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 global carbon nanotube (CNT) market size is projected to reach USD 2.3 billion by 2028 from USD 1.1 Billion in 2023 at a CAGR of 14.6% between 2023 and 2028. One of the largest markets for carbon nanotube (CNT) worldwide is the Asia Pacific area. The demand for CNTs is increasing in the electronics, automotive and healthcare industries. The demand from developing nations, such as China, India, Brazil, and Argentina are expected to drive the global CNTs market.
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• 348 Market data Tables
• 57 Figures
• 265 Pages and in-depth TOC on “Carbon Nanotubes Market – Global Forecast to 2028″
Some of the prominent key players are:
- LG Chemicals Limited (South Korea),
- Cabot Corporation (US),
- Resonac Corporation (Showa Denko K.K.) (Japan),
- Jiangsu Cnani Technology (China),
- Timesnano (Chengdu Organic Chemicals Co. Ltd.) (China),
- Nanocyl SA (Belgium), and many more….
Driver: Emerging demand from Asia Pacific region
Asia Pacific is the fastest-growing market for Carbon Nanotubes due to the high demand in developing countries, such as India, China, and Taiwan. The growing electronic product demand is boosting a high demand for CNTs in the region. China is leading the CNT market, it is the largest consumer in APAC and the third-largest consumer globally. The nation has a lucrative market and produces CNTs in great quantities. China plays an important role in the growth of the APAC CNTs market. The growth of the market in China is fuelled by growing investments in new manufacturing plants, aerospace & defense, automotive, rail, wind, aerospace, and infrastructure development in the country.
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Lithium-ion batteries is likely to account a largest share of end-use industry segment of the global carbon nanotube market during the forecast period.
Vehicles that need solutions with high energy density and small weight are seeing a sharp rise in demand for lithium-ion batteries. Utilized in hybrid cars, notebook computers, and cell phones, these batteries offer the best energy density per weight.
The widely used lithium batteries in portable electronics are composed of three basic parts: an electrolyte, an electrically conductive substance through which charged particles or ions can easily move, two electrodes (referred to as the anode or negative electrode), the cathode (referred to as the positive electrode), and the positive electrode. These batteries use CNTs as electrode material. CNTs are a type of electrode material used in capacitors. Because CNTs have high density and high orientation properties, this reduces the internal resistance of the capacitor.
Asia Pacific region likely to account the largest share of the global carbon nanotube market during forecasted period.
Asia Pacific is the largest market and is likely to continue in the foreseeable future. The three main end-use sectors for CNTs are automotive, building & construction, and electrical & electronics. Increased vehicle sales in the region are anticipated to have a positive effect on the market during the forecast period due to the expansion of the road and transport networks in the region and government measures to expand the industrial and infrastructure. A result of its expanded industrial production during the last five years, China now leads the world in the need for CNTs. The industry is also driven by the relocation of manufacturing operations for the chemical, automotive, and aerospace sectors from established markets to developing nations.
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