Carbon Nanotube Global Market Report 2023
Major players in the carbon nanotube market are Cabot Corporation, Showa Denko K.K., Jiangsu Cnano Technology Co., Ltd., Chengdu Organic Chemicals Co. Ltd., Arkema SA, Carbon Solutions Inc., LG Chemical Limited, Carbonics Inc.
New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Carbon Nanotube Global Market Report 2023" - https://www.reportlinker.com/p06316153/?utm_source=GNW
, DexMat, Inc., Zeon Corporation, Raymor Industries Inc., Meijo Nano Carbon Co. Ltd., Arry International Group Limited, and Nanocyl SA.
The global carbon nanotube market grew from $3.63 billion in 2022 to $4.28 billion in 2023 at a compound annual growth rate (CAGR) of 17.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The carbon nanotube market is expected to grow to $7.75 billion in 2027 at a CAGR of 16.0%.
The carbon nanotube market consists of sales of armchair carbon nanotubes and chiral carbon nanotubes.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The carbon nanotube refer to the hybridized carbon atoms that are arranged in hexagonal that 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.
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 and Africa.
The main types of carbon nanotubes include single-walled nanotubes, double-walled nanotubes, and multi-walled nanotubes.The single-walled nanotubes refer to the one-dimensional, cylindrically shaped allotropes of carbon with a high surface area to aspect ratio (length to diameter ratio).
The physical attributes of single-walled carbon nanotubes include diameters between 0.7 and 1.0 nm (nanometer), and lengths ranging between a few nano meters to micro meters. These carbon nanotubes are manufactured from arc discharge, laser ablation, chemical vapor deposition, catalytic chemical vapor disposition, high-pressure carbon monoxide, CoMoCAT, floating catalyst, and others. They are used in electronics & semiconductors, energy & storage, chemical materials & polymers, medical, structural composite applications, and others.
Increasing demand for lightweight and low carbon-emitting vehicles is expected to drive the carbon nanotube market.In the automotive industry, carbon nanotubes are widely used as electrically conductive additives in automotive plastics for fuel systems, as a reinforcement material in vehicle production and others.
The companies operating in the automotive sectors are increasingly investing in innovative materials such as carbon nanotubes to develop lightweight and low carbon-emitting vehicles.According to the study published by Loughborough University, in order to meet the current emission targets and adopt the latest innovative engine technologies, automotive companies are expected to reduce the current weight of the car by 25%.
Therefore, the rise in demand for lightweight and low carbon-emitting vehicles is expected to boost the carbon nanotube market during the forecast period.
The continuous R&D activities to capture applications such as glass-ceramic, structural steel, and others is a key trend gaining popularity in the carbon nanotube market.The companies operating in the carbon nanotubes market are increasingly investing in R&D activities for the development of innovative carbon nanotubes to meet the fast-growing demand from various end-use industries and strengthen their market position.
For instance, OCSiAl, a Luxembourg-based nanotechnology company is planning to invest $300 million in the establishment of a new graphene development center, which will be focused on developing innovative carbon nanotube technologies for niche industries such as batteries, industrial coatings and other end-use industries.
In January 2020, Cabot Corporation, an American-based specialty chemicals and performance materials company acquired Shenzhen Sanshun Nano New Materials Co., Ltd (SUSN) for $115 Million. With this acquisition, the Cobot company is focused on the development of a world-class solution for customers and establishing a comprehensive range of products. Shenzhen Sanshun Nano New Materials Co., Ltd (SUSN) is a China-based company involved in the manufacturing and distribution of carbon nanotubes and dispersions to lithium-ion battery manufacturers across the globe.
The countries covered in the carbon nanotube market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The carbon nanotube market research report is one of a series of new reports that provides carbon nanotube market statistics, including carbon nanotube industry global market size, regional shares, competitors with a carbon nanotube market share, detailed carbon nanotube market segments, market trends and opportunities, and any further data you may need to thrive in the carbon nanotube industry. This carbon nanotube market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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