Growing demand for consumer electronics to boost the growth of Carbon Nanotubes Market

 

Carbon Nanotubes (CNT) Market

Carbon Nanotubes Market (By Product: Single-Walled Carbon Nanotubes, Multi-Walled Carbon Nanotubes; By Technology: Chemical Vapor Deposition, Laser Ablation of Graphite, Arc Discharge, Catalytic CVD, High Pressure Carbon Monoxide, Floating Catalyst, Others; By Application) - By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 – 2027

The global Carbon Nanotubes Market is estimated to be valued at US$ XX million in XXX and is expected to exhibit a CAGR of XX% over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Carbon Nanotubes can work as projections for radios and other EM devices. Conductive Carbon Nanotubes are utilized in brushes for saleable electric motors. They substitute earlier carbon black. The nanotubes enhance the electrical and heat conductivity as they expand on the plastic nature of the brushes.

Competitive Landscape:

Major players involved the carbon nanotubes market are Carbon Solutions,  CNano Technology Limited, Future Carbon GmbH Hanwha, Future Carbon GmbH Nanotech Corporation, Showa Denko and Continental Carbon Nanotechnologies Inc.

Market Key Drivers:

Growing demand for consumer electronics is expected to augment the growth of the global carbon nanotubes market. For instance, the growth of global consumer market was valued around US$ 42.61 billion in 2020.

The rise use of nanotubes or nanomaterials in aerospace industry is projected to boost the growth of global carbon nanotubes market. For instance, engineers of MIT innovated a system to make aerospace based composites with high pressure vessels.

Covid-19 Impact Analysis:

The Covid-19 outbreak had an adverse impact on the growth of carbon nanotubes market. The imposition of strict lockdowns, disruption in supply chain, delay in manufacturing goods and the halt in production units were some factors acting as a major challenge in the growth of the market. The restriction in movement and transportation of goods and people from place to place impeded the growth of the market.

Key Takeaways:

The global carbon nanotubes market is anticipated to exhibit a CAGR of XX % during the forecast period owing to frequent approvals and quick launches of products, and product innovations.  For instance, in the year 2021, IP Group Inc. and CoMotion introduced nanotechnology company Somalytics Inc. The company innovated Paper CNT capacitive detector that is penetrating to the body along with being malleable

Among regions, North America, Europe and Asia Pacific are expected to witness robust growth in the global carbon nanotubes market due to rising approvals and launches, the rise in growth of aerospace, electronics, construction and other industries and the growing demand of consumer electronics. For instance, India imported electronics valued approximately US$ 50 billion in 2021 and exported 5G smartphones worth US$ 4 million.