Global Carbon Nanotubes Market - Segmented by Type, End-User Industry and Geography - Growth, Trends and Forecasts (2018 - 2023)
The global carbon nanotubes market is expected to witness a high CAGR of 17.09%, owing to increase in the utilization of carbon nanotubes in the electronics industry. Technological advancements to bring down prices and improve quality are also likely to stimulate the carbon nanotubes market during the forecast period.
Electronics Applications Driving the Market
Carbon nanotubes (CNTs) for electronics applications are still under a strong focus for research. They exhibit excellent electrical properties, and have a huge potential in electronics applications, such as photovoltaic, sensors, semiconductor devices, and conductors. CNTs are used for making transistors, and are applied as conductive layers for the rapidly growing touchscreen market. Increasing demand for smartphones and rising investments in China and India are likely to drive the carbon nanotubes market.
CNTs in composites Increasing Demand from Aerospace & Defense Industry
Demand for CNTs is on a significant rise from the aerospace & defense industry, owing to their superior properties and capability to facilitate designing of lightweight parts. They are used in composite materials which are employed on external surface of aircrafts to reduce the risk of damage and penetration during lightning strikes. With the increase in air traffic across the globe, the demand for airplanes is rising at a rapid rate, which, in turn, is likely to drive the carbon nanotubes market.
Electrical & Electronics Industry Making Asia Pacific the Biggest Market
In terms of consumption in 2017, Asia-Pacific registered the largest regional market for carbon nanotubes. Penetration of CNTs in the electronics and energy industry is contributing to higher demand in this region. New agreements and construction plans in Asia-Pacific are coming up to meet the growing demand for travel. In May 2017, US aircraft giant, Boeing, had started to build its first overseas factory in China, aiming to deliver 100 Boeing 737 planes per year. This is likely to drive the market in Asia-Pacific at a high rate, compared to other regions.
In August 2017, Anhui Xibao Macromolecule Material, an experienced hi-tech Chinese manufacturer of industrial coatings, together with OCSiAl, the world leader in producing a novel universal additive – single wall carbon nanotubes – held an international forum on the applications of nanotubes in ESD flooring.
Major Players: Arkema S.A, Hanwha Chemical Corporation, OCSiAl, Toray Industries, Inc. and Showa Denko K.K. amongst others.
Reason to Purchase this Report
To understand the impact of various type on the market.
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating type and end-user industry in the market
Countries expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
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