Carbon Nanotubes Market
Carbon Nanotubes (CNT) Market is segmented by Type (Single, Multi Walled), Method (Chemical Vapor Deposition, Catalytic Chemical Vapor Deposition, High-Pressure Carbon Monoxide), Application (Electronics, Chemical, Batteries, Energy, Medical), and Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2022-2029.
Carbon Nanotubes Market Overview
Report analyses the Global Carbon Nanotubes Market size, shares, recent trends, competitive intelligence, and future market outlook. Demand from Electronics, Medical, Energy, Chemical, Batteries in Asia Pacific is rising. Competitive rivalry intensifies with Nanocyl SA, CNano Technology Ltd, Cheap Tubes, Inc and others operating in the 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. Carbon nanotubes (CNTs) have been pulled into tremendous consideration in recent decades, because of their phenomenal physical and concoction properties that are a consequence of their inherent nano-sized one-dimensional nature.
The worldwide carbon nanotubes showcase is expanded because of the presence of endless local players. The tremendous interest from the buyers and the absence of separation among items from various makers open entryways for new players. With huge potential to develop, numerous youthful organizations are entering the worldwide carbon nanotubes advertisement market.
Carbon Nanotubes Market Scope and Summary
Metrics |
Details |
Market CAGR |
16.1% |
Segments Covered |
By Type, By Method, By Application, and By Region |
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
Fastest Growing Region |
Asia Pacific |
Largest Market Share |
North America |
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Carbon Nanotubes (CNT) Market Dynamics and Trends
- Advantages due to physical properties, potential to replace other materials, and rise in production capacities are key drivers for market growth. Multiple advantages are applicable because of the physical structure and its properties. The structure of CNT is closely related to graphite, which is traditionally made by stacking sheets of carbon on top of one another. This structure offers extraordinary electrical, mechanical, optical, thermal, and chemical properties to CNTs. Being carbon-based products, CNTs are not vulnerable to environmental or physical degradation issues. Due to this advantage, CNTs are in high demand and are used in multiple applications such as medicine, aerospace and defense, electronics, automotive, energy, construction, and sports.
- CNTs have the potential to replace the key materials in some industries such as semiconductors 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. 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), touch screens, and high-strength materials like bullet-proof 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.
- Efficiency issues between CNT & metallic components, degradation of performance of IC with metallic CNT, and difficulty in aligning CNT in chips are the restraints that are hampering the growth of the market. The majority of the ICs require 100% semiconductor CNTs. Separating the metallic CNT from semiconductors is a major issue. The conduction of electricity between the nanotube and the metallic components of an IC is not efficient due to the increase in electrical resistance, which decreases the size of the connection. These factors might hamper market growth within the forecast period.
Carbon Nanotubes (CNT) Market Segmentation Analysis
Based on product type, the global market for carbon nanotubes is broadly segmented as Single-walled carbon nanotubes (SWCNT) and multi-walled carbon nanotubes (MWNT). The Multi-walled carbon nanotubes (MWNT) market value was US$ 770.8 million in 2018 and is expected to reach USD YY million by 2021 with a CAGR of YY% during the forecast period 2022 to 2029. MWNCTs have major applications in energy storage (batteries and super-capacitor) and conductive copper. MWNTs are highly conductive when integrated into a composite structure. However, only the outer wall alone is capable of electrical conductivity while inner walls are not capable of electrical conductivity. MWNTs have a high aspect ratio with lengths almost 100 times longer than the diameter, and in certain cases much longer. Their performance and application depend on aspect ratio and the degree of entanglement and the straightness of the tubes.
Based on Application, the market is divided into energy, electronics, aerospace & aviation, automotive, bio-medicine, and others. The carbon nanotube market for electronics segment value was US$ 228.0 million in 2021 and is expected to reach US$ YY million by 2029 with a CAGR of 16.1% during the forecast period 2012 to 2029. The unique electrical and mechanical properties of CNTs make them useful in the development of transistors, semiconductor components, electrostatic packaging, hard-disk drive components, integrated circuits (ICs), and IC test and burn sockets. These components are necessary for every electronic device. Thus, the rise in electronic devices such as smartphones and tablets will lead to growth in the CNT market. In addition, the growing adoption of Internet of Things (IoT) devices, which require these components, will further increase the adoption of CNTs. In October 2016, Berkley lab announced the world's first transistor with a working 1-nanometer gate with a 1D SWCNT as a gate electrode.
