November 27, 2024
Boston: “According to the latest study from BCC Research “Global Markets and Technologies for Carbon Nanotubes,” demand for these products is projected to grow from $2.3 billion in 2024 to $5.9 billion by 2029, at a compound annual growth rate (CAGR) of 20.6% from 2024 through 2029.”
In this report, the global market for carbon nanotubes is analyzed, focusing on single-walled and multi-walled types. Technologies such as chemical vapor deposition and arc discharge as well as high-pressure carbon monoxide and laser ablation are examined, including their use in the transportation, energy storage, electronics, semiconductors, chemicals, materials, polymers, and medical applications industries. Regional analysis covers North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. With a base year of 2023 and forecasts through 2029, the market size estimates reflect revenues generated by companies using industrial-scale carbon nanotube technologies.
As renewable energy is increasingly integrated into global systems, carbon nanotubes offer significant advantages in energy storage and conversion, particularly by enhancing lithium-ion batteries with improved conductivity and structural integrity, ensuring greater resilience during charge/discharge cycles. In healthcare, the rising need for smart drug delivery, particularly in North America and Europe, positions carbon nanotubes as effective drug vectors that target specific body areas while minimizing interaction with healthy tissues. Additionally, carbon nanotubes are increasingly being used in the design and fabrication of smaller, high-performance consumer electronics, such as smartphones, transistors and wearable devices.
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The factors driving the global market for carbon nanotubes include:
Advances in the Medical Sector: Carbon nanotubes are enhancing drug delivery by targeting specific cells, improving treatment effectiveness, and reducing side effects. They are also integrated into biosensors for early disease detection and are used in cancer treatment to target and destroy cancer cells precisely, minimizing damage to healthy tissues.
Demand in Electronics and Semiconductors: Carbon nanotubes are increasingly being integrated into transistors, potentially surpassing silicon in speed and efficiency, and are used in sensors to enhance performance in advanced electronics.
Integration in Energy Storage and Conversion: Carbon nanotubes improve energy density and extend the life of lithium-ion batteries, enhance the efficiency of fuel cells, and increase the effectiveness of solar cells in converting sunlight to electricity.
Use in EVs: The EV industry uses carbon nanotubes to develop lightweight, strong materials for better energy efficiency. They also enhance EV battery performance, leading to longer ranges and quicker charging, and are used in conductive composites to improve vehicle safety and functionality.
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Report Synopsis
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Report Metric |
Details |
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Base year considered |
2023 |
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Forecast period considered |
2024-2029 |
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Base year market size |
$2.0 billion |
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Market size forecast |
$5.9 billion |
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Growth rate |
CAGR of 20.6% from 2024 to 2029 |
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Segments covered |
Type, Technology, End User, and Region |
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Regions covered |
North America, Europe, Asia-Pacific, South America, and the Middle East and Africa (MEA) |
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Countries covered |
U.S., Canada, Mexico, Brazil, Argentina, Chile, China, Japan, India, South Korea, Germany, U.K., France, Italy, Spain, Saudi Arabia, UAE and South Africa |
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Market drivers |
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Interesting facts about the global market for carbon nanotubes:
The report addresses the following questions:
1. What are the projections for the market?
2. Which factors are driving the growth of the market?
3. Which market segments are covered in the report?
The global market for carbon nanotubes is segmented by type, technology, end-user and region. Types, include single and multi-walled carbon nanotubes. Technologies include chemical vapor deposition, arc discharge, high-pressure carbon monoxide, laser ablation and others (electrolysis, ball milling, diffusion flame synthesis, etc.). End users include the transportation, energy and storage, electronics and semiconductors, chemicals, materials, polymers, medical, sports equipment, construction and textile sectors. Regions covered are North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
4. Which technology segment will dominate the market by the end of 2029?
The chemical vapor deposition segment, which is one of the most widely used and versatile methods for synthesizing Carbon nanotubes, will maintain its dominance through 2029. It relies on the thermal decomposition of a carbon-containing gas, which deposits carbon atoms on a catalyst surface. Recent advances in the catalyst design have significantly improved the quality, scalability, and control over the growth process for carbon nanotube synthesis.
5. Which region has the largest share of the global market?
Leading companies in the market include:
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Global Markets and Technologies for Carbon Nanotubes( NAN024G )
Publish Date: Aug 2024
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