Carbon nanotube market to grow at a CAGR of 22.4%

Press Release   •   Jul 16, 2012 14:08 BST

In 2011, the carbon nanotubes market value hit $192 million. In 2012 this amount is expected to grow even further and the market is expected to generate revenues of approximately $239 million.

Over the next five years the carbon nanotube market is estimated to grow at a compound annual growth rate (CAGR) of 22.4%, reaching a total value of $527 million by 2016.

Among the numerous categories in the evolving field of newly synthesized nanomaterials, carbon nanotubes are perhaps among the most dynamic and undergoing the most rapid pace of development.

The global market for multi-walled carbon nanotubes (MWNTs) is estimated to rise from $219 million in 2012 to $292 million in 2016, a CAGR of 9.1% between through to 2016.

The global market for few-walled carbon nanotubes (FWNTs) is estimated to reach $1.8 million in 2012 and $120 million in 2016, a CAGR of 131.6% between through to 2016.

Evidence for growth and interest within the carbon nanotube market is being reflected by the emergence of new carbon nanotube producers, now capable of offering carbon nanotubes in commercial-scale quantities, at more affordable and increasingly competitive unit pricing.

Furthermore, over the past five years, there has been extraordinary growth in patent activity. In 2010 alone, the number of issued carbon nanotube-related US patents reached 1,585, an increase of 54% over the previous year. In 2011, this increased more moderately, by 7.7%, but nonetheless reached an annual output record of 1,707.

For more information on the carbon nanotube market, see the latest research: Carbon Nanotube Market Report

Follow us on Twitter @CandMResearch issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.