Single-Walled Carbon Nanotube (SWCNT) Market Overview to 2023
Prices of SWCNT declined sharply since 2010 due to rise in its production, which is expected to decline during the forecast period to benefit major end use industries. This in turn is projected to drive growth of the global SWCNT market. The global aerospace & defense industry is growing at a higher CAGR on account of increasing demand of commercial and fighter jets around the world, which is anticipated to fuel the demand of SWCNT. In addition to this, the global electronics & electrical industry is estimated to reach a trillion figure during the forecast period, which may propel growth of the global SWCNT market. Technological advancements are being made in the global energy sector such as use of SWCNT to improve efficiency and reduce cost of batteries, solar cells and other fuel cells along with application in energy conservation. This is expected to drive the demand of SWCNT this era of increasing environmental concerns.
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Global Top 10 Key players:
The prominent players in the global SWCNT market are Nanocyl SA (Belgium), SHOWA DENKO K.K. (Japan), Arry International Group Limited (China), Hanwha Chemical Corporation (South Korea), Carbon Solutions, Inc. (U.S.), Thomas Swan & Co. Ltd. (U.K.), OCSiAI (Luxembourg), NanoLab, Inc. (U.S.), Nanoshel LLC (U.S.), KUMHO PETROCHEMICAL. (South Korea), and others.
Intended Audience:
- SWCNTs Manufacturers
- Traders and distributors of SWCNTs
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
Applications of SWCNT can be found in diverse industries including, aerospace & defense, electrical & electronics, energy, sports, and chemicals among the others. They are used as an additives to various structural materials to enhance properties of that material. Apart from this, SWCNTs are used as an additive in polymers, and as a catalyst in many commercial chemical reactions. In electrical & electronics industry the use of SWCNT can be seen in electromagnetic-wave absorption & shielding, energy conversion and lithium-battery anodes. Other industries in which SWCNTS find their applications include healthcare, wherein there is growing use of SWCNT for drug delivery at specific point in body.
SWCNT are very advantageous as their properties can be changed according to their need in a specific application. The band gap of SWCNT can vary from 0-2 eV which shows metallic or semiconducting behavior thus, enabling its maximum usage in growing electrical & electronics industry. However, the growth of SWCNT market might get hit by the cost of structure, complex manufacturing and processing methods. In addition to this, the methods such as arch discharge and laser ablation are harmful to the environment and hence it isnot viable to produce SWCNT on large scale.
Regional Analysis:
There are five key regions in which the global SWCNT market is divided into. It includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Among them, Asia Pacific is both the largest and fastest growing region in the global SWCNT market. This region accounts for ~40% share of the overall SWCNT market. India, Japan, and China are the leading market in this region owing to the presence of many key players and end use industries such as electrical & electronics and automotive. North America is the second largest region in the global SWCNT market. Countries namely Germany, U.K., France and Italy are the major markets in this region.
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This is attributed to the growing aerospace & defense industry along with green energy sector in this region. After North America, Europe is the significant region in terms market size, in the global SWCNT market. U.S is holding major share of the regional SWCNT market. The automotive industry and electrical and electronics in this region are consuming considerable amount of SWCNT, which is anticipated to push the regional market forward. Latin America is projected to grow at significantly higher CAGR in coming years, due to increasing industrialization and pacifying economic conditions in this region. Lastly, the Middle East & Africa is emerging, owing to increasing construction activities to cater flourishing tourism industry in the region to join hands with the leading regions in the global SWCNT market during the forecast period.
Segmentation:
The global SWCNT market has been segmented on the basis of method, end use industry, and region. Based on method, the market is divided into arc discharge, laser ablation, chemical vapor deposition, high pressure carbon monoxide. On the basis of end use industry, the global SWCNT market is segmented into aerospace & defense, electrical & electronics, automotive, energy, sports, and others. Geographically, the global SWCNT markets is divided into five key regions including Asia Pacific, North America, Europe, Latin America, and Middle East & Africa.
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