Global Carbon Nanotubes Market 2018-2025
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Global Carbon Nanotubes Market Overview
Carbon nanotubes (CNT) are nano-sized tubes made up of carbon atoms. Their properties depend on how carbon atoms are aligned to each other in a sheet. It is gaining prominence in various industry verticals primarily due to its varied applications as well as its durability. It is 100X times stronger and 6 X times lighter when compared to steel.
The Global Carbon Nanotubes Market was worth USD XX million in 2017 and is forecasted to reach USD 2561.5 million by 2025, growing at a CAGR of XX% during the forecast period (2018-2025).
Global Carbon Nanotubes Market- Market Dynamics
Carbon nanotubes (CNT) have the potential to replace the key materials in some industries such as semiconductor and energy. Research centres are developing CNTs that can be used in solar cells as an alternative to silicon, which is the key material used in producing electricity from solar energy. By using CNTs instead of silicon, the conversion efficiency of solar cells can be enhanced.
Additionally, CNTs have the potential to replace indium-tin-coated films, which are fragile and expensive. These films are used in liquid crystal displays (LCDs), solar cells, organic light-emitting diodes (LEDs), touchscreens, and high-strength materials like bulletproof vests and hydrogen fuel cells used to power cars.
On the other side, Efficiency issues between CNT and metallic components are hampering the growth of the market. The researchers are working on avoiding resistance with connection on a scale of 10 nm or less. In October 2015, a team of researchers from IBM reported a solution for the electrical resistance problem.
Global Carbon Nanotubes Market- Segment Analysis
By Product Type, the global carbon nanotubes market is segmented into Single-walled Carbon Nanotubes (SWCNT) and Multi-walled Carbon Nanotubes (MWNT). Among these, Multiwalled Carbon Nanotubes (MWNT) accounted for the largest market share in 2017. MWNT has major applications in energy storage (batteries and supercapacitor) and conductive copper. MWNTs are highly conductive when integrated into a composite structure. However, only the outer wall alone is capable of electrical conductivity while inner walls are not capable of electrical conductivity. Also, have the good tensile strength and when integrated into a composite, such as a thermoset compound or thermoplastic, can significantly increase its strength. An ideal MWNTs have a thermal stability of more than 600°C and high purity, as a residual catalyst in the product can also catalyze decomposition.
Global Carbon Nanotubes Market- Geographical Analysis
The global carbon nanotubes market is segmented on the basis of region as North America, South America, Europe, Asia-Pacific, and Rest of the World. Among all regions, The Asia Pacific holds the majority of the share by value and by volume owing to the high production of carbon nanotubes and exponential growth of electronics and semiconductor industry with the Asia-Pacific region.
North America is the second largest region of CNT market. North America market is driven by extensive R&D from various institutes, universities and private organization within CNT technology.
According to statistics on Nanotechnology Products Database (NPD), the USA and China are the largest producers of carbon nanotubes in the world. By the end of January 2017, a number of 430 products containing carbon nanotubes have been stored on NPD. The USA, China, and Turkey possess the first ranks by having a share of 34%, 32%, and 12% respectively in the production of carbon nanotube products. The next possessions belong to India, Germany, Belgium, Australia, and Taiwan.
Global Carbon Nanotubes Market - By Value, In 2017
North America 21%
South America 5%
Asia Pacific 43%
Global Carbon Nanotubes Market- Competitive Analysis
There are more than 100 companies in the carbon nanotubes market, making it highly competitive. The major players such as Arkema Inc., Showa Denko K.K., Nanocyl S.A., CNano Technology Ltd., AG, and Hyperion Catalysis International Inc., are building commercial levels of capacity and bringing prices down significantly. Established manufacturers have an excellent market and cost advantages due to their proprietary product technology, favorable access to raw materials, government subsidies, favorable locations, and learning or experience curve efficiencies. Recently, Nanocyl launched ELASTOCYL™ HTV1001. It is a Multiwall carbon Nanotubes elastomeric dispersions for applications requiring high performances.