Single-walled Carbon Nanotube Market to Grow at a CAGR of 52.4% during the 2022 to 2031 Forecast Period: TMR Study
The global market for single-walled carbon nanotubes is poised for substantial growth in the coming years, driven by their increasing utilization in various industries, including electronics and semiconductors, aerospace and defense, and automotive.
Wilmington, Delaware, United States, Oct. 11, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global single-walled carbon nanotubes market stood at US$ 545 million in 2022, and the global market is projected to reach US$ 24.1 billion in 2031. The global market is anticipated to expand at a CAGR of 52.4% between 2022 and 2031.
The single-walled carbon nanotube industry is poised for significant growth in the coming years, driven by an expanding array of applications across diverse sectors. The versatile nanotubes find utility in many areas, including as additives in polymers, catalysts, electron field emitters for cathode ray lighting elements, flat panel displays, and gas discharge tubes within telecom networks. Their adaptability extends further to electromagnetic wave absorption and shielding, energy conversion, lithium-battery anodes, hydrogen storage, composite reinforcement, and supercapacitors.
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Manufacturers in the single-walled carbon nanotube market strategically focus on the electronics and energy sectors. These nanotubes play pivotal roles in applications such as transistors and integrated circuits, spintronics, photovoltaics, sensors, lithium-ion batteries, lead-acid batteries, and supercapacitors. The concerted effort to cater to the electronics and energy markets underscores the industry’s commitment to advancing cutting-edge technologies.
The adoption of both SWNT and MWNT across diverse end-use industries worldwide reflects their growing significance in driving innovation and addressing the evolving needs of various sectors. As the industry continues to innovate and expand its applications, the future of single-walled carbon nanotubes appears promising and transformative.
Key Takeaways of Market Report
- Global single-walled carbon nanotubes market to generate absolute dollar opportunity worth US$ 24.1 billion until 2031.
- Global single-walled carbon nanotubes market is valued at US$ 358.0 million in 2021.
- The global single-walled carbon nanotubes market management market value from 2018 to 2022 is 48.6%.
- Asia Pacific is forecasted to hold a market share of 55.4%.
- Europe is expected to have a value share of 16.3%.
Global Single-walled Carbon Nanotube Market: Growth Drivers
- Single-walled carbon nanotubes have emerged as a preferred choice for preparing highly efficient electromagnetic interference (EMI) shielding composites. In contrast to traditional metal-based EMI shielding materials, electrically conducting polymer composites containing these nanotubes have gained traction in recent years.
- These composites offer numerous advantages: lightweight, corrosion-resistant, flexible, and quickly processed. These composites effectively block electromagnetic radiation by incorporating single-walled carbon nanotubes as fillers within suitable polymer matrices, safeguarding electronic devices from potential damage.
- The global single-walled carbon nanotube market is experiencing growth propelled by the emergence of battery storage systems such as lead-acid, lithium-ion, sodium-ion, and flow batteries. Notably, single-walled carbon nanotubes are finding increasing applications in lithium-ion batteries. One critical issue associated with lithium-ion batteries is dendrite formation, which can lead to safety concerns.
- However, using single-walled carbon nanotubes as anode materials in lithium-ion batteries has proven effective in mitigating the risk of dendrite formation. This development underscores the pivotal role of these nanotubes in enhancing battery performance and safety, contributing to their growing relevance in the energy storage sector.
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Global Single-walled Carbon Nanotube Market: Regional Landscape
- Asia Pacific asserted its dominance in the global single-walled carbon nanotube market, commanding a 55.4% share. The regional market is poised to remain the most attractive during the forecast period, driven by the increasing demand for single-walled carbon nanotubes in the electronics and semiconductor industry.
- Technological advancements and the expanding automotive and aerospace sectors are expected to fuel market growth in Asia Pacific, underscoring the region’s pivotal role in the nanotube industry.
- Europe also plays a significant role in the global single-walled carbon nanotube market, accounting for 16.3% of the market share, respectively. These regions are anticipated to experience robust growth, with Europe projected to achieve a CAGR of 52.6% during the forecast period.
- This growth trajectory reflects the increasing importance of single-walled carbon nanotubes across multiple industries and the commitment to advancing technology and innovation in these regions.
Global Single-walled Carbon Nanotube Market: Key Players
- Researchers at Lawrence Livermore National Laboratory (LLNL) embarked on a groundbreaking venture to produce vertically aligned single-walled carbon nanotubes (SWCNT). This innovative manufacturing process can potentially revolutionize various commercial products across diverse industries.
- Nemo Nanomaterials, an Israeli start-up, has partnered strategically with Kafrit to introduce nanomaterials into multiple markets. Nemo Nanomaterials specializes in developing and manufacturing industrial additives, leveraging its proprietary patented single-walled carbon nanotubes (SWCNT) and other advanced carbon nanomaterials.
Global Single-walled Carbon Nanotube Market: Segmentation
- Chemical Vapor Deposition (CVD)
- Electric Arc
- High Pressure Carbon Monoxide (HiPCo)
- Others (Laser Ablation, Flame Synthesis, etc.)
- Electronics and Semiconductor
- Aerospace and Defense
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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