A study by Triton Market Research with the title ‘Global Carbon Nanotubes Market,’ covers the Global Analysis and Forecast for 2019-2028 by Verticals (Aerospace & Defense, Electronics, Energy, Healthcare, Textiles, Automotive, Other Verticals), by Application (Li-on Battery Electrodes, Fire Retardant Plastics, Conductive Polymer Composites, Structural Polymer Composites, Metal Matrix Composites, Conductive Adhesives, Other Applications), by Product Type (Single-Walled Carbon Nanotubes, Multi-Walled Carbon Nanotubes, Other Product Type), and by Geographical Region (Asia-Pacific, Latin America, North America, Middle East and Africa, Europe).
Carbon nanotubes refer to a miniature cylindrical carbon structure with molecules of hexagonal graphite. They are used in the energy sector, which majorly includes fuel cell catalysts and hydrogen storage.
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As per the report, the global carbon nanotubes market is likely to generate $18.76 billion worth revenue by 2028. The market is estimated to grow at a CAGR of 15.31% over the forthcoming years (2019-2028).
Widening applications of multi-walled carbon nanotubes due to their remarkable properties like electrical and thermal conductivity are primarily driving the demand for the CNTs. They have been used in various fields, including electronics, medicine, engineering and other applications. The rapid growth in the research & development activities across the world has resulted in various technological advancements in carbon nanotubes. However, stringent policies and regulations in the processing of carbon nanotubes owing to their hazardous nature, is restricting the market growth.
The carbon nanotubes market is segmented into three parts, verticals, application and product type. The first segment, verticals, include aerospace & defense, electronics, energy, healthcare, textiles, automotive and other verticals. The second segment, application, is divided into Li-on battery electrodes, fire retardant plastics, conductive polymer composites, structural polymer composites, metal matrix composites, conductive adhesives and other applications. The last segment, product type, is trifurcated into single-walled carbon nanotubes, multi-walled carbon nanotubes and other product type.
Considering the geographical landscape, the Asia-Pacific market is predicted to display the fastest growth in the global carbon nanotubes market during the projected period. The region is also estimated to be the largest carbon nanotubes market in the forthcoming years. India, South Korea, Australia & New Zealand and ASEAN countries are implementing several initiatives in the development of their energy sector. For instance, Australia added 5.3 GW of solar energy in 2018, growing by 295% from 2017 to 2018. It ranks fifth among the largest solar installation markets. Likewise, New Zealand is reported to have installed 85 MW of solar to date, and the potential is expected to increase even further.
Carbon nanotubes are used in the energy sector in different applications, including solar cells and hydrogen storage. They are used as supplemental material for energy conversion and storage devices. With the recent trend in demand for clean energy storage systems, like supercapacitors and secondary batteries, are likely to provide new opportunities for the application of carbon nanotubes by replacing the conventional carbon black.
Some leading companies in the carbon nanotubes market are Kumho Petrochemical, Nanoshel LLC, Zeon Corporation, Toray Industries Inc, Hyperion Catalysis International, Carbon Solutions Inc, Arkema, Hanwha Group, Meijo Nano Carbon, Cheap Tubes, Nanocyl SA, Showa Denko KK, NanoLab Inc, CHASM Advanced Materials, Thomas Swan & Co Ltd, OCSiAl, Nano-C, Raymor Industries Inc, Jiangsu Cnano Technology Co Ltd and Chengdu Organic Chemicals Co Ltd.
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Question & Answer: Carbon Nanotubes Market
Question 1: Which factors are primarily driving the demand for carbon nanotubes?
Answer: Widening applications of multi-walled carbon nanotubes due to their remarkable properties like electrical and thermal conductivity are primarily driving the demand for the CNTs. They have been used in various fields, including electronics, medicine, engineering and other applications. The rapid growth in the research & development activities across the world has resulted in various technological advancements in carbon nanotubes.
Question 2: What factors are restricting the growth of the global carbon nanotubes market?
Answer: Stringent policies and regulations in the processing of carbon nanotubes owing to their hazardous nature, is restricting the market growth.
Question 3: How is Asia-Pacific affecting the global carbon nanotubes market outlook?
Answer: Considering the geographical landscape, the Asia-Pacific market is predicted to display the fastest growth in the global carbon nanotubes market during the projected period. The region is also estimated to be the largest carbon nanotubes market in the forthcoming years. India, South Korea, Australia & New Zealand and ASEAN countries are implementing several initiatives in the development of their energy sector. For instance, Australia added 5.3 GW of solar energy in 2018, growing by 295% from 2017 to 2018. It ranks fifth among the largest solar installation markets. Likewise, New Zealand is reported to have installed 85 MW of solar to date, and the potential is expected to increase even further.
Carbon nanotubes are used in the energy sector in different applications, including solar cells and hydrogen storage. They are used as supplemental material for energy conversion and storage devices. With the recent trend in demand for clean energy storage systems, like supercapacitors and secondary batteries, are likely to provide new opportunities for the application of carbon nanotubes by replacing the conventional carbon black.
Question 4: Which are some of the leading companies in the carbon nanotubes market?
Answer: Some leading companies in the carbon nanotubes market are Kumho Petrochemical, Nanoshel LLC, Zeon Corporation, Toray Industries Inc, Hyperion Catalysis International, Carbon Solutions Inc, Arkema, Hanwha Group, Meijo Nano Carbon, Cheap Tubes, Nanocyl SA, Showa Denko KK, NanoLab Inc, CHASM Advanced Materials, Thomas Swan & Co Ltd, OCSiAl, Nano-C, Raymor Industries Inc, Jiangsu Cnano Technology Co Ltd and Chengdu Organic Chemicals Co Ltd.
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