Carbon Nanotubes (CNT) is the intrinsic mechanical properties of CNTs, which make them the ultimate nanomaterial.
This report also provides a comprehensive analysis of the companies listed below: 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), NANOCYL SA, ARKEMA SA, SUMITOMO CORPORATION, CHEAP TUBES, INC., HANWHA CORPORATION
The carbon nanotubes market has been segmented based on type (single-walled carbon nanotubes and multi-walled carbon nanotubes), method (chemical vapor deposition, catalytic chemical vapor deposition, high-pressure carbon monoxide reaction, and others), end-use industry (electronics & semiconductor, energy & storage, chemical material & polymers, medical, structural composites application, others), and region (APAC, Europe, North America, South America, and Middle East & Africa.
LG Chemical Limited (South Korea) is a leading manufacturer of petrochemicals, IT & electronic materials, and energy solution materials across the globe. The company conducts its CNTs manufacturing under the IT & electronic materials segment and serves semiconductor and circuit board material industries. It also operates through its multiple marketing subsidiaries in Asia, Europe, and the Americas and established R&D networks to provide differentiated products to its customers, globally. In April 2020, LG Chem completed expansion of the CNTs Yeosu plant. This plant has a capacity of 1,200 tons and costs around 65 billion KRW (around USD 54 million).
Cabot Corporation (US) is a leading global specialty chemicals and performance materials company headquartered in Boston, Massachusetts, US. The company’s businesses deliver a broad range of products and solutions to customers in every corner of the globe, serving key industries such as transportation, infrastructure, environment, and consumer. The company has four business segments such as reinforcement materials, performance chemicals, purification solutions, and others. In March 2021, Cabot Corporation announced the launch of a new product named ENERMAX 6 under its carbon segment. Due to its properties such as high aspect ratio, it has proven to be the most conductive multi-walled CNT product in the companys portfolio. This product series is expected to effectively enhance battery performance at lower loadings, enabling a higher energy density of batteries.
“Multi-walled carbon nanotubes is projected to be the largest type of the carbon nanotubes market.”
Multi-walled carbon nanotubes (MWCNT) leads the overall CNTs market, in terms of volume, due to its excellent tensile strength. Moreover, when MWCNTs are integrated into a composite, such as thermoplastic or thermoset compounds, it can significantly increase their strength. MWCNTs can also be easily spread on plastic materials, which improve the mechanical properties of the components and reduce their weight without affecting their performances. Using MWCNTs in automotive and aerospace industries enables fuel-saving and helps lower carbon dioxide (CO2) emissions.
“Medical is the fastest-growing end-use industry of the carbon nanotubes market.”
Medical is the fastest-growing end-use industry, in terms of value, in 2020. The medical segment of the CNTs market is sub-divided into transdermal drug delivery, cancer treatment, proteomics, others (cardiac autonomic regulation, platelet activation, tissue regeneration & others). The use of CNTs with biological systems can bring about advancements in medical science, especially diagnostics, biosensing, drug delivery, and disease treatments.
“APAC is the largest carbon nanotubes market globally.”
APAC is projected to lead the carbon nanotubes market and this dominance is expected to continue till 2026. The market size for CNTs in APAC is expected to increase because of the rising penetration of CNTs in key applications such as conductive polymer composites and lithium batteries. The growing partnership between the suppliers and buyers of CNTs and substantial research & development spending have resulted in a significant upsurge in demand for CNTs in this region.