Carbon nanotubes (CNT) are one-dimensional carbon structures created by rolling graphene sheets. These advanced materials find application in various sectors, including transmission line cables, textiles, and protective armor. With exceptional strength-to-weight ratio, carbon nanotubes (CNT) outperform steel. They exist as multi-walled or single-walled cylinders, showcasing unique and unpredictable properties. This remarkable versatility and strength make carbon nanotubes (CNT) a fascinating area of research and development with immense potential for innovation in diverse fields.
According to Data Bridge Market Research the Carbon Nanotubes (CNT) Market accounted for USD 1,019.66 million in 2022, and expected to reach USD 3,436.22 million by 2030. The market is expected to grow with a CAGR of 16.40% in the forecast period of 2023 to 2030.
“Increasing demand for carbon nanotubes (CNT) in the aerospace and defense industry”
The aerospace and defense industry's increasing need for carbon nanotubes (CNT) is expected to drive market growth in the forecast period. CNTs offer exceptional properties and enable the creation of lightweight components, making them highly sought after. Their utilization in composite materials helps reduce the vulnerability to lightning strikes and potential damage on aircraft exteriors. This surge in demand for CNTs reflects their pivotal role in enhancing safety and performance in the aerospace sector.
What restraints the growth of the carbon nanotubes (CNT) market?
“Increasing concern regarding human health”
In order to mitigate the environmental impact of carbon nanotubes (CNT), manufacturing companies must comply with strict government regulations and policies. These measures aim to address the potential health risks associated with CNTs. Specifically, the accumulation of CNTs can pose significant threats to human health, potentially leading to severe ailments. Kidney damage is among the adverse effects of exposure to carbon nanotubes (CNT). Consequently, adherence to safety guidelines is crucial to minimize health hazards and ensure the responsible use of CNTs, which hampers the market.
Segmentation: Global Carbon Nanotubes (CNT) Market
The carbon nanotubes (CNT) market is segmented on the basis of method, type, technology, application, and end user.
- On the basis of method, the carbon nanotubes (CNT) market is segmented into chemical vapor deposition, catalytic chemical vapor deposition (CCVD), high-pressure carbon monoxide reaction, others
- On the basis of type, the carbon nanotubes (CNT) market is segmented into single-walled, multi-walled, others.
- On the basis of technology, the carbon nanotubes (CNT) market is segmented into arc discharge, laser ablation, CVD, catalytic CVD, high-pressure carbon monoxide, CoMoCAT, floating catalyst, others.
- On the basis of application, the carbon nanotubes (CNT) market is segmented into structural polymer composites, conductive polymer composites, conductive adhesives, fire retardant plastics, metal matrix composites, li-ion battery electrodes, others.
- On the basis of end user, the carbon nanotubes (CNT) market is segmented into aerospace and defense, chemicals and polymers, electronics and semiconductors, advanced materials, batteries and capacitors, medical, energy, others.
Regional Insights: Asia-Pacific Dominates the Carbon Nanotubes (CNT) Market
Asia-Pacific dominates the carbon nanotubes (CNT) market due to the increasing demand for carbon nanotubes (CNT) in the electronics industry is a significant driver for market growth in this region. Additionally, developing and expanding the polymer industry in emerging countries like India and China will further contribute to the market's expansion.
North America is expected to be the fastest developing region from 2023 to 2030 due to its increasing utilization across various end-use industries, including electrical and electronics, aerospace and defense, automotive, and more.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-carbon-nanotubes-market
Recent Developments
- In 2021, L.G. Chemical Limited accomplished its 1200 metric tons development of Yeosu CNT's second plant and ongoing its operation on commercial grounds. The major focus of this company is on developing and designing competitive products by using vertical integration from raw materials and developed with proprietary technologies.
- In 2021, Cabot Corporation announced the launch of a new product named ENERMAXTM 6 in its carbon segment. As a result of the high aspect ratio, it has been revealed to be the most conductive multi-walled carbon nanotubes (CNT) product in the company's portfolio. This product series is likely to increase battery performance at lower loadings.
The Prominent Key Players Operating in the Carbon Nanotubes (CNT) Market Include:
- LG Chem (South Korea)
- Cabot Corporation (U.S.)
- SHOWA DENKO K.K. (Japan)
- Dupont (U.S.)
- Solvay (Belgium)
- DAIKIN INDUSTRIES, Ltd., (Japan)
- Carbon Solutions, Inc. (U.S.)
- OCSiAl (Luxembourg)
- SABIC (Saudi Arabia)
- Nanoshel LLC (U.S.)
- Thomas Swan & Co. Ltd. (U.K.)
- Nanothinx S.A. (Greece)
- XinNano Materials, Inc. (China)
- Continental Carbon Company. (U.S.)
- KUMHO PETROCHEMICAL (South Korea)
- Raymor Industries Inc. (Canada)
- CHASM (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of carbon nanotubes (CNT) market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Carbon Nanotubes (CNT) Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
