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Asia Pacific Carbon Nanotubes Market Forecast 2019-2028

The Asia Pacific carbon nanotubes market is expected to project a CAGR of 15.47% during the forecast period, 2019-2028. The rising penetration of CNTs in electronics & electrical, energy, and automotive industries, is one of the vital factors influencing the growth of the market in the region.

The Asia Pacific carbon nanotubes market growth is assessed across India, Japan, China, Indonesia, Thailand, South Korea, Australia & New Zealand, Vietnam, and the rest of Asia Pacific. Japan has the third-largest electronic products industry in the world. This is one of the major factors fueling the demand for semiconductors in the country. The semiconductor market in the country is highly valued, with around 30 semiconductor fab industries engaged in the manufacturing of several semiconductor chips. CNTs are finding increasing applications in semiconductors. The adoption of electric vehicles in the country is estimated to positively impact the demand for lithium-ion batteries. With further developments anticipated in electric vehicle production, it is estimated that there will be ample market growth opportunities for lithium-ion batteries, which will boost the demand for CNTs.
In Indonesia, the automotive industry plays a significant role in the economic growth of the country. The country was the fifth-largest passenger vehicle producer in Asia, and the seventeenth largest in the world in 2017, producing 0.98 million vehicles. The International Renewable Energy Agency (IRENA) estimates the country's installed solar power capacity to project rapid growth by 2030, backed by PLN and government initiatives. Such aspects are expected to increase the demand for carbon nanotubes.

Some of the eminent companies in the market include, Jiangsu Cnano Technology Co Ltd, Kumho Petrochemical Co Ltd, Hanwha Corporation, Hyperion Catalysis International Inc, Meijo Nano Carbon Co Ltd, etc.

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Asia Pacific Carbon Nanotubes Market Forecast 2019-2028
Published By :Inkwood Research
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