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Carbon Nanotubes (CNT) Market Revenue, Competitive Analysis With Growth Drivers by 2023

The global carbon nanotubes (CNT) market is growing at a significant rate, due to growing electronics industry, technological advancements, and high demand from current applications of CNT. Additionally, the growth of polymer industry, increasing importance of alternate sources of energy and superior properties of CNT is also supporting the growth of the global market.

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Image result for Carbon Nanotubes (CNT)The increasing application areas with decrease in CNT prices and emerging economies are some of the factors providing ample growth opportunities for the global carbon nanotubes market. Some of the factors restraining the growth of the market are environmental concerns and health risks regarding usage of CNT, and high price and processing difficulties.
The increasing application scope in automotive and construction industries is supporting the growth of polymer production in emerging economies, such as Middle East, Brazil, India and China. Silicon is used for coating CNT and it is further used in the manufacturing of lithium ion batteries. CNT is used in the batteries to increase the efficiency of battery with more than 10 times. The increasing application of lithium ion battery in renewable energy storage and grid is supporting the growth of the global CNT market.
Asia-Pacific led the market and is also expected to maintain its dominance during the forecast period. This dominance is due to growing polymer industry in China and India. Additionally, the increasing electronics manufacturing in Japan and China is also supporting the growth of the Asia-Pacific market.
North America also holds a significant share in the global market, due to robust production of engineered polymers, such as polyether ether ketone in the U.S. Additionally, the National Infrastructure Plan in Mexico is supporting the growth of electronics and energy sectors in the region, which is further supporting the growth of the carbon nanotubes market.
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Some of the competitors in the global carbon nanotubes market are Hanwha Chemical Corporation, Nanocyl SA, Carbon Solutions Inc., Nanothinx S.A., Hyperion Catalysis International Inc., Cnano Technology Limited, SouthWest NanoTechnologies Inc. and Thomas Swan & Co. Ltd.
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