“Carbon Nanotubes (CNT) market size will grow to USD 1,714 million by 2026 from USD 876 million in 2021, at a CAGR of 14.4% during the 2021-2026 period. The driving factor for the CNTs market is the intrinsic mechanical properties of CNTs, which make them the ultimate nanomaterial.
This article also provides a comprehensive analysis of the companies listed below: Arkema S.A. (France), Arry International Group LTD. (China), Carbon Solutions Inc. (US), Cheap Tubes Inc. (US), CNT Co., Ltd. (Korea),Ocsial Llc (US),Hanwha Chemical Corp. (South Korea), Nano-C Inc. (US),Cnano Technology Ltd. (US), Toray International Group Limited (Japan),Showa Denko K.K. (Japan), Continental Carbon Company (US)
It aims at estimating the size and growth potential of the carbon nanotubes market across different segments, such as type, method, application, and region. Factors such as drivers, restraints, opportunities, and challenges influencing the growth of the carbon nanotubes market have also been studied in this report. The report analyzes the opportunities in the carbon nanotubes market for stakeholders and presents a competitive landscape of the market.
Nano-C is a highly active key player in the carbon nanotubes market. The company accounted for the largest share of all developmental activities that took place in the carbon nanotubes market between 2015 and 2018. As a part of its organic growth strategies, the company focuses on enhancing its carbon nanotube product portfolio and expanding its presence in the Asia Pacific and South American regions. For instance, in 2015, the company launched the NC7000 multiwall carbon nanotubes product. This product is made for buildings & construction applications.
Another key player that has a very strong product portfolio in the carbon nanotubes market is Continental Carbon Company. The company has a strong presence in the North American region, and it caters to the demand of the growing electrical & electronics, chemical and polymers, batteries and capacitors, energy, and other industries. The company is expanding its reach through strategies such as partnership and joint venture. In 2016, it formed a joint venture with Kemya (Saudi Arabia), which is a joint venture between Sabic and ExxonMobil. With this joint venture, Continental Carbon Company has started a 50-kilotons per year carbon black plant in Al-Jubail, Saudi Arabia. It aims to capitalize on the growing demand for carbon nanotubes in the tire industry in Europe and the Middle East & Africa.
Among types, the multi-walled carbon nanotube (MWCNT) segment is expected to grow at the highest CAGR during the forecast period; MWNT finds applications in electrical conductive transparent electrodes, conductive heating films, conductive nano inks, nanodevices, displays, chemical sensors, super batteries, supercapacitors, energy storage, solar industries, thermal interface material, and so on. The high demand from various applications, including drug delivery, field emission, interconnects, sensors, biomedical applications, and others, is also driving the global single-walled carbon nanotubes market.
By the method, the chemical vapor deposition (CVD) segment of the carbon nanotubes market is expected to grow at the highest CAGR during the forecast period; The CVD segment of the carbon nanotubes market is expected to grow at the highest CAGR during the forecast period. CVD was also the largest method segment globally in 2017. It is the cheapest among all. The prices for CVD are assumed to decrease incrementally with the improving technologies and increased production & commercialization. This decrease in price is expected to keep the CAGR for CVD on a higher side for both volume and value markets.
The Asia Pacific carbon nanotubes market is expected to grow at the highest CAGR during the forecast period; The Asia Pacific CNT market is expected to grow at the highest CAGR the forecast period, which can be attributed to the rising demand for carbon nanotubes from emerging economies of the region, including India, China, South Korea, Vietnam, Taiwan, and Singapore, among others. In addition, factors such as the improving standards of living and rising per capita incomes in the countries of the APAC region are fueling the growth of the market.