Carbon Nanotubes (CNT) Market worth $2.3 billion by 2028, at a CAGR of 14.6%

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. The carbon nanotubes (CNT) market exhibits high growth potential and is projected to reach a market size of USD 2.3 billion by 2028 from USD 1.1 billion in 2023, at a CAGR of 14.6%. 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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Some of the prominent key players are:

 

  • LG Chemical Limited (South Korea)
  • Cabot Corporation (US)
  • Showa Denko K.K. (Japan)
  • Jiangsu Cnano Technology Co., Ltd. (China)
  • Sumitomo Corporation (Japan)
  • Cheap Tubes, Inc. (US)
  • Hanwha Corporation (South Korea)

Opportunities: Growth in emerging applications

 

In industries like sporting goods and bulletproof jackets, there is a growing demand for composite materials. The strength and mechanical qualities of the completed goods are improved by the introduction of CNTs in an epoxy resin. These products also became stronger, stiffer, and lighter after high-quality finishing. CNTs are used to control or enhance chemical and mechanical conductivity in polymers and are added to anti-static packaging. CNTs is most popular in structural reinforcement. These are added to other materials to improve flexibility, increase their strength, and reduce weight.

 

Energy & storage, by end-use industry segment hold the largest growing segment in overall carbon nanotube (CNT) market during forecast period.

 

Energy & storage end-use industry holds the largest share in terms of volume in overall carbon nanotube (CNT) market. The highest volume of CNTs are consumed for energy & storage. Vehicles that need lightweight, high-energy density solutions are causing a sharp rise in the demand for lithium (li)-ion batteries. Cell phones, notebook computers, and hybrid cars all use these batteries because they have the best energy density per weight.

During the forecast period, the lithium-ion battery market is anticipated to be driven by the rising use of plug-in hybrid electrical vehicles (PHEV) and portable electronic gadgets. As a result, the market for carbon nanotubes in the energy & storage sector is anticipated to grow. Several automakers have begun concentrating on EVs as several nations have taken measures to reduce CO2 emissions and maintain a greener environment.

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The Asia Pacific region is likely to account for the largest share of the global carbon nanotube market during the 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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