Carbon Nanotubes (CNT) Market by Type (Single, Multi Walled), Method (Chemical Vapor Deposition, Catalytic Chemical Vapor Deposition, High Pressure Carbon Monoxide), Application (Electronics, Chemical, Batteries, Energy, Medical) - Global Forecast to 2023
The carbon nanotubes market is expected to grow at a CAGR of 16.70% between 2018 and 2023.
The carbon nanotubes market is estimated to grow from USD 4.55 billion in 2018 to USD 9.84 billion by 2023, at a CAGR of 16.70%. Growing demand from applications, such as advanced materials, electronics & semiconductors, chemical & polymers, batteries & capacitors, energy, aerospace & defense, and medical, is expected to fuel the growth of the market. The intrinsic mechanical properties of carbon nanotubes make them a suitable nanomaterial for these applications. Carbon nanotubes also have a unique combination of stiffness, strength, and tenacity compared to other fiber materials which usually lack one or more of these properties. The growth of the carbon nanotubes market is affected by the cost structure of carbon nanotubes, processing difficulties, and availability of substitutes such as silicon carbide nanotubes (SiCNTs).
Chemical vapor deposition (CVD) is expected to be the most widely used method for carbon nanotubes manufacturing during the forecast period.
By method, the CVD segment of the carbon nanotubes market is projected to have the largest share during the forecast period of 2018 to 2023. The prices for CVD are assumed to decrease incrementally with the improving technologies and increased production & commercialization. This decrease in price is expected to keep the CAGR for CVD on a higher side for both volume and value markets.
Electronics & semiconductor is expected to be the largest application segment of the carbon nanotubes market during the forecast period.
The electronics & semiconductor segment of the carbon nanotubes market is projected to account for the largest share in terms of volume from 2018 to 2023. The segment is further categorized into field emission displays, Integrated Circuits (ICs), superconductors, transistors, and others, which includes electromagnetic shielding ultra-conductors, loudspeakers, light sources, electric motors brushes, and conductive films. In integrated circuits, carbon nanotubes are used as interconnects due to their metallic characteristics. The use of carbon nanotubes in the super conductor application helps improve its critical current density in a high magnetic field and longer life cycle.
APAC is expected to be the largest market for carbon nanotubes during the forecast period.
Among regions, Asia Pacific is projected to control the largest share of the carbon nanotubes market, in terms of both volume and value from 2018 to 2023. This growth is mainly attributed to the booming economies such as China, India, Taiwan, and a few smaller countries, such as Indonesia, Vietnam, and Malaysia. China is the leader of in terms of carbon nanotubes demand in Asia Pacific. It is a rapidly developing nation with many emerging applications such as hydrogen storage, superconductors, filters, capacitors, and others.
Breakup of primary interviews:
• By Company Type: Tier 1 - 60%, Tier 2 - 30%, and Tier 3 - 10%
• By Designation: C-level - 50%, D-level - 40%, and Others - 10%
• By Region: North America - 35%, Europe - 30%, Asia Pacific - 16%, South America - 12%, and Middle East & Africa - 7%
Arkema S.A. (France), Arry International Group LTD. (China), Carbon Solutions Inc. (US), Cheap Tubes Inc. (US), CNT Co., Ltd. (Korea), Ocsial Llc (US), Hanwha Chemical Corp. (South Korea), Nano-C Inc. (US), Cnano Technology Ltd (US), Toray International Group Limited (Japan), Showa Denko K.K. (Japan), and Continental Carbon Company (US) are the key players operating in the carbon nanotubes market.
This report provides a detailed segmentation of the carbon nanotubes market on the basis of type, method, application, and region. With respect to type, the market has been segmented into multi-walled carbon nanotube and single-walled carbon nanotube. Based on method, the market has been segmented into chemical vapor deposition, catalytic chemical vapor deposition, high pressure carbon monoxide reaction, and others. Based on application, the market has been segmented into advanced materials, electronics & semiconductors, chemical & polymers, batteries & capacitors, energy, aerospace & defense, and medical. Based on region, the market has been segmented into Asia Pacific, Europe, North America, South America, and Middle East & Africa.
Reasons to Buy the Report
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), market share analysis of top players in the carbon nanotubes market, value chain analysis, and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the carbon nanotubes market, high-growth regions, and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on carbon nanotubes offered by the top players
Product Development/Innovations: Detailed insights on the upcoming technologies, research & development activities, and new product launches in the carbon nanotubes market
Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the market for carbon nanotube across varied regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the carbon nanotubes market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the carbon nanotubes market