BOSTON — According to a report by Lux Research, the carbon nanotube market will grow to 560 million in 2025, driven by faster development of commercial applications, while the market for graphene will lag at $305 million, on account of slower adoption in energy storage.
The success of carbon nanotubes (CNTs) comes mainly from the use of multiwalled nanotubes as a superior replacement for carbon black, rather than as a super-strong material or for ultrafast electronics.
“The CNT market can now support a few pure-play materials suppliers, but the overall state of the market remains oversupplied,” said Anthony Schiavo, an analyst from Lux. “Developers finding ways to ease adoption with more convenient form factors and intermediates has been key. The less a product resembles a nanomaterial, the more likely it is to succeed.”
Composites, Lux says, are key for graphene as new applications are tested. Composite applications will be the largest user of graphene through 2025, as the market grows to 7,500 metric tons amid a slowdown in energy storage. Emerging areas of growth include sensors and water, where companies such as G2O Water have used graphene derivatives.
New form factors such as sheet, tape and yarn are leading to easier product integration, raising chances of success. CNT yarns and sheets producer Nanocomp Technologies was the sole company to be ranked as “dominant” on the Lux Innovation Grid. N12 Technologies, which develops vertically aligned CNT sheets, was rated “high potential.”
Lux provides research and strategic advice for emerging technologies.
Visit www.luxresearchinc.com for more information.