The scope of our recent study on the “Carbon Nanotubes Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type and Application” includes the factors fueling the market growth, revenue estimation and forecast, market share analysis, and the identification of significant market players and their key developments.
The carbon nanotubes market size is expected to grow from US$ 5,658.00 million in 2022 to US$ 13,981.58 million by 2028; it is estimated to record a CAGR of 16.3% from 2022 to 2028.
Carbon nanotubes are large molecules of pure carbon. They are long and thin and shaped like tubes with a diameter of 1-3 nanometers. Few carbon nanotubes are efficient conductors of electricity and heat; depending on their configuration, some act as semiconductors. The global carbon nanotubes market is segmented on the basis type and application.
Based on type, the global carbon nanotubes market is bifurcated into multi-walled carbon nanotubes and single-walled carbon nanotubes. The multi-walled carbon nanotubes segment held a larger market share in 2022. Multi-walled carbon nanotubes are a special type of carbon nanotubes in which multiple single-walled carbon nanotubes are placed over one another to form multiple layers. They have a larger surface area than single-walled carbon nanotubes, which can be advantageous for certain applications. These nanotubes have properties such as high strength and stiffness, high electrical conductivity, and high thermal conductivity.
The global carbon nanotubes market is segmented into five main regions—North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. Asia Pacific held the largest global carbon nanotubes market share in 2022. The increasing use of carbon nanotubes in various application sectors such as electronics & semiconductors, energy storage, structural composites, aerospace & defense, and medical is fueling the carbon nanotubes market growth in Asia Pacific.
Impact of COVID-19 Pandemic on Carbon Nanotubes Market
Many economies were adversely affected due to the onset of the COVID-19 pandemic. The COVID-19 outbreak created a temporary distortion in the operational efficiencies of industrial bases. The pandemic has hampered the production and sales of carbon nanotubes. The adverse impact of the pandemic on growth of industries such as electronics & semiconductors, energy storage, composites, aerospace & defense, and medical has dropped the demand for carbon nanotubes. However, many industries began to revive with the resumption of operations from 2021. With this, the demand for carbon nanotubes is increasing.
Global Carbon Nanotubes Market Breakdown - by Region
The report includes the segmentation of the global carbon nanotubes market as follows:
The global carbon nanotubes market, based on type, is bifurcated into multi-walled carbon nanotubes and single-walled carbon nanotubes. The market, based on application, is segmented into electronics & semiconductors, energy storage, structural composites, aerospace & defense, medical, and others. By geography, the global carbon nanotubes market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America carbon nanotubes market is further segmented into the US, Canada, and Mexico. The market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific carbon nanotubes market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America carbon nanotubes market is further segmented into Brazil, Argentina, and the Rest of South & Central America.
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