(MENAFN- EIN Presswire) EINPresswire/ -- The global carbon nanotubes (CNT) market continues to gain momentum, driven by rising demand across key end-use industries, the growing shift toward renewable energy solutions, and rapid advancements in carbon nanotechnology. According to a report by Allied Market Research, the market was valued at $15.3 billion in 2017 and is projected to reach $103.2 billion by 2030, registering a robust CAGR of 16.3% from 2021 to 2030.

However, the market also faces certain challenges. Production scale-up limitations and the resulting high manufacturing costs, along with increasing demand for alternatives such as inorganic and boron nitride nanotubes, are hindering growth. Despite these obstacles, the commercialization of CNT-based transistors, expanding biomedical applications, and extensive R&D efforts are expected to create significant growth opportunities in the coming years.

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Market Segmentation:

By Type:

- Multi-Walled Carbon Nanotubes (MWCNTs) dominated the market in 2017, accounting for nearly three-fourths of the total share.
- Single-Walled Carbon Nanotubes (SWCNTs) are forecast to grow at the fastest rate, with a CAGR of 20.9% during the forecast period.

By Technology:

- The CVD segment held the largest share in 2017.
- The catalytic CVD segment is expected to record the highest CAGR of 17.9% from 2021 to 2030.

Regional Insights:

- Asia-Pacific emerged as the leading region in 2017, capturing nearly two-fifths of the global market. It is also projected to exhibit the highest growth rate, with a CAGR of 17.5% throughout the forecast period, driven by strong manufacturing activity, increasing R&D investments, and expanding renewable energy initiatives.

Key Market Players:-

The report highlights several prominent players shaping the industry landscape, including:

- Cabot Corporation, Arkema SA, CHEAPTUBES, CHASM Advanced Materials Inc., Jiangsu Tiannai Technology Co. Ltd., Hyperion Catalysis International, Kumho Petrochemical, Klean Industries, Nano-C, LG Chem, Nanostructured & Amorphous Materials Inc., Nanocyl SA, OCSiAl, Nopo Nanotechnologies, Raymor Industries, Ossila Ltd., Thomas Swan & Co. Ltd., Showa Denko K.K., Tokyo Chemical Industry Co. Ltd., and Toray Industries.

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About Us

Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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