Carbon Nanofibers Market Research Report Information by Diameter (5-100 nm, 101-300 nm, 301-500 nm), by Application (Catalyst Support, Electrical Conductivity, Concrete, Lubricants, Inks and Coatings, Tires, Others), by End-Use Industry (Aerospace & Defence, Automotive, Electronics, Construction, Textile, Paints & Coatings, Agriculture, Others), and Region (North America, Europe, Asia-Pacific, South America, Middle East & Africa) - Forecast till 2035

Global Carbon Nanofibers Market Overview

The Carbon Nanofibers Market was valued at USD 981.32 Million in 2024. The Carbon Nanofibers Market industry is projected to grow from USD 1,072.98 Million in 2025 to USD 2,911.08 Million by 2035, exhibiting a compound annual growth rate (CAGR) of 10.70% during the forecast period (2025-2035).

The rising demand from the electronics and semiconductor industry and increasing demand for lightweight and high-performance materials in aerospace & defense industry are driving the growth of the Carbon Nanofibers Market.

As per the Analyst at MRFR, the electronics and semiconductor industry are experiencing a significant surge in demand for carbon nanofibers (CNFs) due to their exceptional properties, such as high electrical conductivity, flexibility, and mechanical strength. These characteristics make CNFs ideal for a wide range of applications, including batteries, capacitors, transistors, and various components of flexible and stretchable electronics. As industry moves towards miniaturization and the development of more advanced and compact devices, the integration of CNFs becomes increasingly critical. The revenue of the consumer electronics market worldwide is projected to grow from $955.75 Million in 2023 to $1,096.29 Million by 2028, according to Statista. 

This growth in the consumer electronics market, driven by the increasing demand for smartphones, laptops, wearables, and other smart devices, is a significant driver for the carbon nanofiber market. Manufacturers in the electronics and semiconductor industry are actively exploring the use of CNFs to enhance the performance and capabilities of their products. The high electrical conductivity of CNFs allows for more efficient signal transmission and improved power management in electronic devices. Additionally, the flexibility and mechanical strength of CNFs enable the development of more durable and resilient components, which is crucial for the growing market of flexible and stretchable electronics.

FIGURE 1: CARBON NANOFIBERS MARKET VALUE (2019-2035) USD MILLION

 Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Carbon Nanofibers Market Opportunity

TECHNOLOGICAL ADVANCEMENTS IN PRODUCTION PROCESS

The field of carbon nanofibers (CNFs) has witnessed significant technological advancements due to their exceptional chemical properties, mechanical strength, and electrical conductivity. These characteristics make CNFs highly desirable for various industrial applications. Currently, the primary methods for fabricating CNFs include catalytic and electrospinning techniques, both of which involve a two-step process of stabilizing and carbonizing polyacrylonitrile (PAN) nanofibers. 

Despite these conventional methods being well-established, the industrial and medical sectors face limitations with these materials, primarily due to their high costs and lack of flexibility in modifying surface and chemical properties for specific applications. To address these challenges, CNFs are being explored for their multifunctional capabilities. The unique electronic structure of carbon allows it to form diverse covalent bonds, leading to the creation of CNFs, which are one-dimensional nanomaterials with more complex structures than carbon nanotubes (CNTs). These fibers exhibit properties such as selective adsorption, polymer reinforcement, electrochemical catalysis, and hydrogen storage, making them valuable across various industries.

The structural arrangement of graphene layers within CNFs significantly influences their mechanical properties. Typically, CNFs are composed of sp2-based discontinuous linear filaments with aspect ratios exceeding 100:1. Unlike the uniformly aligned graphitic planes in CNTs, the graphene layers in CNFs are often misaligned along the fiber axis. This misalignment results in different CNF shapes, such as platelet, tubular, ribbon, and fishbone, determined by the angle of the graphene layers. The geometric configuration of the metallic nanoparticle catalyst and the carbon feedstock used during synthesis play critical roles in determining these shapes. Techniques such as electrospinning and vapor-grown carbon nanofibers (VGCNFs) create cylindrical nanostructures with graphene layers arranged in various configurations, including cups, stacked cones, or plates. The catalytic synthesis of CNFs involves the decomposition of hydrocarbons on dual metal catalyst surfaces, promoting carbon nucleation and growth. This method leverages the catalytic properties of metals like Co, Fe, and Ni to produce CNFs with specific structural characteristics.

