A13107 | Pages: 823 | Aug 2021 | 1651 Views | ||
Author(s) : Pratik Mandon, Ashwin Ponnappan , Eswara Prasad | Tables: 814 | Charts: 77 |
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Pandemic disrupted the entire world and affected many industries.
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Request Now !The global industrial carbon nanotubes market size was valued at $2.3 billion in 2020, and is projected to reach $10.3 billion by 2030, growing at a CAGR of 16.3% from 2021 to 2030.
The COVID-19 pandemic triggered a global industrial slowdown, thus drastically hampering the supply as well as the demand for industrial-grade CNTs.
Industrial carbon nanotubes are a sub-segment of carbon nanotubes, which are less pure when compared with other CNT products. On the basis of number of graphene sheets used, CNTs are classified into two types—single-walled CNTs (SWCNTs) and multi-walled CNTs (MWCNTs). MWCNTs also consist of double-walled CNTs. They are used as structural polymer composites for automotive and aerospace components due to their superior mechanical properties, such as strength and flexibility. CNT reinforced fibers are stiffer when compared with steel and resistant to external wear & tear. CNTs have high electrical conductivity, which makes them ideal for use in conductive polymer composites. They are used as conductive fillers in ESD materials, EMI shielding, and electronics packaging. Further, as they have high aspect ratio, lower addition of CNT is enough to obtain the desired electrical conductivity. CNTs are good electron field emitters for use in flat panel displays, touch screens, and various sensors. In addition, CNTs offer high charge carrying capacity and high surface area. They are the preferred material for use as electrodes in capacitors and batteries.
The global industrial carbon nanotubes market is presently driven by factors such as a consistent demand for lightweight structural composites and additives. Carbon nanotubes-based ESD materials are used in fuel pumps, fuel filter housings, connectors, reservoirs, line clips, and electronic housings. In the electronics industry, CNTs are used to produce electromagnetic interference (EMI) shielding composites and antistatic packaging materials. CNTs are slowly replacing other additives such as carbon black particles, carbon fibers, or metallic fibers. The demand for CNTs is on a significant rise in the aerospace & defense industry, owing to its superior properties and capability to facilitate designing of lightweight parts. Wind turbine blades (WTBs) can be enhanced using CNTs that are embedded in a polymer matrix. Rise in environmental concerns due to increase in use of petroleum products and coal as a major energy source have increased the adoption of renewable energy sources. Therefore, government organizations in various countries offer subsidies and funds to promote the usage of renewable energy sources such as wind, solar, and others.
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High costs of manufacturing lead to a restricted investment opportunity, thus hampering the setup of a new CNT manufacturing plant. Hence, only companies capable of investing huge capital are seen as potential new players. Moreover, scaled-up CVD process faces challenges such as slow growth, poor yield, inconsistent material quality, and lack of real-time process control. During the forecast period, advancements in nanotechnology in terms of manufacturing process and reinforcing with diverse materials are expected to lead the novel CNT applications. Carbon nanotube manufacturers and academic organizations are actively pursuing this sector to find new ways to incorporate nanoparticles. Such activities are anticipated to be opportunistic for industrial carbon nanotubes market growth. The carbon nanotubes market analysis is done by type, technology, application, and region
On the basis of type, the global industrial carbon nanotubes market is classified into single-walled carbon nanotubes (SWCNT) and multi-walled carbon nanotubes (MWCNT). On the basis of technology, the global industrial carbon nanotubes market is divided into arc discharge, laser ablation, CVD, catalytic CVD, high pressure carbon monoxide, CoMoCAT, floating catalyst, and others. On the basis of application, the market is segmented into electronics & semiconductor, energy storage, structural composites, chemical materials, medical & pharmacy, and others. The electronics & semiconductor is further sub-segmented into display, integrated circuits, transistors, industrial sensors, superconductors, and others. The energy storage segment consists of Li-ion battery, lead acid battery, fuel cells, solar PV cells, hydrogen storage, and electrochemical. Structural composites include aerospace, defense, sporting goods, wind turbine, automotive, construction, rubber & tires, and others. Chemical materials include coatings, adhesives and sealants, catalyst, water filtration, polymers, fire retardants, and others. Medical & pharmacy consists of transdermal drug delivery, cancer treatment, proteomics, and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, Middle East, Africa, and South America. Presently, Asia-Pacific accounts for the largest share of the market, followed by Europe and North America.
