Global Carbon Nanotubes Market
Rolling graphene, a cutting-edge material that may be created for a variety of purposes, results in the production of Carbon Nanotubes (CNTs), one-dimensional allotropes of carbon. Since it was first discovered, there has been a lot of study interest in its special features. Due to their exceptional mechanical characteristics, including strength and flexibility, are used as structural polymer composites for automotive and aerospace components. In comparison to steel, CNT-reinforced fibers are stiffer and more durable. CNTs are the perfect material for conductive polymer composites because of their great electrical conductivity.
According to our latest research study, the recession is anticipated to significantly influence the Carbon Nanotubes business globally in the next years. According to the Center for Economics and Business Research, a global recession is anticipated to begin in 2023. (CEBR). Several economies experience a recession due to the higher borrowing rates put in place to combat inflation. Additionally, it is anticipated that in 2023, the global GDP will increase by less than 2%, with a 25% likelihood that the global economy will decrease. The number of workers quitting their positions has also increased along with hiring. Western businesses won’t offer comparable compensation and perks because the recession directly impacts them.
New applications for Carbon Nanotubes are expected to arise as a result of recent developments in nanotechnology, particularly in the production process and reinforcement with other materials. Research organizations and carbon nanotube producers are also aggressively investigating this market to find novel uses for Carbon Nanotubes. These factors will encourage market expansion over the expected period. The demand for lightweight, low-carbon automobiles has significantly impacted the market for Carbon Nanotubes. As a result, the market’s growth over the anticipated period would be aided by the swift growth of end-use industries like electrical, electronics, and automotive as well as increased product demand from application industries like plastics, electronics, and energy storage. The Carbon Nanotubes Market is also growing due to rising polymer manufacturing, expanding construction and automotive application areas, and other factors. The primary factor driving the market’s growth is the rising use of electronic and storage devices. Furthermore, it is projected that the market will grow due to the rising use of composite materials in the defense and automotive industries.
The Asia Pacific region dominates the Global Carbon Nanotubes Market. The elements bolstering the demand for carbon nanomaterials in the Chinese market are the accessibility of the raw material and the low cost of production. Polymer consumption is anticipated to increase, supporting industry growth in China, India, Malaysia, and Japan due to growing demand for the automotive, aerospace, electronics, and construction industries. On the other hand, the second-largest market for Global Carbon Nanotubes is in North America. Industry development in this region will be aided by significant financing for polymer and composites research and the manufacturing base of a few specific polymers, primarily in the United States, particularly PEI and PEEK. Regional growth will be aided by the rising demand for polymer manufacturing to enhance the bulk product’s mechanical, thermal, and electrical qualities.
Some of the key players in the Global Carbon Nanotubes Market include- Arkema SA (France), Cabot Corporation (US), CHASM Advanced Materials Inc. (US), CHEAP TUBES (US), Hyperion Catalysis International (US), Jiangsu Tiannai Technology Co. Ltd. (China), Klean Industries Inc. (Canada), Kumho Petrochemical (South Korea), LG Chem (South Korea), Nano-C (US), Nanocyl SA (Belgium), Nanostructured & Amorphous Materials Inc. (US), Nopo Nanotechnologies (India), OCSiAl (Luxembourg), Ossila Ltd. (UK) and others.