Global Nanotubes Market - Segmented by Product type, Application, End-user Industry and Region - Growth, Trends, and Forecast (2018 - 2023)
The global nanotubes market is expected grow at a moderately high rate during the forecast period (2018 - 2023), majorly driven by growing adoption of carbon nanotubes in major end-users. A nanotube is a nanoscale material that has a tube-like structure. It can be made from various materials, such as, carbon, boron, or silicon. Each of these has its own applications in new technologies.
Increasing Adoption of Carbon Nanotubes in Major End-users is Driving the Market
Carbon Nanotubes (CNTs) can act as antennas for radios and other electromagnetic devices. Conductive CNTs are used in brushes for commercial electric motors, replacing traditional carbon black. The nanotubes improve electrical and thermal conductivity as they stretch through the plastic matrix of the brush. Innovations in developing robust and reliable production methods, with proper control and measurement at atomic scale, have surfaced repeatedly. With reduced production time and cost, carbon nanotubes market has a potential for high growth in the forecast period.
Carbon Nanotubes to Dominate the Market
Carbon nanotubes are playing a crucial role in technological advancements in medicine, electronics, engineering, and various other applications. There is an increased demand for carbon nanotubes applications, such as, sensors, field effect transistors, light emitters for field emission displays, batteries, fuel cells, double layer capacitors and electronic chips, among others, and has been met successfully by the increase in global production. Developments in carbon nanotube fabrication have led to substantial decrease in the price from more than USD 150 per gram in 2000 to under USD 50 per gram in 2010 and near USD 2 per gram. The increasing adoption of novel manufacturing techniques and increasing applications of carbon nanotubes is driving their demand globally.
United States is dominating the nanotubes Market
The United States is one of the largest markets for nanotubes in the region of North America. The US has witnessed a constant increase in the use of nanotubes in recent years, due to its significant growth in major end-user industries. Aerospace manufacturing has resumed in the country with investments larger than USD 25 billion, since 2012. The aerospace industry is shifting more manufacturing investments to the United States, after a decade. Hence, this is expected to increase the consumption of nanotubes in the country. Another major end-user industry where the use of nanotubes is more is the energy sector. The United States is one of the leading countries in the production and supply of energy, and is one of the world’s largest energy consumers, thus majorly boosting the nanotubes market in the forecast period.
April 2017: Air Products starts up new plant in Chongqing city for China’s leading LCD Panel Fab.
Major Players: Archema, Nanocyl, Air Products & Chemicals, and Showa Denko amongst others.
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