times lighter and 100 times stronger than steel. Thus, increasing demand for engineered plastics along with escalating polymer demand across numerous end-user industries will boost the overall carbon nanotube market size for polymers. The growing demand for polymers across the construction as well as automotive industry is projected to be a major factor driving the overall market demand during the assessment period.
The other application segments include medical, chemical, and optical devices. In medical applications, there is a huge scope for CNT based bio sensors and x-ray sources due to optical and electrical properties of CNTs. Rapidly growing medical industry in Asia Pacific region, owing to the medical tourism and increasing usage of high-end technologies will propel the carbon nanotubes demand in the industry in near future. CNTs are also widely utilized for water desalination due to their highly porous structure which shall further enhance the market size during the assessment period.
Asia Pacific was the largest revenue generating region in the global carbon nanotubes market in 2017 and shall exhibit similar trends throughout the forecast period. The growing automobile construction, aerospace and electronics industry, especially in Japan, China, India, and Malaysia projected to boost the demand for polymers in turn positively contributing to the carbon nanomaterials market demand. Asia Pacific held a market accounted for over 45% of the global market share in 2018 and is projected to grow at a CAGR of over 21% throughout the forecast period.
Competitive Market Share
The players operating in the global carbon nanotubes market share include wax market include, Hyperion Catalysis International Inc, Nanothinx S.A., Continental Carbon Nanotechnologies, Klean Commodities, Nanocyl SA, Arkema SA and Future Carbon GmbH, among others.
Why Global Market Insights, Inc.?
- GMI is unparalleled when to comes to the quality of research and information provided to clients. Our unique methodology is designed to ensure a minimum of 90% accuracy to give our clients excellent value on their investment.
Over 200 experts are available across various time-zones, ready to serve clients for their research needs. Our industry experts help clients to design reports customized to their needs.
An interactive business analytics platform; designed to assist clients in accessing and analyzing market data on real-time basis.Start Your Free Trial