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