Carbon Nanotube Market Trends

Global Carbon Nanotubes Market Overview

The carbon nanotubes market is estimated to reach a valuation of USD 17.34 billion by the year 2030 at a CAGR of 20.59% during the forecast period that ends in the year 2030.

The carbon nanotubes market is said to exhibit the highest growth rate due to the rising deployment of nanotubes for facilitating technological advances in numerous fields, including engineering, electronics, and medicine. Furthermore, multi-walled carbon nanotubes are witnessing considerable demand around the world, which can be a great opportunity for key players in the near future. Such carbon nanotubes are being used extensively in anti-static plastic parts and battery additives. Moreover, the surging demand and use of storage and electronic devices could be another major opportunity for carbon nanotube manufacturers during the forecast period.

Carbon Nanotubes Market Trends Insights

The new-age trend of utilizing the physical and thermal properties of carbon nanotubes is gaining traction from several industries globally.

The carbon nanotubes have a diameter of a few nanometers and possess exceptional characteristics like as high electrical conductivity, significant tensile strength, and remarkable thermal stability. Carbon nanotubes are utilized as a reinforcing element in the polymer industry to enhance strength and reduce weight. Furthermore, the turbine blades that are used in wind turbines, Francis dam turbines and other selected applications are manufactured using carbon nanotubes. Utilizing carbon nanotubes enhances the mechanical robustness of these wind turbines and enhances the longevity of the wind turbines. Apart from this, carbon nanotubes are also utilized in the production of electrical display panels for various electronic devices and are widely utilized in manufacturing display screens for televisions, laptops, phones, and computers due to the high demand for electrical and electronic devices in both developing and developed nations. Consequently, the demand for carbon nanotubes is projected to increase in these markets. 

The carbon nanotubes market is being propelled towards high-end applications due to its exceptional semiconducting characteristics. The key market players in the industry are being drawn to the probability of replacing current computer chips. In addition, carbon nanotubes are being used in plastic additives due to their flame-retardant and environmentally favourable characteristics. The emerging application of nanotubes in X-rays is creating a range of new possibilities. The utilization of carbon nanotubes in non-traditional applications, such as speakers, is increasing its demand on a note. Furthermore, carbon nanotubes are gaining popularity in the medical domain, particularly in the development of biosensors for the diagnosis of yeast infections. Moreover, its utilization to target malignancies is expanding its reach inside the medical industry.

Carbon Nanotubes Market Segment Insights 

The carbon nanotubes market is primarily segmented based on type, method and end-use. 

Based on type, the carbon nanotubes market is further divided into multi-walled carbon nanotubes and single-walled carbon nanotubes. Out of which, the single-walled carbon nanotubes dominate the market share. Single-walled carbon nanotubes (SWCNT) are cylindrical structures made of graphite, typically with closed ends. SWCNT i.e. single-walled carbon nanotubes are composed of a single layer of graphene, which is a seamless cylinder with a thickness of only one atom. These objects generally have dimensions ranging from 1 nm to 2 nm, which means they are usually narrower than multi-walled tubes. When compared to steel and carbon fibes, they exhibit superior density, tensile strength, and elastic modulus.

Based on the method, the said market segment is further divided into laser ablation, arc discharge, chemical vapour deposition and high-pressure carbon monoxide. Out of which, the chemical vapour deposition segment owes the major market share. With the chemical vapour deposition, the quality of carbon nanotubes is enhanced. The chemical vapour deposition segment is considered an important factor in the manufacturing of carbon nanotubes with its ability to carbon decomposition. 

Based on end-use, the carbon nanotubes market is further divided into the energy sector, automotive industry and electronics and semiconductor industry. Out of which, the electronics and semiconductor industry owes the major market share, owing to the high demand from several manufacturing companies globally. Due to polymer coating, carbon nanotubes are widely employed in diode production, which is expected to boost revenue growth in this area. Apart from this, carbon nanotubes aid cancer diagnosis and therapy in medicine and pharmacy and are known to be antioxidants, while carrying medications to cells and tissues. All of these factors are crucial for medical and pharmaceutical growth.

Carbon Nanotubes Market Region Insights 

The carbon nanotubes market is primarily studied across four major regions, namely, North America, Europe, Asia-Pacific and the Rest of the World. Out of which, the Asia-Pacific region dominates the market share. 

The Asia Pacific carbon nanotubes market is projected to exceed a valuation of USD 2 billion by 2032, propelled by the expanding electronics and construction industries in emerging economies such as India, South Korea, Taiwan, Japan, and China. The Government of India has set a target of achieving USD 300 million in electronics output by 2026, whereas China is focused on enhancing the electronics sector and promoting innovation. The increasing efforts to construct favourable regulatory frameworks to promote innovative advancements to remove existing obstacles will also impact the growth of the regional sector.

The second-largest market share in the carbon nanotubes market is held by the North American region owing to the presence of major countries like the US, Canada, and Mexico which has a huge automobile sector and hence drives the market demand in this region. Moreover increasing investment in various power generation projects, aerospace projects, and automobile projects creates more market demand. Apart from this, the presence of major key players in the industry also drives the market demand in this region. Currently, the majority of carbon nanotube manufacturing is used in thin films and bulk composite materials, which rely on disordered CNT architectures. Organized carbon nanotube structures, such as vertically aligned forests, offer considerable advantages for utilizing distinct CNT features in macroscopic systems for various applications.

The third-largest market share in the market is held by the European region owing to the presence of a well-established technologically advanced infrastructure that requires more power generation and hence creates more growth opportunities in this region. Moreover, increasing investment coupled with increased expenditure in the automobile sector drives the market demand in this region.

Carbon Nanotubes Market Key Players & Competitive Insights

Major key players in the said market segment adopt crucial strategies to endure their market position in the carbon nanotubes market by going for mergers, and acquisitions, collaborating, setting up a new joint venture, establishing a partnership, developing a new product line, innovating in the existing product, developing a unique production process, and many others to expand their customer base in the untapped market of the carbon nanotubes market all across the globe.

Carbon Nanotubes Market Key Companies Insights 

• Chengdu Organic Chemicals Co. Ltd. 


• Jiangsu Cnano Technology Co. Ltd. 


• Showa Denko K.K. 


• Cabot Corporation 


• LG Chemical Limited 


• Nanocyl SA 


• Arry International Group Limited


• Kuhmo Petrochemical 


• Carbon Solutions Inc.


• Resonac Corporation


• Timesnano


• Cheap Tubes 


• Hanwha Corporation

Recent Developments 

February 2022 - 

In February 2022, Northern Graphite Corporation signed an agreement to secure 100% interest within Mousseau West Graphics while retaining a 2% royalty.

April 2020 - 

In April 2020, LG Chem announced the expansion of its business of CNTs Yeosu plant, to increase its capacity to 1200 tons.

January 2023 - 

In January 2023, Showa Denko KK signed a merger deal with Showa Denko Materials Co. Ltd to establish a unified company called Resonac Holdings Corporation.