In 2017, the global carbon nanotubes market size was USD 1.36 billion. Growing demand in the production of technology-intensive products such as touch panels, automotive parts, electronic packaging, surfboards, medical devices, industrial components, ice hockey sticks, golf clubs, plastic additives, transportation fuel system components, and battery electrode additives is expected to increase the global carbon nanotubes market demand over the projected period.
Multiwall carbon nanotubes (MWCNT) dominated the global carbon nanotube market share in 2017 with a consumption exceeding 1 kilo ton. MWCNT market is expected to grow by virtue of increasing demand for composites and polymer applications in electrostatic discharge, automotive components, lithium-ion battery, and aerospace structural parts. Single-walled carbon nanotubes market is expected to grow steadily on account of high prices and limited end-user industries such as passive electronics industry.
The size of the global market for Carbon Nanotubes is expected to reach $ 18.85 Billion by 2030, expanding at a compound annual growth rate (CAGR) of 20.59%.
In 2017, catalytic chemical vapor deposition (CCVD) and chemical vapor deposition (CVD) together accounted for more than 70% of the global carbon nanotube market share. Large scale production output, a high degree of control, high purity and yield, and easy scalability has increased adoption of CCVD and CVD manufacturing techniques over the past few years.
Global electrical & electronics manufacturing market size was more than USD 2 trillion in 2017 and is growing rapidly by virtue of the introduction of automation and robotics. Carbon nanotubes in electrical & electronics application accounted for more than 10% of the overall market share in 2017. High electrical and thermal conductivity, large aspect ratio, small diameters, and outstanding mechanical properties make carbon nanotubes ideal for electrical & electronics application. Increasing usage in electronic devices, biosensors, white light sources, transistors, lithium-ion batteries, cathode ray tubes, hydrogen storage cells, electrical shielding, and electron field emitters is expected to increase market penetration over the coming years.
Global healthcare expenditure in 2017 was more than USD 7 trillion. Increasing population coupled with technological advancement in the healthcare industry is expected to increase carbon nanotube market expansion over the coming years. Increased adoption as a channel in biotechnology and biomedical for drug delivery, biosensors, transfection of DNA, and sheathe for enzymes is projected to add market growth over the projected period.
North America carbon nanotubes market accounted for more than 25% of overall market share in 2017. New product development and technological upgrade in automotive and electrical & electronics industry in the U.S., and Canada are expected to unleash innovations in carbon nanotubes industry over the coming years. Growing demand for consumer electronics and electric vehicles in this region is expected to open opportunities for carbon nanotubes manufacturers over the coming years. Carbon nanotubes are also extensively used in lithium-ion batteries. Increasing lithium-ion battery demand for smartphones to enhance efficiency and extend shelf life is projected to increase the adoption of carbon nanotubes over the coming years.
The global carbon nanotubes (CNT) market is consolidated in nature as leading players accounted for more than 60% of the overall market share in 2017. Key manufacturers operating in this industry are Nanocyl SA, SHOWA DENKO K.K., Cnano Technology, Arry International Group Limited, Arkema, Carbon Solutions, Inc., CNT Co., Ltd., Cheap Tubes, OCSiAl, Hanwha Chemical Corporation, Nano-C, and Continental Carbon Company.
Manufacturers operating in global carbon nanotubes market are adopting M&A strategies to strengthen their global position and gain a competitive advantage over other manufacturers. For instance, in 2019, SABIC, a Saudi based manufacturing company engaged in chemicals, fertilizers, petrochemicals, and industrial polymers, acquired Black Diamond Structures, a company specialized in producing carbon nanotubes. Adding BDS product portfolio such as MOLECULAR REBAR in SABIC’s specialty business is expected to open new avenues beyond the energy storage industry. In addition, in 2014, CurTran LLC, an American company, specialized in nanotube wire conductors, had signed an agreement with Weatherford International Ltd. According to this agreement Weatherford will sell, use and distribute LiteWire, a CNT technology in cable and wire form.
Antimicrobial Additives Market Scope
|Revenue forecast in 2030
|$ 18.85 Billion
|CAGR of 20.59% during 2020-2030
|Type, Method, End-Use Industry, Region.
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|ARKEMA S.A., CABOT CORPORATION, CHASM ADVANCED MATERIALS INC., SHOWA DENKO K.K., THOMAS SWAN AND CO. LTD., TOKYO CHEMICAL INDUSTRY CO. LTD., TORAY INDUSTRIES INC., CHEAP TUBES, HYPERION CATALYSIS INTERNATIONAL, LG CHEM, NANO-C, NANOCYL SA, NANOSTRUCTURED & AMORPHOUS MATERIALS INC., NOPO NANOTECHNOLOGIES, OSSILA LTD., JIANGSU TIANNAI TECHNOLOGY CO. LTD., KLEAN INDUSTRIES INC., KUMHO PETROCHEMICAL, RAYMOR INDUSTRIES INC.
Key segments of the global carbon nanotubes market
- Multiwall Carbon Nanotubes
- Single-Walled Carbon Nanotubes
Manufacturing Method Overview
- Chemical Vapor Deposition
- Catalytic Chemical Vapor Deposition
- Arc Discharge
- Laser Ablation
- Electrical & Electronics
- Aerospace & Defence
- North America
- Middle East & Africa
- Latin America