Global Carbon Nanotubes 2020-2023 | is projected value USD 6026.4 million to expand at a CAGR of 20.36% during the forecast to 2027
Market Highlights
The Global
Carbon Nanotubes (CNTs) Market was valued at USD 1,659.8 million in 2018 and is
projected to register a CAGR of
20.36% to reach USD
6,026.4 Million by the end of 2025. Nanotechnology is the
emerging field of science dealing with nanoparticles (1 nm = 10−9m). Carbon
nanotubes (CNTs) are nanoparticles with a size range of 1–150 nm and they offer
unique properties that are valuable in nanotechnology and other fields of
material science. These tubes are made of layer/layers of graphene which are
rolled to form a seamless cylinder. On the basis of number of tubes present,
the CNTs are classified as single-walled carbon nanotubes (SWCNTs) and
multi-walled carbon nanotubes (MWCNTs). Most of the SWCNTs have a diameter
close to one micron and made by wrapping a one-atom-thick layer of graphene
into seamless cylinder. On the other hand, MWCNTs consist of multiple rolled
layers (concentric tubes) of graphene.
Market Players
Market Research Future (MRFR) recognizes the following
companies as the key players in the Global Carbon
Nanotubes Market: Arry
International Group Limited (China), Showa Denko K.K. (Japan), Nanocyl SA
(Belgium), Arkema SA (France), Carbon Solutions, Inc (US), Thomas Swan &
Co. Ltd (UK), NanoLab Inc (US), Nanoshel LLC (US), KUMHO PETROCHEMICAL (South
Korea), Grafen Inc (Turkey), and LG Chem (South Korea).
Segmental Analysis
According to MRFR analysis, the global carbon
nanotubes (CNTs) market has been segmented based on type, method, end-use
industry, and region.
Based on type, the global carbon nanotubes (CNTs)
market has been bifurcated into single-walled carbon nanotubes (SWCNTs) and
multi-walled carbon nanotubes (MWCNTs). Among these, the MWCNTs segment
dominated the global carbon nanotubes market by volume in 2018 due to its low cost, which leads to its
larger preference by consumers. The segment is expected to register a CAGR of over 22% during the forecast period.
By method, the global carbon nanotubes (CNTs) market
has been classified into chemical vapor deposition, high-pressure carbon
monoxide disproportionation, arc discharge, laser ablation, and others. Among
these, the chemical vapor deposition was the predominant market segment in 2018 with over 97% market share by volume due
to its relatively high yield and low cost.
On the basis of end-use industry, the global carbon
nanotubes (CNTs) market has been segmented into aerospace & defense,
electrical & electronics, automotive, energy, sports, and others. Among
them, the electricals & electronics segment held the largest market share
of around 42% by volume
in 2018 due to the increasing application of
carbon nanotubes (CNTs) in the industry on account of its outstanding
properties.
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Key Findings of the Study:
- The global carbon nanotubes market is projected to register a
CAGR of 20.36% to reach USD 6,026.4 million by the end of 2025.
- Based on type, by volume, the MWCNTs segment held the largest
market share in 2018 and is expected to grow at a CAGR of over 22% during
the forecast period.
- Based on method, the chemical vapor deposition segment held the
largest market share by value and volume in 2018. The segment was sized at
2,592.71tons in 2018.
- On the basis of end-use industry, the electricals &
electronics segment was sized at 701,974.1 tons in 2018.
- Asia-Pacific accounted for the largest market share of 57.3% by
volume in 2018 due to the rapid industrial growth in the region. The
region is expected to grow at value CAGR of over 22% during the forecast
period.
Regional Analysis
Geographically, the global carbon nanotubes market has
been divided into Asia-Pacific, Europe, North America, Latin America, and the
Middle East & Africa. As per MRFR analysis, the Asia Pacific market was the
dominant regional market, accounting for the largest share of around 55% by
volume in 2018 and is expected to register highest CAGR during the forecast
period. Asia-Pacific is followed by North America, which accounted for the
second-largest share of the global carbon nanotubes market in 2018.
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