Carbon Nanotubes Market Size By Product (Single-Wall Carbon Nanotubes, Multi-Wall Carbon Nanotubes), By Application (Polymers, Energy, Electrical & Electronics, Others), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competiti

Carbon Nanotubes Market Size By Product (Single-Wall Carbon Nanotubes, Multi-Wall Carbon Nanotubes), By Application (Polymers, Energy, Electrical & Electronics, Others), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2022 - 2030

The global carbon nanotubes market is estimated to garner substantial growth by 2030. The rising demand for advanced nanomaterials across a plethora of industries due to their superior electrical and thermal conductivity will drive industry expansion in the ensuing years.

The growing trend of the adoption of next-generation technologies, which are powerful, energy-efficient, highly endurable, and secure will further positively impact business growth. For example, carbon nanotubes can easily be incorporated into the thinnest of wearable devices and sensors as they are several thousand times smaller than human hair.

Some chemical companies are actively investing in the research and development of nanotechnology to open new avenues for the adoption of CNTs. For instance, SkyNano, a chemical startup company, has developed a new method to convert carbon dioxide to solid CNTs through a highly sustainable and environmentally friendly electromechanical process. The only byproduct generated in this method is oxygen contrary to extremely harmful carbon monoxide, volatile organic compounds, AND PAHs (polycyclic aromatic hydrocarbons) produced in the traditional thermochemical process.

In the coming years, the carbon nanotubes market share is anticipated to witness considerable gains as these chemically neutral and highly stable nanomaterials can be deployed on a global scale to convert massive streams of carbon dioxide emitted from steel and cement factories.

Based on the product spectrum, the single-wall carbon nanotubes segment is poised to account for a sizeable valuation by 2030, witnessing a considerable growth rate during the study period. The versatile properties of single-wall carbon nanotubes have boosted their deployment in the aerospace and automotive industries as a substitute for copper. At the nanoscale, carbon nanotubes exhibit five times the electric conductivity of copper, one thousand times the current carrying capacity, and 15 times the thermal conductivity.

In terms of application, the carbon nanotubes market is divided into polymers, electrical & electronics, energy, and others. The polymers segment is projected to record a substantial growth rate through 2030 due to the rapid expansion of the construction sector and the surging adoption of smart and technically advanced gadgets. Polymers are widely used in the construction and electronics industry because of their extraordinary structure, compressive strength, and high flexibility.

Regionally, Europe carbon nanotubes market size is slated to expand considerably over the forecast duration, thereby amassing a valuation of more than USD 3.5 billion by 2030. Growing consumption of high-end consumer goods and surging investment in next-gen technologies by electronics manufacturers are anticipated to bolster revenue inflows in the European market. Researchers in Europe are working to find the applicability and viability of carbon nanotubes in smartphones and other high-demand electronic devices. Carbon nanotubes can be seen as a potential replacement for silicon transistors in smart devices in the future due to their excellent electrical conductivity.

Besides this, the flourishing automobile industry of Europe and the rising inclusion of cutting-edge technology in vehicles will drive the growth momentum of the carbon nanotubes industry in the region.