The multi-walled carbon nanotubes market size is expected to grow from US$ 5,252.36 million in 2021 to US$ 10,748.27 million by 2028. It is estimated to rise at a CAGR of 10.8% from 2021 to 2028.
Multi-walled carbon nanotubes (MWCNTs) are a special form of carbon nanotubes, in which multiple single-walled carbon nanotubes are present inside one another. The beneficial properties of MWCNTs have led to high demand for the product in the market.
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Multi-walled Carbon Nanotubes Market: Strategic Insights
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Multi-walled Carbon Nanotubes Market: Strategic Insights
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In 2020, North America dominated the global multi-walled carbon nanotubes market and is expected to retain its dominance during the forecast period. These nanotubes are extensively used in electronics, driving the market in North America. According to the US International Trade Commission, the total exports of electronic products grew by US$ 7.9 billion (3%) to US$ 268 billion in 2017 in the US. Electronic products widely use multi-walled carbon nanotubes for manufacturing chips, batteries, transistors, and more. It is anticipated that the increased demand for electronic products is projected to further drive the market in the years to come. The presence of leading market players in the region is aiding the regional market's growth. For instance, in August 2020, ChemSpec North America announced that it signed a non-exclusive distribution deal with Nanocyl SA of Belgium to promote and distribute Nanocyl's multi-walled carbon nanotube (MWCNT) products.
Market Insights
Expanding Applications of Multi-walled carbon nanotubes
The increased application of multi-walled carbon nanotubes in the aerospace and automotive industry is driving the market growth. Heat dissipation in electronic devices requires interface materials with high thermal conductivity. Therefore carbon-based nanomaterials, such as multi-walled carbon nanotubes, are being designed and are increasingly used to boost the thermal, electrical, and mechanical properties. Multi-walled carbon nanotubes are being extensively used in electronic industries as sensor materials for pressure due to their several characteristics, such as electrical and thermal conductivity, magnetic properties, and mechanical strength.
Application Insights
Based on application, the multi-walled carbon nanotubes market is segmented into electrically conductive polymers, structural composites, concrete additives, batteries, research & development, and others. The batteries segment dominated the market share in 2020. It is expected to be the fastest-growing segment in the market during the forecast period. The electrically conductive polymers segment is the second-largest segment in the multi-walled carbon nanotubes market.
Arkema; Showa Denko KK; Hyperion Catalysis International; Klean Industries; Kumho Petrochemical; LG Chem; Nanocyl SA; Ossila Ltd; Raymor Industries Inc; Tokyo Chemical Industry Co. Ltd.; Ocsial; Eden Innovations Ltd.; and Beyond Pacific Holdings, LLC are the key players operating in the multi-walled carbon nanotubes market. Leading players adopt several strategies, such as mergers & acquisitions and product launches, to expand their geographic presence and consumer base.
Multi-Walled Carbon Nanotubes Market Report ScopeMulti-walled Carbon Nanotubes Market Regional Insights
Multi-walled Carbon Nanotubes Market Regional Insights
The regional trends and factors influencing the Multi-walled Carbon Nanotubes Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Multi-walled Carbon Nanotubes Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
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Multi-walled Carbon Nanotubes Market Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 5.25 Billion |
| Market Size by 2028 | US$ 10.75 Billion |
| Global CAGR (2021 - 2028) | 10.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Application
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Market Players Density: Understanding Its Impact on Business Dynamics
The Multi-walled Carbon Nanotubes Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Multi-walled Carbon Nanotubes Market are:
- Eden Innovations Ltd.
- Arkema
- SHOWA DENKO K.K.
- Hyperion Catalysis International Inc.
- Klean Industries Inc.
Disclaimer: The companies listed above are not ranked in any particular order.
