Carbon Nanotubes (CNT) Market to Exhibit 15.3% CAGR by 2026; Rising Launch of Innovative Products to Boost Growth

The global carbon nanotubes (CNT) market size is projected to reach USD 13.65 billion by 2026. It is set to gain impetus from their ever-increasing demand from field emission displays, hydrogen storage, solar PV cells, drug delivery, integrated circuits, fuel cells, and lithium batteries industries. This information is given by Fortune Business Insights™ in a recent report, titled, “Carbon Nanotubes (CNT) Market Size, Share & Industry Analysis, By Product (Multi-Walled Carbon Nanotubes (MWCNT) and Single-Walled Carbon Nanotubes (SWCNT)), By Application (Plastics & Composites, Electrical & Electronics, Energy, and Others), and Regional Forecast, 2019-2026.” The report further states that the market stood at USD 4.56 billion in 2018. However, it would exhibit a CAGR of 15.3% during the forecast period between 2019 to 2026.

Cabot to Purchase SUSN for Strengthening its Position in Market

In January 2020, Cabot Corporation, a specialty chemicals and performance materials company based in Massachusetts, successfully signed an agreement to acquire Shenzhen Sanshun Nano New Materials Co., Ltd (SUSN), a leading producer of carbon nanotubes and dispersions headquartered in China. The total deal is worth USD 115 million. This acquisition would aid Cabot in polishing its formulation capabilities in the highly competitive batteries market, as well as in strengthening its position, mainly in China. The country is considered to be one of the fastest and largest markets for electric vehicles worldwide.

The addition of SUSN’s wide range of CNTs would boost Cabot’s suite of conductive carbon product offerings that presently consists of ATHLOS™ carbon nanostructures, LITX® conductive additives for lithium-ion batteries, PBX® carbon performance additives for advanced lead-acid batteries, and VULCAN XC-series carbon blacks. It would also help Cabot in becoming the sole carbon additive supplier with commercially proven dispersion, carbon nanostructure, CNT, and carbon black capabilities.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/carbon-nanotubes-cnt-market-102700

Increasing Production of Electronic Goods to Drive Growth

The manufacturing of electronic products is upsurging day by day in countries, such as Singapore, Japan, South Korea, and China. The usage of CNT is hence, increasing especially in the manufacturing of semiconductors and printed circuit boards. Besides, the ongoing technological developments and the launch of cutting-edge products are likely to propel the CNT market growth in the coming years. Apart from that, CNT possesses numerous mechanical and electronic properties that make them best suited for the electronic industry to manufacture a wide range of consumer electronics, namely, computers, smartphones, and televisions. However, CNT is harmful to the environment, as well as humans. It may obstruct growth.

Key Players Adopt the Strategy of Acquisition to Gain Competitive Edge 

The market houses many companies that are currently keeping a track of all the carbon nanotubes market trends. These are supporting them to choose the appropriate strategy to grow their businesses. They are mainly opting for the strategy of mergers and acquisitions with the other local companies and start-ups to intensify competition.

Fortune Business Insights™ lists out all the companies operating in this market. They are as follows:

• Carbon Solutions, Inc.


• Nanocyl SA


• Klean Commodities


• Arkema SA


• SHOWA DENKO K.K.


• Nanoshell LLC


• Hyperion Catalysis International


• Other key market players

A Significant Industry Development-

• January 2019: Saudi Basic Industries Corp. (SABIC), a diversified manufacturing company headquartered in Saudi Arabia, announced its acquisition of a majority stake in Black Diamond Structures (BDS), a five-year-old manufacturer of nanomaterials based in Austin. The latter is mainly focused on enhancing energy storage for lithium-ion and lead-acid batteries.

Further Report Findings-

• North America generated USD 1,278.7 million in 2018 in terms of CNT market revenue. This growth is attributable to the presence of several manufacturing companies produced PEEK and PEI in the U.S.


• The market in Asia Pacific is likely to be driven by the availability of raw material and cost-effective production in countries, such as India, Japan, China, and South Korea.


• In terms of application, the electrical and electronics segment held 10.6% carbon nanotubes market share in 2018. This occurred because of the rising usage of CNT for developing electronic devices, namely, field-effect transistors and diodes.

The CNT market can be segmented in the following manner: