Carbon Nanotubes (CNT) Market to experience an impressive growth of 18.2% during 2020-2025
January 31, 2020
Carbon Nanotubes (CNT) Market is likely to witness an impressive CAGR of 18.2% during the forecast period. The claim for carbon nanotubes has been growing rapidly in various applications such as integrated circuits, field emission displays, hydrogen storage, lithium batteries, solar PV cells, fuel cells, and drug delivery. Rising commercialization; ramping up of mounted dimensions; and technological progressions to minimize prices, enhance quality, and advance more innovative products are the drivers of the carbon nanotubes market. Presently, R&D is being adopted for seizing new applications, including glass ceramic, food material, structural steel, agriculture, and hair color. The relentless increase in the possibility of potential applications for carbon nanotubes will surge the demand going upward during the forecast period.
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Carbon Nanotubes (CNT) Market Segment Insights:
By Application Type
Based on the type, the market is segmented as multiwalled carbon nanotube and single-walled carbon nanotube. The multi-walled carbon nanotube segment is estimated to register a higher growth in the coming five years. The growth of this segment is attributed to the increasing use of MWCNTs in applications such as nanodevices, electrical conductivity, conductive transparent electrodes, super batteries, conductive heating films, chemical sensors, conductive nano inks, supercapacitors, energy storages, solar industries, and thermal interface material.
By Method Type:
Based on the method type, the market is segmented as chemical vapor deposition (CVD), catalytic chemical vapor deposition (CCVD), high pressure carbon monoxide reaction (HiPCO), and others. The CVD segment is estimated to register the highest growth during the forecast period. It is also projected to be the largest and fastest-growing segment in the coming five years. The growth of this segment is attributed to the fact that CVD of hydrocarbons over metal catalytic agents is a traditional technique that has been employed by various manufacturers to manufacture carbon nanotubes. It is also the economical method, and it is anticipated that the price will further narrow down globally in the times to come.
By Application Type:
On the basis of application type, the market is segmented as advanced materials, electronics & semiconductor, chemical & polymers, batteries & capacitors, energy, aerospace & defense, medical, and others. The electronics & semiconductor segment is estimated to depict the highest growth during the forecast period. The growth of the segment is owing to the specific properties of carbon nanotubes where they deliver exceptional electrical properties for manufacturing electronic devices such as diodes and field effect transistors.
By Region:
In terms of regions, the Asia-Pacific region is estimated to depict the highest growth during the forecast period, which can be attributed to the increasing demand for carbon nanotubes from countries such as China, South Korea, India, Vietnam, Singapore, and Taiwan. The strong demand in the region is the prime factor for the growth of the global carbon nanotubes market. China is expected to dominate the demand for carbon nanotubes owing to its rising industrial production. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Key Players:
Some of the major players in the carbon nanotubes (CNT) market are Arkema SA, Arry International Group Limited, Advanced Nanopower Inc., Chasm Advanced Materials, Inc., Chengdu Organic Chemicals Co. Ltd., Carbon Solutions, Inc., Cnano Technology Ltd., Cheap Tubes, Inc., Grafen Chemical Industries (Grafen Co.), and Hanwha Corporation.
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