Carbon Nanotube Market - By Product, Synthesis Method, End Use - Global Forecast, 2025 - 2034

Carbon Nanotube Market Size

The global carbon nanotube market was valued at USD 8.8 billion in 2024. The market is expected to grow from USD 12.5 billion in 2025 to USD 35.8 billion in 2034, at a CAGR of 12.4%, according to latest report published by Global Market Insights Inc.

• Carbon nanotubes are cylindrical nanostructure objects, composed entirely by carbon atoms, arranged in a hexagonal lattice. These structures offers supreme electrical conductivity, very high tensile strength, and lightweight properties. Due to these features, CNTs are demanded for different applications. The increasing demand for electric vehicles-one of the primary growth drivers for the market-comes as CNTs boost battery electrode performance and energy density for longer-lasting, easier-to-use EVs.
   
• According to International Energy Agency, in 2022, the sale of electric vehicles worldwide exceeded approximately 10 million units, with 60% accounted by China, due to rapid urbanization and favorable policies. Besides, the electronics and semiconductor industries have been growing at very fast rates, with efforts from countries directed towards improving the level of semiconductor manufacturing and infrastructure for electronics to increase even more the demand for high-quality CNTs for the creation of smaller and more efficient devices.
   
• The aerospace industry is also increasingly adopting the application of CNTs to make components lighter; lightweighting is important for fuel efficiency and emission reduction improvements, in line with other government initiatives to promote sustainable transportation as well as innovations in aerospace.
   
• Currently, the Asia-Pacific region leads the market because of capable advanced manufacturing infrastructure and large-scale investments; North America is also recognized as the fastest-growing market due to investments made in developing innovative manufacturing technologies and stringent sustainability policies.
   

Carbon Nanotube Market Trends

• Advancements in scalable manufacturing processes such as chemical vapor deposition (CVD), laser ablation and others of the past decade have increased the quality and consistency yield of carbon nanotubes. They also weigh down the production cost that makes them easily applicable in large-scale applications for industrial uses. The innovations that come up with the continuous production processes are enabling throughput on the higher level, which helps meet high market demands.
   
• It is becoming increasingly clear that carbon nanotubes will be part-and-parcel to next flexible electronics, wearable devices, and high performing semiconductors. Their exceptional electrical conductivity and mechanical flexibility make CNTs perfect for next-gen electronic components.
   
• Manufacturers are incorporating CNTs in manufacturing of composites that are extremely lightweight and exhibit high strength-to-weight ratios, specifically in aerospace, automotive, and defense, to reduce structure weight, increase fuel efficiency, and maximize structural strength. Emission standards and fuel usage are tightening to meet regulatory standards, and anticipated interest in CNT-based composites will grow further based on government promotion of sustainable, high-performance material applications.
   
• Increasing collaboration between industries and governments has promoted innovation in CNT technology. Joint research activities will focus on enhancing material properties, reducing costs, and developing application-specific CNT solutions. This collaboration has an important role to play in fast-tracking commercialization and large-scale production.
   

Carbon Nanotube Market Analysis

Learn more about the key segments shaping this market

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Based on product, market is segmented into single-walled carbon nanotubes (SWCNT), multi-walled carbon nanotubes (MWCNT), double-walled carbon nanotubes (DWCNT) and vertically aligned carbon nanotubes (VACNT). Single-walled carbon nanotubes (SWCNT) generated USD 6.7 billion in 2024.
 

• Single-walled carbon nanotubes (SWCNTs) dominates due to electrical conductivity, high aspect ratio, and mechanical properties, which make it suitable for advanced electronic and sensor applications. The electronics industry, particularly in miniaturization and wearable devices, is the major demand booster for SWCNTs. Their unique optical properties are used in biomedical imaging and photonics, further extending the application arena beyond traditional sectors.
   
• The cost-effective price coupled with easy production processes and high strength and durability provides significant coverage to multi-walled carbon nanotubes (MWCNT) in the market. It is used in composite materials for automotive, aerospace, and construction industries. MWCNTs are also one of the preferred types of energy storage devices such as batteries and supercapacitors due to their extremely high surface area coupled with electrical conductivity.
   
• Double-walled carbon nanotubes combine the character of single-walled and multi-walled carbon nanotubes. It combine electrical conductivity, mechanical strength, and cost. Their intermediate structure offers stability and conductivity.
   
• The demand for vertically aligned carbon nanotubes (VACNT) is growing in uses such as field emission displays, sensors, and filtration. They can offer high-performance devices of the next generation in electronics and energy in that their uniform orientation maximizes electron emission and better surface interaction control. The ability to grow VACNTs on any substrate and their high level of customizability makes them applicable in special industries such as aerospace and defense.
   

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Based on synthesis method, the carbon nanotube market is segmented into chemical vapor deposition (CVD), plasma enhanced chemical vapor deposition (PECVD), high-pressure carbon monoxide (HiPco), laser ablation, floating catalyst CVD and others.
 

