Reports And Data

Carbon Nanotubes Market Size – USD 6.19 Billion in 2020, Market Growth - CAGR of 16.2%, Market Trends – Growing demand in energy storage

NEW YORK CITY, NY, UNITED STATES, November 8, 2021 /EINPresswire.com/ -- Increasing application of carbon nanotubes in end-use industries such as electrical & electronics is estimated to drive the market growth.

The global carbon nanotubes market is expected to reach USD 20.50 Billion by 2028, according to a new report by Reports and Data. Carbon nanotubes are made of rolled-up sheets of their building block graphene.

Carbon nanotubes are suitable for almost any application demanding durability, high strength, electrical conductivity, thermal conductivity, and lightweight properties as compared to conventional materials. Carbon Nanotubes and their compounds display excellent electrical properties for organic materials and have enormous potential in electrical and electronic applications like photovoltaic cells, semiconductor devices, sensors, displays, conductors, smart textiles, and energy conversion devices including fuel cells, batteries, and harvesters. Besides, their high electric conductivity, these materials have a large surface area, permitting increased electrochemical accessibility, and chemical, mechanical, and electrochemical stability. These exceptional properties form the potential for carbon nanotubes to be deployed as supplementary material for energy conversion and storage devices.

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Nanocomposites comprising these materials have garnered much traction in the market as a highly attractive substitute to conventional composite materials owing to their mechanical, thermal, electrical, barrier and chemical properties like increased tensile strength, better electric conductivity, improved heat deflection temperature, or flame retardance. These materials have the potential to deliver antistatic properties as well as weight reduction, increased wear resistance and breaking strength. For example, it has been estimated that advanced carbon nanotube composites could reduce the weight of aircraft and spacecraft by around 30%.

Pure metallic carbon nanotubes may be deployed in overhauling the electrical power grid with more efficient transmission lines, but only if they could be produced in huge quantities and uniformly.

Availability of substitutes and environmental concerns owing to the production of these materials may hamper the growth of the market in the forecast period.

Key participants include Arkema SA, Carbon Solutions Inc., Showa Denko K.K., Arry International Group Ltd., FutureCarbon GmbH, Unidym Inc., Continental Carbon Company, Klean Carbon Inc., Hyperion Catalysis International Inc., and Cnt Co. Ltd., among others.

Further key findings from the report suggest
Multi-walled carbon nanotubes contributed to the largest market size of USD 4.01 Billion in 2020 and are expected to have a growth rate of 16.0% during the forecast period. These consists of several concentrically interlinked nanotubes, with diameters reaching over 100 nm and are widely deployed in various end-use applications.
The synthesis of carbon nanotubes by the arc-discharge method is a cost-efficient method which uses two graphite rods kept at a distance of few mm for arc generation. Graphite is combusted electrically, and the carbon nanotubes developing in the gaseous phase are separated.
The application in the healthcare industry is projected to observe a growth rate of 16.4% in the forecast period.
The market in the Asia Pacific region is forecasted to grow at the fastest growth rate of 16.6% during the forecast period.
The market in Europe is projected to reach a market size of USD 3.09 Billion by 2028.

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For the purpose of this report, Reports and Data have segmented the global carbon nanotubes market on the basis of product type, method, applications, and region:
Product Type Outlook
Single-Walled Carbon Nanotubes
Multi-Walled Carbon Nanotubes

Method Outlook
Arc Discharge
Laser Ablation of Graphite
Chemical Vapor Deposition (CVD)

Applications Outlook
Electrical & Electronics
Aerospace & Defense
Energy
Healthcare
Automotive
Textiles
Others

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Regional Outlook
North America
Europe
Asia Pacific
Latin America
MEA

Key Questions Answered in This report on the Carbon Nanotubes Market
The report provides detailed information about the Carbon Nanotubes market on the basis of comprehensive research on various factors that play a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the Carbon Nanotubes market, so as to help them formulate successful strategies and take target-driven decisions.

How are key market players successfully earning revenue out of the advantages of the product?
What will be the Y-o-Y growth of the Carbon Nanotubes market between 2021 and 2028?
What are the winning imperatives of market frontrunners in the Carbon Nanotubes market?
Which end-user is expected to undertake maximum adoption of the product during the forecast period?

For secondary research, analysts scrutinized numerous annual report publications, white papers, and import and export data of major countries of the world, industrial production index, industry association publications, and company websites to obtain the necessary understanding of the Carbon Nanotubes market.

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Tushar Rajput
Reports and Data
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