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Rapid technological advancements in the field of carbon nanotechnology, along with the growing application of carbon nanotubes in vehicles, are the major points driving the market profit growth.
Vanouver, Oct. 9, 2023 (GLOBE NEWSWIRE) — The length of the global carbon nanotube (CNT) market reached $876. 8 million in 2021 and is expected to register a particularly immediate CAGR during the forecast period, according to the most recent studies by Emergen Research. . . Increasing investment in studies for the progress of carbon nanotubes for various programs is a key factor that is expected to drive the expansion of the global carbon nanotubes market profits during the forecast period.
The growing demand for lightweight, fuel-efficient, and low-carbon cars is expected to drive the expansion of profits in the global automotive carbon nanotubes market during the forecast period. A giant amount of copper wire is used in electric cars (EVs). which increases your weight. Therefore, CNTs are emerging as an option for copper wires, due to their low weight and ability to reduce the fuel consumption of vehicles, which has encouraged car brands to increase their use in cars. In addition, immediate technological advancements and the increasing use of CNT in aircraft to enhance functionality is expected to drive the expansion of the market gains during the forecast period. The aerospace industry frequently reduces the weight and fuel consumption of aircraft to reduce operating costs, which is imaginable through the application of CNTs. Cords.
Growing concerns about the environmental impact of NTCs have led governments and regulatory bodies in various countries to implement strict regulatory standards, which are expected to obstruct the market’s gains during the forecast period. The nanoscale pollutants found in CNTs are not biodegradable, making them difficult to remove once the environment is polluted. Nanoparticles, when combined with air and soil, are released into rivers and lakes, which can lead to fitness disorders in animals and humans. Nanoparticles can severely damage the kidneys in humans and can also raise blood sugar levels. Such fitness and protection considerations related to NTCs may restrict their adoption and thus curb the expansion of global market profits.
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The global carbon nanotube market is expected to register a CAGR of 14. 9% during the forecasted period, with profits expected to grow from $876. 8 million in 2021 to $3,996. 78 million in 2032. Increasing application of CNT in the aerospace and defense industry and broadening the call for lightweight and low-carbon cars are points that are expected to drive the expansion of market profits during the forecast period.
The COVID-19 pandemic has had a major impact on the trade and monetary sectors, as the imposition and extension of lockdowns in several countries has led to a decline in economic activities, affecting the global economic expansion. The COVID-19 pandemic has also hampered the expansion of profits in the CNT market, and the electronics sector has seen a negative expansion due to declining demand for electronics.
China has been one of the countries hardest hit by COVID-19, and as the country is one of the world’s largest CNT brands and exporters, it has limited the global market’s profit expansion. In addition, production plants are closed or reopened at reduced capacity, due to restrictions imposed to involve the pandemic, which have disrupted supply chains around the world.
However, after the shutdown, economic activity slowly recovered, leading to an increase in demand in the automotive and electronics sectors. In addition, the governments of various countries around the world have announced economic measures and reforms to help businesses, which has led to a growing demand for products in various end-use industries. These points are expected to drive the expansion of the market’s earnings during the forecast period.
The increasing demand for NTC for the manufacture of lightweight coaxial cables for aircraft, spacecraft, and missiles is expected to drive the expansion of the market profits during the forecast period. Airplanes and spacecraft use gigantic amounts of copper coaxial cables, which can make them heavier. CNT-made cables, on the other hand, can help reduce weight and improve the functionality of aircraft, which, in turn, can reduce spacecraft operating costs. In addition, CNTs help extract heat from electronics, which can solve the challenge of overheating discovered in aerospace engineering.
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Scope of the investigation
Report Details
Result
Market in 2021
$876. 8 million
CAGR (2023-20302)
14,9%
Expected duration until 2032
USD 3,996. 78 million
Basis for Estimation
2021
Historical information
2019-2020
Forecast period
2023-2032
Quantitative Units
Revenue in millions of dollars and CAGR from 2023 to 2032.
Report Coverage
Revenue forecasts, corporate rankings, competitive landscape, expansion drivers, and trends.
Segments covered
Product Type, Technology, Application, and Region
Regional Scope
North America; Europe ; Pacific; Latin America; Middle East and Africa.
