The scope of our recent study, titled "Multi-walled Carbon Nanotubes Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Application (Electrically Conductive Polymers, Structural Composites, Concrete Additives, Batteries, Research & Development, and Others), and Geography," includes the factors fuelling the market growth, revenue estimation and forecast, and market share analysis. It also entails the identification of significant market players and their key developments.
The multi-walled carbon nanotubes market is expected to grow from US$ 5,252.36 million in 2021 to US$ 10,748.27 million by 2028. It is estimated to rise at a CAGR of 10.8% from 2021 to 2028.
Multi-walled carbon nanotubes, which are hollow carbon allotropes with a high length to diameter ratio, possess a range of characteristics, but their most notable feature is their exceptional electrical conductivity.
Based on application, the multi-walled carbon nanotubes market is segmented into electrically conductive polymers, structural composites, concrete additives, batteries, research & development, and others. The battery segment held the largest market share in 2020 and is anticipated to exhibit the highest growth rate during the projected period. Integrating multi-walled carbon nanotube materials, such as those produced by SouthWest NanoTechnologies (SWeNT®), into cathodes has resulted in notable enhancements in battery properties. The combination of MWCNTs has demonstrated significant potential for use as anodes in lithium-ion batteries due to their cycling stability, reversible capacity, and Coulombic efficiency. As a result, the growing implementation of MWCNTs in batteries is driving the market growth. Electrically conductive polymers rank second in market share, followed by research and development. The high electrical conductivity of multi-walled carbon nanotubes (MWCNT) provides various advantages. Even small MWCNTs added to insulating materials can significantly enhance their conductivity. Some applications of MWCNTs include conductive latex gloves for touchscreen use and antistatic conveyor rollers capable of dissipating static charge.
The market for multi-walled carbon nanotubes is categorized into five key regions, namely North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). North America held the largest share of the global market in 2020 and is projected to be the region with the fastest growth during the forecast period. The United States has a strong demand for newer and faster electronic products due to the rapidly advancing technological innovations and increasing research and development activities. Multi-walled carbon nanotubes are utilized in the electronics sector to enhance the electrical and thermal conductivity of electronics, providing improved durability and a longer lifespan than conventional electronic circuit materials. Therefore, these factors are driving the North American market.
Impact of COVID-19 Pandemic on Multi-walled Carbon Nanotubes Market
The multi-walled carbon nanotubes market was negatively impacted by the COVID-19 pandemic, which resulted in the closure of manufacturing facilities and restrictions on transportation and logistics. The disruption in the supply chain also affected the supply of MWCNTs. Manufacturers had to adhere to state and regional guidelines and implement extensive measures to safeguard the health and safety of their workers. As a result, several manufacturers temporarily suspended their operations or limited their production capacity in early 2020.
In addition, the closure of laboratories and production facilities resulted in a slowdown of research activities. The COVID-19-related economic downturn and the decline in oil prices collectively affected the growth of small and large chemical manufacturers, which consequently impacted the multi-walled carbon nanotubes market in the initial months of the pandemic. However, with the gradual easing of government restrictions in late 2020 and successful vaccination efforts, businesses began to recover, leading to a resurgence of market activity worldwide.
Multi-walled Carbon Nanotubes Market Size, by Region, during 2021-2028
The "Global Multi-walled Carbon Nanotubes Market Analysis to 2028" is a specialized and comprehensive study of the consumer goods industry that focuses on analysing market trends. The report's objective is to provide an overview of the market with a detailed segmentation analysis based on application and geography. The market is categorized into electrically conductive polymers, structural composites, concrete additives, batteries, research and development, and other applications. The geographical segmentation includes five primary regions: North America, Europe, Asia Pacific (APAC), South & Central America (SCAM), and the Middle East & Africa (MEA). The North American region is projected to be the market's fastest-growing segment, followed by the Asia Pacific region.
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