Carbon nanotubes (CNT) are nano-sized tubes made up of carbon atoms. Their characteristics depend on how carbon atoms are aligned to each other in a sheet. It is gaining prominence in various industries. It is 100X times stronger and 6 times. Research is underway to explore its market potential in the automotive and electronics industries. It is a multi-billion dollar investment.
Owing to its attractive features, it is penetrating various end-use markets. The growing demand for nanotechnology is the key to the growing demand for energy, healthcare, environment, aerospace and electronics sector. Analysis of the growing market of carbon nanotubes (CNT), there has been a tremendous rise in CNT patents over the last 5 years. Researchers have developed sensors using carbon nanotubes, which can be injected into the blood to know the concentration level of nitric oxide. It has potential in assessing critical illnesses like oral cancer. In oil and energy sectors, it can play an important role in cleaning oil spills. Besides the oil sector, it finds its usefulness in water purification plants. Compared to other alternatives, it is a cost-effective and reliable platform.
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Globally, North America and Europe are the largest markets for the companies operating in nanotechnology. Together, they account for almost 70% of market share. Though the market for North America is a declining phase after the recent economic downturn, it is expected to bounce back with potential investment in various business sectors. With a market share of 25%, APAC is the third largest and fastest growing regional market for carbon nanotubes. Growing industrialization in China and India are the other major driving factors for carbon nanotubes.
Electronics and transportation are the key components of the APAC region. China, is a global leader in the electronics market, wants a massive investment in carbon nanotubes in the future. India, on the other hand, is the market hub for automation industries. It contributes almost 22% of India’s manufacturing sector. With 100% FDI inflow in the automation sector in India, the market promotes the business in carbon nanotubes. China’s electronics industry has Witnessed a massive double digit growth since 2001. Though Chinese nanotube markets pace has been reduced by the 21 st century economic downturn, it soon regained its growth momentum by 2009. With carbon nanotubes, it is expected did China will soon repeat Its double digit growth in the next few years. In the field of nanotechnology for energy sectors, the CAGR growth of 49.2% (2014) The aged population in India and China is the other key factor that is driving the healthcare market in the APAC region. Carbon nanotubes with its cost effective and reliable solutions is set to penetrate the healthcare market in APAC in the coming years.
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Nanocyl SA, Arkema SA (France), CNano Technology Ltd. (USA), Bayer MaterialScience AG, Showa Denko KK, and Hyperion Catalysis International Inc. (US) are some of the leading companies in the carbon nanotube market. With rising popularity of carbon nanotube technology,
Going through the potential benefits of carbon nanotubes, there is almost no doubt that this is the promising technology of the future. CAGR over the next 6 years. Though the biomedical and automotive industries will be the leading end-use sectors for carbon nanotubes, automotive industries will see a massive surge in investment in coming days. Developed economies, ie the USA, Japan and the European nations, are investing lump sums in R & D to expand the commercial horizons of carbon nanotubes.
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