Carbon Nanotubes Market Size, Share and Global Industry Forecast 2023-2028

The global carbon nanotubes market size reached US$ 4.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.7 Billion by 2028, exhibiting a growth rate (CAGR) of 16.81% during 2023-2028.

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What are Carbon Nanotubes?

Carbon nanotubes (CNTs) are nano-scale cylindrical carbon molecules formed by rolling a graphene sheet consisting of hexagonally arranged hybridized carbon atoms. They come in single-walled and multi-walled forms. CNTs have wide-ranging applications in the production of sporting goods, energy storage systems, device modeling, thin-film electronics, water filters, actuators, thermal conductivity, and electromagnetic shields. They possess properties such as small size, lightweight, high flexibility, cell membrane penetration, exceptional thermal conductivity, tensile strength, durability, electrical conductivity, and temperature resistance. Consequently, they are extensively utilized in diverse industries, including healthcare, energy, electronics, automotive, textiles, aerospace, defense, etc.

What are the growth prospects and trends in the carbon nanotubes industry?

The market is experiencing positive growth, primarily driven by the significant expansion of the aerospace industry worldwide. Additionally, CNTs are extensively employed in aircraft wings and fuselages to prevent icing, reduce satellite weight, and protect lighting systems. Furthermore, the adoption of multi-walled variants in cathode-ray lighting elements and wafer processing is contributing to market growth.

Besides this, ongoing product innovations, such as the development of environmentally friendly, high-purity CNTs produced through the chemical vapor deposition of camphor, are propelling market expansion. Moreover, the increasing demand for CNTs in the production of drug delivery systems and biosensing devices used for disease treatment and health monitoring is positively impacting the market growth.

Apart from this, the widespread use of CNTs in the electronics industry for manufacturing semiconductor devices, along with the rising demand for premium-quality fashion apparel and bulletproof jackets made from CNTs, are expected to drive market growth.

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What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product:

• Multi Walled Carbon Nanotubes (MWCNT)
• Single Walled Carbon Nanotubes (SWCNT)

Breakup by Method:

• Chemical Vapor Deposition (CVD)
• Catalytic Chemical Vapor Deposition (CCVD)
• High-Pressure Carbon Monoxide Reaction
• Others
   

Breakup by Application:

• Polymers
• Electrical and Electronics
• Energy
• Others

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including: 

• Arkema S.A

• Cabot Corporation

• Carbon Solutions Inc.

• Cheap Tubes Inc.

• Jiangsu Cnano Technology Co. Ltd.

• Kumho Petrochemical Co. Ltd.

• LG Chem Ltd. (LG Corporation)

• Nanocyl SA

• OCSiAl

• Ossila Ltd.

• Raymor Industries Inc.

• Showa Denko K.K.

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