Carbon nanotubes are used in fuel cells and lithium-ion batteries in the energy sector to increase the effectiveness of energy conversion and storage. Additionally, carbon nanotubes have shown potential in the medical field for applications in tissue engineering, medication delivery, and biosensing. The market is growing as a result of the expanding use of carbon nanotubes in these sectors.
The carbon nanotubes market share is projected to thrive at a CAGR of 9.6% from 2023 to 2033. The carbon nanotubes industry size is anticipated to surpass US$ 970.9 million in 2023 and is predicted to attain a valuation of US$ 2,428.1 million by 2033.
The extraordinary qualities of carbon nanotubes include great strength, electrical conductivity, thermal conductivity, and flexibility. They are ideal for a variety of applications due to their characteristics in several different sectors, such as electronics, aviation, energy, and healthcare. Also, the demand for these materials rises as businesses continue to study and use the possibilities of carbon nanotubes.
There are several industries use carbon nanotubes. They are employed in the manufacture of high-performance transistors, conductive films, and flexible displays in the electronics sector. They improve the strength and lighten the materials used to make airplane components in the aerospace industry.
Significant investments have been made in the carbon nanotubes sector by private equity companies, large enterprises, and venture capitalists. This increase in finances has given businesses the means to increase production, advance product development, and delve into novel uses.
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Partnerships among academic institutions, research organizations, and business entities have allowed information exchange, technology transfer, and the creation of innovative solutions, further fostering market expansion.
Key Takeaways from the Carbon Nanotubes Market
- From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 6.3%.
- The global market size stood at US$ 894.0 million in 2022.
- Polymers captured nearly 59.1% share of the market in 2022.
- North America held a dominant share, accounting for 27.9% share in 2022.
- China secured an 8.1% global market share in 2022.
Recent Developments Observed by FMI:
- In January 2023, nanotechnology researchers at The University of Texas at Dallas developed distinctive carbon nanotube yarns that gather mechanical motion energy effectively than current material-based energy harvesters.
- According to Cabot Corporation, a new ENERMAXTM 6 carbon nanotube (CNT) series was developed in March 2021. The ENERMAXTM 6 range of carbon nanotube products from the firm represents the recent development in high-performance CNTs. Due to its high aspect ratio; it has been shown to be the conductive multi-walled CNT product in Cabot’s lineup.
- In May 2021, Arevo created a patent-pending technical innovation that enables the 3D printing of things reinforced with carbon nanotubes and carbon fiber. As part of a Series, B fundraising round, the business secured US$ 12.5 million to usher in the next phase of 3D printing and revolutionize the way that manufactured goods are envisioned, created, constructed, and maintained.
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Key Players Profiled in the Global Market
- Nanocyl S.A.
- CNano Technology Ltd.
- Showa Denko K.K.
- Arkema S.A.
- Bayer MaterialScience AG
- Chasm Advanced Materials Inc.
- Raymor Industries Inc.
- Klean Industries Inc.
- Toray Industries Inc.
- Cheap Tubes
Key Segments Covered in The Carbon Nanotubes Industry Analysis
by Product:
- Multi-Walled Carbon Nanotubes (MWCNT)
- Single-Walled Carbon Nanotubes (SWCNT)
by Application:
- Carbon Nanotubes Application in Polymers
- Carbon Nanotubes Application in Energy
by Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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