Global Single-walled Carbon Nanotube Market: Key Highlights
- The global single-walled carbon nanotube market was valued at ~US$ 130 Mn in 2018, and is anticipated to expand at a CAGR of ~52%.
- Increase in the demand for single-walled carbon nanotubes as an EMI-shielding material is one of the major factors driving the global single-walled carbon nanotube market.
- Asia Pacific accounted for a significant share, in terms of consumption, of the single-walled carbon nanotube market.
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Single-walled Carbon Nanotube Market: Key Drivers
- Increase in the demand for EMI-shielding materials for use in applications such as personal computers and mobile communication housings, GPS devices, aerospace components, etc., is likely to enhance the demand for single-walled carbon nanotubes.
- Composites made using single-walled carbon nanotubes functioning as a filler and a suitable polymer, as matrix can effectively prevent the passage of electromagnetic radiation into electronic devices and protect them from damage.
- The EMI shielding of an electronic device reduces the coupling of radio waves, electromagnetic, and electrostatic fields. Common applications where single-walled carbon nanotubes are used as EMI-shielding materials include computing, telecommunications, automotive, consumer electronics, aerospace & defense, medical, etc.
- Technological advancements in the medical and aerospace & defense sectors are anticipated to drive the demand for single-walled carbon nanotubes as EMI-shield materials.
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- The emergence of battery storage systems such as lead acid, lithium-ion, sodium ion, and flow batteries has fueled the expansion of the SWCNT market. Single-walled carbon nanotubes are preferred in battery storage applications, as they offer superior conductivity at ultra-low concentrations, thus allowing the amount of active material in the battery electrode to be at a higher concentration.
- Most advanced batteries face the issue of dendrite formation. However, with the introduction of single-walled carbon nanotubes, the risk of dendrite formation can be reduced.
- The rising demand for energy in countries such as China and India is anticipated to expand the energy storage industry, and consequently, the demand for single-walled carbon nanotubes for energy storage applications.
- Renewable energy policies initiated by various governments and advancements in electric vehicle production in emerging economies are likely to enhance the demand for single-walled carbon nanotubes for energy storage applications.
Use of Single-walled Carbon Nanotubes in Automotive Industry
- Single-walled carbon nanotubes, when used in automotive applications, enhance fuel efficiency, owing to their low weight. In the automotive industry, single-walled carbon nanotubes find application in wear-resistant coatings, thermal barrier coatings, dirt-repellent coatings, scratch-resistant paint, displays or LEDs, nano-adhesives, biocide coatings, batteries & fuel cells, and anti-reflective coatings.
- Superior electrical, mechanical, and thermal properties of SWCNTs make them ideal for use in electronic devices. They can be easily dispersed in plastic materials so as to improve their mechanical properties in such a way that substantial weight reduction can be achieved to have greater fuel efficiency.
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Asia Pacific to Dominate Global Single-walled Carbon Nanotube Market
- Increased government spending on nanomaterials is likely to enhance the production of single-walled carbon nanotubes in the region. Moreover, rapid urbanization and technological advancements are estimated to create attractive opportunities for the single-walled carbon nanotube market in Asia Pacific during the forecast period.
- Key manufacturers such as Zeon Nanotechnology Ltd, Meijo Nanocarbon Co., Ltd, etc., are based in the Asia Pacific region.
Moderate to High Degree of Competition among Established Players
- The global single-walled carbon nanotube market is highly consolidated, with single manufacturer OCSiAl accounting for more than 90% of the global SWCNT market. The company has adopted marketing strategies such as mergers, acquisitions, partnerships, and product launches in order to maintain its leading market position.
- The market penetration of single-walled carbon nanotubes is considered low, and several manufacturers are striving to produce single-walled carbon nanotubes at low cost. Moreover, manufacturers are focusing on producing high quality products. In November 2015, Zeon completed the construction of its carbon nanotubes production plant in Tokuyama, Japan.
- Key players profiled in the report on the global single-walled carbon nanotube market include OCSiAl, Zeon Nanotechnology Co., Ltd, Thomas Swan & Co., Ltd, Meijo Nanocarbon Co, Ltd, etc.
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