Electronics Industry Is Likely To Make Significant Impact In The Adoption Of Carbon Nanotubes Market And Is Anticipated To Witness Growth During The Forecast Period

10/17/2024 10:11:58 PM

(MENAFN- Straits Research) Introduction

The global carbon nanotubes market is emerging market and is presumed to grow during the forecast period. The global carbon nanotubes market was valued USD 9.6 billion in 2019 and is presumed to grow at a CAGR 16.6% during the forecast period. The growth is attributed to high demand from electronics and automotive industry. Furthermore, growing demand for light weight and low emitting vehiclesis also one of the factors propelling the market growth.

Moreover, the growing proliferation of technological advancement and reduction in production costs also adds to the growth of the carbon nanotubes market. The increasing application of carbon nanotubes in industry vertical such as; automotive, construction and electronics in developing economies such as; China, Inda and Japan among others is one of the major factors fuelling the growth. Moreover, presence of enormous raw materials such as ethanol in developing economies such as; Brazil and India also pave the way for increased production of carbon nanotubes across the globe. Additionally, increasing government framework to boost the promotion of nanotechnology adoption further enhance market growth. However, environmental concerns and health and safety issues hinder the market growth.

Key Highlights

By type, multi-walled carbon nanotubes hold higher CAGR and are presumed to grow during the forecast period. The growth is attributed to surge in electronics application adoption across the globe.
By method, chemical vapor deposition method holds largest market share and is expected to witness gain during the forecast period on account of its cheaper production costs and higher yield.
By application, electronic industry holds higher CAGR and is presumed to grow during the forecast period on account of surge in demand for flexible electronics appliances.
By region, North America holds a higher market share and is expected to grow during the forecast period on account of the presence of major vendors offering carbon nanotubes.
Asia-Pacific is the fastest-growing region and is expected to witness growth during the forecast period on account of surge in government initiatives to promote renewable energy generation techniques.

Competitive Players

Hanwha Chemical Corp. (South Korea)

Nano-C Inc. (the U.S.)

Cnano Technology Ltd (the U.S.)

S.A. (France)

Arry International Group LTD. (China)

Carbon Solutions Inc. (the U.S.)

Cheap Tubes Inc. (the U.S.)

Toray International Group Limited (Japan)

Showa Denko K.K. (Japan)

Continental Carbon Company (the U.S.).

Recent Developments

January 2019 , SABIC has acquired BLACK DIAMOND STRUCTURES, a major nanotechnology company in the U.S.. The company offers various products that consist of discrete carbon nanotubes (dCNTs) uniformly dispersed in battery pastes, which enhance battery performance
In February 2018 , the U.S. Huntsman acquired carbon nanotube firm Nanocomp Technologies to develop composite materials and formulations that produce several valuable effects such as radiative heating, electrical conductivity, toughening, and corrosion prevention
In January 2020 , Cabot has acquired a China-based carbon nanotubes manufacturer. The acquisition significantly strengthens Cabot's market position and formulation capabilities in the high-growth batteries market, particularly in China, which is the largest and fastest-growing electric vehicle market in the world.
In March 2019, Nano Inc. acquired Eikos Inc. to enhance its single-walled carbon nanotubes product portfolio. This enables Nano Inc. to strengthen its position in the market and gain wide customer attraction.

Segmentation

By Type

Multi-Walled Carbon nanotube,

Single-Walled Carbon nanotube

By Method

Chemical Vapor Deposition,

Catalytic Chemical Vapor Deposition,

High-Pressure Carbon Monoxide Reaction

Others

By Application

Electronics and Semiconductors

Advanced Materials

Chemical and Polymers

Batteries and Capacitors

Aerospace and Defense

Energy

Medical

Others

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