Carbon Nanotubes Market Size Worth USD 16.22 Billion by 2027 | Revenue Growth is Driven by Increasing Demand from Industries Such as Electronics, Energy, Aerospace & Defense, Healthcare, Automotive and Textiles, says Emergen Research
Vancouver, British Columbia, June 14, 2021 (GLOBE NEWSWIRE) — The global carbon nanotube market size is expected to reach USD 16.22 Billion in 2027 registering a CAGR of 14.9% over the forecast period, according to a latest report by Emergen Research. Major factor driving market revenue growth is increasing demand of carbon nanotubes from end-use industries such as electrical & electronics, energy, aerospace & defense, healthcare, automotive, and textiles. Carbon nanotubes are compatible with a large number of applications that need resilience, electrical & thermal conductivity, robustness, and lightweight materials.
Carbon nanotubes (CNT) have remarkable electrical properties and have significant potential in electrical and electronic applications such as solar cells, smart fabrics, semiconductor devices, sensors, conductors, displays, and energy conversion equipment such as fuel cells and batteries. Carbon nanotubes have a greater surface area, which improves chemical, mechanical, and electrochemical stability in addition to their outstanding electric conductivity. Carbon nanotubes have the potential to be employed as a material for energy conversion and storage because of these outstanding qualities.
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In the coming years, government regulations regarding the detrimental impacts of carbon nanotubes on the environment may restrain market demand. The US Environmental Protection Agency (EPA) has categorised CNTs (both single-walled and multi-walled) as one of 23 chemical compounds under the Toxic Substances Control Act (TSCA). The regulation affects everyone involved in the production, importation, or processing of carbon nanotubes.
Key Highlights From The Report
- In terms of revenue, multi-walled carbon nanotubes accounted for the largest market share of USD 4.80 billion in 2019. This product’s structure improves conductivity, and the strength of atomic connections allows it to withstand high temperatures.
- The electrical & electronics industry had the second-largest market share in 2019 and is expected to register a CAGR of 14.6 percent over the projection period. Due to their small size, CNT transistors can accommodate a far larger number of transistors on a device than silicon transistors. Furthermore, compared to silicon chips, these chips are faster, more efficient, and emit far less heat.
- Due of expansion and technological improvements in the electronics industry, as well as increased manufacturing of tailored polymers (CNTs improve thermal decomposition and melting temperatures), North America held the second-largest market share in terms of revenue in 2019.
- Key participants include Arkema SA, Carbon Solutions Inc., Showa Denko K.K., Arry International Group Ltd., FutureCarbon GmbH, Unidym Inc., Continental Carbon Company, Klean Carbon Inc., Hyperion Catalysis International Inc., and Cnt Co. Ltd., among others.
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Emergen Research has segmented the global carbon nanotube market on the basis of product type, methods, industry vertical, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Single-Walled Carbon Nanotube
- Multi-Walled Carbon Nanotube
Methods Outlook (Revenue, USD Billion; 2017-2027)
- Arc Discharge
- Laser Ablation of Graphite
- Chemical Vapor Deposition (CVD)
Industry Verticals Outlook (Revenue, USD Billion; 2017-2027)
- Electrical & Electronics
- Aerospace & Defense
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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