![]() Additionally, mobility restrictions imposed during the lockdown resulted in logistical challenges, making it difficult to procure raw materials and transport finished products. Due to pandemic restrictions, manufacturing plants were either functioning at reduced capacity or had to be temporarily shut down, causing supply chain disruption. Both countries are among the major manufacturers and exporters of carbon nanotubes. were among the worst-affected countries during the initial wave of the COVID-19 outbreak. The COVID-19 pandemic has negatively impacted every region, every business, and every facet of life. Rising commercialization and ramp-up of the installed capacities with advancement in technology to improve the overall product quality and develop more advanced products are the key trends driving the carbon nanotubes market growth.ĬOVID-19 Outbreak to Temporarily Shutdown the Manufacturing Plants Conductive CNTs are used in brushes for commercial electric motors as they improve thermal and electrical conductivity as they stretch through the plastic matrix of the brush. They act as antennas for electromagnetic devices and radios. Rapid demand from integrated circuits, lithium batteries, fuel cells, drug delivery, solar PV cells, hydrogen storage, and field emission displays. Based on our analysis, the global market exhibited a decline of 2.2% in 2020 compared to the average year-on-year growth during 2017-2019.Ĭarbon nanotubes are used in applications that require high strength, electrical conductivity, durability, lightweight properties, and thermal conductivity compared to other conventional materials. The impact of COVID-19 has been unprecedented and staggering, with CNT witnessing a negative demand shock across all regions amid the pandemic. The sudden rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over. The global carbon nanotubes market size was USD 4.94 billion in 2020 and is projected to grow from USD 5.32 billion in 2021 to USD 10.52 billion in 2028 at a CAGR of 10.2% during the 2021-2028 period.
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