According to the latest market research study by Technavio, the global CNT market is expected to grow at a CAGR of close to 22% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global CNT market regarding revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the application
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The top three revenue contributing application segments are discussed below:
Chemicals, plastics, and composites: In 2016, the chemicals, plastics, and composites segment occupied the maximum share in the global carbon nanotubes market and will continue to dominate during the forecast period. Some major applications of CNTs in this segment includes bicycle components, wind turbines, solar panels and many more. Most of these applications have a large customer base, leading to the highest market share of the segment.
“In 2016, the National Renewable Energy Laboratory came with evidence for the feasibility of carbon-based solar cells. This finding is significant because carbon is abundant and a cheap source of raw material that could be used for manufacturing solar cells while maintaining a high degree of efficiency at low cost,” says Sunil Kumar Singh, a lead analyst at Technavio for research on embedded systems.
Electronics and semiconductors: The electronics and semiconductors are the fastest-growing segments of the global CNT market. CNTs possess electrical and mechanical properties that make them useful in the development of semiconductor components, transistors, hard-disk drive components, electrostatic packaging, integrated circuits (ICs), and IC test and burn sockets. These components are necessary for electronic devices. Thus, the rise in electronic devices such as smartphones and tablets will lead to the growth in the CNT market. Moreover, increasing adoption of Internet of Things (IoT) devices, which require these components, will further drive the adoption of CNTs.
Energy, battery, and capacitors: The major growth factor for the global CNT market is the utilization of CNTs for the manufacture of lithium-ion batteries and supercapacitors. Due to favorable electrochemical performance, high thermal and electrical conductivity, tensile strength and flexibility, CNTs are replacing traditional materials to produce energy storage devices, batteries, and capacitors.
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The top vendors operating in the global CNT market are:
- Cnano Technology
- Nanocyl
- Showa Denko
The other prominent vendors in the market include Arkema, BuckyUSA, Carbon Solutions, Catalytic Materials, Chengdu Organic Chemicals, Hanwha Chemical, Hyperion Catalysis International, Materials and Electrochemical Research, NANOCS, Nano-C, NanoIntegris, NanoLab, NanoTechLabs, Nanothinx, OCSiAl, Plasma X, Rosseter Holdings, Nanos Research, Shenzhen Nanotech Port, Sisco Research Labs, SouthWest NanoTechnologies, SUN NANOTEK, and XinNano Material.
A more detailed analysis is available in the Technavio market research report titled, ‘Global CNT Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Carbon Nanotube Market 2016-2020
- Global Carbon Fiber Market 2016-2020
- Global Advanced Composites Market 2016-2020
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