• CVD dominates and holds 68.1% of market share in 2024 due to the high quality of carbon nanotubes it produces. It is appropriate for various industrial applications, and uniform and scalable production. CVD also allows a choice of controlled growth of either single-walled or multi-walled CNTs, which is the choice of manufacturers engaged in the business for consistency and purity of the products. CVD became an industry standard due to the capability to produce a large number of CNTs while controlling the conditions with precision in temperature, composition of the catalyst, and gas flow rates.
   
• PECVD is increasingly employed in CNTs deposition at lower temperatures, which is vital in order to adapt them to temperature sensitive substrates such as flexible electronics and polymers. This method produces CNTs that are vertically aligned with precise orientation, making them useful in applications with high field emission efficiency and sensor sensitivity requirements.
   
• HiPco is gaining traction for producing high purity single-walled CNTs but has limited actual applications due to very demanding process requirements and high costs when compared to CVD.
   
• Laser ablation is known for producing and supplying high-quality CNTs with high structural properties, well-suited for high-tech applications such as aerospace, defense, and advanced electronics. However, due to high energy consumption and expensive instrumentations, its commercial scalability is questionable.
   
• Floating catalyst CVD is a scalable method that can produce CNTs in a gas phase and is thus flexible for large-scale manufacturing applications with relatively low cost. It has growing adoption to produce CNTs for composite materials and energy storage devices.
   

Based on end use, the carbon nanotube market is segmented into automotive, aerospace & defense, electronics & consumer goods, energy & power, healthcare & life sciences, chemical & materials, construction and others.
 

• Electronics & consumer goods dominating due to rapid technological advancements and consumer demand for miniaturized-high-performance electronic devices. Excellent electrical conductivity, flexibility, and low-weight characteristics of CNTs render them useful for flexible displays, wearable electronics, and advanced semiconductors. The rapid growth of smartphones, tablets, and IoT devices are expected to garner huge investments into CNT-based components, thus enhancing the market growth.
   
• For their high strength-to-weight ratio, durability, and thermal stability, CNTs are being utilized in the aerospace & defense sector for the fabrication of lightweight composites for aircraft, space vehicles, and military equipment. It is with these concerns that aerospace producers-have been adopting CNTs for-making lighter-and-stronger-materials since stricter fuel efficiency and-or emission regulations are coming into force.
   
• In defense applications, CNTs are intended to enhance the performance and resilience of advanced sensors, nanocomposite materials, and electronic warfare systems. Higher defense budgets, together with the focus on sustainability in aerospace manufacturing, are expected to further catapult CNT adoption in this segment.
   
• In energy & power sector, CNTs are enhancing the performance of batteries, super capacitors, and fuel cells by bettering electrical conductivity and enhanced surface area. CNT electrodes allow for fast charging and high energy density, which are prime requirements for electric vehicles and renewable energy storage.
   
• The chemical and materials sector employs CNTs to make extended nanocomposites, coatings, and filtrations, taking advantage of their chemical stability and high surface area for this purpose. Such properties are needed to develop corrosion-resistant, flame-retardant, and conductive materials from many industrial applications.
   

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The carbon nanotube market in North America will grow at a CAGR from approximately 12.6% between 2025 and 2034.
 

• The key growth drivers include adopting advanced electronics, electric vehicles, and high-performance materials in industries such as automotive, aerospace, and even consumer electronics. Increased R&D investment and technological innovations are further enhancing CNT synthesis and application levels, facilitating market expansion.
   
• The growing demand for lighter, stronger, and highly conductive materials in the improvement of product performance and energy efficiency is driving growth even further. Also, smart and connected devices will require the push for sustainable manufacturing techniques to permit a CNT integration in many applications.
   

The carbon nanotube markets in Europe, especially in a few countries like Germany, are expected to grow with a rapid pace in the coming years, especially from 2025 to 2034, with CAGR of 12.3%
 

• Sustainability and green manufacturing specific to the region have led to advancements with green synthesis and functionalization techniques for carbon nanotubes, rendering the effects of CNT on the environment minimal.
   
• The increased investment in the research and development of nanotechnology involves innovations in the high-performance composite materials for automotive and construction industries.
   
• Among the various driving forces are the growing demand for CNT-based sensors; storage of energy; and structural lightweight with regard to stringent environmental regulation and energy efficiency push.
   

The carbon nanotube market in China and India is expected to have lucrative growth between 2025 and 2034, with CAGR 12.4%.
 

• Rapid industrialization, urbanization, and infrastructural development have increased demand for advanced materials, which has raised the adoption of CNTs in electronics, energy storage, and construction applications
   
• The emerging automotive and renewable energy industries are expected to benefit from the application of CNTs into the current systems for purposes of producing lighter, stronger, and more efficient products, hence driving demand in the market.
   
• Such investments are likely to create avenues for further advancements towards greener technology and manufacturing process development for performance-scalable CNTs from R&D with respect to developed and environmentally sustainable methods of CNT production to cater to the rising demand of nanomaterial in domestic and international markets.
   

Between 2025 and 2034, the market for carbon nanotube in the UAE and the Middle East is projected to grow significantly during this period.
 

• Further, infrastructure expansion, smart city initiatives, and industrial diversification are pushing the application of CNT-enhanced composites and coatings into construction, electronics, and energy.
   
