According to the recent research report titled ‘Global Carbon Nanotubes Market 2019-2028’, available with Market Study Report, global carbon nanotubes market size is projected to expand with a CAGR of 15.31% over 2019-2028.
 

As per the report findings, technological advancements, and opportunities offered by the aircraft manufacturing sector are driving global carbon nanotubes market growth.
 

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Carbon nanotube (CNT) usage in the aerospace industry is expected to rise as the use of composites and advanced epoxy adhesive systems increases. The product can also be employed in solar cell production. Moreover, growing applications of multi-walled carbon nanotubes (MWCNT) is significantly contributing to the market development.
 

However, hazardous nature of CNT that mandates strict legislation and regulations, is likely to negatively impact the business scenario. Besides, high processing and manufacturing costs, as well as a lack of processing knowledge pose as barriers to industry expansion.
 

Based on product type, the market is divided into multi-walled carbon nanotubes, single-walled carbon nanotubes, and others. As per application spectrum, worldwide carbon nanotubes industry comprises of li-ion battery electrodes, metal matrix composites, fire retardant plastics, conductive adhesives, conductive polymer composites, structural polymer composites, and others. Moving on to verticals, the market is bifurcated into energy, healthcare, textiles, automotive, aerospace & defense, electronics, and others.
 

Coming to geographical terrain, Middle East & Africa, Latin America, Asia Pacific, Europe, and North America are the major growth avenues for the market partakers. The report states that Asia Pacific industry is slated to grow substantially over the coming years, ascribed to supportive government policies such as no compulsion for an industrial license, 100% foreign direct investment (FDI), and technological shift from manual to automatic processes.
 

Electronics Development Fund (EDF) and Modified Special Incentive Package Scheme (M-SIPS) are introduced to boost the electronics sector. Carbon nanotubes are used to improve electrical and thermal conductivity in electronics industry. They have a longer life cycle and are more durable as compared to traditional electrical circuit materials. Thus, booming electronics sector is projected to contribute to the expansion of the regional market.
 

Key players operating in global carbon nanotubes market sphere are Zeon Corporation, Toray Industries Inc., Thomas Swan & Co. Ltd., Raymor Industries Inc., Nanoshel LLC, Jiangsu Cnano Technology Co. Ltd., Hyperion Catalysis International, Hanwha Corporation, Chengdu Organic Chemicals Co. Ltd., CHASM Advanced Materials Inc., Carbon Solutions Inc. (CSI), and Kumho Petrochemical Co. Ltd. among others.