Global Carbon Nanotubes Market Is Set to Increase About $20.10 Billion By 2030

31-May-2023 | Zion Market Research

The global carbon nanotubes industry size was nearly $10.01 Billion in 2022 and is set to increase to about $20.10 Billion by 2030 along with securing the highest CAGR of 8.1% from 2023 to 2030.

Global Carbon Nanotubes Market Size

Carbon nanotubes are one-dimensional allotropes of carbon made up of graphene rolling sheets. Furthermore, its exceptional features have garnered notable interest since its discovery. It is a tube made up of carbon having diameters that are measured in nanometers. Reportedly, carbon nanotubes can also be termed as tubes with carbon-wall structure along with a diameter of nearly 100 nanometers.

Beneficial properties such as excellent electric conductivity, high tensile strength, and thermal conductivity will prop up the scope of the global carbon nanotubes market growth. The rise in the demand for carbon nanotubes in electronics, composite materials, nanotechnology, and material science will steer the expansion of the global market. An increase in the use of carbon nanotubes in the automotive and construction sectors will embellish the global market trends. Growing clean energy demand is likely to translate into an expansion of the global market in the years ahead.

Nevertheless, growing health hazards owing to carbon nanotubes can put brakes on the global carbon nanotubes industry surge. However, the rise in demand for carbon nanotubes in hydrogen storage devices and flat panels will open new growth avenues for the global industry. This, in turn, will also offset the adverse impact of hindrances on the industry across the globe.   

Global Carbon Nanotubes Market

The global carbon nanotubes market is segregated into type, end-use, method, and region.  

The type segment of the carbon nanotubes market is subdivided into single-walled and multi-walled segments. Furthermore, the multi-walled segment, which contributed more than one-fourth of the global market share in 2022, is predicted to establish its segmental dominance in the coming years. The segmental surge in the forthcoming years can be attributed to escalating demand for multi-walled carbon nanotubes in healthcare, optical devices, and electric devices. The thriving electronics & semiconductor sector will embellish the popularity of multi-walled carbon nanotubes. Apart from this, these products find large-scale applications in solar cells, electrodes, heating films, displays, nanodevices, super batteries, supercapacitors, and thermal interface metals.

On the basis of end-use, the carbon nanotubes industry across the globe is divided into electronics & semiconductors, chemical materials & polymers, medical, structural composites, and energy & storage segments. The medical segment, which held nearly three-fifths of the global industry share in 2022, is set to register the fastest CAGR in the upcoming years. The expansion of the segment in the analysis timeframe can be owing to the rise in the application of carbon nanotubes in transdermal drug delivery systems finding use in the medical sector.

In terms of application, the carbon nanotubes market across the globe is segmented into chemical vapor deposition, high-pressure carbon monoxide reaction, and catalytic chemical vapor decomposition segments. Moreover, the catalytic chemical vapor decomposition segment, which dominated the segmental growth in 2022, is anticipated to record the fastest CAGR in the forthcoming years. The segmental growth over the forecast timeline can be due to the economic feasibility of producing carbon nanotubes on a large-scale

Furthermore, the North American region, which contributed majorly towards the overall share of the carbon nanotubes market in 2022, is predicted to continue its domination in the ensuing years. The regional market surge in the next few years can be owing to humungous funding of research projects researching composites & polymers. Apart from this, a rise in the number of production units in the countries such as the U.S. and Canada will proliferate regional market size.

Furthermore, the carbon nanotubes industry in Asia-Pacific, which recorded lucrative growth in 2022, is set to register the highest CAGR of about 17.3% over the anticipated timespan. The factors that are anticipated to bolster the growth of the regional market include the presence of a large number of product manufacturers in India, China, Australia, and Japan.

Browse the full “Carbon Nanotubes Market By Type (Single-Walled and Multi-Walled), By End-Use (Electronics & Semiconductors, Structural Composites, Medical, Chemical Materials & Polymers, and Energy & Storage), By Method (Chemical Vapor Deposition, High-Pressure Carbon Monoxide Reaction, and Catalytic Chemical Vapor Decomposition), and By Region - Global, And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030???????” Report at https://www.zionmarketresearch.com/report/carbon-nanotubes-market

 Recent Developments:

  • In the first quarter of 2021, a U.S.-based specialty chemicals & performance materials firm referred to as Cabot Corporation introduced a new ENERMAX 6 carbon nanotube series. Reportedly, the product is high-performing carbon nanotubes having a huge aspect ratio and it is in the range of most multi-walled carbon nanotubes products in the product portfolio of Cabot.
  • In the second quarter of 2021, LG Chem Ltd., a chemical firm based in South Korea, established a carbon nanotube production unit in South Korea. Moreover, the firm aims at producing carbon nanotubes that will be used for producing cathodes for electric cars.
  • In the first half of 2020, Cabot Corporation acquired Shezhen Sanshun Nano New Materials, a major China-based nanotube manufacturer, for nearly USD 115 million. The move will contribute majorly to the expansion of the global carbon nanotube industry.

Key players in the global carbon nanotubes market include:

 

  • Cheap Tubes Inc.
  • Klean Carbon Inc.
  • Carbon Solutions Inc.
  • Nanocyl S.A.
  • Nanolab Inc.
  • Nanothinx S.A.
  • Southwest Nanotechnologies Inc.
  • Toray Industries Inc.
  • Hanwha Chemical Co. Ltd.
  • Arry International Group Limited
  • Among Others.

The global carbon nanotubes market is segmented as follows:

By Type

  • Single-Walled
  • Multi-Walled

By End-Use

  • Electronics & Semiconductors
  • Structural Composites
  • Medical
  • Chemical Materials & Polymers
  • Energy & Storage

By Application

  • Chemical Vapor Deposition
  • High-Pressure Carbon Monoxide Reaction
  • Catalytic Chemical Vapor Decomposition

 By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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