The Global Market for Carbon Nanotubes is Forecast to Reach US$10.3 Billion by 2024
Strong Engineering Interest
in CNT Backed by Untapped Potential Value of the Nanomaterial in Modifying
Polymer Material Properties & Geometries to Drive Growth in the Carbon
Nanotubes Market, According to a New Report by Global Industry Analysts,
Inc.
GIA launches comprehensive analysis of
industry segments, trends, growth drivers, market share, size and demand
forecasts on the global Carbon Nanotubes market. The global market for Carbon Nanotubes is forecast to reach
US$10.3 billion by 2024, driven by robust
R&D investments in carbon nanomaterials against the backdrop of spiraling
engineering interest in developing advanced composites for manufacturing high
performance automobiles, aircraft, industrial equipment, sporting goods, heavy
machinery and tools and construction materials, among others.
As one of the most popular nanomaterial
with the highest potential for commercialization in a wide range of industries,
carbon nanotubes (CNTs) are currently the building block of nanotechnology
innovation. Defined as molecules of pure
carbon measuring in nanometers and shaped like a tube, CNTs are extremely
strong, stronger than even steel, given the fact that they are a single chain
of unbroken covalent carbon-carbon bonds. Few of the properties of CNTs that
make them irresistible among nanotech researchers in diverse sectors include
superior mechanical strength; excellent electrical and thermal conductivity;
high tensile strength; lightweight with just 25% of the density of steel;
unrivalled levels of flexibility and elasticity that enables significant
deformation without damage; and good electron field emitters properties, among others. With improved understanding of the
behavior of nanomaterials coupled with improving technologies to control
nanotube production processes, CNTs are poised for an exciting period of
growth, new discoveries and real world commercial applications. Developments in
functionalization and synthesis methods for CNTs and a parallel rise in
entrepreneurial opportunities will remain crucial for future growth in the
market.
Among the many composites, CNT based
composites are attracting the strongest R&D interest given their numerous
unique characteristics such as superior mechanical strength; excellent
electrical and thermal conductivity; high tensile strength; lightweight with
just 25% of the density of steel; unrivalled levels of flexibility and
elasticity, among others. Their ability to reinforce varied types of materials
with strength and desired properties which can be customized to individual
needs make CNTs a truly valuable composite with huge untapped potential. Growth in the market is heavily dependent on
commercialization patterns in key end-use application sectors and the overall
business climate in these industries. For instance, CNTs in aircraft and
automobile production will benefit from the optimistic outlook for aircraft and
vehicle production. In the electronics end-use sector, CNTs holds potential
over the longer term in overcoming silicon based barriers in miniaturization.
Ability to push beyond the physical limits of Moore’s Law
posed by current silicon technology will guide future growth of CNTs in this
space. CNTs find widespread use as construction material reinforcement for the
simple reason that hollow strings of carbon atoms feature incredible strength
and integrity. CNTs help build crack proof roads, and bridges with high load
bearing capacity. Demand for CNT
reinforced building materials will especially be strong in the civil
infrastructure construction projects as governments seek to enhance the
durability of roads, tunnels, and bridges and thereby increase ROI on
investments.
As stated by the new market research
report on Carbon Nanotubes, Asia-Pacific represents the largest and the fastest growing market
with a CAGR of 21.4% over the analysis period given the fact that the region
harbors the fastest growing end-use application industries such as aerospace
and defense; construction; automotive; healthcare and medical technology; electronics
and semiconductors and energy generation; among others. The growth in the
region will also benefit from the increased financial resources dedicated
towards R&D and commercialization of nanotechnology and nanomaterials given
its potential to revolutionize manufacturing, generate unimagined efficiency improvements
and drive overall economic growth and competitiveness of emerging countries.
Major players in the market include Arkema
S A, Carbon Solutions, Inc., Catalytic Materials LLC, CHASM Advanced Materials,
Inc., Cheap Tubes Inc., Chengdu Organic Chemicals Co. Ltd., CNano Technology,
Hyperion Catalysis International, Inc., Nanocyl S.A., Nano-C Inc., Nanocs Inc.,
NanoLab Inc., NanoIntegris Inc., Shenzhen Nanotech Port Co., Ltd., Thomas Swan
& Co. Ltd., OCSiAl and Zeon Nano Technology Co., Ltd., among others.
The
research report titled “Carbon Nanotubes: A Global Strategic
Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market
trends, issues, drivers, mergers, acquisitions and other strategic industry
activities of global companies. The
report provides market estimates and projections for all major geographic
markets such as the USA, Canada, Japan, Europe (France, Germany, Italy, UK and
Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), and Rest of
World. The report also provides market estimates and projections for major
product types such as SWCNT and MWCNT.
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enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
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