The major companies profiled in this report include Arkema SA, Cabot Corporation, CHASM Advanced Materials Inc., CHEAPTUBES, Hyperion Catalysis International, Jiangsu Tiannai Technology Co. Ltd., Klean Industries, Kumho Petrochemical, LG Chem, Nano-C, Nanocyl SA, Nanostructured & Amorphous Materials Inc., Nopo Nanotechnologies, OCSiAl, Ossila Ltd., Raymor Industries, Showa Denko K.K., Thomas Swan and Co. Ltd., Tokyo Chemical Industry Co. Ltd., and Toray Industries.
The Asia-Pacific industrial carbon nanotubes market size is projected to grow at the highest CAGR of nearly 17.5%, in terms of revenue during the forecast period. Presence of a vast manufacturing base in countries, such as China, Japan, Australia, and India, is expected to drive the demand for CNTs during the forecast period.
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The single-walled carbon nanotube segment is projected to grow at a high CAGR of 20.9%, owing to its comparatively superior electronic properties, thereby making it ideal for ESD materials.
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CVD method accounted for the largest market share, owing to commercial adoption of various CVD methods by key players. Other technology segment is projected to be the fastest growing segment, owing to proactive research and development in alternative techniques for synthesizing CNTs in larger quantities
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Structural composites segment accounted for the largest share in the global industrial carbon nanotubes market, owing to the adoption of CNTs in automotive and aerospace sectors for structural composites. The medical & pharmacy segment is projected to grow at the fastest CAGR of 18.86%, owing to the increasing use of CNTs in drug delivery and biosensing applications
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Key benefits for stakeholders
Impact Of Covid-19 On The Global Indsutrial Carbon Nanotubes Market
Key market segments
By Type
By Technology
By Application
By Region
Key players in the global industrial carbon nanotubes market are:
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There is an expected increase in the demand for industrial grade CNTs during the forecast period, which is projected to surge the production capacity to meet the growing demand. Applications such as plastics & polymers, paints, and epoxies will rely on less pure grades of CNTs for producing structural composite materials.
The present production capabilities are expected to create a major supply demand gap in the future, paving the way for high prices of CNTs. Moreover, R&D in nanotechnology in the long run will benefit the growth of the global industrial carbon nanotubes market via production boost ups and quality improvements. Commercial synthesis of carbon nanotubes to suit individual application is also estimated to increase the product demand.
The industrial carbon nanotubes market is segmented on the basis of type, technology, application, and region. The single walled carbon nanotubes segment is expected to grow at the fastest CGAR of 20.9%.
A. Demand for structural composites, CNT-based plastics, and ploymers are some of the factors boosting adoption of industrial carbon nanotubes
A. The global industrial carbon nanotubes market is projected to reach $10.3 billion by 2030, growing at a CAGR of 16.3% from 2021 to 2030.
A. Arkema SA, Cabot Corporation, CHASM Advanced Materials Inc., CHEAPTUBES, Hyperion Catalysis International, Jiangsu Tiannai Technology Co. Ltd., Klean Industries, Kumho Petrochemical, LG Chem, Nano-C, Nanocyl SA, Nanostructured & Amorphous Materials Inc., Nopo Nanotechnologies, OCSiAl, Ossila Ltd., Raymor Industries, Showa Denko K.K., Thomas Swan and Co. Ltd., Tokyo Chemical Industry Co. Ltd., and Toray Industries. are the main companies operating in the global industrial carbon nanotubes market
A. Electronics, automotive, aerospace, and medical industries are projected to increase the demand for industrial-grade carbon nanotubes during the forecast period
A. The global industrial carbon nanotubes market covers carbon nanotubes based on type, technology, application, and regjon
A. Factors such as improving economic viability by optimizing & developing production techniques, and finding new applications for carbon nanotubes will greatly influence the growth of carbon nanotubes
A. The electronics, structural composites, and medical segments is expected to drive the adoption of carbon nanotubes
A. Being a capital intensive technology, the COVID-19 has severely hit the demand for carbon nanotubes
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