A
new report published by Allied Market Research titled, "Carbon
Nanotubes (CNTs) Market by Type,
Application, and End User-Global Opportunity Analysis and
Industry Forecast, 2014 - 2022", projects that the
global carbon nanotubes market was $1,033 million in 2015 and is
expected to reach $3,812 million by 2022, registering a CAGR of 20.6%
from 2016 to 2022. Conductive polymer composites is expected to remain the
highest revenue-generating application segment throughout the forecast
period. Asia-Pacific held the leading position in the global market
in 2015, and is expected to maintain its lead throughout the study period.
According
to Eswara Prasad, Research Analyst, Chemicals & Materials at Allied
Market Research, "Increasing penetration of CNTs in key applications such
as conductive polymer composites and li -ion battery electrodes, growing
partnership between the suppliers & buyers of CNTs, and substantial
research & development spending are the factors that have resulted in significant
upsurge in demand for CNTs'’. "However, high cost of Single-Walled Carbon
Nanotubes (SWCNT) and growing demand for inorganic and boron nitride nanotubes
hamper the market growth", he further added.
Conductive
polymer composites stood as the largest application segment in 2015, accounting
for around half of the market share, followed by Li-ion battery electrodes,
structural polymer composites, and fire retardant plastics segments. CNTs
exhibit remarkable mechanical properties such as high tensile strength and
tensile modulus, which make them ideal for use in fabricating composite parts.
The
automotive and electricals & electronics segments jointly accounted for
more than 50% share of the overall market in 2015, and is expected to maintain
this trend throughout the forecast period. Increasing adoption of composites
parts in the automotive and electricals & electronics industries is the key
driving factor of the market.
Key
findings of the study:
·
Single-walled carbon nanotubes market revenue is expected to
witness the highest CAGR of 27% during the forecast period.
·
Conductive polymer composites was the largest application
segment for carbon nanotubes with around 50% market share in 2015.
·
Sporting goods is expected to be the fastest growing end user
segment with a CAGR of 22% (value terms) during the analysis period.
·
Asia-Pacific market revenue is likely to lead the market
throughout 2022, growing at a CAGR of 21.6% from 2016 to 2022.
·
China was the leading country in the world carbon nanotubes
market in 2015, and is expected to maintain its lead during the forecast
period.
North
America and Asia-Pacific collectively accounted for nearly
three-fourths of the worldwide demand for carbon nanotubes and are expected to
maintain their lead position throughout the forecast period. However, Asia-Pacific is
projected to be the fastest growing segment, with a CAGR of 21.6% (revenue
terms), followed by North America and Europe. Exception
mechanical and chemical properties of carbon nanotubes is driving its demand in
various applications across the globe. The North American conductive polymer
composites application market was valued at $89.7 million in 2014 and
is projected to reach $370.9 million by 2022.
In
the CNT industry, all the major players are investing significantly in research
and development sector to find new commercial applications and reduce price for
carbon nanotubes. The major companies profiled in the report include Arkema
Group, FutureCarbon GmbH, CNano Technology Limited, Nanocyl S.A., Hyperion
Catalysis International, Inc., OCSiAL, Klean Industries Inc., Mitsubishi Rayon
Co., Ltd., Unidym Inc., and Toray Industries Inc.
Contact:
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