(MENAFN- ChemAnalysts) According to the ChemAnalyst report, “Carbon nanotube market: plant capacity, production, operating efficiency, demand and supply, end use, distribution channel, region, competition, trade, market analysis. Customer insight and pricing, 2015-2030 ”The carbon nanotubes market has witnessed tremendous growth during the historical period and is expected to grow at an impressive CAGR of 6.98% during the forecast period. Growing demand for high performance materials from end-user industries such as automotive, defense, aerospace, electronics and power, sports and others is expected to accelerate the demand of the global carbon nanotube market over the course of the next ten years. The production of carbon nanotubes is strongly associated with safety concerns for human health and the ecosystem before it can be introduced to the market.
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Carbon nanotubes (CNTs) are large cylindrical shaped molecules made up of sheets of carbon atoms hybridized to a single layer, i.e. coiled graphene. CNTs are considered to be one of the strongest and most rigid materials known due to their versatile properties such as high electrical conductivity, high thermal conductivity, high mechanical strength, very light weight, high performance ratio. High appearance and high chemical stability, making it ideal for various end-use applications. CNTs are widely used as additives in electronics, optics, plastics and other materials in the fields of nanotechnology. Carbon nanotubes also find application in pharmacy and medicine for drug delivery systems in therapy. The biomedical industry is the fastest growing end-use industry due to the high demand for CNT in drug delivery systems, cancer treatment, proteomics, platelet activation, tissue regeneration and other disease treatments. Multi-walled carbon nanotubes (MWCNT) consist of double-walled CNTs and have excellent tensile strength and modulus of elasticity that make it suitable for various applications in the automotive and aerospace industries. CNT is increasingly used in vertical aerospace as it facilitates the design of lightweight parts and helps reduce CO2 emissions. Factors driving the global CNT market are increased demand for lightweight structural polymer composites, conductive fillers for EMI shielding materials, and anti-static packaging.
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On the basis of technology, the carbon nanotube market is segmented into arc discharge, laser ablation of graphite, and chemical vapor deposition (CVD). The CVD process is widely used to produce carbon nanotubes because it allows greater production of carbon nanotubes under controllable conditions at lower cost. Ongoing developments in emerging technologies using CNTs and MWCNTs as well as its manufacturing process and strengthening with various materials are expected to introduce new applications during the forecast period. Many leading players are merging with new players to strengthen their R&D department and expand the production of carbon nanotubes in order to develop new ideas and innovations to increase their CNTs on the global market.
In 2020, due to the COVID-19 epidemic, the carbon nanotube market has been negatively impacted during global crises. Due to restrictions imposed by major authorities, many end-user industries have temporarily suspended operations due to disruptions in the global supply chain. Major emerging economies have seen declining demand for electronics, automobiles and construction, which has negatively impacted the global carbon nanotube market.
Regionally, the Asia-Pacific region held the largest share of the carbon nanotubes market in 2020. The dominance of the Asia-Pacific region is due to the increased demand for high-performance materials in various industries including aerospace. and defense, etc. Polymer Demand The composites market due to its high strength imparting properties and high electrical conductivity is also expected to drive the demand for carbon nanotubes in the future. Several government initiatives are also supporting the production of carbon nanotubes which find their applications in electric vehicles.
Hyperion International Catalysis
Klean Industries Inc.
Cnano Technology Limited
Future Carbon GmbH
Toray Industries Nanoshell LLC. Showa Denko kk and others.
“Being linked to downstream applications in automotive, defense, aerospace, electronics and power, energy, sports and others, the global nanotube industry carbon has grown significantly in previous years and is expected to reach an impressive CAGR during the forecast period. India is expected to reach the world’s fifth largest consumption in the coming years. Restrictions imposed by key authorities due to the coronavirus pandemic have affected the logistics of the global supply chain and caused a temporary shortage of key commodity chemicals, leading to an increase in the price of carbon nanotubes . With new competitors emerging in the Asian carbon nanotube market, it is extremely important to focus on the region which will grab the largest market share during the forecast period. Said Mr. Karan Chechi, Research Director at TechSci Research, a research-based management consulting firm that promotes ChemAnalyst around the world.
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