Carbon Nanotube Market Recent Trends and Drivers Study 2022

Carbon Nanotube Market 

Carbon nanotubes (CNTs) are an allotrope of carbon. They appear as round and hollow carbon particles and have novel properties that make them conceivably valuable in a wide assortment of utilizations in nanotechnology, hardware, optics and different fields of materials science. CNTs have been pulled in tremendous consideration in the course of recent decades, in view of their phenomenal physical and concoction properties that are a consequence of their inherent Nano-sized one-dimensional nature.

Potential to replace some of the materials in semiconductor industry is one of the major drivers of the market

CNTs have the potential to replace the key materials in some industries such as semiconductor and energy. Research centers are developing CNTs that can be used in solar cells as an alternative to silicon, which is the key material used in producing electricity from solar energy. By using CNTs instead of silicon, the conversion efficiency of solar cells can be enhanced. The cyclical structure of CNTs makes them good conductors with better electron flow. CNTs have the potential to replace indium-tin-coated films, which are fragile and expensive. These films are used in liquid crystal displays (LCDs), solar cells, organic light-emitting diodes (LEDs), touchscreens, and high-strength materials like bulletproof vests and hydrogen fuel cells used to power cars. The potential to replace such vital materials is expected to drive the demand for CNTs during the forecast period.

For instance, in 2016, engineers at University of Wisconsin-Madison have come up with a faster CNT based transistors and researchers of Berkley Lab have come up with the smallest transistor with SWCNT as a gate electrode in it.

Rise in production capacities of Multi-walled carbon nanotubes (MWNT) is driving the market growth

MWCNT dominates this market space due to its low production cost and high-scalability. Whereas, SWCNT still has issues with scaling up the volume produced and reducing the cost.  Techniques available for CNT production such as substrate-free growth and substrate-bound growth while deploying vapor-solid-solid (VSS) and vapor-liquid-solid (VLS) are widely adopted for catalyst-based synthesis. But, for large-scale potential applications, it is necessary to have specific homogeneous properties while maintaining lower cost.  Most large-scale CNT production techniques yield mixtures of CNTs, which are characterized by different physical properties and diameters. Many CNT vendors are investing heavily in new production facilities to meet the growing demand from sectors such as consumer goods, electrical and electronics, energy, healthcare, automobile, and aerospace and defense.  Among countries, China has increased the production of CNTs backed by high government funding for nanomaterials. In April 2015, Cnano Technology raised USD 15 million in its series C funding round. The company will use the funds to expand its high-quality CNT manufacturing operation. 

Asia-Pacific Carbon Nanotube Market holds highest market share in 2018

DMI segments the global Carbon Nanotube market into – North America, South America, Europe, Asia-Pacific (APAC), and Middle East and Africa.

Asia-Pacific is the largest region within global CNT market. The Asia-pacific market is anticipated to grow at a significant pace owing to increased production of CNT and rapid growth experienced by electronics and semiconductor industry within Asia-Pacific region. China is the dominant market accounting for 47% in 2018 in this region due to government funding in the 12th five-year plan for the development of CNTs. Apart from China, Japan, South Korea, and Taiwan are leading producers of CNTs. The market in these countries is driven by increased demand for CNTs in applications such as capacitors and batteries.

Competitive Market with Few Major Contributors

There are more than 100 companies in the carbon nanotubes market, making it highly competitive.  The major players such as Arkema Inc., Showa Denko K.K., Nanocyl S.A., CNano Technology Ltd., AG, and Hyperion Catalysis International Inc., are building commercial levels of capacity and bringing prices down significantly. Established manufactures are having an excellent market and cost advantages due to their proprietary product technology, favorable access to raw materials, government subsidies, favorable locations, and learning or experience curve efficiencies. Product know-how is a key factor for success in CNTs.

Recently, Nanocyl launched ELASTOCYL™ HTV1001. It is a Multiwall carbon Nanotubes elastomeric dispersion for applications requiring high performances. The company has a strategic agreement with NanoBest Corp. Nanocyl offers its products through a network of partners in South Korea, Japan, India, Malaysia, Singapore, Taiwan, and China.

Carbon Nanotube Market Taxonomy:

By Product Type

• Single-walled carbon nanotube (SWCNT)
• Multi-walled carbon nanotubes (MWNT)

By Application

• Energy
• Electronics
• Aerospace & aviation
• Automotive
• Biomedicine
• Others

Get free insights on Carbon Nanotube Market Report.

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