Carbon Nanofibers Market Segment Insights

Carbon Nanofibers System by Diameter Insights

Based on Diameter, this segment includes 5-100 nm, 101-300 nm, 301-500 nm. The 101-300 nm segment dominated the global market in 2024, while it is projected to be the fastest–growing segment during the forecast period. Carbon nanofibers in the range of 101-300 nm display unique properties that make them suitable for a wide range of applications. At this size, carbon nanofibers exhibit excellent electrical conductivity, making them ideal for use in conductive films and coatings. They can be incorporated into electronic devices, such as sensors and transistors, facilitating the development of more efficient and compact devices. In addition to their electrical properties, carbon nanofibers in 101-300 nm diameter range possess exceptional thermal conductivity. 

This makes them valuable for heat management in electronic devices, as they can efficiently dissipate heat and prevent overheating. Their incorporation into thermal interface materials can significantly improve the cooling efficiency of electronic components. Additionally, the moderate diameter allows for easier handling and processing compared to their thinner counterparts, making them suitable for bulk production techniques. Their larger size still maintains significant surface area, which is beneficial for applications in filtration and adsorption, where they can efficiently trap contaminants or catalyze reactions.

FIGURE 2: CARBON NANOFIBERS MARKET SHARE BY DIAMETER 2024 AND 2035 (USD MILLION)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Carbon Nanofibers System by Application Insights

Based on Application, this segment includes Catalyst Support, Electrical Conductivity, Concrete, Lubricants, Inks and Coatings, Tires, Others. The Electrical Conductivity segment dominated the global market in 2024, while it is projected to be the fastest–growing segment during the forecast period. Carbon nanofibers exhibit exceptional electrical conductivity, making them valuable in electronics, energy storage, and conductive composites. Their high aspect ratio and excellent electron mobility enable the creation of conductive pathways in composites and electronic devices. 

CNFs are used to enhance the conductivity of polymers, creating lightweight and flexible conductive materials for wearable electronics and sensors. They are used as conductive additives in lithium-ion batteries and super capacitors, enhancing their performance and energy storage capacity. CNFs also find applications in printed electronics, flexible displays, and electronic devices, where their conductivity enables efficient charge transport and functionality.

Carbon Nanofibers System by End-Use Industry Insights

Based on the End-Use Industry, this segment includes Aerospace & Defence, Automotive, Electronics, Construction, Textile, Paints & Coatings, Agriculture, Others. The Electronics segment dominated the global market in 2024, while it is projected to be the fastest–growing segment during the forecast period. Carbon nanofibers play a significant role in the electronics industry, where their high electrical conductivity and thermal stability are highly valued. CNFs are used in the development of high-performance batteries and super capacitors, enhancing energy storage and delivery systems crucial for portable electronics and electric vehicles. 

Their high surface area and conductivity improve the efficiency and lifespan of these energy storage devices. In electronic circuits and components, CNFs provide superior thermal conductivity, dissipating heat effectively and ensuring the reliability and longevity of devices. CNFs are also integrated into flexible electronics and wearable devices, offering durability and flexibility without compromising performance. Additionally, their small size allows for the development of miniaturized electronic devices and improved heat management.

Carbon Nanofibers System Regional Insights

Based on the Region, the global Carbon Nanofibers is segmented into North America, Europe, Asia-Pacific, South America and Middle East & Africa. Major demand factors driving the Asia-Pacific market are the rising demand from the electronics and semiconductor industry and increasing demand for lightweight and high-performance materials in aerospace & defense industry. The Asia Pacific region is experiencing rapid growth in CNF demand due to its booming industrial sectors and increasing investments in advanced technologies. 

The automotive industry, particularly in countries like China, Japan, and South Korea, is a major driver, with CNFs being used to produce lightweight and fuel-efficient vehicles to meet rising consumer demand and stringent emissions standards. The region's strong electronics industry also contributes to CNF demand, with applications in advanced batteries, super capacitors, and flexible electronics. In aerospace, CNFs are used to develop high-performance materials for aircraft and spacecraft, driven by increasing air travel and defense spending. Additionally, the construction industry in the Asia Pacific region benefits from CNFs for developing durable and energy-efficient building materials. Government initiatives and funding for R&D and innovation further promote the adoption of CNFs across various industries, driving market growth.

FIGURE 3: CARBON NANOFIBERS MARKET VALUE BY REGION 2024 AND 2035 (USD MILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Further, the countries considered in the scope of the Application Tracking System Market are the US, Canada, Mexico, Germany, the UK, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, Saudi Arabia, UAE, South Africa and others.

