Carbon nanotubes (CNT) are nano-sized tubes made up of carbon atoms. Their properties depend on how carbon atoms are aligned to each other in a sheet. It is gaining prominence in various industry verticals primarily due to its varied applications as well as its durability. It is 100X times stronger and 6 X times lighter when compared to steel. Research is underway to explore its market potential in the auto mobile and electronics industries. It is a multi-billion dollar investment in technology when compared to other synthesized nanomaterial.
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Owing to its attractive features, it is penetrating various end use markets. The growing demand for nanotechnology is set to cater to the growing demands of 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.In the healthcare domain, it plays an important role in body implants, medical devices, and dental filling materials. 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 illnesseslike oral cancer. In oil and energy sectors, it can play an important role in cleaning of 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.
Globally, North America and Europe are the biggest markets for the companies operating in nanotechnology. Together, they account for almost 70% of market share. Though the market for North America is seeing 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 third biggest and fastest growing...