• Growing consumer and industrial awareness of lightweight, durable, and conductive materials will heavily push the sectors-aerospace, defense, and high-tech manufacturing, among others. For sustained development in this region and with the governmental incentives in favor of clean energy and advanced manufacturing, CNTs will find their way into many industrial applications.
   

Between 2025 and 2034, a promising expansion of the carbon nanotube sector is foreseen in Brazil and Argentina.
 

• Expanding infrastructure, smart city projects, and diversification into industry are further driving the uptake of CNT composites and coatings within construction, electronics, and energy.
   

Carbon Nanotube Market Share

• Carbon nanotube industry is moderately consolidated with players like Cabot Corporation, CHASM Advanced Materials, Jiangsu Cnano Technology Co., Ltd., LG Chem Ltd and OCSiAl Group accounts for 46.3% market share in 2024.
   
• The carbon nanotube market consists of such leading companies, operating mostly in their regional areas. Their long years of experience with carbon nanotube allow these companies to maintain a strong market position worldwide. Their product offerings are diverse and majorly supported by production capacities and distribution networks, which can serve the increasing demand for carbon nanotube in various regions.
   

Carbon Nanotube Market Companies

Major players operating in the carbon nanotube industry includes:
 

• Arkema SA
• Cabot Corporation
• Carbon Solutions, Inc
• CHASM Advanced Materials
• Jiangsu Cnano Technology Co., Ltd.
• Klean Industries
• Kumho Petrochemical
• LG Chem Ltd
• Nanocyl 
• OCSiAl Group
• Zeon Corporation
   

LG Chem Ltd. CNT's operations benefit from integrated capabilities of production, vast R&D infrastructure, and well-established customer relationships throughout electronics, automotive, and energy-storage sectors. One strong market position held by LG Chem lies on high-priced CNT production where applications are fine. 
 

Cabot Corporation has grown into a massive market player in specialty chemicals and carbon materials. The CNT business is built on decades of experience regarding the production and processing of carbon black, having the benefit of synergy regarding technology and efficiency among operations. 
 

OCSiAl Group emerged as an important player. The company's TUBALL product line is aimed at high-performance applications in electronics, energy storage, and composites. OCSiAl's focus on scaling production and reducing costs will eventually allow penetration across broader markets while maintaining product quality.
 

CHASM Advanced Materials specializes in high-purity CNT production for demanding applications in electronics and aerospace. Controlled synthesis and purification give the company consistent product quality to meet the stringent requirements of its applications. 
 

Jiangsu Cnano Technology Co., Ltd. represents the growing Asian production capabilities, with focus on cost-effective manufacturing and expanding global market presence. The company's production facilities take the benefits of cost advantages and achieve nearness to major end-use markets.
 

Carbon Nanotube Industry News

• In October 2024, OCSiAl opened its first-ever graphene nanotube production facility in Serbia. OCSiAl has provided a 60-tonne capability, which has been estimated to support over 1 million electric vehicles, with the extension of its advanced nanomaterials for various industrial applications.
   
• In September 2023, Huntsman Corporation announced the start of construction work for its 30-ton MIRALON carbon nanotube plant, following successful commercialization for sustainable nanomaterials. The nanomaterials yield clean hydrogen with virtually no CO2 emissions.
   
• In June 2023, CHASM Advanced Materials rolled out its mass production platform in response to stratospheric demand for its scalable NTeC-E conductive CNT additives for electric vehicle batteries, with projections aimed at satisfying annual demand of 50,000 tons for growing Li-ion battery applications.
   
• In March 2021, Cabot Corporation launched ENERMAX 6 carbon nanotube series that strengthens battery performance with increased conductivity whilst reducing internal resistance as one of several developments of energy storage solutions focused on sustainability.
   

The carbon nanotube market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Billion and volume in terms of Kilo Tons from 2021–2034 for the following segments:

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Market, By Product

• Single-walled carbon nanotubes (SWCNT)
• Multi- walled carbon nanotubes (MWCNT) 
• Double- walled carbon nanotubes (DWCNT)
• Vertically aligned carbon nanotubes (VACNT)

Market, By Synthesis Method

• Chemical vapor deposition (CVD)
• Plasma enhanced chemical vapor deposition (PECVD)
• High-pressure carbon monoxide (HiPco) 
• Laser ablation
• Floating catalyst CVD
• Others

Market, By End Use

• Automotive 
  • Electric vehicle
  • Lightweight components
  • Conductive parts 
• Aerospace & defense 
  • Structural applications
  • EMI shielding
  • Thermal management
• Electronics & consumer goods
  • Flexible electronics
  • Displays & touchscreens
  • Wearable devices
• Energy & power
  • Battery manufacturing
  • Solar panels
  • Wind energy
• Healthcare & life sciences
  • Medical devices
  • Diagnostic equipment
  • Therapeutic applications 
• Chemical & materials
  • Catalyst 
  • Polymer additives
  • Coatings 
• Construction 
  • Concrete 
  • Smart materials
  • Others

The above information is provided for the following regions and countries:

• North America 
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe 
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of Asia Pacific 
• Latin America 
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America 
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of Middle East & Africa