According to IDTechX, these wonder materials are posied for huge growth
After decades of development, nanocarbon “wonder materials” are poised for significant growth over the next decade, says one IDTechX analyst
Thanks to their promising mechanical and electrical properties, carbon nanomaterials have the potential to address many global challenges within the transportation sector. From stronger and lighter vehicle bodies to superior braking applications, and from fuel cells and electric vehicle (EV) batteries to nanotube pressure gauges, carbon nanotubes (CNTs) could potentially revolutionise a wide array of applications in the transport space.
Despite decades of hype and development, though, the nanocarbon market has not seen a huge amount of commercial success thus far. According to Dr Conor O’Brien, Senior Technology Analyst at IDTechX, this could all be about to change. In a recent report from the market intelligence firm titled ‘Carbon Nanotubes 2023-2033: Market Technology & Players’, O’Brien says the market is poised for significant growth over the next decade.
“After years of promise, we are witnessing the first major market adoption of nanocarbons,” he says in the report. “Although known for several decades, with a large amount of commercial engagement, and some extraordinary properties, CNTs have largely been kept to specific applications and relatively low market sales until now. IDTechX forecast strong growth for the CNT market over the coming decade, driven primarily by the role of CNTs in energy storage.”
TYPES OF NANOCARBONS
CNTs come in a variety of shapes and sizes, ranging from single-walled CNTs of less than 2nm, to multi-walled CNTs up to 40nm, and nanofibers of more than 40nm. In length, they also vary from 1um to hundreds of microns, each offering different properties but in general a larger aspect ration is desired.
In the report, O’Brien says, “The most common type of MWCNTs are with lengths between 10-50um. These are often manufactured using a C-CVD process. They are the cheapest. SWCNTs have much higher performance but are expensive to produce and difficult to disperse. CNTs also come in a variety of purity levels ranging from 25% to 99.1%. The higher levels often need multiple purification steps, adding to cost.”
KEY MARKETS
According to the report, energy storage is the key market for MWCNTs, particularly lithium-ion batteries for EVs. This is predominantly for use in the cathode although, as O’Brien points out, there is some “interesting work” ongoing regarding next-generation anodes as well.
“MWCNTs are making significant inroads as cathode materials in lithium-ion batteries, offering enhanced conductive pathways and anchorage points,” he explains in the report. “These advancements are driven by key features such as higher performance at increased C-rates, longer lifetime, greater energy density via thicker electrodes and alternative cathodes, and improved temperature stability.”
It’s not just EVs that are driving the CNT boom either; electrification across land sea and air is rapidly increasing, with ‘significant growth anticipated over the next decade’, the report states.
“The major applications for graphene and CNTs are diverse, reflecting the multifunctional nature of these materials,” O’Brien says. “Energy storage, especially for CNTs, leads the way, while both materials are set to achieve success in composites, sensors and coatings.”
With IDTechX predicting the market for MWCNTs in lithium-ion batteries to exceed $1 billion by 2035, it’s clear that nanomaterials will have a key role to play within the electrification of the transport sector in years to come as the industry looks to achieve its net-zero goals.
