The global carbon nanotubes market is expected to reach USD 20.50 Billion by 2028, according to a new report by Reports and Data. Carbon nanotubes are made of rolled-up sheets of their building block graphene.
Carbon nanotubes are suitable for almost any application demanding durability, high strength, electrical conductivity, thermal conductivity, and lightweight properties as compared to conventional materials. Carbon Nanotubes and their compounds display excellent electrical properties for organic materials and have enormous potential in electrical and electronic applications like photovoltaic cells, semiconductor devices, sensors, displays, conductors, smart textiles, and energy conversion devices including fuel cells, batteries, and harvesters. Besides, their high electric conductivity, these materials have a large surface area, permitting increased electrochemical accessibility, and chemical, mechanical, and electrochemical stability. These exceptional properties form the potential for carbon nanotubes to be deployed as supplementary material for energy conversion and storage devices.
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Nanocomposites comprising these materials have garnered much traction in the market as a highly attractive substitute to conventional composite materials owing to their mechanical, thermal, electrical, barrier and chemical properties like increased tensile strength, better electric conductivity, improved heat deflection temperature, or flame retardance. These materials have the potential to deliver antistatic properties as well as weight reduction, increased wear resistance and breaking strength. For example, it has been estimated that advanced carbon nanotube composites could reduce the weight of aircraft and spacecraft by around 30%.
Pure metallic carbon nanotubes may be deployed in overhauling the electrical power grid with more efficient transmission lines, but only if they could be produced in huge quantities and uniformly.
Availability of substitutes and environmental concerns owing to the production of these materials may hamper the growth of the market in the forecast period.
Key participants include:
Arkema SA, Carbon Solutions Inc., Showa Denko K.K., Arry International Group Ltd., FutureCarbon GmbH, Unidym Inc., Continental Carbon Company, Klean Carbon Inc., Hyperion Catalysis International Inc., and Cnt Co. Ltd., among others.
Further key findings from the report suggest
Multi-walled carbon nanotubes contributed to the largest market size of USD 4.01 Billion in 2020 and are expected to have a growth rate of 16.0% during the forecast period. These consists of several concentrically interlinked nanotubes, with diameters reaching over 100 nm and are widely deployed in various end-use applications.
The synthesis of carbon nanotubes by the arc-discharge method is a cost-efficient method which uses two graphite rods kept at a distance of few mm for arc generation. Graphite is combusted electrically, and the carbon nanotubes developing in the gaseous phase are separated.
The application in the healthcare industry is projected to observe a growth rate of 16.4% in the forecast period.
The market in the Asia Pacific region is forecasted to grow at the fastest growth rate of 16.6% during the forecast period.
The market in Europe is projected to reach a market size of USD 3.09 Billion by 2028.
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For the purpose of this report, Reports and Data have segmented the global carbon nanotubes market on the basis of product type, method, applications, and region:
Product Type Outlook
Single-Walled Carbon Nanotubes
Multi-Walled Carbon Nanotubes
Laser Ablation of Graphite
Chemical Vapor Deposition (CVD)
Electrical & Electronics
Aerospace & Defense
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Conclusively, all aspects of the Carbon Nanotubes market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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