(MENAFN- GlobeNewsWire - Nasdaq) New Delhi, March 10, 2023 (GLOBE NEWSWIRE) -- global single-walled carbon nanotubes market is estimated to witness a major jump in revenue from US$ 250.8 million in 2022 to US$ 3,072.2 million by 2031 at a CAGR of 32.1% over the projection period 2023-2031.
Single-walled carbon nanotubes (SWCNTs) are a type of nanomaterial that have unique mechanical, electrical, and optical properties, which make them useful in a wide range of applications. The SWCNT market is driven by increasing demand for high-performance materials in various industries, as well as advancements in nanotechnology research. The major end-use industries for SWCNTs include electronics, energy, and biomedical applications. In the electronics industry, SWCNTs are used in the manufacture of transparent conductive films, flexible displays, and transistors.
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In the energy industry, SWCNTs are being studied for their potential use in batteries, supercapacitors, and solar cells. The biomedical applications of single-walled carbon nanotubes market are also gaining importance, with ongoing research on their potential use in drug delivery, imaging, and tissue engineering.
However, there are also concerns about the potential health and environmental impacts of SWCNTs, which may limit their adoption in some applications. The research on the safety of SWCNTs is ongoing, and regulatory authorities in various regions are monitoring their use and potential risks.
Unmatched Contributions of Armchair-Form Carbon Nanotubes: Generating Over 45% of the Global Single-walled carbon nanotubes market Revenue
Armchair-form carbon nanotubes are a significant contributor to the global single-walled carbon nanotubes (SWCNT) market, accounting for over 45% of the market revenue. These carbon nanotubes are characterized by their unique electronic properties, making them suitable for various applications, including electronics, energy storage, and medical devices. Astute Analytica's report also forecasts that the armchair-form carbon nanotubes segment will continue to hold the largest market share during the forecast period.
The growth of the armchair-form carbon nanotubes in the global single-walled carbon nanotubes market can be attributed to the increasing demand for electronic devices, as well as the growing investments in nanotechnology research and development. Armchair-form carbon nanotubes are used in various electronic applications, including transistors, sensors, and interconnects, due to their unique electronic properties, such as high electron mobility and ballistic transport.
Furthermore, the medical device industry is also a significant user of armchair-form carbon nanotubes due to their biocompatibility and potential applications in drug delivery and tissue engineering.
North America and Europe Take the Lead, Contributing Over Half of the Revenue to Global Single-walled carbon nanotubes market
Geographically, the SWCNT market is dominated by North America and Europe, which together accounted for over 52% of the market share in 2022. This is primarily due to their highly developed research and development infrastructure, technological advancements, and established industries such as electronics, aerospace, automotive, and healthcare, which have a significant demand for SWCNTs. Furthermore, these regions have a high level of investment in nanotechnology research, enabling the development of high-quality SWCNTs for various applications. The presence of several prominent market players in these regions also contributes to their dominance in the SWCNT market.
However, the Asia-Pacific region is emerging as a rapidly growing single-walled carbon nanotubes market is driven by the increasing demand from emerging economies, such as China and India, and the development of new applications of SWCNTs in industries such as energy storage, environmental remediation, and sensors.
In addition, several favorable government initiatives and investments in research and development are supporting the growth of the SWCNT market in this region. The presence of a large pool of skilled labor and low-cost manufacturing capabilities is also contributing to the growth of the market in the Asia-Pacific region.
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Top Players Hold Over 65% Revenue Share in Highly Competitive Global Single-walled carbon nanotubes market
The global single-walled carbon nanotubes market is highly competitive, with top 5 players namely OCSiAl, Thomas Swan & Co. Ltd, KH Chemicals, Cnano Technology Limited, and Continental Carbon Nanotechnologies, Inc holding more than 65% revenue share. This indicates a high level of consolidation in the market, with a few dominant players holding significant market power. The market is characterized by intense rivalry among the key players, who compete based on product quality, pricing, and innovation.
Moreover, the market is also witnessing intense competition from new entrants who are leveraging technological advancements to develop superior products at lower prices. This has resulted in a highly dynamic market landscape with rapid changes in market share and competitive positions.
In such a highly competitive environment, companies are focusing on increasing their production capacities, expanding their product portfolios, and investing in research and development to gain a competitive edge. Strategic partnerships, collaborations, and mergers and acquisitions are also becoming increasingly common as companies seek to consolidate their market positions and enhance their technological capabilities.
Import-Export Analysis: China, Japan, and the United States are Top Exporters in Global Single-walled carbon nanotubes market
The United Nations Comtrade database reports that the global SWCNTs exports were valued at approximately $16.4 million USD in 2021, which is a significant increase compared to previous years. Similarly, imports of SWCNTs in the same year were valued at approximately $21.6 million USD, reflecting the growing demand for these materials globally.
China, Japan, and the United States were the top exporters of SWCNTs in 2022, with these three countries together accounting for over 80% of the total global exports. The United States, Germany, and Japan were the leading importers of SWCNTs, accounting for over 70% of the global imports.
The demand for single-walled carbon nanotubes market is driven by various industries such as energy, electronics, and healthcare, among others. In the energy sector, SWCNTs have a vast potential for energy storage and conversion applications due to their unique properties. In the electronics industry, SWCNTs can be used for the development of high-performance transistors and other electronic components. In healthcare, SWCNTs are being explored for various applications, such as drug delivery and cancer therapy.
However, the high production cost and limited availability of high-quality SWCNTs have hindered their widespread commercial adoption in the global single-walled carbon nanotubes market. Research efforts have focused on improving the scalability and cost-effectiveness of SWCNT production, as well as developing new applications for these unique materials. As a result, the global trade of SWCNTs is expected to continue to grow in the coming years, driven by the increasing demand from various end-use industries and ongoing research and development activities.
Some of the Top Market Players Are:
Arkema SA Arry International Group Limited Carbon Solutions, Inc Chasm Advanced Materials, Inc Cheap Tubes Inc. Cnano Technology Limited Continental Carbon Nanotechnologies, Inc. Klean Industries Inc. Nano-C Inc. Nanocyl SA NanoLab Inc Nanoshel LLC OCSiAl Thomas Swan & Co. Ltd KH Chemicals Zeon Nano Technology Co., Ltd Raymor Other Prominent Players
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About Astute Analytica
Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
Contact us:
Aamir Beg
BSI Business Park, H-15,Sector-63, Noida- 201301- India
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
Email:
Website:
About Astute Analytica
Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
Contact us:
Aamir Beg
BSI Business Park, H-15,Sector-63, Noida- 201301- India
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
Email:
Website:
