Global Carbon Nanotubes Market to Exceed $1.9 Billion by 2010, According to New Report by Global Industry Analysts, Inc.
Demand for carbon nanotubes is increasing rapidly in electrical, mechanical and health & medical applications due to their thermal, electrical conductive and other properties. The global carbon nanotubes market is projected to exceed US$1.9 billion by 2010, at a CAGR of more than 80% during the analysis period.
San Jose, CA (PRWEB) July 23, 2007 -- Carbon nanotubes play a significant role in the nascent nanotechnology industry. Development of cost effective production methods and quality improvement are factors that are expected to drive carbon nanotubes market over the coming years. Rise in demand and production, and easy accessibility of carbon nanotubes would lead to extensive use of carbon nanotubes in a wide variety of applications. Nanotubes market, which was growing at a moderate pace till 2004-2005, is expected to expand at a skyrocketing pace in the coming years.
United States currently dominates the world market in terms of revenues, while European carbon nanotubes market is projected to be the fastest growing market during the analysis period at a CAGR of over 100%, as stated by Global Industry Analysts, Inc. Together, United States and Asia-Pacific account for over 75% of the global carbon nanotubes market. Asia-Pacific region is poised to lead the regional market in terms of revenues and reach US$2.5 billion by the year 2012.
Development and use of cost-effective production methods are expected to bolster worldwide carbon nanotubes market. Various end-use sectors such as electronics, field emission devices, batteries, research institutions, composites, and others are enabling carbon nanotubes to grow rapidly, over the last couple of years. However, high cost is one of the major issues in the carbon nanotubes industry. Expansion of manufacturing facilities by companies is expected to fuel the production of carbon nanotubes, while reducing prices
Multi walled carbon nanotubes market was estimated at US$290 million for 2006. Revenues generated from multi walled carbon nanotubes are high due to their simple production process and low cost compared to single walled carbon nanotubes. However, in the coming years, single walled carbon nanotubes market is projected to overtake multi walled carbon nanotubes market and projected to cross US$5 billion by the year 2012, at a very high CAGR of 200%.
The report titled "Carbon Nanotubes: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides specific insights on key issues and trends, market drivers, and industry-related strategic developments and product introductions. The study also analyzes market data and analytics in value sales for regions such as United States, Europe, Asia-Pacific, and Rest of World by the following product segments - Single Walled Carbon Nanotube and Multi Walled Carbon Nanotube. Also, annual revenue estimates and projections are presented for global carbon nanotubes market by end-use sectors - R&D Institutes/Laboratories, Electronics, Field Emission Devices, Composites, and Fuel Cells & Batteries.
Key players dominating the global carbon nanotubes market include Catalytic Materials, Hyperion Catalysis International, ILJIN Nanotech, Nanocyl, Nanoledge, Raymor Industries, Rosseter Holdings, Shenzhen Nanotech Port, SouthWest NanoTechnologies, Sun Nanotech, and Unidym.
For more details about this research report, please visit http://www.strategyr.com/MCP-1507.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Web Site www.StrategyR.com
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