The scope of the recent study, titled 'Multi-walled Carbon Nanotubes Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Application (Electrically Conductive Polymers, Structural Composites, Concrete Additives, Batteries, Research & Development, and Others), and Geography,' includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis. It also entails the identification of significant market players and their key developments.
The multi-walled carbon nanotubes market 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 are the cylindrical, hollow allotropes of carbon with a high diameter to length ratio. These nanotubes have various properties, but high electrical conductivity is the most prominent.
Based on application, the multi-walled carbon nanotubes market is segmented into electrically conductive polymers, structural composites, concrete additives, batteries, research & development, and others. In 2020, the batteries segment dominated the market and is also expected to be the fastest-growing segment during the forecasted period. When incorporated into cathodes, multi-walled carbon nanotube materials, such as the ones from SouthWest NanoTechnologies (SWeNT®) have significantly improved battery properties. The combination of MWCNTs reveals a high prospect in cycling stability, reversible capacity, and Coulombic efficiency, demonstrating the potential suitability of these nanotubes as anodes in lithium-ion batteries. Thus, the increased application of these nanotubes in batteries is driving the market. Electrically conductive polymers has the second largest market share followed by research and development. Multi-walled carbon nanotubes (MWCNT) have a high electrical conductivity that offers various benefits. The insulating materials can gain significant conductivity even if relatively small amounts of MWCNTs are mixed with these materials. Conductive latex gloves for touchscreen use or antistatic conveyor rollers that can dissipate the static charge are a few of its applications
The multi-walled carbon nanotubes market is segmented into five main regions - North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). In 2020, North America dominated the global market and is expected to be the fastest-growing region in the market during the forecasted period. There is a high demand for newer and faster electronic products in the US due to the rapidly growing innovations in technology coupled with increasing research and development activities. Multi-walled carbon nanotubes are used in the electronics sector to improve the electrical and thermal conductivity of electronics and offer a long-life span and better durability compared to traditional electronic circuit materials. Thus, these factors are driving the market in North America.
The COVID-19 pandemic adversely affected the multi-walled carbon nanotubes market due to the shutdown of manufacturing facilities and restrictions on transportation and logistics. Disruptions in the supply chain also hampered the supply of MWCNTs. Following the state and regional guidelines, manufacturers had to implement extensive measures to protect the health and safety of their employees. Many of them temporarily closed their operations or restricted the production capacity in early 2020.
Furthermore, due to the shutdown of laboratories and production divisions, research activities were hampered. The combined consequences of the COVID-19-related economic slump and the decline in oil prices hindered the growth of small-scale and large-scale chemical manufacturers. All these factors harmed the multi-walled carbon nanotubes market during the initial months of the pandemic. However, businesses started recovering in late 2020 as the governments of various countries eased the restrictions imposed earlier that year. Moreover, successful vaccination drives further eased the current scenario leading to a rise in business activities worldwide, which helped the market revive.
Multi-walled Carbon Nanotubes Market Size, by Region, during 2021-2028
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 market is segmented 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.
Reasons to Buy
The multi-walled carbon nanotubes market 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 are the cylindrical, hollow allotropes of carbon with a high diameter to length ratio. These nanotubes have various properties, but high electrical conductivity is the most prominent.
Based on application, the multi-walled carbon nanotubes market is segmented into electrically conductive polymers, structural composites, concrete additives, batteries, research & development, and others. In 2020, the batteries segment dominated the market and is also expected to be the fastest-growing segment during the forecasted period. When incorporated into cathodes, multi-walled carbon nanotube materials, such as the ones from SouthWest NanoTechnologies (SWeNT®) have significantly improved battery properties. The combination of MWCNTs reveals a high prospect in cycling stability, reversible capacity, and Coulombic efficiency, demonstrating the potential suitability of these nanotubes as anodes in lithium-ion batteries. Thus, the increased application of these nanotubes in batteries is driving the market. Electrically conductive polymers has the second largest market share followed by research and development. Multi-walled carbon nanotubes (MWCNT) have a high electrical conductivity that offers various benefits. The insulating materials can gain significant conductivity even if relatively small amounts of MWCNTs are mixed with these materials. Conductive latex gloves for touchscreen use or antistatic conveyor rollers that can dissipate the static charge are a few of its applications
The multi-walled carbon nanotubes market is segmented into five main regions - North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). In 2020, North America dominated the global market and is expected to be the fastest-growing region in the market during the forecasted period. There is a high demand for newer and faster electronic products in the US due to the rapidly growing innovations in technology coupled with increasing research and development activities. Multi-walled carbon nanotubes are used in the electronics sector to improve the electrical and thermal conductivity of electronics and offer a long-life span and better durability compared to traditional electronic circuit materials. Thus, these factors are driving the market in North America.
