TechNavio, a tech-focused research firm, has published a new report on the Global Carbon Nanotubes (CNTs) Market, which is expected to grow at a CAGR of 14.84 percent from 2014-2019.
According to the latest report by TechNavio, some research centers have developed carbon nanotubes that can be utilized in solar cells as an alternative to silicon.
"The use of carbon nanotubes instead of silicon will result in increased conversion efficiency of modern solar cells," says Faisal Ghaus, Vice President of TechNavio.
CNTs also have the potential to replace fragile and expensive indium tin-coated films, which are currently being used in applications like liquid crystal displays, solar cells, touch screens and organic light-emitting diodes.
Additionally, the report highlights increased production capacity as a strong driver of market growth. With the increased demand for carbon nanotubes in different applications like consumer goods, electronics, energy and healthcare, many vendors are investing heavily in new production facilities to capitalize on this surge.
"Vendors are increasingly adopting new production technologies, which can help them diversify their production capabilities from traditional markets to new, emerging markets," says Ghaus.
