The worldwide market for carbon nanotubes was valued at around 6.63 billion U.S. dollars in 2021, but this figure is forecast to increase by roughly 14 billion U.S. dollars to approximately 20.3 billion U.S. dollars in 2030.

What are carbon nanotubes?

Carbon nanotubes are hollow cylinders made from rolled sheets of graphene; they can be single-walled, double-walled, or multi-walled. The use of carbon nanotubes in the production of electronics is one reason for the predicted growth of the market. The two-dimensional hexagonal structure of graphene offers very little resistance to the movement of electrons, meaning the material conducts electricity very efficiently. Forecast figures show the global market value of graphene electronics could increase to around 800 million U.S. dollars in 2024.

Could graphene soon replace silicon?

The Asia Pacific region is projected to make the largest contribution towards the worldwide market value of carbon nanotubes over the coming years. This particular region is also a leading market in the manufacturing of semiconductors and is expected to generate around 300 billion U.S. dollars from the industry in 2019. Carbon nanotubes are gaining appeal within the semiconductor industry because they are superior electrical conductors compared to the existing silicon chips. There remain obstacles to overcome, but manufacturing a computer chip out of carbon nanotubes could greatly enhance the overall performance of electronic devices.

The Carbon Nanotubes Market Report Segments the Industry by Type (Multi-Walled Carbon Nanotubes, Single-Walled Carbon Nanotubes, and Other Types), Manufacturing Method (Chemical Vapor Deposition (CVD), High-Pressure Carbon Monoxide (HiPco), and More), End-Use Industry (Electrical and Electronics, Energy, and More), and Geography (Asia-Pacific, North America, Europe, South America, Middle East and Africa).

The Carbon Nanotubes Market size is expected to reach a valuation of USD 5.4 billion in 2033 growing at a CAGR of 15.20%. The Carbon Nanotubes Market research report classifies Market by share, trend, demand, forecast and based on segmentation.

The market size of the global carbon nanotube in 2025 will be USD 1166.2 million and the projection will escalate to an astronomical USD 2812.1 billion by the year 2035 with a 9.2% compound annual growth rate (CAGR) in the study duration. Use of CNTs in energy storage devices such as lithium-ion batteries and super capacitors will be one of the factor drivers for such a growth pattern.

Country-Wise Analysis

Competitive Outlook

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In 2026, the European market for carbon nanotubes is projected to have a value of 3.09 billion U.S. dollars. The total global market value of carbon nanotubes is projected to amount to some 15.02 billion U.S. dollars in 2026.

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Carbon Nanotube Market Size 2024-2028

The carbon nanotube market size is forecast to increase by USD 6.07 billion, at a CAGR of 22.66% between 2023 and 2028. The carbon nanotube market is experiencing significant growth due to several key factors. Firstly, the miniaturization of semiconductor components drives the demand for carbon nanotubes as they offer superior electrical conductivity and thermal properties. Secondly, the use of carbon nanotubes as additives in structural reinforcement applications enhances the strength and durability of materials, making them ideal for various industries such as aerospace and automotive. Lastly, the increasing demand for lightweight and durable materials in consumer electronics, energy storage, and construction further fuels the market growth. Carbon nanotubes' unique properties, including their high aspect ratio, large surface area, and excellent mechanical strength, make them a valuable addition to numerous industries and applications.

What will be the Size of the Carbon Nanotube Market During the Forecast Period?

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Carbon Nanotube Market Segmentation

The carbon nanotube market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in 'USD Billion' for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

Product Outlook

  MWCNT
  SWCNT





Application Outlook

  CPC
  Electronics
  EBC
  Automotive and others





Region Outlook

  North America

    The U.S.
    Canada


  South America

    Chile
    Brazil
    Argentina 





  Europe

    The U.K.
    Germany
    France
    Rest of Europe





  APAC

    China
    India





  Middle East & Africa

    Saudi Arabia
    South Africa
    Rest of the Middle East & Africa

By Product

The market share growth by the MWCNT segment will be significant during the forecast period. Multi-walled carbon nanotubes (MWCNTs) consist of several cylindrical-shaped tubes that are easier to produce in large quantities compared with SWCNTs. The diameter of an MWCNT is around 30 nm, whereas SWCNTs are typically in the range of 0.7 nm-2.0 nm.

