Global Market Insights, Inc. has launched a report on Carbon Nanotubes Market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.
Carbon Nanotubes Market will surpass USD 8.0 billion by 2024; according to a new research report. Carbon nanotubes (CNT) market has been driven by the product usage as polymer additives. Industry leaders will invest significantly for the development of CNT for polymer applications, to meet the surging demand for polymer-based products throughout the globe in coming years. For instance, ELASTOCYL HTV1001 by Nanocyl SA was essentially designed for extrusion and compression molding of HTV/HCR compounds. CNT market will observe robust potential in accordance to the trends of escalation in the electrical & electronics sector by 2024. For instance, Indian electronics industry demand thrived at 16%, i.e. from USD 65 billion to USD 136 billion during 2010-2015.
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Carbon nanotubes have different purity grades; highly purified carbon nanotubes cost slightly high. Also, the production procedure of carbon nanotubes involves massive operational cost owing to several stages of purification process along with other complex manufacturing procedures. The market growth will be hindered by cost intensive manufacturing process of carbon nanotubes during forecast period.
Product segmentation: The report claims that the Product landscape of the Carbon Nanotubes Market is subdivided into –
- Single-Walled Carbon Nanotubes
- Multi-Walled Carbon Nanotubes
Important pointers encompassed pertaining to the Product spectrum:
- Major details about the Product spectrum are provided in the report.
- The study elaborates on the remuneration forecast of each of the Product categories by the end of the anticipated duration.
- The market share which each of the Product segments account are mentioned in the study.
- Also, the most proliferating trends that the Product spectrum is characterized by are also entailed.
Multi-walled carbon nanotubes have witnessed exponential demand in recent years from different industrial verticals, especially in electrical & ecteronic application. Improved mechanical, electrical, thermal properties have driven the industrial growth during the forecast period. Further revolution in electrical and electronic industry in Asia Pacific region is one the instrumental factor driving the market. For instance, according to World Bank report of 2016, Indian electronic industry is expected to grow 24% per annum to reach a market of USD 400 billion by 2020.
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CNT applications in the polymer segment shall have CAGR exceeding 20% and over next 7 years. Germany plastic industry was about USD 107.54 billion in 2017, serves as one of the largest polymer markets in Europe. Further, according to PAGEV (a nongovernmental organization of Turkey, accounting over 88% of Turkey plastics value chain), world plastics production was USD 1.75 million tons in 1950 which had increased to USD 378.7 million tons in 2015. Polymeric nanotubes are used as an alternative to conventional-filled polymers thus polymer reinforcement help in strengthening the composite. Rise in usage of nanotube as filler in polymer-based products will exhibit higher growth for carbon nanotubes market.
Global carbon nanotubes market is led by leading manufacturers such as Nanothinx S.A., Klean Commodities, Raymor Industries Inc, Nanoshel LLC, Arkema SA, etc. In global carbon nanotubes market some of the key manufacturers have been involved in acquiring other prominent market players to discover better products for polymer application.
Regional segmentation: The report claims that the Regional landscape of the Carbon Nanotubes Market is subdivided into –
- North America
- Asia Pacific
- Latin America
Important pointers encompassed pertaining to the Regional spectrum:
- The report encompasses major details about the Regional
- The target valuation that each of the sub-segments of the Regional landscape will procure by the end of the anticipate period are mentioned in the report.
- The market share that these sub-segments held are also entailed in the study.
- The global trends that define the Regional landscape are discussed in the report.
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For instance, Future Carbon, a producer of carbon composites, had acquired Bayer Material Science’s carbon nanotubes segment in March 2014. The deal contributed significant synergies to Future Carbon with Bayer’s expertise in high-tech polymer composites. CNT market also saw several capacity expansions in the recent years. For instance, Kumho Petrochemical in December 2013, constructed new production facility in Asan, South Korea, which can produce up to 50 tons of CNTs per year. Further, other small-scales market players also play crucial role in regional markets and significantly contribute toward market revenue.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.