Global Carbon Nanofibers Key Market Players & Competitive Insights

Many global, regional, and local vendors characterize the Carbon Nanofibers Market. The market is highly competitive, with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. The vendors compete based on cost, product quality, reliability, and government regulations. Vendors must provide cost-efficient, high-quality products to survive and succeed in an intensely competitive market.

The major competitors in the market are Merck KGaA, Pyrograf Products, Inc., Carbonova, American Elements, Otto Chemie Pvt., Aritech Chemazone Pvt. Ltd., Resonac Holdings Corporation, Alfa Chemistry, Novarials Corporation, Nanografi Nano Technology are among others. The Carbon Nanofibers Market is a consolidated market due to increasing competition, acquisitions, mergers and other strategic market developments and decisions to improve operational effectiveness.

Key Companies in the Carbon Nanofibers Market include

• Merck KGaA


• Pyrograf Products, Inc.


• Carbonova


• American Elements


• Otto Chemie Pvt.


• Aritech Chemazone Pvt. Ltd.


• Resonac Holdings Corporation


• Alfa Chemistry


• Novarials Corporation


• Nanografi Nano Technology

Carbon Nanofibers Market Industry Developments

March 2024: Carbonova Corp., a start-up focused on converting greenhouse gas emissions into carbon materials, has successfully closed its SAFE equity financing round, raising USD 6 million. The funding round was oversubscribed, indicating strong investor interest in Carbonova's mission. The company plans to utilize the net proceeds to advance its strategy of building the first commercial demonstration carbon nanofibers unit in Canada. This funding brings Carbonova closer to its vision of creating sustainable materials from greenhouse gas emissions and demonstrates the growing support for their innovative approach to combating climate change.

September 2022: Resonac Holdings Corporation, formerly known as Showa Denko K.K., has announced the integration of Showa Denko K.K. and Showa Denko Materials Co., Ltd. to establish a newly integrated company called "Resonac.". The launch of Resonac is seen as the "second inauguration" of the Showa Denko Group, with the aim of becoming a world-leading chemical company specializing in advanced functional materials. The integration follows Showa Denko K.K.'s acquisition of the former Hitachi Chemical Company, Ltd., and subsequent preparations for the integration.

Carbon Nanofibers Market Segmentation

Carbon Nanofibers by Diameter Outlook

• 5-100 nm


• 101-300 nm


• 301-500 nm

Carbon Nanofibers by Application Outlook

• Catalyst Support


• Electrical Conductivity


• Concrete


• Lubricants


• Inks and Coatings


• Tires


• Others

Carbon Nanofibers by End-Use Industry Outlook

• Aerospace & Defence


• Automotive


• Electronics


• Construction


• Textile


• Paints & Coatings


• Agriculture


• Others

Carbon Nanofibers Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • UK
  
  
  • France
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • India
  
  
  • Japan
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• South America
  
  
  
  • Brazil
  
  
  • Argentina
  
  
  • Rest of South America
  
  
  
  


• Middle East & Africa
  
  
  
  • Saudi Arabia
  
  
  • UAE
  
  
  • South Africa
  
  
  • Rest of Middle East & Africa
  
  
  
  

Report Attribute/Metric	Details
Market Size 2024	USD 981.32 Million
Market Size 2025	USD 1,072.98 Million
Market Size 2035	USD 2,911.08 Million
Compound Annual Growth Rate (CAGR)	10.70% (2025-2035)
Base Year	2024
Forecast Period	2025-2035
Historical Data	2019-2023
Forecast Units	Volume, Value (KG, USD Million)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Diameter, By Application, By End-Use Industry
Geographies Covered	North America, Europe, Asia Pacific, South America, Middle East & Africa
Countries Covered	The US, Canada, Mexico, Germany, the UK, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, Saudi Arabia, UAE, South Africa
Key Companies Profiled	Merck KGaA, Pyrograf Products, Inc., Carbonova, American Elements, Otto Chemie Pvt., Aritech Chemazone Pvt. Ltd., Resonac Holdings Corporation, Alfa Chemistry, Novarials Corporation, Nanografi Nano Technology
Key Market Opportunities	·         Technological advancements in the production process ·         Increasing focus on converting carbon emissions into solid carbon nanofibers
Key Market Dynamics	·         Rising demand from the electronics and semiconductor industry ·         Increasing demand for lightweight and high-performance materials in aerospace & defense industry