Technavio market research analysts forecast the global carbon nanotubes market to grow at a CAGR of more than 20% during the period 2018-2022, according to their latest report.

This market research report segments the global carbon nanotubes market into the following applications (chemicals, plastics, and composites, electronics; and energy, battery, and capacitors), products (single-walled carbon nanotubes and multi-walled carbon nanotubes) and key regions (the Americas, APAC, and EMEA).

In this report, Technavio analysts highlight the miniaturization of semiconductor components as a key factor contributing to the growth of the global carbon nanotubes market:

Miniaturization of semiconductor components

The focus on the production of miniaturized components is one of the biggest drivers for the market. There has been strong growth in miniaturized components as they are used in many consumer electronic devices. Miniaturization continues to be the key trend that is driving the electronics industry. Components are designed to nano-sized physical dimensions, which enables more number of surface mount devices (SMDs) to be placed on a printed circuit board (PCB). Therefore, the bulkiness of a PCB is reduced with more functionalities being added. Several components can be placed on a PCB with the help of miniaturization. Miniaturization can be seen in various devices, from mobile phones, computers, car engines, and even phone adapters. However, with the decrease in feature size, the dimensional tolerance and diversity must be maintained. This will impact the materials that are required for fabrication purposes.

According to a senior analyst at Technavio for semiconductor equipment, “For example, PCBs are required to support micro-components and will have to have the ability to support many components without breakage. An optimal design on the PCB needs to be stenciled, and placement of the component is done as per the stencil. The need to pack a higher component density in a PCB assembly is being fueled by the increasing demand for miniaturization of components.”

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Global carbon nanotubes market segmentation

Of the three major applications, the chemicals, plastics, and composites segment held the largest market share in 2017, accounting for nearly 56% of the global carbon nanotubes market.

Of the two major products, the multi-walled carbon nanotubes segment held the largest market share in 2017, accounting for nearly 88% of the market. The market share for this product is expected to decrease nearly 13% by 2022. The fastest growing product is single-walled carbon nanotubes, which will account for nearly 25% of the total market share by 2022.

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