Carbon Nanotubes (CNTs) Market Research Report - Global Forecast till 2028

Carbon Nanotubes (CNTs) Market: Information by Type (Single-Walled Carbon Nanotubes (SWCNTs) and Multi-Walled Carbon Nanotubes (MWCNTs)), Method (Chemical Vapor Deposition, High-Pressure Carbon Monoxide Disproportionation, Arc Discharge, Laser Ablation and others), End-Use Industry (Aerospace & Defense, Electrical & Electronics, Automotive, Energy, Sports and others) - Forecast till 2028

ID: MRFR/CnM/2988-CR | February 2021 | Region: Global | 195 pages

Carbon Nanotubes (CNTs) Market Overview:
 
Carbon Nanotubes (CNTs) Market is projected to be worth USD 18.85 billion by 2028, registering a CAGR of 20.59% during the forecast period (2021 - 2028)., The market was valued at USD 4.97 billion in 2020. There has been an enhanced and wide-scale use of CNTs in various kinds of participating regions and fields that will help the market grow during the forecast period.

COVID 19 Analysis


The arrival of the novel coronavirus has a significant and economic impact on the carbon nanotubes market share functioning. The financial and industrial market sectors like travel, tourism, aviation, production, and manufacturing were the worst affected. The IMF and the World Bank were expecting the worst recession during the period of 2019-2020. The extending lockdowns, halt of the market functioning followed by the stoppage of economic activities are likely to decline the global market demand.


However, the smooth functioning of the global demand and supply chain will help the market play a steady role in promising better growth aspects for the market during the forecast period of 2021-2028.


Market Dynamics


Drivers


The average market vehicles make use of 55 pounds of copper in an electrical wire and the same amount increases to three times when the discussion is about an electric car. The reducing amount of copper that is put in vehicles is likely to have the ability to significantly reduce the overall weight of the market vehicles followed by the reduced fuel consumption and carbon emissions that will drive the market towards global growth by the end of the period in 2028. Also, its emergence as a lightweight emergence to copper has an important role to play in developing the market and opportunities to dwell upon during the forecast period that will be ending in 2028.


Restraints


The carbon nanotubes market revenue is likely to be impacted by the restraints that challenge the market from growing in the forecast period of 2021-2028. The release of nanoparticles and nano-biotechnological byproducts in the production of nanomaterials poses serious threats that have a relation with human health and safety. Carbon nanotubes are found in various ranges and products from solar cells to tennis rackets. They are increasing their quantity to enter the environment but the associated issues bar their growth.


Technology Analysis


There has been a huge increase in the demand for composites materials in various kinds of market applications like sporting goods and bulletproof jackets. Carbon nanotubes are commonly known as CNTs. the use of CNTs in an epoxy material increases the strength and mechanical properties that are held by the finished market goods. These products end up being more stiffer, lighter, and stronger, after going through processes that offer high-quality finishing. These nanotubes are used for controlling and enhancing mechanical and chemical conductivity in polymers.


Study Objectives



  • The carbon nanotubes market report helps in getting a deep and qualitative understanding of the global market functioning that will help in making better investment decisions from the investor’s and buyers’ end. The report covers an in-depth discussion of the market dynamics.

  • The market report helps to analyze the basis on which the global market has been segmented and the potential of these segments to make a difference to the final market valuation of the operations during the forecast period.

  • The market aims to draw a competitive market landscape of the market players and the recent developments of the players that will help in the carbon nanotubes market size expansion.


Market Segmentation


The carbon nanotubes market has been divided all across the globe based on the type, method, end-user industry, and region.


Based on the Type


The market has been divided all across the globe based on the type into multi-walled carbon nanotubes and single-walled carbon nanotubes.


Based on the Method


The market has been divided all across the globe based on the method into laser ablation, arc discharge, disproportionation, high-pressure carbon monoxide, chemical vapor deposition, and various others.


Based on the End-User Industry


The market has been divided all across the globe based on the end-user industry into the sports industry, energy sector, automotive industry, electrical and electronics industry, aerospace and defense industry, and others.


Based on the Region


The market has been divided worldwide based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.


Regional Analysis


The carbon nanotubes market has been divided all across the region based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. Being the fastest-emerging region, the largest market share in the global market is held by the Asia-Pacific region owing to the presence of countries like South Korea, Japan, China, and India which are regarded as the main junction of the automobile, electrical, and defense industry and hence drives the market demand in this region. Moreover, increasing urbanization and industrializations are another factor that creates more market demand.


The second-largest market share in the global market is held by the North American region owing to the presence of countries like the US, Canada, and Mexico that has a huge automobile sector and hence drives the market demand in this region. Moreover increasing investment in various power generation projects, aerospace projects, and automobile projects create more market demand. The presence of various major key players also drives the market demand in this region.


The third-largest market share in the global market is held by the European region owing to the presence of a well-established technologically advanced infrastructure that requires more power generation and hence creates more growth opportunities in this region. Moreover, increasing investment coupled with increased expenditure in the automobile sector drives the market demand in this region.