Impact of COVID-19 Pandemic on Multi-walled Carbon Nanotubes Market
The COVID-19 pandemic adversely affected the multi-walled carbon nanotubes market due to the shutdown of manufacturing facilities and restrictions on transportation and logistics. Disruptions in the supply chain also hampered the supply of MWCNTs. Following the state and regional guidelines, manufacturers had to implement extensive measures to protect the health and safety of their employees. Many of them temporarily closed their operations or restricted the production capacity in early 2020.
Furthermore, due to the shutdown of laboratories and production divisions, research activities were hampered. The combined consequences of the COVID-19-related economic slump and the decline in oil prices hindered the growth of small-scale and large-scale chemical manufacturers. All these factors harmed the multi-walled carbon nanotubes market during the initial months of the pandemic. However, businesses started recovering in late 2020 as the governments of various countries eased the restrictions imposed earlier that year. Moreover, successful vaccination drives further eased the current scenario leading to a rise in business activities worldwide, which helped the market revive.
Multi-walled Carbon Nanotubes Market Size, by Region, during 2021-2028
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 market is segmented 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.
Reasons to Buy
- Highlights key business priorities to assist companies realign their business strategies
- Features key findings and crucial progressive industry trends in the global multi-walled carbon nanotubes market, thereby allowing players to develop effective long-term strategies
- Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets
- Scrutinizes in-depth market trends as well as key market drivers and restraints
- Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals
Table of Contents
1. Introduction
3. Research Methodology
4. Global Multiwalled Carbon Nanotubes Market Landscape
5. Multiwalled Carbon Nanotubes Market - Key Market Dynamics
6. Global Market- Global Analysis
7. Global Multi-walled Carbon Nanotubes Market Analysis - By Application
8. Multi-walled Carbon Nanotubes Market - Geographic Analysis
9. Impact of COVID-19
10. Company Profile
11. Appendix
List of Tables
List of Figures
Executive Summary
The multi-walled carbon nanotubes market 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.The high electrical conductivity of multi-walled carbon nanotubes has resulted in wide applications of multi-walled carbon nanotubes to manufacture batteries. Multi-walled carbon nanotubes include conductive latex gloves for antistatic conveyor rollers that can dissipate the static charge or for touchscreen use.
Based on application, the multi-walled carbon nanotubes market is segmented into electrically conductive polymers, structural composites, concrete additives, batteries, research & development, and others. In 2020, the batteries segment led the market. It is expected to register the highest CAGR during the forecast period.
Based on geography, the multi-walled carbon nanotubes market is segmented into North America, Europe, Asia Pacific (APAC), South & Central America (SCAM), and the Middle East & Africa (MEA). In 2020, North America dominated the market. It is also expected to be the fastest-growing region in the market during the forecast period. The adoption of multi-walled carbon nanotubes is surging in the aviation industry as they are being extensively used to increase and improve mechanical, electrical, and thermal properties. According to The International Trade Administration (ITA), the US aerospace industry is the largest in the world. It offers a skilled and educated workforce, extensive distribution systems, diverse offerings, and strong support at the local and national level for policy and promotion. The expansion in the North America aerospace industry is another factor driving this regional market.
Many industries, such as the chemicals and materials industry, faced unprecedented challenges due to the COVID-19 pandemic. The shortage of raw material and labor, the shutdown of factories, and other operational difficulties under COVID-19 safety protocols adversely affected the multi-walled carbon nanotubes market substantially. Lockdown restrictions heavily impacted the supply and production of these nanotubes, thus restraining the market's growth. These restrictions also led to the shutdown of various end-user industries, such as electronics, automotive, and others, resulting in a decline in the demand for MWCNTs, negatively impacting the market. However, the successful implementation of vaccination drives eased the impeding scenario by empowering the restoration efforts of people and enterprises.
The economies are reviving their operations, and the demand for multi-walled carbon nanotubes is expected to rise globally in the coming years. Key manufacturers have started resuming their operations. Moreover, the export and import volumes in the chemicals and materials industry are projected to increase significantly due to the relaxation of border and trade restrictions.
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 leading players in the multi-walled carbon nanotubes market. These companies are adopting various strategies, such as mergers & acquisitions and product launches, expanding their geographic presence and consumer bases.
The overall multi-walled carbon nanotubes market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants include industry experts, such as VPs, business development managers, market intelligence managers, national sales managers, external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the multi-walled carbon nanotubes market.
Companies Mentioned
- Eden Innovations Ltd.
- Arkema
- Showa Denk- K.K.
- Hyperion Catalysis International Inc.
- Klean Industries Inc.
- Kumh- Petrochemical Co. Ltd.
- Lg Chem
- Nanocyl Sa
- Ossila Ltd.
- Raymor Industries Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 151 |
| Published | March 2022 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 5252.36 Million |
| Forecasted Market Value ( USD | $ 10748.27 Million |
| Compound Annual Growth Rate | 10.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
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