Carbon Nanotubes Market Industry: Rising Demand and Future Scope till 2030

According to the Market Statsville Group (MSG), the global carbon nanotubes market size is expected to grow from USD 976.4 million in 2022 to USD 3,071.2 million by 2033, at a CAGR of 22.5% from 2023 to 2033.

The carbon nanotubes market is expected to experience significant growth in the coming years, driven by various factors such as increasing demand for lightweight and high-strength materials in various end-use industries such as electronics, aerospace, and automotive. One of the major factors driving the growth of the carbon nanotubes market is the increasing demand for efficient and lightweight materials in the automotive industry. Carbon nanotubes are known for their high strength, low weight, and excellent thermal and electrical conductivity, making them ideal for use in automotive components such as body panels, tires, and batteries. On the other hand, high cost of preparing and Health hazards, environmental concern will affect the market growth of carbon nanotubes for the upcoming period. However, increase in emerging application such as lithium batteries, chemical sensors and other will create the opportunities for the new players and old player to capture the market.

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Global Carbon Nanotubes Market Definition

Carbon nanotubes or CNTs are one-dimensional allotropes of carbon formed by rolling sheets of graphene, an advanced material. Carbon Nanotubes (CNTs) consists of rolled up sheets of carbon atoms in the form of cylindrical. These structures have a single-walled layer with less than 1 nano meter diameter or a multi-walled layer with 100 nanometers. Carbon nanotubes offer exceptional electrical conductivity, lightweight, thermal conductivity, and tensile strength due to the strong interaction between carbon atoms. These characteristics make carbon nanotubes very appealing for applications such as optics, electronics, nanotechnology, composite materials, and material science. For the production of Carbon Nanotubes, many manufacturers have adopted various technique such as arc discharge, Laser ablation of graphite, and chemical vapor deposition by this method carbon nanotube can be produce. A chemical vapor deposition process is the most commonly used method to produce carbon nanotubes due to the ability to produce more significant carbon nanotubes under more easily controlled conditions at a lower cost.

Global Carbon Nanotubes Market Dynamics

Drivers: Increase in Aerospace Industry and Rising Electronics Demand

In order to limit the dangers concerned in flying, most aircraft producers attempt to make their aerospace elements stronger, touchier, and remaining longer. The aerospace industry is focusing on lowering weight to limit gas consumption and extend aircraft running costs. A modern and superior airplane’s fuselage is made from a couple of sheets of a range of composite materials. Nanomaterials are used in the aerospace area for improved properties, which enhance the ordinary aircraft performance. Most of the professionals, together with producers and engineers, are developing strategies for producing aerospace-grade composites.

Growing electronics manufacturing in China, South Korea, Japan, and Singapore, on the other hand, will fuel enterprise growth. The growing electronics sector, particularly in printed circuit boards and semiconductors, has resulted in increased product utilisation worldwide. Fast science and new product development will drive demand for the electronics and semiconductors industries.

Scope of the Global Carbon Nanotubes Market

The study categorizes the carbon nanotubes market based on type, method and end users at the regional and global levels.

By Type Outlook (Sales, USD Million, 2017-2033)

Single-Walled Carbon Nanotubes (SWCNT)

Multi-Walled Carbon Nanotubes (MWCNT)

By Method Outlook (Sales, USD Million, 2017-2033)

Chemical Vapor Deposition

Catalytic Chemical Vapor Deposition (CCVD)

High-Pressure Carbon Monoxide Reaction

Arc Discharge

Laser Ablation

Comocat

Floating Catalyst

Others

By End Users Outlook (Sales, USD Million, 2017-2033)

Electronics & Semiconductors

Energy & Storage

Chemical Material & Polymers

Medical

Structural Composites Applications

Others

By Region Outlook (Sales, USD Million, 2017-2033)

