Carbon Nanotubes Market Size Worth Usd 8.1 Billion by 2024: Global Market Insights, Inc.

Carbon Nanotubes Market size is expected to exceed USD 8.1 billion by 2024; according to a new research report by Global Market Insights, Inc.

Multi wall carbon nanotubes market size was responsible for over 90% of global volume in 2015. MWNCT exhibit extraordinary thermal, electrical, and mechanical properties, which makes them desirable for application as polymers additives, catalysts, gas-discharge tubes in telecom networks, electron field emitters for cathode ray lighting elements, flat panel display, electromagnetic-wave absorption & shielding, hydrogen storage, energy conversion, lithium-battery anodes, nanotube composites (by coating or filling), nanoelectrodes, nanolithography, drug delivery, sensors, reinforcements in composites, and supercapacitor.

Polymers dominated the application base and accounted for over 50% of global carbon nanotubes market share in 2015 and are forecast to retain dominance up to 2024. CNT offer tensile strength and elastic modulus to polymers making them ideal for industrial applications. Polymer mechanical properties are significantly influenced by interfacial interactions between polymer matrices and carbon nanotubes. Booming polymer applications across industries will subsequently propel industry growth over the forecast timeframe.

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Rising carbon nanotubes demand in other applications such as medical & healthcare, electrical devices, and optical devices is likely to further fuel industry growth over the forecast timeframe. However, high cost synced with purification results in increased product price, which may hamper industry growth from 2016 to 2024. Furthermore, substitute threat of nanomaterials such as polypeptide nanotubes, carbon nanoribbons, and cellulose nanocrystals may negatively influence global carbon nanotubes market over the forecast timeframe.

Key insights from the report include:

Polymer applications are...