Carbon Nanotubes Market Size is Projected To Reach USD 5.8 Billion By 2027 - Valuates Reports
BANGALORE, India, Sept. 16, 2020 /PRNewswire/ -- According to the Latest market research report "Carbon Nanotubes Market by Type (Single-Walled Carbon Nanotubes (SWCNTs) and Multi-Walled Carbon Nanotubes (MWCNTs)), Application (Structural Polymer Composites, Conductive Polymer Composites, Conductive Adhesives, Fire Retardant Plastics, Metal Matrix Composites, Li-ion Battery Electrodes, and Others), and End User (Electricals & Electronics, Aerospace & Defense, Energy, Sporting Goods, Automotive, Industrial, and Others) - Global Forecast to 2027", published on Valuates Reports. The global carbon nanotubes market size was valued at USD 2.6 Billion in 2019 and is projected to reach USD 5.8 Billion by 2027, growing at a CAGR of 10.7% from 2020 to 2027.
CNTs have excellent properties such as high tensile strength, effective electrical conductivity, and high-temperature tolerance. These nanotubes are widely used for various industrial applications, including, among others, polymers, electronics, medicine, aerospace, defense, automotive, and oil. The major factors that are expected to increase the carbon nanotubes market size are due to CNTs
TRENDS INFLUENCING THE CARBON NANOTUBES (CNTS) MARKET SIZE
This increasing adoption of CNTs in the aerospace & defense industry is expected to increase the carbon nanotubes market size. Due to their superior properties and capability to promote the design of lightweight components, demand for Carbon Nanotubes is on a significant rise. CNTs are commonly used in composite materials used in aircraft exterior surfaces to minimize the risk of damage and penetration during lightning strikes.
Increasing R&D in carbon nanotubes applications to capture new technologies, including food products, glass ceramics, structural steel, farming, and hair color, is expected to increase the carbon nanotubes market size.
Carbon nanotubes have been employed in the wind energy field to build supercapacitors and strengthen turbine blades. Supercapacitors based on CNT are lightweight and have speedier response times than traditional heavy batteries. This adoption of CNT in the wind energy field is expected to drive the carbon nanotubes market size.
CARBON NANOTUBES (CNTS) MARKET SHARE ANALYSIS
North America is expected to hold the largest carbon nanotubes market share. This dominance is attributed to the high demand for polymer manufacturing to boost bulk products' thermal, electrical, and mechanical properties. Moreover, government-imposed regulations to encourage renewable energy are expected to assist industry growth over the projected time frame.
The Asia Pacific is expected to witness the highest growth rate during the forecast period. This region's growth is attributed to increasing electronics manufacturing in China, Singapore, Japan, and South Korea.
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KEY MARKET SEGMENTS
Key players in the global carbon nanotubes market are:
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? Single-Walled Carbon Nanotubes Market Report
In 2019, the global Single-Walled Carbon Nanotubes Market size was USD 61 Million, and it is expected to reach USD 215.6 Million by the end of 2026, with a CAGR of 19.6% during 2021-2026.
? Global Carbon Nanotubes as Transparent Conductors Market Report
In 2019, the global Carbon Nanotubes as Transparent Conductors market size was USD 59 Million, and it is expected to reach USD 145.6 Million by the end of 2026, with a CAGR of 13.7% during 2021-2026.
? Carbon Nanotubes and Nanomaterials Market Report
? Carbon Nanotubes for Electricity Generation Market Report
? Multi-Walled Carbon Nanotubes (MWNTs) Market Report
? Double-walled Carbon Nanotubes (DWNTs) Market Report
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