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Report Spotlights
- Progressive trends in the multi-walled carbon nanotubes industry to help players develop effective long-term strategies
- Business growth strategies adopted by companies to secure growth in developed and developing markets
- Quantitative analysis of the multi-walled carbon nanotubes market from 2019 to 2028
- Porters' analysis to illustrate the efficacy of buyers and suppliers operating in the multi-walled carbon nanotubes industry
- Recent developments to understand the competitive market scenario and the demand for multi-walled carbon nanotubes
- Market trends and outlook coupled with factors governing the growth of the multi-walled carbon nanotubes market
- Understanding regarding the strategies that underpin commercial interest about the market growth, aiding in the decision-making process
- Multi-walled carbon nanotubes market size at various nodes of market
- Detailed overview and segmentation of the multi-walled carbon nanotubes market as well as its industry dynamics
- Multi-walled carbon nanotubes market size in various regions with promising growth opportunities
The "Global Multi-walled Carbon Nanotubes Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry, focusing on market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The multi-walled carbon nanotubes market is analyzed on the basis of application and geography. Based on application, the market is electrically conductive polymers, structural composites, concrete additives, batteries, research & development, and others. Based on geography, the market is segmented into five main regions North America, Europe, Asia Pacific (APAC), South & Central America (SCAM), and the Middle East & Africa (MEA). North America is expected to be the fastest-growing segment in the multi-walled carbon nanotubes market, followed by Asia Pacific.
The growing presence of global manufacturers and the growing end-use industries, such as automotive and aerospace, are driving the demand for multi-walled carbon nanotubes in North America. The United States has one of the largest automotive markets in the world. In 2018, U.S. light-vehicle sales reached 17.2 million units, the fourth straight year in which sales reached or surpassed 17 million units. The increased production of automobiles in the US is driving the demand for multi-walled carbon nanotubes.
Company Profiles
- Arkema
- Showa Denko KK
- Hyperion Catalysis International
- Klean Industries
- Kumho Petrochemical
- LG Chem
- Nanocyl SA
- Ossila Ltd
- Raymor Industries Inc
- Tokyo Chemical Industry Co. Ltd.
- Ocsial
- Eden Innovations Ltd.
- Beyond Pacific Holdings, LLC
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The major players operating in the global MWCNTs market are Arkema; Showa Denko KK; Hyperion Catalysis International; Klean Industries; Kumho Petrochemical; LG Chem; Nanocyl SA; Ossila Ltd; Raymor Industries Inc; Tokyo Chemical Industry Co. Ltd.; Ocsial; Eden Innovations Ltd.; and Beyond Pacific Holdings, LLC. among many others.
Multi-walled carbon nanotubes are widely used in medicine and pharmaceutical industry for sensitive detection of essential biological components, precise and safer imaging of unhealthy tissues, and innovative treatments because of their mechanical, optical, electrical, and chemical properties. MWCNTs have outstanding electrical and mechanical properties, making them suitable for electronic applications. Thus, the growing demand for MWCNT from the healthcare and electronics sector is projected to offer lucrative opportunities for multiwalled carbon nanotubes in global market.
Silicon anodes for Li-ion batteries can be reinforced with MWCNTs to reduce their resistance, making them resilient to cracking and its effects during hundreds and thousands of charge/discharge cycles.
Multi-walled carbon nanotubes have been used and studied extensively as polymer additives to increase mechanical characteristics and features, fire retardancy, electromagnetic shielding, and thermal conductivity. Polymer composite producers buy the bulk of commercially generated MWCNTs, which are utilized in end-user products, including golf clubs, boat hulls, and structural plastics.
Multiwalled carbon nanotubes have high electrical conductivity and are used in conductive nano inks, battery cathodes, enhanced structural composites, thermal interface materials, and other applications. Thus, the expanding applications of MWCNTs boost the market growth. Moreover, li-ion batteries help reduce recharging time, boost tensile strength, and reduce vehicle weight. These benefits increase the applications of MWCNTs in the automobile industry, thereby driving market growth.
North America accounted for the largest share of the global MWCNTs market due to a wide range of commercialized applications for CNT, coupled with rising R&D activities to find new applications. The presence of leading companies in the region is aiding the market in North America.
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The List of Companies - Multi-walled Carbon Nanotubes Market
- Eden Innovations Ltd.
- Arkema
- SHOWA DENKO K.K.
- Hyperion Catalysis International Inc.
- Klean Industries Inc.
- Kumho Petrochemical Co., Ltd.
- LG Chem
- Nanocyl SA
- Ossila Ltd.
- Raymor Industries Inc.
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