The Worldwide Carbon Nanotubes (CNT) Industry is Expected to Reach $1.7 Billion by 2026 at a CAGR of 14.4% from 2021 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Carbon Nanotubes (CNT) Market by Type (Single Walled & Multi Walled), End-Use Industry (Electronics & Semiconductors, Chemical Materials & Polymers, Structural Composites, Energy & Storage, Medical), Method, and Region – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.

The carbon nanotubes market is projected to grow from USD 876 million in 2021 to USD 1,714 million by 2026, at a CAGR of 14.4% between 2021 and 2026.

The demand and use of CNTs are rapidly increasing in medical, aerospace & defense, coatings, and other applications, especially in the APAC region.

The driving factor for the CNTs market is the intrinsic mechanical properties of CNTs, which make them the ultimate nanomaterial. CNTs have a unique combination of stiffness, strength, and tenacity compared to other fiber materials that usually lack one or more of these properties.

The restraining factors of the market are very high prices, limited knowledge, and easy availability of substitutes. The growth of the CNTs market is affected by its cost structure, processing difficulties, and the availability of substitutes, such as silicon carbide nanotubes (SiCNTs). CNT manufacturing methods, such as arc-discharge and laser ablation methods, are expensive, hazardous to the environment, and uneconomical for large-scale production.

Energy & Storage is projected to be the largest end-use industry of carbon nanotubes market

Energy & Storage is the largest end-use industry segment, in terms of both volume, in 2020. Energy & storage segment is sub segmented into lithium-ion batteries, fuel cells, solar PV cells, hydrogen storage, electrochemical supercapacitors, propellants, and others. The lithium-ion batteries sub-segment is expected to account for the larger share of the CNTs market in the energy & storage segment during the forecast period. The demand for lithium-ion batteries is rapidly increasing in vehicles that require lightweight and high-energy density solutions. These batteries provide the highest energy density per weight and are used in cellular phones, notebook computers, and hybrid automobiles.

Single-walled carbon nanotubes is the fastest-growing resin segment of the carbon nanotubes market

Single-walled carbon nanotubes (SWCNT) is the fastest-growing resin segment, in terms of volume, between 2020 and 2025. SWCNT are used in electrical conductive transparent electrodes, conductive heating films, conductive nano inks, nanodevices, displays, chemical sensors, super batteries, supercapacitors, energy storage, solar cells, and thermal interface material among other applications. The high demand from various applications, including drug delivery, field emission, interconnects, sensors, and biomedical applications, is also driving the growth of the SWCNT market.

APAC is the fastest market for carbon nanotubes during the forecast period

APAC is projected to be the largest and the fastest-growing market for carbon nanotubes during the forecast period. Easy availability of raw materials at competitive prices and cheap labor force have made APAC the biggest market for CNTs. Global manufacturers are increasingly setting up their production plants in the region in a bid to ramp up production and increase sales. The major end-use industries of CNTs are electronics & semiconductor, energy & storage, structural composites application, chemical materials & polymers, medical, and others.

Market Dynamics

Drivers

• Emerging Demand from the APAC Region
• High Growth of End-Use Industries, Such as Electrical & Electronics and Automotive
• Increasing Demand for Lightweight and Low Carbon- Emitting Vehicles
• Technological Advancements and Decreasing Production Cost

Restraints

• Environmental Concern and Health & Safety Issues

Opportunities

• Growth in Emerging Applications

Challenges

• Maintaining Quality and Reducing Processing Cost
• Stringent and Time-Consuming Regulatory Policies

Companies Mentioned

• Arkema SA
• Arry International Group Limited
• Cabot Corporation
• Carbon Solutions, Inc.
• Chasm Advanced Materials, Inc.
• Cheap Tubes, Inc.
• Chengdu Organic Chemicals Co. Ltd.
• Future-Carbon
• Hanwha Corporation
• Hyosung
• Hyperion Catalysis International, Inc.
• Jiangsu Cnano Technology Co. Ltd.
• Klean Commodities
• Kumho Petrochemical Co. Ltd.
• LG Chemical Limited
• Nano-C Inc.
• Nanocyl SA
• Nanolab Inc.
• Nanoshel LLC
• Nanothinx S.A.
• OCSiAl
• Raymor
• Reinste Nano Ventures
• Showa Denko K.K.
• Sumitomo Corporation
• Thomas Swan & Co. Limited
• Xinnano Materials, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/b4aqju

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