Global Carbon Nanotube Market Size 2024, Forecast To 2033
11 Mar, 2024
The carbon nanotube market size has grown rapidly in recent years. It will grow from $4.28 billion in 2023 to $5.06 billion in 2024 at a compound annual growth rate (CAGR) of 18.1%. The growth in the historic period can be attributed to growth in emerging markets, growing electronics manufacturing and increase in aerospace industry. factors that negatively affected growth in the historic period were the covid-19 pandemic and health hazards, environmental concern and safety issues in the production and technology. The carbon nanotube market size is expected to see rapid growth in the next few years. It will grow to $9.33 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to increasing investments, increasing use of carbon nanotubes in various industries and growing demand for lightweight and low carbon emission vehicles. Major trends in the forecast period include investing in research & development (r&d) activities, using artificial intelligence to grow carbon nanotube and adopting strategic partnership & collaboration.
Global Carbon Nanotube Market Key Driver
The rising demand for lightweight and low carbon-emitting vehicles is expected to propel the carbon nanotube market. In the automotive industry, carbon nanotubes find widespread use as electrically conductive additives in automotive plastics, reinforcing materials in vehicle production, and more. Automotive companies are increasingly investing in innovative materials like carbon nanotubes to meet emission targets and develop lightweight, eco-friendly vehicles. According to a study by Loughborough University, automotive companies aim to reduce the current weight of cars by 25% to adopt the latest engine technologies and meet emission targets. Thus, the growing demand for lightweight and low carbon-emitting vehicles is poised to stimulate the carbon nanotube market, a trend expected to continue in 2023, 2024, and 2028.
Get A Free Sample Of The Global Carbon Nanotube Market ReportGlobal Carbon Nanotube Market Segments
The carbon nanotube market covered in this report is segmented –
1) By Product: Single Walled Nanotubes, Multi Walled Nanotubes
2) By Method: Chemical Vapor Deposition (CVD), Arc Discharge, Laser Ablation, Floating Catalyst, Comocat, Catalytic Chemical Vapor Deposition (CCVD), High-Pressure Carbon Monoxide, Other Methods.
3) By End User: Electronics And Semiconductors, Energy And Storage, Chemical Material And Polymers, Medical And Pharmacy, Structural Composites Applications, Other End-Use Industries
By Geography:The regions covered in the carbon nanotube market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the carbon nanotube market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the carbon nanotube market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Carbon Nanotube Industry Players
LG Chem Ltd, Kumho Petrochemical, Arkema S.A, Showa Denko K.K., Cabot Corporation, OCSiAl, Jiangsu Cnano Technology Co. Ltd., Hyperion Catalysis International, Nano-C, Nanocyl SA, Meijo Nano Carbon Co. Ltd, Zeon Corporation, Chengdu Organic Chemicals Co. Ltd, Shenzhen Sanshun Nano New Materials Co. Ltd, The Linde Group, Messer Group, Amcs Corporation, Mitsubishi Heavy Industrial Ltd, Air Liquide, Praxair Inc, Ngk Spark Plug Co Ltd, Taiyo Nippon Sanso, Oxair, Air Products And Chemicals Inc, Royal Dutch Shell, Aker Solutions, Equinor, Total Energies, Nano - C, Canatu, Nanomix, Nantero, Cheap Tubes, Exxonmobil Russia, Lukoil, Polish Energy Group, Zeroco2, Terrasigna, Continental Carbon Company, Klean Commodities, Raymor Industries Inc, Carbon Solutions Inc, Nanoshel Llc, Hanwha Chemical Corporation, Sabinano, Sasol, Carbacid Investments Limited, Afrox.
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Carbon Nanotube Market Overview
The carbon nanotube refers to the hybridized carbon atoms that are arranged in hexagonal and consist of cylindrical large molecules, which can be formed by a rolling single sheet of graphene or a double sheet of graphene. They possess strong structural, mechanical, and electronic properties, due to their nano-sized physical attributes such as small size and low mass.
Carbon Nanotube Global Market Report 2023 provides data on the global carbon nanotube market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The carbon nanotube market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.