The Latin American region and the Middle East and African region show the least market share due to the presence of low infrastructure in both these regions. Low per capita income is another contributing factor that restricts the market growth in these regions.


Competitive Landscape


The most prominent major key players in the carbon nanotubes market all across the globe are mentioned below:



  • Chengdu Organic Chemicals Co. Ltd. (China)

  • Jiangsu Cnano Technology Co., Ltd. (China)

  • Showa Denko K.K. (Japan)

  • Cabot Corporation (US)

  • LG Chemical Limited (South Korea)

  • Nanocyl SA (Belgium)

  • Arry International Group Limited (China)

  • Kuhmo Petrochemical (South Korea)

  • Carbon Solutions Inc. (US)


These major key players adopt various strategies to endure their market position in the carbon nanotubes market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new product line, innovation in the existing product, developing a unique production process, and many others to expand their customer base in the untapped market of the carbon nanotubes market all across the globe.


Recent Developments



  • October 2021- MIT engineers have designed the latest sensor using carbon nanotubes, which can sense SARS-CoV-2 without any antibodies, offering results in minutes. The new sensor is based on technology, which can speedily produce fast and accurate diagnostics, not only for COVID-19 but also for future pandemics.
    Professor of Chemical Engineering at MIT and the senior author of the study, Michael Strano, said that a fast test means that one can open up travel much earlier in a future pandemic. Screening people getting off of an airplane becomes easier, and decisions regarding quarantine can be done quickly. Similarly, these sensors can be deployed at the workplaces as well. He added that they don’t have the technology yet to produce and deploy these sensors in bulk to prevent economic loss.
    When the researchers started working on a Covid-19 sensor, within ten days, they identified that a modified carbon nanotube is capable of selectively detecting the viral proteins and then examining them and incorporating them into a working prototype. This approach also eradicates the requirement for antibodies or other reagents, which are time-consuming to produce, purify, and make widely available.

  • In January of 2021, researchers at The University of Texas at Dallas and their colleagues in the U.S., Australia, South Korea, and China have been able to fabricate artificial muscles by twisting and coiling carbon nanotubes polymers using advanced thin-film fabrication techniques. Electrochemically powered carbon nanotube muscles offer an alternative solution to meeting the increasing need for fast, strong, large-stroke artificial muscles for applications ranging from robots to morphing clothing.

  • In July 2020, University of Tehran researchers had developed a multi-walled carbon nanotube-based electrochemical sensor. This method can detect COVID-19 using ROS and H2O2 in less than 30 seconds. After rigorous trials, the product was released to the market and is now in the marketing process.

  • Chengdu Organic Chemicals Co. Ltd. (China) is spending a considerable sum of money on research and development to get an upper edge over its competitors. This will help the company on enhancing its sales revenue.

  • The most prominent major key players are highly investing in mergers and acquisitions, joint ventures, and new products.

  • In 2014, for enhancing the electrical sectors and electronic industry, the Government of Mexico has announced the National Infrastructure plan for using energy-saving polymers like PEEK and PEI.

  • Being the fastest-emerging region, the largest market share in the global market is held by the Asia-Pacific region owing to the presence of countries like South Korea, Japan, China, and India which are regarded as the main junction of the automobile, electrical, and defense industry and hence drives the market demand in this region.


Report Overview


This global carbon nanotubes market research report includes the following components mentioned below:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Technical Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


This global market research report contains characteristics that drive the growth of the carbon nanotubes market in the global market and the factors that restrict its growth in the global market. The technical analysis in the global market during the forecasted period is mentioned. The impact of the COVID 19 on the carbon nanotubes market in the global market is mentioned. The future growth rate in the carbon nanotubes market during the review period is estimated and mentioned.



Report Scope:
Report Attribute/Metric Details
  Market Size   2020: USD 4.97 Billion 2028: USD 18.85 Billion
  CAGR   20.59%(2021–2028)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Type, Method, End-Use Industry and Region
  Geographies Covered    North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Carbon Solutions Inc (US), kuhmo petrochemical (South Korea), Arry International Group Limited (China), Nanocyl SA (Belgium), LG Chemical Limited (South Korea), Cabot Corporation (US), Showa Denko K.K. (Japan), Jiangsu Cnano Technology Co., Ltd. (China), Chengdu Organic Chemicals Co. Ltd. (China), among others.
  Key Market Opportunities   Increased interest of Government organizations around the world
  Key Market Drivers

  • Introduction and development of structural polymer composites which are light in weight.
  • Highly conductive materials used as fillers in EMI shielding materials.


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    Frequently Asked Questions (FAQ) :


    The global carbon nanotubes market is predicted to touch USD 18.85 billion by 2028.

    The carbon nanotubes market is predicted to grow at a 20.59% CAGR between 2021-2028.

    The APAC region is predicted to dominate the carbon nanotubes market during the forecast period.

    Key players have incorporated strategies such as expansion, mergers and acquisitions, product innovations, and joint ventures to increase their presence in the carbon nanotubes market.

    Healthy and safety issues and environmental concerns may restrict the carbon nanotubes market growth.