NEWARK, Del, July 17, 2023 (GLOBE NEWSWIRE) — The Carbon Nanotubes Market size is anticipated to surpass US$ 970.9 million in 2023 and is predicted to attain a valuation of US$ 2,428.1 million by 2033. The carbon nanotubes market share is projected to thrive at a CAGR of 9.6% from 2023 to 2033.
The extraordinary qualities of carbon nanotubes include great strength, electrical conductivity, thermal conductivity, and flexibility. They are ideal for various applications due to their characteristics in several sectors, such as electronics, aviation, energy, and healthcare. Also, the demand for these materials rises as businesses continue to study and use the possibilities of carbon nanotubes.
Several industries use carbon nanotubes. They are employed in the manufacture of high-performance transistors, conductive films, and flexible displays in the electronics sector. They improve the strength and lighten the materials used to make airplane components in the aerospace industry.
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Carbon nanotubes are used in fuel cells and lithium-ion batteries in the energy sector to increase the effectiveness of energy conversion and storage. Carbon nanotubes also showed potential in the medical field for applications in tissue engineering, medication delivery, and biosensing. The market is growing due to expanding use of carbon nanotubes in these sectors.
Private equity companies, large enterprises, and venture capitalists have made significant investments in the carbon nanotubes sector. This increase in finances has given businesses the means to increase production, advance product development, and delve into novel uses.
Partnerships among academic institutions, research organizations, and business entities have allowed information exchange, technology transfer, and the creation of innovative solutions,…