The global carbon nanotubes market size is anticipated to reach USD 10.52 billion by 2028 and exhibit a CAGR of 10.2% during the forecast period. Carbon nanotubes find their applications requiring durability, thermal conductivity, electrical conductivity, and high strength. The growing demand for electronics and electrical products is expected to boost market growth. Similarly, the expansion of the aerospace industry is anticipated to bolster market growth. Fortune Business InsightsTM has presented this information in the report titled, “Carbon Nanotubes Market, 2021-2028”. The market size stood at USD 4.94 billion in 2020.
Market Scope of the Report:
The market estimates presented in the report result from a comprehensive research approach involving various research channels such as primary research, secondary research, and subject-matter expert consultations. These market estimates consider the influence of existing market dynamics and a range of economic, social, and political factors on the Carbon Nanotubes Market. Additionally, the market data is shaped by regulations, government expenditures, and advancements in research and development. Both positive and negative market changes are factored into these estimations.
Regional Insights-
Government Initiatives for Green Energy Adoption to Boost Growth in North America
Asia Pacific is projected to gain maximum market share due to the low production costs and the wide availability of raw materials. The rising demand for aerospace, electronics, automotive, and construction industries across Japan, India, Malaysia, and China is anticipated to boost the growth of the market.
North America is anticipated to attain a striking growth rate in the global carbon nanotubes (CNT) market share. The increasing investment of polymers and composites research and the rising demand for polymer production to improve the electrical, thermal, and mechanical properties of bulk products are expected to boost the growth of the region. Moreover, the government regulations to promote green energy adoption shall aid market growth.
Europe is expected to witness substantial growth due to stringent regulations for carbon nanotubes’ production and usage.
Competitive Landscape-
Key Players Adopt Ingenious Growth Strategies to Strengthen Market Positions
The market is highly competitive and concentrated. The top market players are Nonoshell LCC, SHOWA DENKO K.K., Nanocyl, and Arkema SA. The key players operating in the market emphasize lowering manufacturing costs. They adopt ingenious growth strategies such as partnerships, acquisitions, collaborations, mergers, new product launches, technological advancements, and others to accumulate growth and strengthen their market positions. For instance, in January 2020, Cabon unveiled its plans to acquire Shenzhen Sanshun Nano New Materials for USD 115 million. The acquisition will help both companies to produce carbon blacks and nanostructures for energy storage.
Research Approach:
The report incorporates primary information collected directly from key stakeholders through quantitative and qualitative analyses utilizing the Porter Five Force model’s parameters. The report emphasizes macroeconomic indicators, trends within the parent market, and growth drivers. A comprehensive understanding of the market is achieved through both primary and secondary research. Rigorous checks were performed on the data used in the report to ensure its authenticity and quality. The credibility of evaluations and market segments is established using both bottom-up and top-down methodologies.
Source-https://www.fortunebusinessinsights.com/carbon-nanotubes-cnt-market-102700
Key Players in the Global Carbon Nanotubes (CNT) Market
- Arkema SA (Colombes, France)
- Nanocyl SA (Sambreville, Belgium)
- Nanoshell LLC (Utah, U.S.)
- Carbon Solutions, Inc. (California, U.S.)
- Hyperion Catalysis International (Massachusetts, U.S.)
- SHOWA DENKO K.K. (Tokyo, Japan)
- Klean Commodities (Vancouver, Canada)
- Cabot Corporation (Massachusetts, U.S.)
- OCSiAl (Leudelange, Luxembourg)
- NoPo Nanotechnologies (Bangalore, India)
- Jiangsu Cnano Technology Co., Ltd. (Zhenjiang, China)
COVID-19 Impact-
The unanticipated emergence of the coronavirus outbreak has hampered the growth of several markets and industries. The temporary closure of manufacturing facilities has affected the growth of the market. The low available workforce and the swift immigration of the workforce due to the stringent lockdowns and curfews have negatively impacted the market’s growth. Additionally, the disruptions in the supply chain networks and the ban on global trade have collectively aggravated the situation. Nonetheless, the major economies are rapidly recovering from the pandemic due to the introduction of efficacious vaccines. The market is expected to witness rapid development post-pandemic.
Segmentation-
On the basis of product, the market is bifurcated into multi-walled carbon nanotubes (MWCNT) and single-walled carbon nanotubes (SWCNT). On the basis of application, the market is segmented into energy, electrical & electronics, plastics & composites, and others. Geographically, the market is classified into Europe, Asia Pacific, North America, Latin America, and the Middle East & Africa.
Competitive Landscape-
Key Players Adopt Ingenious Growth Strategies to Strengthen Market Positions
The market is highly competitive and concentrated. The top market players are Nonoshell LCC, SHOWA DENKO K.K., Nanocyl, and Arkema SA. The key players operating in the market emphasize lowering manufacturing costs. They adopt ingenious growth strategies such as partnerships, acquisitions, collaborations, mergers, new product launches, technological advancements, and others to accumulate growth and strengthen their market positions. For instance, in January 2020, Cabon unveiled its plans to acquire Shenzhen Sanshun Nano New Materials for USD 115 million. The acquisition will help both companies to produce carbon blacks and nanostructures for energy storage.
Industry Developments-
- January 2019: Vivakor Inc. formed a joint venture with CSS Nanotech to upgrade heavy crude to a fuel product across regions in Utah and the Middle East.
Report Coverage-
- Highlights the key trends and the recent technological advancements in the market.
- Assesses the impact of the COVID-19 pandemic.
- Envisages Porters’ Five Forces Analysis for an accurate market prediction.
- Provides vital information on the market’s competitive landscape and key player rankings.
- Provides information on recent industry developments.