North America

US

Canada

Mexico

Europe

Germany

Italy

France

UK

Spain

Poland

Russia

The Netherlands

Norway

Czech Republic

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

Indonesia

Malaysia

Thailand

Singapore

Australia & New Zealand

Rest of Asia Pacific

South America

Brazil

Argentina

Colombia

Rest of South America

The Middle East & Africa

Saudi Arabia

UAE

South Africa

Northern Africa

Rest of MEA

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The Multi-Walled Carbon Nanotubes (MWCNT) segment accounts for the largest market share by Type

Based on type, the market is segmented into Multi-Walled Carbon Nanotubes (MWCNT) and Single-Walled Carbon Nanotubes (SWCNT). Multi-Walled Carbon Nanotubes (MWCNT) dominated the market and may continue its dominance during the forecast period. Multi walled carbon nanotubes consist of a couple of rolled layers of graphene in a one dimensional format. Two primary fashions can be used to describe the buildings of multi-walled nanotubes. The Russian doll model consists of sheets of graphite organized in concentric cylinders. A single sheet of graphite is rolled in round itself in the Parchment model, similar to a parchment scroll or rolled newspaper. Multi-walled carbon nanotubes (MWCNT) materials have several uses, including conductive transparent electrodes, electrical conductivity, conductive heating films, displays, nanodevices, supercapacitors, solar industries, batteries, and many more. Multi-walled carbon nanotubes (MWCNT) are highly conductive material when it properly integrated into a composite structure. Graphene's molecular complexity in multi-walled carbon nanotubes increases its tensile strength, making it useful in electronics, energy, and engineered polymers. As well, they are fortified with engineered polymers that dissipate static electricity and increase airborne contamination resistance. It is also employed in biomedical engineering and has been extensively investigated in biosensing and medication delivery systems for illness monitoring and therapy.

Asia Pacific is estimated to project the highest CAGR during the forecast period, by Region

CNTs market in APAC is expected to witness high growth because of the increased end-use applications, for instance, used in mobile phones, lithium-ion batteries, and laptops. The increase in the automotive industry toward sustainable and clean vehicles has led in the adoption of electric vehicles. These electric motors demand the use of composites and lithium-ion batteries, the place CNTs discover application. These factors are anticipated to power the CNTs market in APAC at some point of the forecast period. APAC has been a high-potential CNTs market in opposition to the backdrop of an overall slowdown in the international economic development. This area encompasses a numerous range of economies with different ranges of economic development and a large variety of industries which include manufacturing, mining, semiconductors, electronics, oil & natural gas, textile, automobile, monetary services, pharmaceutical, renewables, and telecommunication.

Competitive Landscape - Global Carbon Nanotubes Market

The global carbon nanotubes are highly competitive market, with major industry players adopting strategies such as product development, acquisitions, partnerships, agreements, and expansion to strengthen their market positions. Most market player focus on expanding their operations across many regions, augmenting their capabilities, and building strong partner relations.

Major players in the global carbon nanotubes market are:

Arkema

Cabot Corporation

Chasm Advanced Materials inc

Cheap Tubes

Hyperion Catalysis International

Jiangsu Tiannai Technology Co. Ltd

Klean Industries Inc

Kumho Petrochemical

LG Chem

Nano-c

Nanocyl SA

Nanostructured & Amorphous Materials Inc

Nopo Nanotechnologies

Ocsial

Ossila Ltd

Raymor Industries Inc

Showa Denko KK

Thomas Swan and Co. Ltd

Tokyo Chemical Industry Co. Ltd

Toray Industries Inc.

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Recent Developments

In March 2021, Cabot Corporation had announced the launch of their new ENERMAX™ 6 carbon nanotube (CNT) series. ENERMAX™ 6 carbon nanotube products is the company’s latest development in high-performance carbon nanotube CNTs. With the ENERMAXTM 6 carbon nanotube series, battery performance can be improved at lower loadings, allowing the batteries to have a higher energy density.

 In April 2020, Cabot Corporation had announced that it has completed its acquisition of Shenzhen Sanshun Nano New Materials Co., Ltd (SUSN). The business has integrated into cabot’s performance chemicals segment.

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