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The global Carbon Nanotubes (CNTs) market size is expected to reach USD 3,042.2 Million at a CAGR of 14.9% during the forecast period.
NEW YORK CITY, NEW YORK, UNITED STATES, July 21, 2022 /EINPresswire.com / -- The global Carbon Nanotubes (CNTs) market size was USD 877.8 Million in 2021 and is expected to reach USD 3,042.2 Million in 2030 and register a revenue CAGR of 14.9% during the forecast period. The global carbon nanotubes market revenue growth is primarily driven by factors such as rising demand for CNT from electronics industry for production of photovoltaics, sensors, semiconductor devices, displays, conductors, smart textiles and energy conversion devices, among others. Revenue growth of the market is also driven by rising demand for production of Electric Vehicle (EV) batteries, medical devices, and use in biotechnology and biomedical applications, rapid technological advancements in nanotechnology and biotechnology, and rising investment in R&D activities by various private companies. CNTs are used for a variety of biotechnology and biomedical applications such as production of biosensors, drug delivery, neuron growth & regeneration, vascular stents, enzymes sheathe, and transfection of Deoxyribonucleic Acid (DNA).
CNTs have high absorption capacity and are useful for purifying gasoline, dye contaminated wastewater, organic compounds, and other contaminants. CNT nanomaterials are also used for separation, disinfection, and catalysis processes. Furthermore, CNTs are also efficient for air and water purification owing to high adsorption capacity. Carbon nanotubes can be functionalized and deployed for removal of harmful oxides of nitrogen, sulfur, ozone, and Volatile Organic Compounds (VOCs), among others, from various mediums. According to a report published by World Health Organization (WHO) on 21 March 2022, over 2 billion people across the globe live in water-stressed countries, which will exacerbate due to population growth and climate change. Drinking water source is contaminated with feces, arsenic, pesticides, and others, which poses a great risk to human lives.
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Top Key Players: Arkema, Carbon Solutions, Inc., Showa Denko KK, Nanocyl SA, Nanoshell LLC, Hyperion Catalysis International, Klean Industries Inc., Continental Carbon, CHASM Advanced Materials, and Nano-C, Inc, NoPo Nanotechnologies, and Nantero.com.
Key Drivers Analysis:
Rising demand for CNTs in manufacturing batteries and surface heating systems is expected to boost revenue growth of the market. CNTs are chemically-bonded carbon atoms that can greatly enhance energy storage and heat transfer in lithium-ion batteries. Batteries made with CNTs are widely used in Electric Vehicles (EVs) owing to their lightweight and greater conductivity. CNTs have been introduced as intermediate layers in Lithium Sulphur (Li–S) batteries owing to their superior flexibility, excellent electrical conductivity, and chemical stability. CNT-based barrier layers may be able to reduce lithium polysulfide shuttling. Moreover, nano heating and CNT technologies are used in manufacturing complex parts of EVs owing to lightweight and extended range capabilities. Researchers from the Osnabrück University of Applied Sciences, Germany, are developing a surface heating system for EVs using CNT technologies to increase their range for Osnatech GmbH. Moreover, CNT can enhance thermal stability, electrical conductivity, toughness, durability, weight reduction, and structural strength when added to other materials such as epoxy resin and is widely used by industrial manufacturers.
However, strict regulatory guidelines by the governments of various countries are imposed on CNT due to environmental impact, which is expected to hamper revenue growth of the market. CNT is composed of nanoscale particles that are non-biodegradable and once it contaminates the environment, it is difficult to remove. This when mixed with air and soil, is frequently washed into rivers and lakes, where it can cause health issues such as oxidative stress, inflammation, cell damage, and adverse effects on cell performance for both, animals and humans. Human kidneys can be severely damaged by nanoparticles, and blood sugar levels can rise as a result.
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Segments covered in the report:
Product Outlook (Revenue, USD Billion, 2021-2030)
Single-Walled Carbon Nanotubes (SWCNTs)
Multi-Walled Carbon Nanotubes (MWCNTs)
Application Outlook (Revenue, USD Billion, 2021-2030)
Electronics & Semiconductor
Aerospace and Defense
Energy Storage
Structural Composites
Chemical Materials
Medical & Pharmacy
Others
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Regional Outlook (Revenue, USD Billion, 2021-2030)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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