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Carbon Nanotube Market size was valued at USD 34 billion in 2019 and is poised to grow from USD 38.52 billion in 2023 to USD 97.64 billion by 2031, growing at a CAGR of 13.25% in the forecast period (2024-2031).

Manufacturers are collaborating with universities to increase market share and maintain their presence in the industry. Most businesses are developing partnerships, collaborations, joint ventures, and new product development methods to increase their product portfolios and worldwide reach. Low business viability due to high production costs is likely to be a source of worry for industry participants. However, the governmental push to promote nanotechnology will be the driving force for producers. 'Arkema SA', 'Showa Denko KK', 'Hanwha Chemical Corp.', 'OCSiAl Group', 'Cheap Tubes Inc.', 'Nanocyl SA', 'Raymor Industries Inc.', 'Nanoshel LLC', 'Thomas Swan & Co. Ltd.', 'Toray Industries Inc.', 'FutureCarbon GmbH', 'Arry International Group Limited', 'Hyperion Catalysis International Inc.', 'Cnano Technology Limited', 'Carbon Solutions Inc.', 'Klean Industries Inc.', 'Continental Carbon Nanotechnologies Inc.', 'Nanolab Inc.', 'Nanolayer Pvt. Ltd.', 'Nanointegris Inc.'

Increment in the Aerospace Industry to Aid Carbon Nanotubes Market Growth Flying entails a variety of risks, and most aircraft manufacturers strive to make aerospace components that are more tangible, durable, and strong. Reduced weight is a priority in the aerospace industry in order to reduce fuel consumption and extend aircraft operating costs. The fuselage of a contemporary and advanced aircraft is made up of multiple sheets of various composite materials. In the aerospace industry, nanomaterials are used to improve properties that improve overall aircraft performance. The majority of professionals, including manufacturers and engineers, are working to develop methods for producing aerospace-grade composites.

Nanotubes are being developed because they are more biocompatible, water soluble, inexpensive, and quickly produced. Because of their unique features, they are superior drug carriers than currently existing drug carriers such as liposomes, polymers, niosomes, microparticles, and nanoparticles. Carbon nanotube field-effect transistors (CNFETs) use less energy than silicon field-effect transistors and might be used to create new sorts of three-dimensional microprocessors. The prototype, however, was confined to university laboratories due to manufacturing and technological restrictions. A team of MIT researchers also devised a method for producing CNFETs at a silicon manufacturing facility.

Asia Pacific dominated the carbon nanotubes market. Asia Pacific, dominated by China, India, South Korea, and Japan, is expected to hold the majority of share in the near future. Carbon nano materials continue to be backed by the Chinese market due to the availability of raw materials and low production costs. Increasing demand for polymers in the automobile, aerospace, electronics, and construction industries in China, India, Malaysia, and Japan is expected to propel industry growth. The increase in government expenditures on solar cell production, as well as increased solar power output, will increase regional industry growth.

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Global Carbon Nanotube Market

Product ID: SQMIG15E2399