Carbon nanotubes find their applications requiring durability, thermal conductivity, electrical conductivity, and high strength. The growing demand for electronics and electrical products is expected to boost the industry growth. The swift commercialization and upscale of installed capacities with technological advancements to develop advanced products and improve overall product quality is anticipated to be a major trend that is likely to foster the growth of the industry in the coming years.
The global carbon nanotubes (CNT) industry size is anticipated to reach USD 10.52 billion by 2028 and exhibit a CAGR of 10.2% during the forecast period. Similarly, the expansion of the aerospace industry is anticipated to bolster industry growth. Fortune Business InsightsTM has presented this information in the report titled, “Carbon Nanotubes (CNT) Industry, 2021-2028”. The industry size stood at USD 4.94 billion in 2020.
Additionally, the disruptions in the supply chain networks and the ban on global trade have collectively aggravated the situation. Nonetheless, the major economies are rapidly recovering from the pandemic due to the introduction of efficacious vaccines. The industry is expected to witness rapid development post-pandemic.
Carbon nanotubes find their applications requiring durability, thermal conductivity, electrical conductivity, and high strength. They are mainly used in printed circuit boards and semiconductors. Electronics manufacturing is increasing in Singapore, South Korea, Japan, and China. This is likely to amplify the industry growth in the coming years.
- Highlights the key trends and the recent technological advancements in the industry.
- Assesses the impact of the COVID-19 pandemic.
- Envisages Porters’ Five Forces Analysis for an accurate industry prediction.
- Provides vital information on the industry’s competitive landscape and key player rankings.
- Provides information on recent industry developments.
Expansion of Aerospace Industry to Aid Industry Growth
The engineers at MIT produced an advanced microprocessor from CNT transistors in August 2019. It is a faster and greener alternative to its conventional silicon counterparts. The modern microprocessor is anticipated to possess ten times more efficiency and speed than silicon. This development is likely to augment the industry’s growth in the forthcoming years.
The aerospace industry uses nanomaterials for their exemplary properties. The aerospace industry is emphasizing weight reduction of aerospace components to reduce fuel consumption, and the expansion of the aerospace industry is likely to stimulate the global carbon nanotubes (CNT) industry growth.
Key Players in the Global Carbon Nanotubes Industry are:
Hyperion Catalysis International (Massachusetts, U.S.) , SHOWA DENKO K.K. (Tokyo, Japan), Klean Commodities (Vancouver, Canada), Cabot Corporation (Massachusetts, U.S.) , OCSiAl (Leudelange, Luxembourg), NoPo Nanotechnologies (Bangalore, India) , Jiangsu Cnano Technology Co., Ltd. (Zhenjiang, China)
Government Initiatives for Green Energy Adoption to Boost Growth in North America
Asia Pacific is projected to gain maximum industry share due to the low production costs and the wide availability of raw materials. The rising demand for aerospace, electronics, automotive, and construction industries across Japan, India, Malaysia, and China is anticipated to boost the growth of the industry.
North America is anticipated to attain striking growth rate in the global CNT industry share. The increasing investment of polymers and composites research and the rising demand for polymer production to improve the electrical, thermal, and mechanical properties of bulk products are expected to boost the growth of the region. Moreover, the government regulations to promote green energy adoption shall aid industry growth.
Europe is expected to witness substantial growth due to stringent regulations for carbon nanotubes’ production and usage.