Carbon nanotubes possess high tensile strength, which is up to 20 times higher than steel. These are suitable for use in lightweight materials, as they are five times lighter than steel. The demand for carbon nanotubes is high in aerospace, defense, and electronics industries due to their lightweight feature. Multi-walled carbon nanotubes (MWCNT) are the most widely used CNTs across the globe in various applications including polymers, electricals & electronics, energy, and others (medical, chemical, optical devices). Growth in various industries, especially in Asia Pacific, is driving the global carbon nanotubes market.
MWCNT find applications in electrical conductive transparent electrodes, conductive heating films, conductive nano inks, nanodevices, displays, chemical sensors, super batteries, supercapacitors, energy storage, solar industries, thermal interface material, and so on. The high demand from various applications, including drug delivery, field emission, interconnects, sensors, biomedical applications, and others, is also driving the global single-walled carbon nanotubes market.
By method, the chemical vapor deposition (CVD) segment of the carbon nanotubes market is expected to grow at the highest CAGR during the forecast period. The Asia Pacific carbon nanotubes market is expected to grow at the highest CAGR during the forecast period.