Carbon nanotubes are extremely small carbon allotropes. They possess sizes to the scale of nanometers. The electrical, physical and thermal features of carbon nanotubes make them useful across a wide range of applications. Carbon nanotubes also possess high tensile strength and outstanding electrical conductivity. They are also capable of bearing high working temperatures.
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The various aforementioned benefits of carbon nanotubes work in support of the carbon nanotubes market and propel it further. Inspite of these benefits, they face difficulties in the form of high production costs and integration problems. The carbon nanotubes market is fragmented on account of structures, geographies and applications.
The structures market is divided into double-wall nanotubes, single-wall nanotubes, and multi-wall nanotubes. The market, in view of geographies, is segmented on the basis of North America, Europe, rest of the world and Asia Pacific. The applications carbon nanotubes market is sub-divided into polymers and chemicals, semiconductors and electronics, capacitors and batteries, transportation, energy, healthcare applications, aerospace, composites, defense and others.
Rising demand for carbon nanotubes in present and developing applications, along with developments in technologies is expected to drive increased demand for nanotubes. Apart from the above mentioned difficulties faced by carbon nanotubes, they also pose health and ecological dangers. Both these factors are also responsible for obstructing the carbon nanotubes market.
The carbon nanotubes market also faces huge prospects for further growth across new applications and developing regions. The infiltration of carbon nanotubes across various consumer markets owes to their attractive characteristics. Carbon nanotubes are used for various purposes in medicine and healthcare. They execute a major role in medical instruments, body implants and dental-filling substances.
The other important applications of these nanotubes include the evaluation of oral cancer, function in water refinement plants and cleaning of oil spills. Their versatile nature augurs well for the carbon nanotubes market and steers it ahead.
The structures market was leaded by multi-walled carbon nanotubes in 2014. These nanotubes were the biggest product that year. The geographies carbon nanotubes market was dominated by Asia Pacific in 2014. The region was the biggest market in the world.
This growth was ascribed to the expanding industry of polymers in India and China. Escalating production of electronics in Japan, Singapore, China and South Korea is also anticipated to positively affect the carbon nanotubes market during the forecast period.
North America is likely to be promising. This is owing to strong production of engineered polymers in the United States of America. Carbon nanotubes were utilized primarily in polymers in 2014. Thus, polymers dominated the applications sector of the carbon nanotubes market that year. They occupied more than 60 percent of the share.
Increased applications of engineered polymers in the industries of automotives and construction are predicted to expand the market further. Rising demand for wind turbines and solar cells is also anticipated to endorse further growth of the carbon nanotubes market. All the consumer and application sectors of the market are expected to profit in the years to come.
Information Source: Grand View Research