Global Carbon Nanotubes (CNT) Market is expected to reach USD 3.42 billion by 2022, according to a new study by Grand View Research, Inc. Increasing application scope of CNT in end-use industries including polymers, electronics, energy, marine, aerospace and automotives is anticipated to drive market growth over the forecast period. Government of China, Japan, U.S. and India have increased funding aimed at promoting nanotechnology at domestic level which is expected to open new avenues for CNT market over the next seven years.
Polymers were the largest application segment, accounting for over 60% of global CNT market volume in 2014. CNT are increasingly being fortified in polymers such as composites and plastic derivatives for improving electrical, thermal and mechanical strength of the end product.
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Further key findings from the study suggest:
• Global CNT market demand was stood at 5,064.1 tons in 2014 and is anticipated to exceed 20,000 tons by 2022, growing at a CAGR of over 18% from 2015 to 2020.
• Multi walled carbon nanotubes (MWCNT) was the largest product segment, accounting for majority market volume in 2014. Lower price in comparison to other CNT products is expected to promote market growth.
• Asia Pacific was the largest CNT market, accounting for over 40% of global volume in 2014. Growing plastic and composite industries in China and India on account of increasing domestic demand coupled with low manufacturing cost as compared to North America and countries of EU is anticipated to augment CNT market.
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For the purpose of this study, Grand View Research has segmented the global CNT market on the basis of application and region:
Global CNT Product Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2022)
• Single Walled Carbon Nanotubes (SWCNT)
• Multi Walled Carbon Nanotubes (MWCNT)
Global CNT Application Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2022)
Global CNT Regional Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2022)
• North America
• Latin America
• Asia Pacific
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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