Carbon Nanotubes Market worth $2.3 billion by 2028 – At a CAGR of 14.6%

According to a market research report, the “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. Asia Pacific is the largest carbon nanotube (CNT) market that is projected to register the highest CAGR during the forecasted period. This high growth is due to the growing demand from the automotive, electronics & semiconductors end-use industries.

 

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This report also provides a comprehensive analysis of the companies listed below:

The major Players in carbon nanotube (CNT) Market include 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), Arkema SA (France), Sumitomo Corporation (Japan), Cheap Tubes, Inc. (US), Hanwha Corporation (South Korea), are the key players in the global carbon nanotube (CNT) market. Toray International Group Limited (Japan), Kumho Petrochemical Co. Ltd. (South Korea), Klean Commodities (Canada), Thomas Swan & Co. Limited (UK), Raymor (Canada) are some of the startups in the global carbon nanotube (CNT) market.

 

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Globally, LG Chemical Limited is a top producer of IT electronics materials, petrochemicals, and energy solution materials. The business caters to the semiconductor and circuit board material sectors while producing CNTs under the advanced material segment. Additionally, it uses its numerous marketing subsidiaries in Asia, Americas, and Europe as well as established R&D networks to serve its clients globally with distinctive goods.

Cabot corporation is specialized in chemicals and performance. The company is headquartered in Boston, Massachusetts, US. The company’s businesses offer a wide range of products and solutions to their customers worldwide, serving key industries such as infrastructure, transportation, environment, and consumer. The company operates through four business segments, namely reinforcement materials, purification solutions, performance chemicals, and others. Its international network consists of 37 manufacturing facilities in 20 different nations.

 

MWCNT, by type segment is expected to hold largest share during the forecasted period.

In terms of volume for carbon nanotube (CNT) market overall, multi-wall carbon nanotube (MWCNT) type held the largest share in 2022. Multi-wall carbon nanotube consists of concentric tubes or cylinders of carbon. Carbon end-caps are usually employed to seal the ends of tubes. Double-wall tubes, bamboo, and herringbone architectures are other MWCNT types. Compared to single wall carbon nanotubes, multi-wall carbon nanotubes are simpler to manufacture in large quantities.

 

Energy & storage, by end-use industry segment hold the largest growing segment 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.

 

Lithium-ion batteries is likely to account a largest share of end-use industry segment of the global carbon nanotube market

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. 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.

 

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