The global carbon nanotube (CNT) market is expected to grow from USD 1.1 billion in 2023 to USD 2.3 billion by 2028 at a CAGR of 14.6% between 2023 and 2028. This is according to the report “Carbon Nanotubes Market by Type (Single Walled & Multi Walled), End Use Industry (Electronics & Semiconductors, Chemical Materials & Polymers, Structural Composites, Energy & Storage, Medical), Method, and Region – Global Forecast to 2028.” The Asia Pacific region is home to one of the biggest markets for carbon nanotubes (CNTs) globally. The electronics, automotive, and healthcare sectors are seeing a rise in demand for CNTs. The demand for CNTs is anticipated to be driven by developing countries including China, India, Brazil, and Argentina.
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A detailed TOC on the “Carbon Nanotubes Market – Global Forecast to 2028” is included, along with 348 market data tables, 57 figures, and 265 pages.
Among the well-known pivotal figures are:
· DuPont, Inc. (US)
· Toray Industries, Inc., a Japanese company
· Hydranautics in the US
Kovalus Separation Solutions (US)
· Pall Corporation (United States)
· Veolia (US), Inc.
· Pentair, the United Kingdom
· Japan’s Asahi Kasei Corporation
· LG Chem, located in South Korea
· Mann + Hummel (Germany)
· The US subsidiary of 3M Company
Factors: Growing demand from the Asia-Pacific area
The carbon nanotube market in Asia Pacific is expanding at the quickest rate because of the region’s emerging nations, including China, Taiwan, India, and China. The region’s strong need for CNTs is being driven by the expanding demand for electrical products. China is the market leader for CNTs; it is the third-biggest customer worldwide and the largest in APAC. The country generates a large amount of CNTs and has a profitable market. China is a major factor in the expansion of the APAC CNT industry. Growing investments in new industrial facilities, aerospace & military, automotive, rail, wind, and infrastructure development in the nation are what are driving the market’s growth in China.
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According to kind, the carbon nanotube market’s top sector had the largest value, which was SWCNT.
The single-wall carbon nanotube (SWCNT) type represented the greatest proportion of the carbon nanotube (CNT) market in terms of overall market value in 2022. SWCNTs are single-walled carbon nanotubes made of graphite that are frequently capped at the ends. The structure of SWCNT is a single-atom-thick sheet of graphite (graphene) rolled into a seamless cylinder. These tubes are often thinner than multi-walled tubes, with widths ranging from 1 to 2 nm. Their density, tensile strength, and elastic modulus are superior than those of steel and carbon fibers.
The market for carbon nanotubes that is expanding the quickest is Asia Pacific.
The CNTs market in the APAC region is expected to grow at the fastest rate in terms of volume and value. The APAC CNT market is expected to expand as a result of the expanding usage of CNT in significant sectors including lithium batteries and conductive polymer composites. Due to substantial investments in research and development as well as growing partnerships between CNT producers and customers, there is a major growth in demand for CNTs in this region.
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