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The MWCNT segment was the largest segment and was valued at USD 1.13 billion in 2018. MWCNTs have been commercialized extensively, and they are mainly used for the manufacture of chemicals, plastics, composites, electronics, energy devices, batteries, capacitors, air and liquid filtration devices, and others. The lack of technical know-how regarding the manufacture of SWCNTs has resulted in the growth of the demand for MWCNTs as several manufacturing facilities support the high-volume production of MWCNTs, and further investments toward building a greater number of facilities for MWCNT production are driving the growth of the market during the forecast period.

By Application

Carbon nanotubes are used to manufacture chemicals, plastics, and composites (CPC). They can be found in several products, which have been listed below: Armor Bicycle components Conductive plastics Marine paints Flat panel displays Sports equipment (such as golf clubs) One of the major drivers for the growth of this market segment is the increasing adoption of composites across several industries. Carbon nanotubes have also been used to improve the tensile strength of several commodities of daily use, such as golf clubs and bicycle tires. Another driver for the growth of the segment is the increasing use of carbon nanotubes for manufacturing surface coatings. Thus, the increase in the use of carbon nanotubes in chemicals, plastics and composites drives the growth of the carbon nanotube market during the forecast period.

Regional Overview

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APAC is estimated to contribute 54% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The presence of a substantial number of carbon nanotube manufacturers in APAC is the key reason for the region's dominance in the market. Carbon nanotubes can be used to manufacture supercapacitors, which can be integrated into electric vehicles and used to power satellites and several other applications. China is one of the top countries when it comes to graphene- and carbon nanotube-related research. This is possible mainly because of favourable government policies, funding, and world-leading academic research conducted in the country.

Additionally, the growing plastic and composite industries in China and India, owing to the increasing domestic demand, are expected to drive the demand for carbon nanotubes. The

Multi Walled Carbon Nanotube Market Outlook

The global market size for Multi Walled Carbon Nanotubes (MWCNT) was valued at approximately USD 2.1 billion in 2023 and is projected to reach USD 5.9 billion by 2032, growing at a compound annual growth rate (CAGR) of 12.1% during the forecast period. This significant growth is driven by a multitude of factors, including advancements in nanotechnology, increasing demand from various end-use industries, and the superior mechanical and electrical properties of MWCNTs.

One of the primary growth factors fueling the MWCNT market is the rapid advancements in nanotechnology and material science. These advancements have led to the development of new applications and enhanced performance characteristics of MWCNTs. For instance, their exceptional electrical conductivity, mechanical strength, and thermal properties make them ideal for use in a wide range of applications, from electronics to energy storage and even medical devices. The ongoing research and development in this field are likely to uncover even more uses for MWCNTs, further driving market growth.

Another significant growth factor is the increasing demand for lightweight, high-strength materials in various industries such as aerospace and automotive. The aerospace industry, in particular, is increasingly adopting MWCNTs to produce lighter yet stronger components, which can significantly improve fuel efficiency and reduce emissions. Similarly, the automotive industry is exploring the use of MWCNTs in composite materials for vehicle parts to enhance performance and sustainability. These industry-specific demands are expected to contribute substantially to the market's expansion over the forecast period.

The rise in consumer electronics is also a crucial driver for the MWCNT market. The need for miniaturized, more efficient electronic devices has never been higher, and MWCNTs offer the perfect solution due to their excellent electrical conductivity and thermal management properties. From batteries and supercapacitors to flexible displays and advanced sensors, the applications in the electronics sector are vast and continually growing. This trend is particularly evident in regions with high technology adoption rates, such as North America and Asia Pacific, which are expected to be major contributors to market growth.

