CARBON NANOTUBES MARKET ANALYSIS

Regional Analysis

Financial backing from government bodies to boost market growth in Asia Pacific

Europe is expected to hold the largest market share, owing to high incidence of cancer in the region. According to the research published by National Centre of Biotechnology Information in Europe in 2012, 29,300 cancer cases were registered every year and carbon nanotubes proved an effective diagnostics in curing the major types of cancer. Increasing government investments in research and development in the field of nanotechnology integrated with healthcare is driving growth of the carbon nanotubes market. According to the news published in Electronic Engineering Times in 2017, Lux forecast states that, China will increase its global capacity for nanotubes by 30-50%, adding 500 tons every year. The reason for rapid expansion in China is the government funding for nanomaterials production, which is around US$ 2 billion. This is expected to position Asia Pacific as a major powerhouse in the global carbon nanotube market. Growth is further expected to be augmented by increasing demand for CNTs in applications such as tumor targeting, drug delivery, chemotherapy, and radiation therapy in the region.