About This Report

Lubricants Market, by Type (Single-walled Carbon Nanotubes (SWCNT), and Multi-walled Carbon Nanotubes (MWCNT)), by Application (Automotive, Healthcare, Aerospace and Defence, Electronics, Energy, Plastics and Composites, Construction, and Filtration), and by Region (North America, South America, Europe, Asia Pacific, The Middle East and Africa) - Size, Share, COVID Impact Analysis, Growth, Outlook, and Opportunity Analysis, 2020 - 2028

Carbon atoms are organised in a tube-like setup to form carbon nanotubes (CNTs), which are cylindrical objects. They can be many millimetres long but have a very small diameter, usually on the nanometre range. CNTs are a promising substance for a variety of applications because of their remarkable mechanical, electrical, and thermal capabilities. With tensile strength and stiffness several times greater than steel, CNTs are incredibly strong and rigid. They can effectively disperse heat due to their strong thermal conductivity. CNTs are a potential material for electronic devices and energy storage systems due to their remarkable electrical conductivity. CNTs are being studied for a wide range of applications, including electronics, energy storage, drug delivery, and water filtration.
In 2020, the Carbon Nanotubes market was valued at US$ YY million, and it is anticipated to be around US$ YY million by 2027. Over the forecast period, the market is expected to grow at a CAGR of YY%.

Rising demand for high performance materials, and technological advancements are drivers while, high cost is a restraint

CNTs are a promising material for a variety of applications because they have outstanding mechanical, electrical, and thermal properties. The market for CNTs is being driven by a growing need for high-performance materials in a number of sectors, including electronics, energy, aerospace, and healthcare. For instance, Samsung has created a touch panel that is based on CNTs and is more flexible and resilient than conventional touch displays. CNTs are being investigated for their potential use in energy storage systems like batteries and supercapacitors as a result of their large surface area and electrical conductivity. For instance, scientists at MIT have created a battery electrode based on CNTs that has a higher energy capacity than conventional lithium-ion batteries.

CNTs are becoming more widely used in a variety of applications with advanced technologies as a result of the creation of fresh and enhanced production techniques for them and improvements in their processing and functionalization. The development of high-performing CNT-based transistors, sensors, and other electronic components is made possible by improvements in CNT manufacturing and functionality. For instance, IBM experts have created a transistor based on CNTs that can function at greater frequencies and with less power than traditional transistors.
Although CNTs have remarkable mechanical, electrical, and thermal capabilities, their expensive production cost still prevents them from being widely used. CNTs are produced using a time-consuming and expensive procedure. Chemical vapour deposition (CVD), the most popular technique for making CNTs, calls very high temperatures, specialised equipment, and costly catalysts.

Electronic sector is expected to account for significant market share by application segment

The global Carbon Nanotubes market is mainly classified based on Type, and Application. On the basis of Type, the market is divided into single-walled carbon nanotubes (SWCNT), and multi-walled carbon nanotubes (MWCNT). By Application, the market is classified into automotive, healthcare, aerospace and defence, electronics, energy, and others (plastics and composites, construction, and filtration).
Based on the application, the electronics sector is anticipated to dominate the worldwide carbon nanotube market due to the rising need for efficient electronic components and gadgets. CNTs are perfect for use in semiconductors, sensors, and other electronic applications because they have high mechanical and electrical conductivity. Many companies and universities are focusing on the CNTs development and investing on research. For instance, Researchers at the University of California, Riverside created a novel form of CNT-based battery electrode in 2021 that has the capacity of storing additional power and charge batteries more quickly than traditional electrodes. Because of the electrode's extensive porosity, ions may go through it more effectively, which speeds up charging. Additionally, A CNT-based strain sensor with a high sensitivity was created in 2021 by University of Tokyo researchers. Because of its ability to detect strains as little as 0.01%, the sensor is perfect for application in wearable technology and health monitoring systems.

