Single-walled Carbon Nanotube Market: Demand from Electronics & Semiconductors Industry to Fuel Growth
The strength and flexibility offered by single-walled carbon nanotubes has been instrumental in their gaining popularity across industries, for the control of other nanoscale structures. They are considered highly effective conductive devices, significantly improving the electrical, thermal, and mechanical properties of the final product, contributing to their widespread adoption, and subsequently, the growth of the single-walled carbon nanotube market. As such, the global single-walled carbon nanotube market was valued at ~US$ 130 Mn in 2018, and is expected to hit the ~US$ 5 Bn mark by the end of the forecast period of 2027.
In recent years, these nanotubes are being increasingly used in electronics and semiconductors, accounting for one-third of the total market share by volume, the largest end-use industry in the global single-walled carbon nanotube market. They are widely used in electronic applications, such as in sensors and logic gates, and electro-optical applications as well, because they are semiconducting in nature. On the basis of the versatility of use, this sector is being estimated to grow at the rate of ~58% over the forecast period. This can also be credited to growing research, globally, toward understanding and improving the production methods of commonly-used nanomaterials, aiding the growth of the single-walled carbon nanotube market.
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High Pressure Carbon Monoxide Method for Production to Gain Ground
Different technologies have been used in the production of single-walled carbon nanotubes for commercial purposes, of which, chemical vapor deposition (CVD) remains the most popular, as it offers increased control on the final product. It holds the biggest share of the market by value (~50%), and is expected to retain this dominance throughout the forecast period.
However, the high pressure carbon monoxide method (HiPCo) is quickly gaining significance in the single-walled carbon nanotube market, projected to grow at the fastest rate of ~55% in the foreseeable future. This increasing popularity can be attributed to the resulting high-quality of single-walled carbon nanotubes manufactured using this process, which offers fewer structural defects and high intrinsic selectivity.
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APAC to Hold Maximum Share in Global Market
The high demand for these nanotubes in APAC has driven the growth and popularity of the single-walled carbon nanotube market in the region, which, in 2018, occupied around half of the global landscape. The APAC market is set to grow at a steady pace of ~50% in the foreseeable future, which can be attributed to the growing infrastructure in the region. Another contributing factor is the growth of several end-use industries in the region, such as the electronics & semiconductors, energy, automotive, and biomedical sectors, which, in turn, is likely to positively influence the single-walled carbon nanotube market.
However, the SWCNT market in Europe, which accounts for ~40% of the global share by volume, is expected to be shaped by the presence of leading producers of single-walled carbon nanotubes in the region, including OCSiAl and Thomas Swan & Company Ltd.
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According to this report on the SWCNT market by Transparency Market Research, the single-walled carbon nanotube market is expected to grow at an impressive rate of ~52% in the foreseeable future. The market is highly consolidated, with OCSiAl, a leading global player, enjoying a monopoly of ~92% share in the landscape.
Most of the global demand for single-walled carbon nanotubes has been from the electronics & semiconductors, energy, and biomedical industries, among others, in recent years. Players should look into the commercial, cost-effective, bulk manufacturing of nanotubes to keep pace with the demands of these verticals, and gain a competitive edge in the market.
With the production of single-walled carbon nanotubes mainly focussed in Europe, with smaller pockets around the world, players in the global landscape should focus on making inroads into developing economies, especially in APAC, which are likely to offer lucrative opportunities as far as geographical expansion is concerned.
Single-walled Carbon Nanotube Market: Description
- The global single-walled carbon nanotube market is set to grow at a high CAGR of ~52%, from ~US$ 130 Mn in 2018 to ~US$ 5 Bn by 2027.
- Single-walled carbon nanotubes (SWCNTs) possess unique electrical, thermal, and mechanical properties. They are cylindrically shaped allotropes of carbon that have high surface area and aspect ratio (length to diameter ratio).
- Single-walled carbon nanotubes can be either semiconducting or metallic in nature. Electronic applications such as sensors, logic gates, and other electro-optical applications based on field effect transistor prefer single-walled carbon nanotubes that are semiconducting in nature. Metallic type single-walled carbon nanotubes are preferred in optics and plasmonics applications.
- The high surface area of single-walled carbon nanotubes make them ideal to be used for battery electrode & capacitor applications, as they offer current and enhanced electrical & mechanical stability.
- The structure of a single-walled carbon nanotube is cylindrical, formed by rolling a graphene sheet, and then closing it on both sides by fullerene hemi-spheres. The graphene sheet can be rolled in different ways to obtain the three types of single-walled carbon nanotubes - zigzag, armchair, and chiral.
Key Growth Drivers of Single-walled Carbon Nanotube Market
- Increase in the demand for EMI shielding for the protection of electronic devices is anticipated to enhance demand in the SWCNT market space. Single-walled carbon nanotubes that have high surface area and aspect ratio are considered suitable for the preparation of efficient EMI-shielding composites.
- Electrically conducting polymer composites in which single-walled carbon nanotubes are used as fillers have been gaining popularity in the last few years as compared to conventional metal-based EMI-shielding materials. This is due to the former’s light weight, resistance to corrosion, flexibility, and processing advantages.
- Applications such as flexible electronics, wearable electronics, smart clothing, flexible displays, stretchable sensors, and implantable devices demand effective EMI shielding. This is likely to drive the growth of the single-walled carbon nanotube market.
Key Challenges for Single-walled Carbon Nanotube Market
- The uniform dispersion of single-walled carbon nanotubes in polymer matrices, such as epoxy, polyamide, cyanate ester, polyvinyl alcohol, and polyester is considered a fundamental challenge for manufacturers of single-walled carbon nanotube-polymer composites. Improper dispersion of SWCNT leads to agglomeration, thus affecting their intrinsic properties.
