Global Carbon Nanotubes Market is expected to exhibit a strong 20.36% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The Global Carbon Nanotubes Market was valued at USD 1.6 billion in 2018 and is expected to rise to a valuation of more than USD 6 billion by 2025. The report presents a detailed overview of the Global Carbon Nanotubes Market, including a detailed analysis of the market’s major drivers and restraints. The report also provides a detailed profile of the market’s leading players. The impact of the COVID-19 pandemic on the Global Carbon Nanotubes Market is also assessed in the report.
Carbon Nanotubes are layers of graphene rolled into a cylindrical shape. They are nanoparticles in the size range of 1-150 nm. Carbon nanotubes exhibit several beneficial properties, including high thermal conductivity, high electrical conductivity, high mechanical strength, high elastic modulus, high aspect ratio, and light weight. Carbon Nanotubes exhibit electrical conductivity comparable to copper and a considerably higher tensile strength than that of steel. The wide range of end uses of Carbon Nanotubes is the major driver for the Global Carbon Nanotubes Market.
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The growing use of Carbon Nanotubes in the aerospace and defense industry is a major driver for the Global Carbon Nanotubes Market. The growing demand for lightweight components in the aerospace industry has driven the demand for Carbon Nanotubes. Lightweight components help make aircraft more efficient in terms of fuel efficiency, leading to growing use of Carbon Nanotubes in the aerospace industry. Fuel efficiency has become a major buzzword in the aerospace industry in recent years, leading to a growing demand for Carbon Nanotubes in the construction of aircraft. The growing use of carbon nanotubes in the electrical and electronics industry is also a major driver for the Global Carbon Nanotubes Market. Carbon Nanotubes make electrical and electronic components better conductors of electricity as well as lightweight, as well as making them stronger than conventional building materials. The growing electrical and electronics industry is likely to remain a major driver for the Global Carbon Nanotubes Market over the forecast period.
Leading Players in the Global Carbon Nanotubes Market include LG Chem, Grafen Inc., Kumho Petrochemical, Nanoshel LLC, NanoLab Inc., Thomas Swan & Co. Ltd., Carbon Solutions Inc., Arkema SA, Nanocyl SA, Showa Denko KK, and Arry International Group Ltd. Players in the global carbon nanotubes market are pursuing strategies such as mergers and acquisitions, product innovation, and expansion to maintain their market dominance.
In January 2019, SABIC acquired Black Diamond Structures, a major nanotech company in the U.S.
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Global Carbon Nanotubes Market is segmented on the basis of Type, Method, End Use Industry, and Region.
By Type, Global Carbon Nanotubes Market is segmented into single-walled carbon nanotubes (SWCNTs) and multi-walled carbon nanotubes (MWCNTs). The multi-walled Carbon Nanotubes segment dominates the Global Carbon Nanotubes Market due to their lower cost in comparison to single-walled carbon nanotubes. The segment is expected to exhibit a robust 22% CAGR over the forecast period, thus maintaining its dominance in the market.
By Method, Global Carbon Nanotubes Market is segmented into chemical vapor deposition, high-pressure carbon monoxide disproportionation, arc discharge, laser ablation, and others. The chemical vapor deposition segment holds an overwhelmingly dominant share of over 97% in the Global Carbon Nanotubes Market. The high yield and low cost of chemical vapor deposition are the major drivers for the segment.
By End Use, Global Carbon Nanotubes Market is segmented into aerospace and defense, electrical and electronics, automotive, energy, sports, and others. The electrical and electronics segment holds the dominant share in the Global Carbon Nanotubes Market by volume, accounting for over 1,100 tons in 2018.
Asia Pacific is the largest regional market for Carbon Nanotubes, with the region accounting for 57.3% of the Global Carbon Nanotubes Market in 2018. The region, led by China, is also expected to exhibit the highest growth rate over the forecast period, mainly due to the growing industrialization in the region.
COVID-19 Study in Detail:
Impact of COVID-19 on Steel Extruded Products Market @ https://www.marketresearchfuture.com/report/covid-19-impact-steel-extruded-products-market
Corona virus Outbreak and Plastic Films Market @ https://www.marketresearchfuture.com/report/covid-19-impact-plastic-films-market
NOTE: Our teams of researchers are studying COVID-19 and its impact on various industry verticals and wherever required we will be considering COVID-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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