The carbon nanotubes industry size is anticipated to surpass UD$ 970.9 million in 2023 and is predicted to attain a valuation of USD 2,428.1 million by 2033. The industry share is projected to thrive at a CAGR of 9.6% from 2023 to 2033.
Carbon nanotubes possess exceptional qualities including remarkable strength, electrical and thermal conductivity, as well as flexibility, making them highly sought after across diverse sectors such as electronics, aviation, energy, and healthcare. These unique attributes render them indispensable for various applications within these industries. For instance, in electronics, they are utilized for crafting high-performance transistors, conductive films, and flexible displays, while in aerospace, they contribute to enhancing the strength and reducing the weight of airplane components.
The burgeoning demand for carbon nanotubes is further fueled by ongoing research and development efforts, with private equity firms, large corporations, and venture capitalists investing significantly in this sector. This influx of capital has provided companies with the resources necessary to ramp up production, innovate product offerings, and explore new applications.
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Collaborations between academia, research institutions, and businesses have facilitated the exchange of knowledge, technology transfer, and the emergence of groundbreaking solutions, thereby catalyzing the expansion of the market. Such partnerships have played a pivotal role in driving advancements in carbon nanotube technology and fostering its widespread adoption across various industries.
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 more 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.
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
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Key Segments
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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