Carbon Nanotubes Market by Size, Share, Growth & Trends by 2032
The global carbon nanotubes market is projected to reach a value of US$ 2,215.5 Mn in 2032, with the market expanding at a prolific CAGR of 9.5% from 2022 to 2032. Predicted to reach an estimated US$ 894 Mn in 2022, the target market is driven by growing demand from various industrial verticals like electronics, plastics, and energy storage.
The inherent beneficial properties of carbon nanotubes
further aid the growth of the same in the global marketplace during the
forecast period. Carbon nanotubes find major application in polymers since they
act as strength and weight enhancers. This boosts the demand for polymers
which, in turn, has a positive impact on the target market.
Further, more and more governments are investing time
and money to encourage the usage of carbon nanotubes at the domestic level
which is expected to facilitate growth in the carbon nanotubes market. In
addition to this, adoption of carbon nanotubes is escalating due to increasing
new wind energy generation projects.
An upsurge in the demand for polymers in the
electronics and electrical sector also induces market growth for carbon
nanotubes. Heightened demand for engineered plastics across diverse end-use
industries further propels the demand for polymer. This will have a positive
impact on the target market growth during 2022-2032.
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Furthermore, superior semiconducting properties are
pushing the market towards high-end applications. Carbon nanotubes are also
gaining usage in replacement existing computer chips, and plastic
additives. Owing to flame-retardant and environment-friendly properties, carbon
nanotubes are witnessing high demand. All of these factors, in addition to
others, aid the growth of the carbon nanotubes market during the projected
period.
“High mechanical strength coupled with
increasing usage in various end-use industries spearheads the global growth of
the carbon nanotubes market over the forecast period,” says
an FMI analyst.
Key Takeaways:
- High
product costs and rising health concerns will restrict the market growth.
- Escalating
demand for solar cells and wind turbines will strengthen the target market
prospects.
- The
carbon nanotubes market in North America will hold 27.9% of the global
market share.
- Europe’s
carbon nanotubes market will account for about 21.8% of the overall market
share.
- On
the basis of application, the polymer segment will grow at a significant
rate.
- The
start-up ecosystem in this market is concentrating on product innovation
and new technology.
Competitive Landscape
Nanocyl S.A., CNano Technology
Ltd., Showa Denko K.K., Arkema S.A.,
Bayer, MaterialScience AG, Chasm Advanced Materials
Inc., Raymor Industries Inc., Klean Industries Inc., Toray
Industries Inc., and Cheap Tubes among others are
some of the major players in the carbon nanotubes market profiled in the full
version of the report.
Leading market players are focusing on introducing and
developing new products and technology. These enterprises employ strategic
agreements, partnerships, mergers, and collaborations to gain a competitive
advantage.
More Insights into Carbon Nanotubes Market
Report
In its latest report, FMI offers an unbiased analysis
of the global carbon nanotubes market, providing historical data from 2017 to
2021 and forecast statistics for 2022 to 2032.
To understand the global market potential, growth, and
scope, the market is segmented on the basis of product type (multi-walled
carbon nanotubes (MWCNT), single-walled carbon nanotubes (SWCNT)), application
(carbon nanotubes application in polymers, carbon nanotubes application in
energy), and region.
According to the latest FMI reports, based on
segmentation, the polymer application segment will make the most contribution
to the growth of the global carbon nanotubes market. This segment is projected
to grow at a substantial growth rate during 2022-2032. Owing to their
lightweight nature, composites are gaining rapid traction which, in turn,
boosts the demand for the polymer segment.
Based on region, the carbon nanotubes market in North
America will exhibit considerable growth during 2022-2032. The target market in
this region holds about 27.9% of the global carbon nanotubes market share.
Progress in nanotechnology, increasing adoption of advanced technology, and
high demand for polymer production are factors that contribute to the regional
market growth.
In addition, the carbon nanotubes market in Europe
will account for 21.8% of the overall market share owing to growing electronics
industry as well as the development of the Nanospark project. Thus, North
America and Europe are two regions that are expected to present impressive growth
over the forecast period.
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Full Report: https://www.futuremarketinsights.com/reports/global-carbon-nanotubes-market
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