Global Market Insights provides a detailed overview of Carbon Nanotubes market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Carbon Nanotubes market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.
Carbon Nanotubes Market will observe robust potential in accordance to the trends of escalation in the electrical & electronics sector by 2024. For instance, Indian electronics industry demand thrived at 16%, i.e. from USD 65 billion to USD 136 billion during 2010-2015.
Carbon nanotubes have different purity grades; highly purified carbon nanotubes cost slightly high. Also, the production procedure of carbon nanotubes involves massive operational cost owing to several stages of purification process along with other complex manufacturing procedures. The market growth will be hindered by cost intensive manufacturing process of carbon nanotubes during forecast period.
Carbon nanotubes (CNT) market has been driven by the product usage as polymer additives. Industry leaders will invest significantly for the development of CNT for polymer applications, to meet the surging demand for polymer-based products throughout the globe in coming years.
In global carbon nanotubes market some of the key manufacturers have been involved in acquiring other prominent market players to discover better products for polymer application. For instance, Future Carbon, a producer of carbon composites, had acquired Bayer Material Science's carbon nanotubes segment in March 2014. The deal contributed significant synergies to Future Carbon with Bayer's expertise in high-tech polymer composites. CNT market also saw several capacity expansions in the recent years. For instance, Kumho Petrochemical in December 2013, constructed new production facility in Asan, South Korea, which can produce up to 50 tons of CNTs per year. Further, other small-scales market players also play crucial role in regional markets and significantly contribute toward market revenue.
CNT applications in the polymer segment shall have CAGR exceeding 20% and over next 7 years. Germany plastic industry was about USD 107.54 billion in 2017, serves as one of the largest polymer markets in Europe. Further, according to PAGEV (a nongovernmental organization of Turkey, accounting over 88% of Turkey plastics value chain), world plastics production was USD 1.75 million tons in 1950 which had increased to USD 378.7 million tons in 2015. Polymeric nanotubes are used as an alternative to conventional-filled polymers thus polymer reinforcement help in strengthening the composite. Rise in usage of nanotube as filler in polymer-based products will exhibit higher growth for carbon nanotubes market.