Global Carbon Nanotubes (CNT) Market Geographical Share
The global Carbon Nanotubes is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
The Asia Pacific carbon nanotube market value was US$ 350.2 million in 2021 and is expected to reach US$ YY million by 2029 with a CAGR of YY% from 2022 to 2029. The Asia Pacific holds the majority of the share of 43% by value and 45% by volume of the market owing to the high production of CNT and exponential growth of the electronics and semiconductor industry in the Asia-Pacific region. The Asia-pacific market is anticipated to grow at a significant pace owing to increased production of CNT and rapid growth experienced by the electronics and semiconductor industry within the Asia-Pacific region. The market in these countries is driven by increased demand for CNTs in applications such as capacitors and batteries. China is the dominant market accounting for 47% in 2017 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.
North America is the second-largest region within the global CNT market. In North America, many research institutes in the region are being funded by many private capitalists. The importance given to nano-technology in this region is expected to positively impact the growth in the CNT market. The advancement of new technology in this region is driving the carbon nanotube market. In November 2016, a professor and a student from the Department of Physics of the US Naval Academy developed a technique to bridge two electrical conductors by assembling CNTs guided by liquid crystals.
Carbon Nanotubes (CNT) Market Companies and Competitive Analysis
- Some of the key market players in the global carbon nanotubes market are Showa Denko K.K., Nanocyl SA, CNano Technology Ltd., Arkema Inc., Hyperion Catalysis International Inc., Hanwha Chemical Corp., Kumho Petrochemical Co., Ltd., Toray Industries, Inc. Carbon Solutions, Inc. and Cheap Tubes, Inc.
- In October 2018, Envigo, an independent European research laboratory, conducted studies on possible ecotoxic effects of TUBALL single-wall carbon nanotubes, produced by OCSiAl. It is a one-atom-thick sheet of graphene that is rolled into a tube: this type of nanotube possesses several exciting properties, including high flexibility, that are far superior to those of multi-wall carbon nanotubes or carbon fibers.
- In June 2018, Grace Continental Korea expanded its line of nanotube-based concentrates and launch the production of TUBALL MATRIX single-wall carbon nanotube-based concentrates specifically for application in silicones and for composites, coatings, and resins.
- In May 2018, Arevo developed a patent-pending technologically advanced breakthrough that makes it possible to 3D print out objects which are reinforced with carbon fiber as well as carbon nanotubes. the company raised $12.5 million in a Series B funding round to introduce the next era of 3D printing and transform the way manufactured products are conceived, designed, built, and maintained.
Key Points
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In the US, the President's budget for 2016 provides USD 1.5 billion for the National Nanotechnology Initiative (NNI), an R&D program involving nanotechnology-related activities of 20 federal departments and agency units. Since its inception, the NNI received 22 billion in total funding.
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Funding in the U.S. reflects the government's confidence in nanotechnology's potential to develop solutions for critical national needs. Many research institutes in the region are being funded by many private capitalists.
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In Germany, the main suppliers of carbon nanotubes in large quantities are Bayer Material Science and Future Carbon GmbH. Only recently Bayer Material Science(BMS), one of the world's largest polymer companies, invested $25.03 million into the newly opened pilot facility for the manufacture of CNTs at Chempark Leverkusen.
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With an annual production capacity of 200 metric tons, it is the largest facility of its kind in the world. Additionally, several German research institutes and universities are increasingly active in the field of CNTs, graphene, and their composites.
Report Takeaways:
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Advantages due to physical properties, potential to replace other materials, and rise in production capacities are key drivers for market growth.
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Efficiency issues between CNT & metallic components, degradation of performance of IC with metallic CNT, and difficulty in aligning CNT in chips are the restraints that are hampering the growth of the market.
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The global carbon nanotube market for Multi-walled carbon nanotubes (MWNT) value was US$ 770.8 million in 2018.
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The carbon nanotube market for electronics segment value was US$ 228.0 million in 2018.
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The Asia Pacific holds the majority of the share of 43% by value and 45% by volume.
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North America is the second-largest region within the global CNT market. In North America, many research institutes in the region are being funded by many private capitalists.
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There are more than 100 companies in the carbon nanotubes market, making it highly competitive.
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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.
Frequently Asked Questions
What is the Projected CAGR value of the Carbon Nanotubes (CNT) Market?
The carbon Nanotubes (CNT) Market is expected to grow at a CAGR of 16.1% during the forecasting period 2022-2029.
Which region controlled the global market during 2022-2029?
North America region Controls the Carbon Nanotubes (CNT) Market during 2022-2029
Which is the fastest growing region in the Carbon Nanotubes (CNT) Market?
Among all regions, Asia Pacific is the fastest growing market share during the forecast period.