20 June 2019 San Francisco; Global carbon nanotubes market is expected to reach USD 3.42 billion by 2022, according to a new study by Grand View Research, Inc. Increasing application scope of carbon nanotubes (CNT) in end-use industries including polymers, electronics, energy, marine, aerospace and automotives is anticipated to drive market growth over the forecast period. Government of China, Japan, U.S. and India have increased funding aimed at promoting nanotechnology at domestic level which is expected to open new avenues for carbon nanotubes market over the next seven years.

Polymers were the largest application segment, accounting for over 60% of global carbon nanotubes market volume in 2014. CNT are increasingly being fortified in polymers such as composites and plastic derivatives for improving electrical, thermal and mechanical strength of the end product. Growing application of polymers in construction, automotive and consumer goods industry is anticipated to have a positive impact on CNT market over the forecast period.

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Further key findings from the study suggest:

• Global carbon nanotubes market demand was stood at 5,064.1 tons in 2014 and is anticipated to exceed 20,000 tons by 2022, growing at a CAGR of over 18% from 2015 to 2020.
• Multi walled carbon nanotubes (MWCNT) was the largest product segment, accounting for majority market volume in 2014. Lower price in comparison to other CNT products is expected to promote market growth.
• Asia Pacific was the largest CNT market, accounting for over 40% of global volume in 2014. Growing plastic and composite industries in China and India on account of increasing domestic demand coupled with low manufacturing cost as compared to North America and countries of EU is anticipated to augment CNT market. Positive electronics industry outlook in China, South Korea, Singapore, Taiwan and Japan is expected to significantly impact carbon nanotubes market over the next seven years.
• Global CNT market was dominated by four companies, Showa Denko, Nanocyl, CNano Technology and Future Carbon, accounting for the lions share in 2014. Product innovation through increased R&D expenditure is anticipated to remain a key critical success factor for carbon nanotubes market over the forecast period. High manufacturing cost is expected to remain a key challenge for CNT market players..

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www.grandviewresearch.com/industry-analysis/carbon-nanotubes-cnt-market

For the purpose of this study, Grand View Research has segmented the global carbon nanotubes market on the basis of application and region:

Global CNT Product Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2022)

• Single Walled Carbon Nanotubes (SWCNT)
• Multi Walled Carbon Nanotubes (MWCNT)

Global CNT Application Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2022)

• Polymers
• Energy
• Electrical & Electronics
• Others