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In this context, the single-walled carbon nanotube (SWCNT) industry has experienced very dynamic trends that reflect shifts within industries such as electronics, healthcare, and materials science, among others. The demands for single-walled carbon nanotubes have been changing over time depending on their applications in different sectors. One major trend is the increased use of SWCNTs in electronics. Besides, there is an upsurge in demand for SWCNTs by material scientists worldwide. These composites include polymers with mechanical thermal or electrical properties being enhanced through the introduction of these nanotubes into them, among other materials, to improve their performance levels. As a result, industries like aerospace and automotive, as well as construction, increasingly employ SWCNT-based materials owing to their ability to confer lightweight-high strength onto final products produced by these sectors. Furthermore, Single-Walled Carbon Nanotubes are highly valued in materials science applications due to their ability to provide tailored properties necessary for meeting specific industrial requirements.
What's more, there have been innovations in formulations SWNCTS through formulation to meet specific industry requirements. Manufacturers and researchers are developing SWCNTs with controlled chirality, functionalization, and dispersion. The issues of safety, environmental impact, and responsible use of nanomaterials in various industries, including the SWCNTs, are now being emphasized by regulatory authorities. Encouragingly, manufacturers are conducting their research to understand the risks and benefits of SWCNTs better and tweak their processes to conform to new regulations. This growing trend falls in line with its dedication to safe practices in commercializing nanomaterial products.
The market is also experiencing geographical diversification, and emerging economies are becoming key players in this industry. Rapid industrialization coupled with technological developments witnessed in regions like Asia-Pacific has fueled demand for SWNTCs across different industries, such as electronics, materials, and healthcare, among others. The booming industry in these areas represents opportunities for manufacturers who may wish to establish a strong presence there, thus serving many sectors that require the product's supply. Now, technological advances have paved the way for innovations in production techniques so as to enhance efficiency while cutting costs for the Single-Walled Carbon Nanotubes market. Therefore, cost-effective and scalable synthesis techniques, SWCNTs made from sustainable raw materials, and those possessing enhanced properties have become a critical topic among researchers. This fits into the general industry drive towards sustainable practices and green technologies in the production of nanomaterials.
Single Walled Carbon Nanotube Market Highlights:
Global Single-Walled Carbon Nanotube (SWCNT) Market
Single-Walled Carbon Nanotube (SWCNT) Market Size was valued at USD 0.78 billion in 2023. The Single-Walled Carbon Nanotube (SWCNT) industry is projected to grow from USD 1.17 billion in 2024 to USD 30.5 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 50.04% during the forecast period (2024-2032).
Carbon nanotubes (CNTs) are allotropes of carbon. Theycomein a cylindrical nanostructure of carbon molecules with unusual properties which are valuable in nanotechnology and other fields of material science. The properties exhibited by carbon nanotubes include, greater thermal conductivity, extraordinary electrical properties and good mechanical strength. Single-walled carbon nanotube (SWCNT) is a long hollow structure with the wall formed by single-atom-thick sheets of carbon. The sheets are rolled at specific and discrete angles and the combination of rolling angle and radius of tube decides the properties of the nanotube. Applications of SWCNT can be found in diverse industries including, aerospace & defense, electrical & electronics, energy, sports, and chemicals among the others. They are used as an additives to various structural materials to enhance properties of that material. Apart from this, SWCNTs are used as an additive in polymers, and as a catalyst in many commercial chemical reactions. In electrical & electronics industry the use of SWCNT can be seen in electromagnetic-wave absorption &shielding, energy conversion and lithium-battery anodes. Other industries in which SWCNTS find their applications include healthcare, wherein there is growing use of SWCNT for drug delivery at specific point in body.
SWCNT are very advantageous as their properties can be changed according to their need in a specific application. The band gap of SWCNT can vary from 0-2 eV which shows metallic or semiconducting behavior thus, enabling its maximum usage in growing electrical& electronics industry. Prices of SWCNT declined sharply since 2010 due to rise in its production, which is expected to decline during the forecast period to benefit major end use industries. This in turn is projected to drive growth of the global SWCNT market. The global aerospace & defense industry is growing at a higher CAGR on account of increasing demand of commercial and fighter jets around the world, which is anticipated to fuel the demand of SWCNT.In addition to this, the global electronics & electrical industry is estimated to reach a trillion figure during the forecast period, which may propel growth of the global SWCNT market. Technological advancements are being made in the global energy sector such as use of SWCNT to improve efficiency and reduce cost of batteries, solar cells and other fuel cells along with application in energy conservation. This is expected to drive the demand of SWCNT this era of increasing environmental concerns. However, the growth of SWCNT market might get hit by the cost of structure, complex manufacturing and processing methods. In addition to this, the methods such as arch discharge and laser ablation are harmful to the environment and hence it isnot viable to produce SWCNT on large scale.
Global single-walled carbon nanotube (SWCNT) market share, by end use industries 2016 (%)
Regional Analysis
There are five key regions in which the global SWCNT market is divided into. It includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Among them, Asia Pacific is both the largest and fastest growing region in the global SWCNT market. This region accounts for ~40% share of the overall SWCNT market. India, Japan, and China are the leading market in this region owing to the presence of many key players and end use industries such as electrical & electronics and automotive. North America is the second largest region in the global SWCNT market. Countries namely Germany, U.K., France and Italy are the major markets in this region. This is attributed to the growing aerospace & defense industry along with green energy sector in this region. After North America, Europe is the significant region in terms market size, in the global SWCNT market. U.S is holding major share of the regional SWCNT market. The automotive industry and electrical and electronics in this region are consuming considerable amount of SWCNT, which is anticipated to push the regional market forward. Latin America is projected to grow at significantly higher CAGR in coming years, due to increasing industrialization and pacifying economic conditions in this region. Lastly, the Middle East & Africa is emerging, owing toincreasing construction activities to cater flourishing tourism industry in the region to join hands with the leading regions in the global SWCNT market during the forecast period.
Segmentation
The global SWCNT market has been segmented on the basis of method, end use industry, and region. Based on method, the market is divided into arc discharge, laser ablation, chemical vapor deposition, high pressure carbon monoxide. On the basis of end use industry, the global SWCNT market is segmented into aerospace & defense, electrical & electronics, automotive, energy, sports, and others. Geographically, the global SWCNT markets is divided into five key regions including Asia Pacific, North America, Europe, Latin America, and Middle East & Africa.
Key players
The prominent players in the global SWCNT market are Nanocyl SA (Belgium), SHOWA DENKO K.K. (Japan), Arry International Group Limited (China), Hanwha Chemical Corporation (South Korea), Carbon Solutions, Inc. (U.S.), Thomas Swan & Co. Ltd. (U.K.), OCSiAI (Luxembourg), NanoLab, Inc. (U.S.), Nanoshel LLC (U.S.), KUMHO PETROCHEMICAL. (South Korea), and others.
Intended Audience
- SWCNTs Manufacturers
- Traders and distributors of SWCNTs
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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