- Achieving suitable single-walled carbon nanotube-matrix interfacial bonding that offers effective stress transfer is another critical challenge for the fabrication of single-walled carbon nanotube-based polymer composites.
- Problems related to single-walled carbon nanotube agglomeration and challenges associated with effective stress transfer lead to low market penetration of the product. Hence, it is likely to hinder the expansion of the global single-walled carbon nanotube market.
Lucrative Opportunities in Single-walled Carbon Nanotube Market
- Single-walled carbon nanotubes can be easily dispersed in plastic materials to improve their mechanical properties in such a way that significant weight reduction can be obtained to achieve greater fuel efficiency. This property can be exploited for automotive applications in the near future.
- Single-walled carbon nanotubes are likely to offer significant opportunities in sporting goods applications, owing to their high stiffness, mechanical strength, conductivity, and chemical structure. The demand for single-walled carbon nanotubes for applications such as golf sticks, tennis rackets, helmets, and sports bicycles are on the rise.
Asia Pacific to Dominate Global Single-walled Carbon Nanotube Market
- Advancements in material science & technology and rising demand for composite materials, power engineering, radiation technologies, nano-electronics, biotechnology, optics, and plasma technologies have led to an increase in the demand for advanced nanomaterials such as single-walled carbon nanotubes in the Asia Pacific region. Asia Pacific is a rapidly expanding market for single-walled carbon nanotubes, in terms of application as well as production. Countries such as China, Japan, India, Taiwan, and Malaysia are witnessing the growth of various end-user industries such as electrical & electronics, automotive, and energy.
- Emerging economies in Asia Pacific are likely to increase their electric power output in order to cater to the rising demand for electricity. The demand for single-walled carbon nanotubes for use in energy storage applications is on the rise. Moreover, increasing investments in rural electrification is considered a key factor that could offer significant opportunities to manufacturers in the SWCNT market.
- Advancements in consumer electronics, increase in the production of electric vehicles, and technological advancements in the medical and aerospace sectors are likely to offer significant expansion opportunities to the single-walled carbon nanotube market in Asia Pacific.
- Carbon nanotube manufacturers in Asia Pacific, such as Cnano Technology, Nanocyl SA, and Carbon Solutions, are focusing on producing single-walled carbon nanotubes. Manufacturers based in Japan, such as Zeon Nanotechnology Co., Ltd and Meijo Nanocarbon Co. Ltd, have succeeded in the commercial production of single-walled carbon nanotubes.
Leading Players in Global Market
- Key players operating in the global single-walled carbon nanotube market include:
- eon Nanotechnology Co., Ltd,
- Thomas Swan & Co., Ltd,
- Meijo Nanocarbon Co. Ltd, etc.
Single-walled Carbon Nanotube Market – Scope of the Report
A latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global single-walled carbon nanotube (SWCNT) market to gauge its potential future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating a landscape for the future growth of the global single-walled carbon nanotube market, and identifies opportunistic avenues of business potential for stakeholders. The report also provides insightful information about how the global SWCNT market will progress during the forecast period of 2019–2027.
The report offers intricate dynamics about different aspects of the global single-walled carbon nanotube market that aid companies operating in the market in make strategic development decisions. TMR’s study also elaborates on the positive impacts of single-walled carbon nanotubes on the electronics and semiconductors industry. It also includes a key indicator assessment to highlight the growth prospects of the global single-walled carbon nanotube market, and estimates statistics related to market progress in terms of value (US$ Thousand) and volume (Kilograms).
This study covers a detailed segmentation of the global single-walled carbon nanotube market, along with key information and a competitive outlook. The report mentions the company profiles of key players that are currently dominating the global SWCNT market, wherein, various developments, expansions, and winning strategies practiced and executed by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Single-walled Carbon Nanotube Market
The report provides detailed information about the global single-walled carbon nanotube market on the basis of comprehensive research on various factors that play a key role in accelerating the growth of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market, and are looking for innovative ways to create a unique benchmark in the global single-walled carbon nanotube market to help them make successful strategies and target-driven decisions.
- What will be the cost-effective technology for the manufacturing of single-walled carbon nanotubes during the forecast period?
- What are the key end-use industries of single-walled carbon nanotubes, and what is the role of SWCNTs in various end-user industries?
- What will be the Y-o-Y growth of the single-walled carbon nanotube market between 2019 and 2027?
- What are the winning imperatives of frontrunners in the single-walled carbon nanotube market?
- Which end-user industry is expected to earn maximum revenue for single-walled carbon nanotubes during the forecast period?
Research Methodology – Single-walled Carbon Nanotube Market
The research methodology adopted by analysts for combining the global single-walled carbon nanotube market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the global single-walled carbon nanotube market.
For primary research, analysts have interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through interviews, analysts have emphasized on the changing scenario of the global single-walled carbon nanotube market.
For secondary research, analysts have scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the global single-walled carbon nanotube market
Single-walled Carbon Nanotube Market – Segmentation
TMR’s research study assesses the global single-walled carbon nanotube market on the basis of technology, end user, and region. This report presents extensive market dynamics and progressive trends associated with different segments, and how they are influencing the growth of the global single-walled carbon nanotube market.
Chemical Vapor Deposition (CVD)
HiPCo (High Pressure Carbon Monoxide)
Others (Including Laser Ablation, Flame Synthesis, etc.)
Electronics & Semiconductors
Aerospace & Defense
Others (Including Sports & Leisure)
Middle East & Africa