Global carbon nanotube market value 2020 & 2028

The worldwide market for carbon nanotubes was valued at around 5.7 billion U.S. dollars in 2020, but this figure is forecast to increase by almost 15 billion U.S. dollars to approximately 20.3 billion U.S. dollars in 2028.

What are carbon nanotubes?

Carbon nanotubes are hollow cylinders made from rolled sheets of graphene; they can be single-walled, double-walled, or multi-walled. The use of carbon nanotubes in the production of electronics is one reason for the predicted growth of the market. The two-dimensional hexagonal structure of graphene offers very little resistance to the movement of electrons, meaning the material conducts electricity very efficiently. Forecast figures show the global market value of graphene electronics could increase to around 800 million U.S. dollars in 2024.

Could graphene soon replace silicon?

The Asia Pacific region is projected to make the largest contribution towards the worldwide market value of carbon nanotubes over the coming years. This particular region is also a leading market in the manufacturing of semiconductors and is expected to generate around 300 billion U.S. dollars from the industry in 2019. Carbon nanotubes are gaining appeal within the semiconductor industry because they are superior electrical conductors compared to the existing silicon chips. There remain obstacles to overcome, but manufacturing a computer chip out of carbon nanotubes could greatly enhance the overall performance of electronic devices.