Nationwide
United States, Canada, Mexico, Germany, United Kingdom, France, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of Latin America, Saudi Arabia, United Arab Emirates, South Africa, Turkey, Rest of MEA.
Key Profiled Companies
Arkema, Carbon Solutions, Inc. , Showa Denko KK, Nanocyl SA, Nanoshell LLC, Hyperion Catalysis International, Klean Industries Inc. , Continental Carbon, CHASM Advanced Materials, and Nano-C, Inc.
Scope of Customization
10 hours of customization and free consultation.
Large Enterprises and Competitive Landscape
The global carbon nanotube market is consolidated, with giant and medium-sized players accounting for the primary percentage of revenues. Established corporations engage in studies and progression activities and projects to expand and implement new products that are more effective in the global carbon nanotube market. Marketplace. Some major corporations included in the Global Marketplace report are:
Arkema
Carbon Solutions, Inc.
Showa Denko KK
Nanocil SA
Nanoshell LLC
Hyperion International Catalysis
Klean Industries Inc.
Continental Carbon
CHASM Advanced Materials
Nano-C, Inc.
Strategic Developments
In April 2020, Cabot Corporation acquired Shenzhen Sanshun Nano New Materials Co. , Ltd (SUSN), one of China’s leading carbon nanotube manufacturers, for approximately $115 million. Cabot, with this acquisition, will enhance its position in the complex battery market, namely in Asia-Pacific, which is the largest and fastest-growing electric vehicle market in the world. In addition, Cabot has become the sole supplier of carbon additives for CNT, carbon black, dispersion functions, and carbon nanostructure.
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Some highlights from the report
The earnings of the single-walled carbon nanotubes (SWCNT) segment are expected to register a stable expansion rate during the forecast period. SWCNTs are allotropes of carbon and have a superior length-to-diameter ratio and surface area. CNTs are known to be effective thermal conductors and can be used to make light-absorbing materials, which is expected to increase their demand for the forecast period.
The medical and pharmaceutical segment is expected to register the fastest rate of expansion during the forecasted period, owing to the ability of CNTs to absorb a variety of diagnostic agents, such as antibodies, vaccines, drugs, and others.
The Asia-Pacific market is expected to register the fastest earnings expansion rate of the forecasted period, owing to the increasing use of carbon nanotubes in the industrial, electronics, and automotive sectors. Moreover, the low prices of production and hard work along with the availability of raw fabrics in countries such as China, India, and South Korea are contributing to the increase in market profits in this region.
In March 2021, Cabot Corporation, a global functional tissue and chemical company founded in Boston, Massachusetts, announced the launch of ENERMAX 6 as a component of its carbon nanotube series. It is the most conductive multi-wall CNT product in the company’s portfolio, due to its homes as its superior aspect ratio. It is designed to operate at lower loads, allowing for higher power density of the batteries.
Explore Full Report Description Research Methodology Table of Contents infographies@ https://www. emergenresearch. com/industry-report/carbon-nanotube-marketplace Emergen Research has segmented the global carbon nanotube market on the basis of product and technology, application, and region:
Product Type Outlook (Revenue, Million Dollars; 2019-2032)
Single-walled carbon nanotubes (SWCNT)
Multi-walled carbon nanotubes (MWCNTs)
Technology outlook (revenue, in dollars; 2019-2032)
Arc Discharge
Graphite Laser Ablation
Chemical Vapor Deposition (CVD)
Catalytic CVD
High-pressure carbon monoxide
CoMoCAT
Floating Catalytic Converter
Other
Implementation prospects (revenue, in dollars; 2019-2032)
Electronics & Semiconductors
Aerospace
Energy Storage
Structural Composites
Chemical Materials
Medicine & Pharmacy
Other
Regional outlook (revenue, in dollars; 2019-2032)
North America
WE.
Canada
Mexico
Europe ×
Germany
France
UNITED KINGDOM.
Italy
Spain
BENELUX
Europe’s
Pacific
Porcelain
India
Japan
South korea
Rest of ACPA
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
United Arab Emirates
South Africa
Turkey
Rest of the AMEP
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