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Carbon Nanotubes Market size to surpass USD 15 billion by 2030

  • Published Date: September 14, 2022

Carbon Nanotubes Market size is anticipated to surpass a valuation of USD 15 billion by 2030, according to a new research report announced by Global Market Insights Inc.

The report identifies the increasing initiatives toward wind energy generation as a major driver of the carbon nanotubes industry expansion, especially in developed economies. For example, Danish energy company Orsted has recently launched an offshore wind farm stretching across 462 square kilometers, which is currently the world’s biggest offshore power generation facility. It is equipped with 165 turbines which can power over 1.4 million homes in the U.K. The development comes as countries in the European Union try to minimize their dependency on Russian fossil fuels, as well as gas, because of Kremlin’s Ukraine invasion in February.

Carbon fiber has proven advantages for lowering the mass of wind turbine blades because of its considerably enhanced properties of strength and stiffness when compared with fiberglass. Carbon nanotubes are a key component of long wind turbine blades. A surge in initiatives toward renewable energy like burgeoning wind power will positively impact the demand for CNTs globally.

Superior material properties to boost single-wall carbon nanotubes adoption

Single-wall carbon nanotubes market is projected to accrue over USD 1 billion by 2030. The adoption of SWCNTs is anticipated to grow significantly in the coming years on account of their superior electrical conductivity and high performance compared to copper. Single-wall carbon nanotubes are an excellent example of nanotechnology and are widely used across an array of industries such as electronics, material science, energy management, and chemical processing, among others.

Browse key industry insights spread across 350 pages with 381 market data tables & 29 figures & charts from the report, “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” in detail along with the table of contents:

Burgeoning usage across various industries to drive product demand in polymer applications

In terms of application, the carbon nanotubes market is segmented into polymers, energy, electrical & electronics, and others.  The report cites that the rising demand for polymers in the electrical and electronics, automobile, and construction industries is a key driver pushing the polymers segment growth. Driven by the increasing deployment of CNT-based polymer composites in microelectronics, drug delivery, tissue engineering, etc., the industry size from polymers segment may cross USD 10 billion by 2030.

Increasing demand from the electronics industry to augment LATAM industry size

Latin America carbon nanotubes market is anticipated to be worth more than USD 190 million by 2030. This can be credited to the surging demand for CNTs from the electronics industry. The pharmaceutical and automotive sectors are also depicting substantial growth across LATAM. Increasing deployment of functionalized carbon nanotubes in pharmaceutical applications on account of their non-immunogenic and low toxicity features will push the regional industry outlook through 2030.

Production expansion tactics to characterize the competitive overview

The report profiles companies such as 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., and Nanoshel LLC in the carbon nanotubes market. These firms are working on tapping the latest trends in end-use sectors and accordingly undertaking strategic actions to strengthen their business reach.

Authors: Kiran Pulidindi, Sayan Mukherjee