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Carbon Nanotubes Market Analysis
- Report ID: GMI744
- Published Date: Mar 2023
- Report Format: PDF
Carbon Nanotubes Market Analysis
Based on material, the carbon nanotubes market from multi-wall carbon nanotubes is slated to expand at nearly 19.8% CAGR through 2032. The surging adoption of multi-wall carbon nanotubes (MWCNTs) can be attributed to their excellent properties, that include high mechanical strength, electrical conductivity, and thermal conductivity that are five times higher than that of copper. These nanotubes feature multiple layers of carbon/graphite superimposed and folded into a cylindrical and tubular structure. These structures play a key role in the manufacturing of multiple products right from batteries, supercapacitors, and plastic products to construction materials. Thus, the growing demand for electronics, such as semiconductors and batteries will enhance the need for MWCNTs, adding positive impetus to the market expansion.
The carbon nanotubes market revenue from the catalytic CVD technology segment is estimated to reach USD 3 billion by 2032. The catalytic CVD method is gaining significant popularity in CNT production since it offers significant flexibility and compatibility with low temperatures and ambient pressures. Moreover, the rising advancements in novel floating catalyst chemical vapor deposition (FCCVD) methods are enabling the production of high-quality CNTs through simple processing, and adequate scalability. With the ongoing research and innovation in the field of man-made fibers, the development of CNT fibers using FCCVD will also experience a notable push.
The carbon nanotubes market will also witness notable proceeds from floating catalyst technology between 2023 and 2032 ascribing to its rising adoption in the manufacturing of single-, double, and multi-wall CNTs. This method offers optimum processing control and is undergoing extensive R&D and innovation, offering lucrative scope for the industry players. The ongoing developments in new techniques for combining catalytic CVD and floating catalyst will also spur the industry growth.
Carbon nanotubes market from the batteries application segment is likely to register around 20.7% CAGR between 2023 and 2032 due to the increasing usage in the battery performance. The CNT-based architecture featuring 1D nanocomposites is increasingly deployed in Lithium-Sulfur battery cells to enhance electrical conductivity, flexibility, and chemical permanence. With the surging demand for Li-ion batteries for EV production and the growing emphasis on advanced battery cells for energy generation, the adoption of CNTs for manufacturing batteries is expected to increase notably.
Asia Pacific carbon nanotubes market is anticipated to surpass USD 2 billion by 2032 driven by the growing electronics and construction sectors in countries such as India, South Korea, Taiwan, Japan, and China. For instance, the Government of India aims to reach USD 300 million worth of electronics production by 2026, whereas China is working toward strengthening the electronics sector and boosting innovation. The growing intervention to establish favorable regulatory structures for supporting groundbreaking developments to eliminate current barriers will also influence the regional industry growth.
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Carbon Nanotubes Market Scope
