The global Carbon Nanotubes (CNT) market size is expected to reach USD 2.23 billion by 2028 according to a new study by Polaris Market Research. The report “Carbon Nanotubes (CNT) Market Share, Size, Trends, Industry Analysis Report, By Product (Multi Walled CNT, Single Walled CNT); By Application (Polymers, Electrical & Electronics, Energy, Medical); By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Growing demand from the construction and automotive segment for the polymer is the major driver for the growth across the globe. Developed and developing economies are inclined towards reducing footprint which is expected to boost the demand for CNT over the coming years.
The energy, electric & electronics, and healthcare segment have witnessed significant demand in the past few years for energy conservation, energy storage, and better health diagnosis of patients respectively, contributing to the growth.
The multi-walled carbon nanotubes segment was the leader in the year 2020, accounted for its application in polymers and in electronic industries. The medical sector is expected to gain a larger share in the application segment as it can be integrated using advanced medical science for drug delivery, disease treatment, and biosensing. Rising demand for utilization of wind and solar energy as a clean alternative is expected to propel the growth in the coming years owing to its application in energy storage using lithium-ion battery.
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Asia Pacific led the market in the year 2020 in terms of revenue due to the presence of key players in the region. Singapore, China, Japan, and India exhibited significant growth in electronics manufacturing in recent years which is predicted to drive the market growth in the forecast period. North America is expected to witnessed market growth in the coming years owing to the presence of high-end production facilities of engineered polymers such as PEEK and PEI in the region.
Prominent players in the market INCLUDE Jiangsu Cnano Technology Co., Ltd., Showa Denko K.K., Chengdu Organic Chemicals Co. Ltd., LG Chemical Limited, Cabot Corporation, Nanocyl SA, Arkema SA, Sumitomo Corporation, Cheap Tubes, Inc., Hanwha Corporation, Arry International Group Limited among others.
Industries are focusing on mergers, acquisitions, partnerships, product portfolio expansions, and R&D to gain a competitive edge. In the year 2020, Chemspec North America entered into a distribution agreement with Naocyl SA a Belgium-based company.
It empowered the organization to distribute and promote its several multi-walled carbon nanotubes products. The major focus was to expand the multi-walled carbon nanotubes products in elastomer and thermoplastic compounding.
Polaris Market research has segmented the Carbon Nanotubes (CNT) market report on the basis of product, application, and region:
Carbon Nanotubes (CNT), Product Outlook (Revenue – USD Million, 2016 – 2028)
- Multi-Walled Carbon Nanotubes (MWCNT)
- Single-Walled Carbon Nanotubes (SWCNT)
Carbon Nanotubes (CNT), Application Outlook (Revenue – USD Million, 2016 – 2028)
- Electrical & Electronics
- Transdermal Drug Delivery
- Cancer Treatment
Carbon Nanotubes (CNT), by Regional Outlook (Revenue – USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- Saudi Arabia
- South Africa