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Carbon Nanotubes (CNTs) MarketCarbon Nanotubes (CNTs) Market is projected to be worth USD 18.85 billion by 2030, registering a CAGR of 20.59% during the forecast period (2021 - 2030)., The market was valued at USD 4.97 billion in 2020.
There has been an enhanced and wide-scale use of CNTs in various kinds of participating regions and fields that will help the market grow during the forecast period.The incremental nature of demand from the defense sector in diverse applications is estimated further to develop the carbon nanotubes market in the impending period. The enhancement of the production facilities is estimated to benefit the players in the carbon nanotubes market. Moreover, increased accessibility to resources is estimated to augment the carbon nanotubes market.
COVID 19 Analysis
The arrival of the novel coronavirus has a significant and economic impact on the carbon nanotubes market share functioning. The financial and industrial market sectors like travel, tourism, aviation, production, and manufacturing were the worst affected. The IMF and the World Bank were expecting the worst recession during the period of 2019-2020. The extending lockdowns, halt of the market functioning followed by the stoppage of economic activities are likely to decline the global market demand.
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The reimagined market structure is predicted to rely on a combination of robust online selling capabilities and a capable supply chain. The investment towards cutting-edge technology is anticipated to take a sharp surge with amplified funding accessibility. The formation of strong trade relations among several regions is forecasted to have a beneficial effect on growth. The focus on the client's needs is estimated to be more important than before as changes in living standards can have a notable bearing on the popularity of certain market trends. The measures being undertaken to ensure seamless functioning of the market is estimated to lay off in the long run.
The distinguished contenders in the carbon nanotubes market are
Showa Denko K.K. (Japan),
Grafen Inc (Turkey),
Arkema SA (France),
Nanocyl SA (Belgium),
KUMHO PETROCHEMICAL (South Korea),
Carbon Solutions, Inc (US),
Thomas Swan & Co. Ltd (UK),
Arry International Group Limited (China),
NanoLab Inc (US),
Nanoshel LLC (US), and
LG Chem (South Korea).
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Market Segmentation
The segmental overview of the carbon nanotubes market is carried out on the basis of type, method, end-use industry and region. The end-use industry segment of the carbon nanotubes (CNTs) market comprises of electrical & electronics, automotive, aerospace & defense, energy, and sports. The region segment of the carbon nanotubes market consists of Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. The type segment of the carbon nanotubes (CNTs) market comprises of multi-walled carbon nanotubes (MWCNTs) and single-walled carbon nanotubes (SWCNTs).
Drivers
The average market vehicles make use of 55 pounds of copper in an electrical wire and the same amount increases to three times when the discussion is about an electric car. The reducing amount of copper that is put in vehicles is likely to have the ability to significantly reduce the overall weight of the market vehicles followed by the reduced fuel consumption and carbon emissions that will drive the market towards global growth by the end of the period in 2030.
Restraints
The carbon nanotubes market revenue is likely to be impacted by the restraints that challenge the market from growing in the forecast period of 2021-2028. The release of nanoparticles and nano-biotechnological byproducts in the production of nanomaterials poses serious threats that have a relation with human health and safety.
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Regional Insights
The regional evaluation of the carbon nanotubes market comprises of Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. The Asia Pacific carbon nanotubes market developed the chief share of the market by comprising 55% volume shadowed by the North American region due to superior consumption of carbon nanotubes in the defense, aerospace, and electrical businesses. The North American regional market for carbon nanotubes is estimated to be led by the US, which is the highest supplier of the market in the region, such as China in the Asia Pacific regional market.
Recent Developments
Apr 2021 Mechnano, an Arizona-based, has come out of covertness to present a technology that allows carbon nanotubes (CNT) to be exploited in additive manufacturing materials. The company considers its technology as an 'unusual breakthrough' for additive manufacturing materials, considering it will considerably enhance features like impact strength and tear endurance. Mechnano has shaped a method to develop CNTs into a 'discrete form' that can be disseminated through additive manufacturing materials without re-clumping.
Apr 2021 LG Chem has commenced building the largest carbon nanotube (CNT) manufacturing factory in Korea. The company is enthusiastically targeting the rapidly increasing CNT market, widely expended as the material for cathodes in electric vehicle batteries.
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Table Of Contents:
1 Executive Summary
1.1 Market Attractiveness Analysis 20
1.1.1 Global Carbon Nanotubes (CNT) Market, By Type 20
1.1.2 Global Carbon Nanotubes (CNT) Market, By Method 21
1.1.3 Global Carbon Nanotubes (CNT) Market, By End-Use Industry 22
2 Market Introduction
2.1 Definition 23
2.2 Scope Of The Study 23
2.3 List Of Assumptions 24
2.4 Market Structure 24
3 Research Methodology
3.1 Research Process 25
3.2 Primary Research 26
3.3 Secondary Research 27
3.4 Market Size Estimation 27
3.5 Forecast Model 28
4 Market Insights
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