Carbon Nanotubes Market revenue to see 23% growth over 2018-2024 via energy sector

Thu Jan 10, 2019 - 10:30am UTC

Leading market players in carbon nanotubes market includes Continental Carbon Nanotechnologies, Carbon Solutions, Arkema SA, Nanocyl SA, Nanoshel LLC, Hyperion Catalysis International, Future Carbon GmbH, Raymor Industries Inc., Klean Commodities, Korea Kumho Petrochemical Company Ltd etc, Raymor Industries Inc, etc.

Selbyville, United States – January 10, 2019

According to the report by GMI, global Carbon Nanotubes Market is set to hit 8 billion-dollar mark by 2024, polymer based nanocomposites are an ideal solution for a new generation composite materials. They have wide applications in automotive, transportation, aerospace, energy, infrastructure and sporting goods sectors.

Multi-walled carbon nanotubes market held the highest share in global nanotubes market by the end of 2017 with a market share exceeding 75%. This segment is likely to observe a similar trend by 2024, for their unique performance characteristics. For instance, the atomic bonds of multi-walled carbon nanotubes are highly strong which allow them to withstand extreme temperatures. Multi-walled CNT have been good thermal conductors properties; also, compared to copper wires these multi-walled carbon nanotubes can transmit around 15 times the amount of watt.

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Energy segment has CAGR close to 23% of carbon nanotubes market. CNT finds significant applications as electrochemical capacitors for energy storing devices. These energies storing devices will hold significant demand in electric vehicles, renewable energy, mobile devices and uninterrupted power supplies by 2024. Carbon nanotubes have been effective as electrochemical capacitors on account of their features including: good conductivity, chemical stability, large surface area, etc. They offer strongly entangled network which allows the capacitor to deposit metal oxides thus enhancing the performance of capacitors.

CNT applications in the polymer segment shall have CAGR exceeding 20% and over next 7 years. Germany plastic industry was about USD 107.54 billion in 2017, serves as one of the largest polymer markets in Europe. Polymeric nanotubes are used as an alternative to conventional-filled polymers thus polymer reinforcement help in strengthening the composite. Rise in usage of nanotube as filler in polymer-based products will exhibit higher growth for carbon nanotubes market.

Browse key industry insights spread across 182 pages with 204 market data tables & 25 figures & charts from the report, “Carbon Nanotubes Market Size By Product (Single-Walled Carbon Nanotubes, Multi-Walled Carbon Nanotubes), By Application (Polymers, Energy, Electricals & Electronics), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, Japan, India, Australia, Indonesia, Malaysia, Brazil, Mexico, GCC, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:

Estimates claim that Asia Pacific led the global carbon nanotubes market in 2017 with a share of 35%. It has also been reported that China led the regional landscape, primarily on the account of significant deployment of electric vehicles that demand substantial use of carbon nanotubes as an electrochemical capacitor for energy storage. Other prominent countries such as India, South Korea, Indonesia, Singapore, and Malaysia have also been contributing considerably to the Asia Pacific carbon nanotubes industry share, slated to register a CAGR of 23% over 2018-2024.

In yet another vital instance, the U.S. military’s Defense Advanced Research Project Agency has recently granted a total of USD 75 million in a program that aims to revive the electronics & chip industry with research in new materials & designs such as carbon nanotubes. Researchers are reportedly fashioning the 3D chips with carbon nanotubes transistors that switch the on & off mode faster and more efficiently than the silicon transistors, in turn supporting wireless communication. Given the cooperative efforts undertaken by universities and industry leaders, the global carbon nanotubes market is set to gain much of its remuneration from these technological advancements.

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