Carbon nanomaterials market is expected to witness substantial growth over the forecast period on account of its widespread applications in numerous end-use industries including healthcare, automotive, construction and packaging. Extensive use of carbon nanotubes in electronics and automotive industry as sensors and semiconductors is expected to fuel demand over the next six years. Growing demand for high strength and durable structural materials coupled with emerging application scope in aircraft, nanomedicines, consumer goods and water treatment industry is further expected to augment market growth. Rapid urbanization and growing investment in construction and medical industry particularly in emerging economies of China and India are likely to propel demand for carbon nanomaterials over the forecast period. However, high processing cost coupled with stringent environmental regulations is expected to have restrain carbon nonmaterial market.
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Asia Pacific is expected to be the fastest growing market due to rapid industrialization coupled with increasing investments in medical and automotive industry. North America and Europe are anticipated to augment growth over the forecast period on account of well established medical devices industry in Germany, France and U.S. Dupont, a chemical company, engaged in the production of carbon nanomaterials under its high performance material business division, have widespread applications in construction and electronics industry. Nanocomp Technologies, a manufacturer of performance materials entered into a partnership with Dupont in 2012 to expand its manufacturing capacity of CNT based products. In 2013, Bayer MaterialScience has stopped its production of carbon based nanomaterials to focus on its core business development. Arkema, a leading manufacturer of carbon nanomaterials, has commenced operations in its CNT production plant in 2011 with an annual capacity of 400 tons at its Mont site in France.
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