Carbon Nanotubes (CNT) Market to Exhibit 15.3% CAGR till 2026; Production of Unique Aerospace Grade Composites to Boost Growth: Fortune Business Insights™

Carbon Nanotubes (CNT) Market to Exhibit 15.3% CAGR till 2026; Production of Unique Aerospace Grade Composites to Boost Growth: Fortune Business Insights™

PR Newswire

PUNE, India, May 5, 2020

Key companies covered are Arkema SA, Nanocyl SA, Nanoshell LLC, Carbon Solutions, Inc., Hyperion Catalysis International, SHOWA DENKO K.K., Klean Commodities, among others

PUNE, India, May 5, 2020 /PRNewswire/ -- The global carbon nanotubes (CNT) market is anticipated to gain traction from their rising utilization in brushes as they enhance electrical, as well as thermal conductivity in commercial electric motors. This information is given by Fortune Business Insights™ in a recent report, titled, "Carbon Nanotubes (CNT) Market Size, Share & Industry Analysis, By Product (Multi-Walled Carbon Nanotubes (MWCNT) and Single-Walled Carbon Nanotubes (SWCNT)), By Application (Plastics & Composites, Electrical & Electronics, Energy, and Others), and Regional Forecast, 2019-2026." The report further mentions that the CNT market size was USD 4.56 billion in 2018 and is projected to reach USD 13.65 billion by 2026, exhibiting a CAGR of 15.3% during the forecast period.

Carbon Nanotubes (CNT) Market Analysis, Insights and Forecast, 2015-2026

Browse Summary of This Research Report with Table of Content:

Worldwide COVID-19 Impact Analysis:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

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Drivers & Restraints:

Extensive Usage in Aerospace Industry to Augment Growth

In the aerospace industry, CNT is used the most as the aircraft manufacturers are focusing on developing stronger, long-lasting, and tougher components. They are doing so because of the high risk that is associated with flying. The industry is nowadays aiming to lower the weight of aircraft components for reducing the operational cost, as well as fuel consumption.

Nanomaterials are mostly used to revamp the properties of aircraft components for improving the overall performance. Apart from that, several professionals consisting of engineers and manufacturers are creating new methods for introducing aerospace-grade composites. However, CNT is toxic in nature. If inhaled, it can cause high blood pressure and kidney damage in humans. This is likely to obstruct the carbon nanotubes market growth in the coming years.


Rising Usage of CNT to Favor Growth of the Electrical & Electronics Segment

Based on application, the market is grouped into energy, electrical and electronics, plastics and composites, and others. Amongst these, the electrical and electronics segment held a 10.6% CNT market share in 2018. This growth is attributable to the increasing usage of CNT to make various electronic devices. It is especially used to make field-effect transistors and diodes. Also, CNT possesses many features, such as good conductivity and excellent optoelectronic characteristics. It would also contribute to the growth of this segment.

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Competitive Landscape:

Key Players Focus on Strategic Collaboration to Accelerate Sales

Reputed companies operating in the market are mainly focusing on joining hands with the other local companies and start-ups to create joint ventures and unique products. It is aiding them in broadening their geographic presence and in improving sales worldwide.

Fortune Business Insights™ lists out all the organizations present in the Carbon Nanotubes (CNT) Market. They are as follows:

Regional Analysis:

Rising R&D Activities on Polymers to Drive Growth in North America

Geographically, the market is grouped into Asia Pacific, North America, the Middle East and Africa, Latin America, and Europe. Out of these, North America generated USD 1,278.7 million in 2018 in terms of carbon nanotubes market revenue. This growth is attributable to the increased funding provided by many government and private agencies to conduct research and development activities on polymers and composites. Besides, the U.S. is considered to be a major manufacturing base of PEEK and PEI polymers. These are gaining more popularity as they are capable of remolding the electrical, thermal, and mechanical properties of numerous products.

Asia Pacific, on the other hand, consists of significant contributors, such as South Korea, China, Japan, and India. In China, the low cost of production process and availability of raw material in abundance are likely to boost growth in the coming years. Additionally, the country is one of the largest consumer electronic manufacturing hubs. Europe is set to showcase good growth owing to the rising imposition of various strict rules regarding the adoption of CNT by the European Commission.

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Below is a vital key industry development:

January 2019: Vivakor, Inc., a provider of clean technology solutions headquartered in the U.S., collaborated with CSS Nanotech, an innovative nanotechnology startup company. This joint venture would enable the former in creating a new carbon nanotube technology for modernizing heavy crude to a fuel product.

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