Carbon Nanotube Market to Reach $9.33 Billion by 2028 at 16.5% CAGR, Driven by Auto Industry Demand

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Carbon Nanotube Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $9.33 billion In 2028 At A CAGR Of 16.5%:

The carbon nanotube market size has grown rapidly in recent years. It will grow from $4.28 billion in 2023 to $5.06 billion in 2024 at a compound annual growth rate (CAGR) of 18.1%. The growth in the historic period can be attributed to growth in emerging markets, growing electronics manufacturing and increase in aerospace industry. factors that negatively affected growth in the historic period were the covid-19 pandemic and health hazards, environmental concern and safety issues in the production and technology.

The carbon nanotube market size is expected to see rapid growth in the next few years. It will grow to $9.33 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to increasing investments, increasing use of carbon nanotubes in various industries and growing demand for lightweight and low carbon emission vehicles. Major trends in the forecast period include investing in research & development (r&d) activities, using artificial intelligence to grow carbon nanotube and adopting strategic partnership & collaboration.

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Carbon Nanotube Market Major Segments
The carbon nanotube market covered in this report is segmented -
1) By Product: Single Walled Nanotubes, Multi Walled Nanotubes
2) By Method: Chemical Vapor Deposition (CVD), Arc Discharge, Laser Ablation, Floating Catalyst, Comocat, Catalytic Chemical Vapor Deposition (CCVD), High-Pressure Carbon Monoxide, Other Methods.
3) By End User: Electronics And Semiconductors, Energy And Storage, Chemical Material And Polymers, Medical And Pharmacy, Structural Composites Applications, Other End-Use Industries

Key Driver - Carbon Nanotube Market Driven By Demand For Lightweight And Low Carbon-Emitting Vehicles
Increasing demand for lightweight and low carbon-emitting vehicles is expected to drive the carbon nanotube market. In the automotive industry, carbon nanotubes are widely used as electrically conductive additives in automotive plastics for fuel systems, as a reinforcement material in vehicle production, and others. Companies operating in the automotive sectors are increasingly investing in innovative materials such as carbon nanotubes to develop lightweight and low-carbon-emitting vehicles. According to the study published by Loughborough University, to meet the current emission targets and adopt the latest innovative engine technologies, automotive companies are expected to reduce the current weight of cars by 25%. Therefore, the rise in demand for lightweight and low carbon-emitting vehicles is expected to boost the carbon nanotube market.

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Prominent Trend - Growing Financial Backing To Propel Carbon Nanotube Market Growth
Increasing investments in the carbon nanotube market will drive the growth of the market in the forecast period. Investments will help companies increase their production capacity and develop new technologies. For example, in August 2022, LG Chem, a South Korean chemical company, expanded its investment in carbon nanotubes (CNT) with the construction of a single-line CNT manufacturing plant. The new plant reportedly is part of LG Chem's initiative to gain a more competitive edge in the rapidly growing global CNT market focused on electric vehicle (EV) battery materials. The CNT conductive additive market is expected to grow by 30% to $2.3 billion, contributing to the demand for CNT increasing from 5,000 tons in 2021 to 70,000 tons by 2030. Also, in June 2022, Tiannai Technology, a Chinese technology company, announced that it plans to invest in the construction of the Tiannai science and technology project, with an annual output of 450 tons of single-wall carbon nanotubes and a total investment of about CNY1.2 billion ($168.57 million). The project is to be constructed in three phases, with each phase producing an annual output of 150 tons of single-wall carbon nanotubes, giving a total annual output of 450 tons of single-wall carbon nanotubes.

Carbon Nanotube Market Players
Major companies operating in the carbon nanotube market report are LG Chem Ltd, Kumho Petrochemical, Arkema S.A, Showa Denko K.K., Cabot Corporation, OCSiAl, Jiangsu Cnano Technology Co. Ltd., Hyperion Catalysis International, Nano-C, Nanocyl SA, Meijo Nano Carbon Co. Ltd, Zeon Corporation, Chengdu Organic Chemicals Co. Ltd, Shenzhen Sanshun Nano New Materials Co. Ltd, The Linde Group, Messer Group, Amcs Corporation, Mitsubishi Heavy Industrial Ltd, Air Liquide, Praxair Inc, Ngk Spark Plug Co Ltd, Taiyo Nippon Sanso, Oxair, Air Products And Chemicals Inc, Royal Dutch Shell, Aker Solutions, Equinor, Total Energies, Nano - C, Canatu, Nanomix, Nantero, Cheap Tubes, Exxonmobil Russia, Lukoil, Polish Energy Group, Zeroco2, Terrasigna, Continental Carbon Company, Klean Commodities, Raymor Industries Inc, Carbon Solutions Inc, Nanoshel Llc, Hanwha Chemical Corporation, Sabinano, Sasol, Carbacid Investments Limited, Afrox.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the carbon nanotube market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the carbon nanotube market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Carbon Nanotube Market Report Structure
3. Carbon Nanotube Market Trends And Strategies
4. Carbon Nanotube Market - Macro Economic Scenario
5. Carbon Nanotube Market Size And Growth
…..
27. Carbon Nanotube Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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