Market Highlights
Among several nanotechnologies, CNT remains the hotbed of the industry and has witnessed a dramatic evolution. The emergence of new players paired with a drastic fall in the prices of CNTs is taking the market to the next level. CNT addresses the limitations of carbon black; hence, is among the fastest-growing electrically conductive carbon sub-types. For example, to achieve a volume resistivity of 104 Ohm cm in a polymer, we do not need to add 10% (as in the case of carbon black) of CNTs but only 0.05%, which is 1,000 times less than required when using carbon black. CNT offers a range of advantages such as:
- CNTs have a high thermal conductivity
- CNTs have high electrical conductivity
- CNTs aspect ratio
- CNTs are very elastic ~18% elongation to failure
- CNTs have a very high tensile strength
- CNTs are highly flexible — can be bent considerably without damage
- CNTs have a low thermal expansion coefficient
- CNTs are good electron field emitters
The pandemic could not shake the demand for conductive CNT additives market in 2020, the market experienced growth in terms of both value and volume with no decline whatsoever. Overall, the conductive CNT additives market is likely to grow at a magnificent, double-digit CAGR of 25.5%, in the long run, to reach US$ 2.4 Billion in 2028.
Recent Product Developments: CNTs within nanocomposite ink for additive manufacturing is an innovative development that aims to provide a higher functionality of this already advanced intricate printing method.
Market Segments' Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Material-Type Analysis
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MWCNT and SWCNT
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MWCNT holds >90% share of the market in terms of material type.
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Conductivity-Type Analysis
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Thermal and Electrical
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In terms of conductivity type, electrical conductivity remained the dominant field in CNT additives.
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Application-Type Analysis
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Energy Storage, Conductive Composites, and Others
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In terms of applications, energy storage remained the biggest demand generator for conductive CNT additives.
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End-Use Industry Type Analysis
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Automotive, Aerospace & Defense, Electrical & Electronics, Industrial, Consumer Goods, and Others
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In terms of end-use industry types, the automotive industry consumed the largest amount of conductive CNT additives.
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Regional Analysis
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North America, Europe, Asia-Pacific, and Rest of the World
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Asia-Pacific remained the largest market for conductive CNT additives.
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Based on the material type, the conductive CNT additives market is segmented into MWCNT and SWCNT. In terms of both value and volume, MWCNT additives are expected to remain the larger segment of the market. Conductivity in multi-walled nanotubes (MWCNTs) is somewhat intricate. The conductivity of some types of “armchair”-structured CNTs appear to be superior to other metallic CNTs. Moreover, interwall reactions within MWCNTs have been found to non-uniformly redistribute the current over individual tubes. However, the current does not change across different parts of metallic single-walled CNTs. The MWCNT market is booming, driven primarily by its role in lithium-ion batteries. MWCNTs are produced in the order of thousands of tonnes per annum, soon to be 10s of thousands, whereas SWNTs are still <100 tonnes; SWCNTs are >1,000 US$/kg as opposed to <40 US$/kg for MWCNTs; MWCNTs are seeing major market entrants and capacity expansions, whereas the SWCNT market looks much like it did years ago.
Based on the application type, the market is segmented into energy storage, conductive composites, and others. In terms of both value and volume, the energy storage segment is likely to remain in the limelight during the forecast period. A majority of CNTs are used for li-ion battery applications. The product is very easy to be dispersed in the li-ion battery electrode, and the CNTs network can ensure the li-ion battery has the best cycle performance.
In terms of regions, Asia-Pacific is expected to remain the largest market for conductive CNT additives during the forecast period. Key players like Showa Denko or Resonac Holdings (Japan) and CNano Tech (China) maintain huge capacities for CNT production in countries such as China, Japan, and Korea. North America and Europe are also likely to create sizeable opportunities in the coming five years, driven by an expected rebound in vehicle production coupled with a paradigm shift from ICE to electric vehicles.
Key Players
The market is highly consolidated with a handful of major players holding the lion’s share of the market. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. In 2023, Showa Denko K.K. and Showa Denko Materials merged to form Resonac Holdings Corp. and Resonac Holdings Corp.
The following are the key players in the Conductive CNT additives market.
- LG Chem Ltd.
- Jiangsu Cnano Technology
- Cabot Corporation
- Resonac Holdings Corporation
- OcSiAl
- Nanocyl S.A.
- Bayer Material Science
- Arkema S.A.
- Chasm Advanced Materials, Inc.
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s conductive CNT additives market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The conductive CNT additives market is segmented into the following categories.
Conductive CNT Additives Market, by Material Type
- MWCNT (Trend and Forecast)
- SWCNT (Trend and Forecast)
Conductive CNT Additives Market, by Conductivity Type
- Thermal (Trend and Forecast)
- Electrical (Trend and Forecast)
Conductive CNT Additives Market, by Application Type
- Energy Storage (Trend and Forecast)
- Conductive Composites (Trend and Forecast)
- Others (Trend and Forecast)
Conductive CNT Additives Market, by End-Use Industry Type
- Automotive (Trend and Forecast)
- Electrical & Electronics (Trend and Forecast)
- Industrial (Trend and Forecast)
- Consumer Goods (Trend and Forecast)
- Others (Trend and Forecast)
Conductive CNT Additives Market, by Region
- North America (Trend and Forecast)
- Europe (Trend and Forecast)
- Asia-Pacific (Trend and Forecast)
- Rest of the World (Trend and Forecast)
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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