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.
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.
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.
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.
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.
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.
The most prominent major key players in the carbon nanotubes market all across the globe are mentioned below:
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.
This global carbon nanotubes market research report includes the following components mentioned below:
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.
|Market Size||2020: USD 4.97 Billion 2028: USD 18.85 Billion|
|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||
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.