Carbon Nanotubes Market size worth over $4.5 Bn by 2032

Carbon Nanotubes Market size is anticipated to exceed USD 4.5 billion by 2032, as per a recent research report announced by Global Market Insights Inc.
 

Rising construction activities worldwide are expected to positively influence the carbon nanotubes (CNT) industry dynamics. Rapid urbanization and infrastructure modernization have spurred construction projects across developed and developing countries. As per the National Investment Promotion & Facilitation Agency, more than 40% of the population in India will be living in urban communities by 2030. Furthermore, the construction sector of India is estimated to reach USD 1.4 trillion by 2025. Similar trends across the construction sector in economies such as the U.S., and China, will offer lucrative business prospects for the key players in the carbon nanotubes market.
 

Rising demand for single-wall carbon nanotubes for renewable energy benefits to foster industry development

Based on product, the market valuation from single-wall carbon nanotubes is estimated to surpass USD 1.5 billion by the end of 2032. Single-wall carbon nanotubes are composed of a nanoscale structure that ensures high thermal, optical, mechanical, and electrical properties, and hence find multiple application scope. These carbon nanotubes (CNTs) are widely used in making composites, coatings, displays, and solar cells. The increasing focus on power generation using renewable energy sources is accelerating the adoption of solar technologies worldwide, thus proliferating the market demand.
 

Browse key industry insights spread across 353 pages with 464 market data tables & 25 figures & charts from the report, “Carbon Nanotubes Market - By Product (Single Wall, Multi Wall), By Technology (Chemical Vapor Deposition, Catalytic CVD, Arc Discharge), By Application (Batteries, Automotive, A&D, Medical, Chemical & Polymers, Energy), By Region - Global Forecast to 2032”, in detail along with the table of contents
https://www.gminsights.com/industry-analysis/carbon-nanotubes-market
 

Widespread application of high-pressure carbon monoxide methods to drive market growth

The high-pressure carbon monoxide technology segment is projected to exhibit over 20.7% CAGR between 2023 and 2032. The high-pressure carbon monoxide (HiPCO) method is used to make single-wall carbon nanotubes via reactions of gas-phased iron carbonyl in carbon monoxide at high pressure. The ongoing innovation and developments in yarns used for ultra-strong fabrics, advanced drug delivery systems, conductive wires for nanoelectronics, and display technologies will accelerate the adoption of HiPCO technology, adding to the industry growth.
 

Rising military and defense spending to drive product application potential in aircraft manufacturing

Carbon nanotubes market from aerospace & defense applications is predicted to witness over 19.5% growth rate between 2023-2032. CNTs are extensively used in military vehicles and aircraft as they induce strength, cut weight, and make them electromagnetically undetectable. Advancements in aircraft and aircraft components, such as lighter engines are fuelling the demand nanotubes and novel nanofibers. Additionally, carbon nanotubes are used in sensors, power systems, microbots, and ultra-wideband connections. The increasing focus on strengthening the defense and military capabilities has made way for the increasing adoption of CNT fibers in the manufacturing of bulletproof clothing, high-strength ropes, and reinforcement supplies.
 

Increasing solar energy production to propel carbon nanotubes demand in North America

North America carbon nanotubes market size is poised to reach USD 1 billion by 2032 owing to the paradigm shift towards clean energy resources across countries such as the U.S., and Canada. The U.S. is experiencing rapid penetration of renewables, such as solar and wind energy, representing significant demand for CNTs. Moreover, the increasing number of R&D activities, new patent licensing agreements, and the growing demand for electronics will spur the industry growth.
 

Strategic expansion initiatives to boost carbon nanotubes industry growth

Some of the leading players in the carbon nanotubes market include LG Chem, TimesNano, Showa Denco, Cabot Corporation (SUSN), HXNANO, C-nano Technology, and Nanocyl Arkema These firms are focusing on the expansion of their production capacitie