KEY FINDINGS The Global Carbon Nanotube market is expected to grow at a CAGR of 23.86% during the forecast years 2017-2024. The market revenue is anticipated to increase from $1740 million in 2016 to $ 9,318 million by 2024.Technological advancements in this field of CNT through continuous R&D, high conductivity as well as tensile strength, low density, and transparency are some of the factors responsible for increasing the demand of this market.
MARKET INSIGHTS The potential to replace fragile & expensive material like indium-in-coated films, a rise in the production capacities, multiple applications across various sectors, advantages due to their physical properties, and the technological advancements in their manufacturing are some of the major driving forces for the global CNT market. The market is majorly segmented into MWCNT and SWCNT. The decreasing prices of SWCNT and an increasing demand from emerging economies are providing the global CNT market with plenty of growth opportunities.
REGIONAL INSIGHTS The Asia-Pacific is a major market for CNTs. It is a fast growing market with regions like Japan, South Korea, and China ranking as second, third and fourth respectively in the global CNT market. The demand for the CNT market is also more in countries like Japan, China, and Taiwan on account of a large-scale production of solar panel and electric storage batteries in these regions for which the CNTs are mostly used.
COMPETITIVE INSIGHTS Cheap Tubes is a prominent manufacturer for CNT, manufacturing 14 % of the total global CNT. Future Carbon GMBH is another global carbon nanotube product and solutions company which provides worldwide transformational carbon technologies and services. The other major players include Grafen Chemical Industries Ltd., Nanocyl SA, Nanothix SA, Arkema SA, Showa Denko K. K., Cnano Technologies Ltd and Hanwha Nanotech Corporations.