Global Carbon Nanotubes Market to Reach USD 13.85 Billion by 2031 | CAGR of 15.4%
Category : Materials And Chemicals | Published Date : Nov 2024 | Type : Press Release
Carbon Nanotubes Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that The Carbon Nanotubes Market size was valued at USD 4.39 Billion in 2023 and is projected to reach USD 13.85 Billion by 2031, growing at a CAGR of 15.4% from 2024 to 2031. Carbon nanotubes (CNTs) are cylindrical molecules composed of single-layer graphene atoms, featuring unique properties like high elasticity, strength, and exceptional thermal and electrical conductivity. They are categorized into single-walled (SWCNTs) and multi-walled (MWCNTs) types, with applications spanning electronics, energy storage, aerospace, and biomedical industries.
The report comprises the Carbon Nanotubes Market Share, Size & Industry Analysis, By Type (Single-Walled Carbon Nanotubes (SWCNTs), Multi-Walled Carbon Nanotubes (MWCNTs)), By Method of Synthesis (Chemical Vapor Deposition (CVD), Arc Discharge, Laser Ablation), By Application (Chemical & Polymers, Energy Storage, Structural Composites, Medical, Others), By End-User (Automotive, Aerospace, Electronics, Energy, Healthcare, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Carbon Nanotubes Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Increasing demand in the electronics and semiconductor industries is a primary driver of market growth, while high production costs present a significant challenge for broader adoption.
Segmental Analysis :
By type, the market is bifurcated into single-walled and multi-walled carbon nanotubes.
- Multi-Walled Carbon Nanotubes (MWCNTs) held the largest revenue share of 74.29% in 2023, driven by their ease of production and varied applications in structural composites and conductive polymers.
- Single-Walled Carbon Nanotubes (SWCNTs) are projected to grow at the fastest CAGR, owing to their superior electrical conductivity and suitability for high-tech applications like drug delivery and advanced electronics.
By method of synthesis, the market is segmented into Chemical Vapor Deposition (CVD), Arc Discharge, and Laser Ablation.
- Chemical Vapor Deposition (CVD) accounted for the largest share in 2023, favored for its scalability and high purity output suitable for industrial applications.
- Laser Ablation is expected to grow at the fastest CAGR, due to its capability of producing high-quality single-walled nanotubes with fewer structural defects.
By application, the market includes chemical & polymers, energy storage, structural composites, medical, and others.
- Structural Composites led the market share in 2023, attributed to the high tensile strength and flexibility of CNT-infused materials used in aerospace and automotive sectors.
- Energy Storage applications are anticipated to grow at the fastest CAGR, driven by the adoption of CNTs in enhancing the efficiency of batteries and capacitors.
By end-user, the market is segmented into automotive, aerospace, electronics, energy, healthcare, and others.
- Electronics held the largest share in 2023, owing to the high electrical conductivity of CNTs, making them essential for the development of high-performance electronic devices.
- Energy is projected to grow at the fastest rate, supported by advancements in CNT-based energy storage solutions, particularly in renewable energy applications.
Based on regions, the global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- Asia-Pacific is expected to grow at the highest CAGR, driven by strong demand from electronics and semiconductor industries in China, Japan, and South Korea.
- North America held a significant share in 2023, supported by robust R&D investments and advancements in nanotechnology applications across various industries.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 13.85 Billion |
| CAGR (2024-2031) | 15.4% |
| By Type | Single-Walled Carbon Nanotubes (SWCNTs), Multi-Walled Carbon Nanotubes (MWCNTs) |
| By Method of Synthesis | Chemical Vapor Deposition (CVD), Arc Discharge, Laser Ablation |
| By Application | Chemical & Polymers, Energy Storage, Structural Composites, Medical, Others |
| By End-User | Automotive, Aerospace, Electronics, Energy, Healthcare, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The carbon nanotubes market is competitive, with companies focusing on R&D, product innovation, and strategic collaborations.
List of prominent players in the Carbon Nanotubes Industry:
- Jiangsu Cnano Technology Co, Ltd. (China)
- NoPo Nanotechnologies (India)
- Arkema (France)
- Nanoshell LLC (US)
- Cabot Corporation (US)
- Carbon Solutions, Inc. (US)
- Klean Commodities (Canada)
- Resonac Holdings Corporation (Japan)
- Nanocyl SA (Belgium)
- Hyperion Catalysis International (US)
- OCSiAl (Luxembourg)
- KUMHO PETROCHEMICAL (South Korea)
- RAYMOR INDUSTRIES INC. (Canada)
Recent Industry Developments :
- In April 2023, NEC Corporation launched a high-sensitivity uncooled infrared image sensor utilizing high-purity semiconducting CNTs, aimed at enhancing infrared detection capabilities.
- In October 2023, Birla Carbon acquired Nanosyl, a Belgian manufacturer of multi-wall CNTs, aiming to expand its portfolio in lithium-ion battery materials.
- In February 2024, Epsilon Advanced Materials acquired Johnson Matthey's LFP cathode technology center in Germany, positioning itself as a leader in battery component manufacturing.
