Carbon Nanotubes Market Share

APAC Market Statistics

The carbon nanotubes market share in Asia Pacific is projected cross 32% by 2037. Rising government initiatives to reduce carbon emission is likely to drive the market growth.

For instance, fuel efficiency standards have been established by the Ministry of Industry and Information Technology (MIIT) to alleviate fuel supply and demand imbalances, reduce pollutants, and improve the atmospheric environment. CNT is used as a support material in a fuel conversion process in a fuel cell or catalytic converters.

North American Market Forecast

The North American carbon nanotubes market will be the second largest, registering a share of more than 26% by the end of 2037. The expansion of the industry is ascribed to rising investment in various polymers upcycling and research. Carbon nanotubes are also produced from plastic waste which also enhances the economic feasibility of the waste management process.

Furthermore, the plastic derived CNT is used as a strengthening material in various industries. The United States Department of Energy (DOE) stated that it will invest USD 25 million in basic research to create the framework for technology that finds uses for plastic waste.