Interesting Facts of Carbon Nanotubes Market

• Due to its better purity and superior quality, single-walled carbon nanotubes (SWCNTs) are generally more costly than multi-walled carbon nanotubes (MWCNTs). However, because of their special qualities, SWCNTs are also more preferred for some applications.
• The four biggest markets for carbon nanotubes are found in North America, followed by Asia-Pacific, and they are respectively in the United States, India, China, and Japan.
• There is continuous research to create more effective and economical production processes for carbon nanotubes because it is still a novel and complicated technology.
• There are several possible uses for carbon nanotubes, including in electronics, energy storage, aircraft, and medicine. However, factors including high production costs and regulatory barriers hinder their implementation in several of these businesses.
• The market is highly competitive, with several major players such as Showa Denko K.K., OCSiAl, Arkema S.A., and Nanocyl S.A. dominating the market.

Asia Pacific will account for the largest share of the Carbon Nanotubes industry

Asia Pacific is expected to account for the largest share of the carbon nanotubes industry due to the increasing demand from end-use industries, local governments initiatives and investments, and presence of key players. The electronics, automotive, and aerospace sectors, which are key users of carbon nanotubes, are among the many significant and quickly expanding end-use industries situated in the Asia Pacific area. The region's carbon nanotubes market is anticipated to increase in response to the rising demand for high-performance materials from these sectors
Governments have started programmes to encourage the creation and use of new materials and nanotechnology in nations including China, Japan, and South Korea. As a result, there has been an upsurge in funding for research and development projects focused on carbon nanotubes and the different industries in which they are used. For instance, A Nanotechnology Development Strategy has been introduced by South Korea's Ministry of Science and ICT with the goal of promoting the creation of novel nanotechnology-based components and devices, such as carbon nanotubes. Adding to this, The National Key R&D Programme, a significant financial initiative announced by China's Ministry of Science and Technology in 2019, focuses on the creation and use of innovative materials, including carbon nanotubes.
 
Global Carbon Nanotubes Market key Players:

Some of the major competitors in the global Carbon Nanotubes market include Arkema Inc., Carbon Solutions, Inc, CNano Technology Ltd., Nanocyl SA, Cheap Tubes, Inc., Hanwha Chemical Corp., Hyperion Catalysis International Inc., Kumho Petrochemical Co., Ltd., Toray Industries, Inc., Showa Denko K.K., Cabot Corporation, LG Chem, OCSiAl, and Raymor Industries Inc.
The Carbon Nanotubes is extremely competitive with aggressive market strategies of global and regional companies looking to strengthen market position through new product launches and facility expansions. The following are some recent market developments:

• Carbon nanotube producer Nanocyl of Belgium announced in February 2021 that it had been granted a €2.5 million grant from the European Union to increase its production capacity and create new products.
• A Japanese chemical company named Showa Denko declared in April 2021 that it had created a new kind of single-walled carbon nanotube that is extremely conductive and has outstanding dispersibility in solvents, making it appropriate for use in applications like transparent conductive films and flexible electronics.
• In May 2021, Arkema, a French specialty chemical company, announced that it had launched a new grade of multiwall carbon nanotubes for use in epoxy composites, which are widely used in aerospace, automotive, and other high-performance applications.
• OCSiAl, a Russian producer of single-wall carbon nanotubes, declared in June 2021 that it has concluded a distribution contract with Marubeni Corporation, a Japanese trading corporation, to increase its footprint in the Asia-Pacific region.

Frequently asked questions about global Carbon Nanotubes market

Q: What is the current size of the global Carbon Nanotubes market?
Ans: The Carbon Nanotubes market was valued at XX million US$ in 2020 and is projected to reach XX million US$ by 2027, at a CAGR of XX% during the forecast period.

Q: What are the major opportunities in Carbon Nanotubes industry?
Ans: Growing demand from emerging economies and increasing applications in healthcare are the major opportunities.

Q: What is major growth driving factor for Carbon Nanotubes industry?
Ans: Increasing demand for high-performance materials across various industries is the major driving factor

Q: Which region is expected to have the largest share of the Carbon Nanotubes market?
Ans: Asia Pacific region is expected to have the largest share of the Carbon Nanotubes market.

Q: Which application segment will dominate the Carbon Nanotubes market?
Ans: Electronic segment will dominate the Carbon Nanotubes market.