Carbon Nanotubes (CNT) Market - Global Industry Insights, Trends, Size, Share, Outlook, and Opportunity Analysis, 2017–2025

Carbon nanotubes are advanced materials in nanomaterial category. Carbon nanotubes are allotropes of carbon formed by rolling graphene to form hollow strands with walls with thickness of one atom. They are cylindrical shaped with diameter of one-billionth of a meter and are 100 times stronger and just one-sixth as heavy as steel. The high strength and low weight combined with physical flexibility is their major advantage. High thermal and electric conductivity of carbon nanotubes as led to a rising shift from conventional copper tubes. Carbon nanotubes have emerged as an alternative and efficient tool in transporting drug molecules and also play an important role in body implants, dental filling, and medical device components. CNTs are functionalized with bioactive peptides, proteins, nucleic acids and drugs for targeted drug delivery to the cells and organs. Since the CNTs assure low toxicity and are not immunogenic, they hold great potential in the field of nanomedicine and nanobiotechnology, among many others.

 

Increasing healthcare applications paves way for the robust carbon nanotubes market growth

According to a study conducted by The University of Cambridge in 2016, the global CNT production capacity has increased tenfold over the last 5 years due to exponential rise in demand. The demand for carbon nanotubes across various industries such as electronics, semiconductors, chemical & polymers, advanced materials, and batteries & capacitors is driving growth of the carbon nanotubes market. Furthermore, the incorporation of CNTs in healthcare therapies such as cancer, hyperthermia, gene therapy, tissue regeneration, and artificial implants have drastically driven growth of the carbon nanotube market. The superior mechanical & transport properties are the major factors for the growth of carbon nanotubes.

Advent of multi-wall carbon nanotubes fueling growth of global carbon nanotubes market

The global carbon nanotubes market is segmented on the basis of product type, applications, end user and geography.

On the basis of product type,

  • Single wall carbon nanotubes
  • Multi wall carbon nanotubes

On the basis of application,

  • Targeted drug delivery
  • Tissue engineering
  • Gene therapy
  • Cancer therapy

On the basis of end user,

  • Hospitals
  • Clinics
  • Others

Financial backing from the government boosts and dominates the carbon nanotube market in Asia Pacific

Regional segmentation of the carbon nanotube market by Coherent Market Insights comprises Asia Pacific, North America, Europe, Latin America, Middle East, and Africa. According to the research published by National Centre of Biotechnology Information in Europe in 2012, 29,300 cancer cases were registered every year and carbon nanotubes proved an effective diagnostics in curing the major types of cancer. The increasing government investments in research and development in the field of nanotechnology integrated with healthcare drives growth of the carbon nanotubes. According to the news published in Electronic Engineering Times in 2017, Lux forecast states that, China will increase its global capacity for nanotubes by 30-50%, adding 500 tons every year. The reason for rapid expansion in China is the government funding for nanomaterials production which is around US$ 2 billion. This is expected to position Asia Pacific as a major powerhouse in the global carbon nanotube market. Growth is further augmented by increasing demand for CNTs in applications such as tumor targeting, drug delivery, chemotherapy and radiation therapy. 

The use of carbon nanotube scaffolds in tissue engineering represent a promising carbon nanotube market

Key players operating the carbon nanotubes market include CNano Technology Limited, Hanwha Nanotech Corporation, Kumho Petrochemical Company Ltd.  Scaffold designing, fabrication are major areas of biomaterial synthesis which have increased the market demands. Other prominent participants include Showa Denko, Carbon Solutions, Future Carbon GmbH, Continental Carbon Nanotechnologies Inc.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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