Carbon Nanotubes Market Scenario and the Growth Prospects with Forecast 2023

A large number of players are already present in the global carbon nanotubes market. Showa Denko K.K., Cnano Technology Ltd., and Nanocyl S.A. are the top three players in this market and had held a collective market share of only about 23.3% in 2014, revealing a highly fragmented market where small regional players hold the majority of the market revenue.

Request Sample Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=239

Transparency Market Research finds that the high level of fragmentation is caused due to the low level of product differentiation, which invites new entrants to easily make their mark in the carbon nanotube revenue stream. However, they will still face many problems including high capital requirements, high switching costs, and the overall scarcity of raw materials.

Another point that carbon nanotube manufacturers have in their favor is the low threat of substitutes, which are still only in their nascent stage.

Massive Carbon Nanotube Demand from Polymer Industry for Reinforcing Polymer Materials Boosts CNT Sales

Carbon nanotubes provide significant improvements to the strength of polymers and enhancing their utility in the industries of construction, aerospace, defense, and automotive. Carbon nanotubes add to the mechanical strength and tensile strength of polymers and makes them roughly 20 times stronger than steel. Additionally, carbon nanotube-imbued polymers are much lighter than steel. The culmination of these points makes such polymers highly sought-after in the above industries.

Other areas where the introduction of carbon nanotubes adds highly positive points to materials is displays. Most displays are conventionally coated with indium tin oxide, which ends up making them brittle and even more expensive than screens with carbon nanotube-based films. Similar consequences are visible in the use of carbon nanotubes in the production of long wind turbines, an area where high strength and low weight can exponentially improve power generation potential.

High Cost of High Purity Carbon Nanotubes Holds Back Market Growth

“Chemical vapor deposition is the most common manufacture technique used for carbon nanotubes,” explains a TMR analyst. “This method makes use of hydrocarbons for raw materials and metal catalysts confined within a reactor. Once the carbon nanotubes that are formed deposit on the metal surfaces, it is necessary to separate the nanotubes from the metal which is considered an impurity after manufacture. This is a highly complex process and takes up a major chunk of the total manufacturing expenditure of a company.”

Read Report Overview @ https://www.transparencymarketresearch.com/carbon-nano-tubes-market.html

The overall production cost of high purity carbon nanotubes is much higher than the cost of the actual manufacturing process itself and poses as a barrier for many players due to financial constraints.

The problem complicates itself even further as currently, there is a much smaller demand for carbon nanotubes than the global supply for it. However, TMR analysts expect this demand to rise significantly over the coming years, and manufacturers should shift their capital accordingly.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Contact

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.