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Carbon Nanotubes Market - By Product (Single Wall, Multi Wall), By Technology (Chemical Vapor Deposition, Catalytic CVD, Arc Discharge), By Application (Batteries, Automotive, A&D, Medical, Chemical & Polymers, Energy), By Region - Global Forecast to 2032

  • Report ID: GMI744
  • Published Date: Mar 2023
  • Report Format: PDF

Carbon Nanotubes Market Size

Carbon Nanotubes Market size valued at USD 800 million in 2022 and is poised to register over 19.5% CAGR from 2023 to 2032. Rising global energy demand will fuel overall business growth.

Carbon Nanotubes Market

The growing emphasis on renewable energy sources is projected to proliferate the carbon nanotube (CNT) adoption worldwide. The global energy has witnessed substantial growth, encouraging several economies to adopt cleaner and more sustainable energy alternatives. Hence, solutions, such as wind turbines have emerged vital for energy generation, further augmenting the demand for parts, including long wind turbine blades. These components are often integrated with CNTs as they help reduce mechanical stress, enhance strength, boost efficiency, and extend shelf life. The increasing government efforts for favoring wind energy projects for large-scale production of renewable energy will positively influence the carbon nanotubes industry outlook.

Carbon Nanotubes Market Trends

The production of superior quality and high purity CNT is an expensive process and thus hampers the overall business performance. To that end, manufacturers rely on advanced technologies for the production and application of nanoparticles, subsequently adding to the product costs. Furthermore, large-scale CNT production increases the risk of chronic illnesses among workers owing to prolonged exposure to nanoparticles, thus representing a major challenge for manufacturers to support an amplified production output.

Carbon Nanotubes Market Analysis

Global Carbon Nanotubes Market Size, By Product

Based on material, the carbon nanotubes market from multi-wall carbon nanotubes is slated to expand at nearly 19.8% CAGR through 2032. The surging adoption of multi-wall carbon nanotubes (MWCNTs) can be attributed to their excellent properties, that include high mechanical strength, electrical conductivity, and thermal conductivity that are five times higher than that of copper. These nanotubes feature multiple layers of carbon/graphite superimposed and folded into a cylindrical and tubular structure. These structures play a key role in the manufacturing of multiple products right from batteries, supercapacitors, and plastic products to construction materials. Thus, the growing demand for electronics, such as semiconductors and batteries will enhance the need for MWCNTs, adding positive impetus to the market expansion.


Asia Pacific carbon nanotubes market is anticipated to surpass USD 2 billion by 2032 driven by the growing electronics and construction sectors in countries such as India, South Korea, Taiwan, Japan, and China. For instance, the Government of India aims to reach USD 300 million worth of electronics production by 2026, whereas China is working toward strengthening the electronics sector and boosting innovation. The growing intervention to establish favorable regulatory structures for supporting groundbreaking developments to eliminate current barriers will also influence the regional industry growth.

Carbon Nanotubes Market Share

Some of the leading companies in the global carbon nanotubes market include :

  • LG Chem
  • TimesNano
  • Showa Denco
  • Cabot Corporation (SUSN)
  • C-nano Technology
  •  Nanocyl Arkema.

These industry players are implementing strategic initiatives such as, collaborations and joint ventures to consolidate the market lead while scaling their revenue sales.

Impact of COVID-19 Pandemic

The COVID-19 pandemic had a moderate impact on the carbon nanotubes industry with an influx of new challenges and opportunities. The supply chain disruptions caused across a broad spectrum of end-user sectors including automotive, aerospace, and defense negatively influenced the demand for carbon nanotubes. Meanwhile, promising breakthroughs in carbon nanotube-based biosensors for the detection of COVID-19 infection offered new business prospects for the market participants. Thus, CNT sensors gained massive momentum in the wake of the pandemic as an effective rapid diagnostic tool to deal with the virus. Furthermore, the growing advancements in carbon nanomaterials enabled virus inactivation and detection using CNT arrays also added to the market expansion.

This carbon nanotubes market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in tons and revenue in USD million from 2018 to 2032 for the following segments:

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By Product

  • Single-Wall Carbon Nanotubes
  • Multi-Wall Carbon Nanotubes

By Technology

  • Floating Catalyst
  • Laser Ablation of Graphite
  • Chemical Vapor Deposition
  • Catalytic CVD
  • High Pressure Carbon Monoxide
  • Arc Discharge
  • Others

By Application

  • Batteries
  • Automotive
  • Aerospace and Defense
  • Medical
  • Chemical & Polymers
  • Energy
  • Electricals & Electronics
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Russia
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • GCC
    • South Africa
Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of carbon nanotubes crossed USD 800 million in 2022 and is expected to register 19.5% CAGR from 2023 to 2032.

The multi-wall nanotubes segment is anticipated to expand at over 19.8% growth rate up to 2032 driven by the incessant need for superior machinal properties.

Asia Pacific market is poised to surpass USD 2 billion by 2032 due to the growing electronics and construction sector.

LG Chem, TimesNano, Showa Denco, Cabot Corporation (SUSN), HXNANO, C-nano Technology, and Nanocyl Arkema are some of the key manufacturers of carbon nanotubes.

Carbon Nanotubes Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 13
  • Tables & Figures: 535
  • Countries covered: 19
  • Pages: 353
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