Regionally, the Asia Pacific is expected to lead the MWCNT market, driven by significant investments in electronics, automotive, and energy sectors. Countries like China, Japan, and South Korea are at the forefront of technological advancements and industrial applications of MWCNTs. Additionally, North America and Europe are also expected to witness considerable growth due to the increasing adoption of MWCNTs in aerospace and defense applications, coupled with strong research and development activities. Latin America and the Middle East & Africa, while smaller markets, are also expected to show steady growth as industries in these regions begin to adopt advanced materials.

Product Type Analysis

The Multi Walled Carbon Nanotube market can be segmented by product type into MWCNT Powder, MWCNT Dispersion, and MWCNT Sheet. Each of these product types offers unique advantages and finds applications in different industries. MWCNT Powder is one of the most commonly used forms due to its versatility and ease of integration into various composite materials. This form is particularly favored in the manufacturing of lightweight, high-strength materials for aerospace and automotive applications, where weight saving without compromising strength is crucial.

MWCNT Dispersion is another significant segment that is gaining traction, especially in the electronics and medical industries. Dispersions can be easily integrated into solutions and coatings, making them ideal for applications requiring uniform distribution of MWCNTs. For instance, in the production of conductive inks and coatings, MWCNT dispersions ensure consistent electrical properties, which are essential for high-performance electronic devices. Additionally, the medical industry is exploring MWCNT dispersions for drug delivery systems and other biomedical applications, thanks to their biocompatibility and functionalization capabilities.

MWCNT Sheets, although a smaller segment, are increasingly being used in applications requiring large surface areas and uniform properties. These sheets are particularly useful in energy storage devices like supercapacitors and batteries, where they can significantly enhance performance by providing high surface area for charge st

Carbon Nanotubes Market size was valued at USD 10.58 Billion in 2024 and is projected to reach USD 34.14 Billion by 2032, growing at a CAGR of 17.40% during the forecasted period 2026 to 2032.

Global Carbon Nanotubes Market Drivers

The carbon nanotubes (CNTs) market is driven by several key factors, including their exceptional mechanical, electrical, and thermal properties, which make them highly desirable in various applications such as electronics, energy storage, and composite materials. The increasing demand for lightweight and strong materials in the automotive and aerospace industries, along with advancements in nanotechnology and manufacturing processes, has significantly boosted CNT adoption. Additionally, the growing emphasis on renewable energy sources and the development of efficient energy storage systems, like lithium-ion batteries and supercapacitors, further propel the market. Environmental regulations promoting the use of sustainable and high-performance materials also contribute to the rising demand for carbon nanotubes.

Bisresearch undertakes detailed study report on Global Carbon Nanotube Market. The report analyses key market report, size, survey, study, trends & opportunities.

Carbon Nanotubes Market was valued at USD 7.6 Billion, and is expected to reach USD 31.3 Billion in 2032, At a CAGR of 15.2%

This statistic shows the market size of carbon nanotubes worldwide from 2012 to 2014, with forecasted figures for 2015 to 2022, by application. It is forecasted that the market size of carbon nanotubes for polymers will be some 14,400 tons in 2022.

Carbon Nanotubes Market - Global Industry Insights, Size, Share, Trends, Outlook, and Opportunity Analysis

Carbon Nanotube Market Outlook 2032

The global carbon nanotube market size was USD 1.1 Billion in 2023 and is likely to reach USD 3.1 Billion by 2032, expanding at a CAGR of 14.6% during 2024–2032. The market growth is attributed to the high demand for lightweight and durable materials across the globe.



Increasing demand for lightweight and durable materials in various industries is driving the carbon nanotube market. Carbon nanotubes (CNTs) are cylindrical molecules that consist of rolled-up sheets of single-layer carbon atoms. They possess unique properties such as high thermal conductivity, mechanical strength, and electrical conductivity, making them suitable for a wide range of applications. Industries such as aerospace, automotive, and electronics are constantly seeking materials that can withstand harsh conditions while reducing overall weight. CNTs, with their high strength-to-weight ratio, are becoming the material of choice for these industries.

Impact of Artificial Intelligence (AI) in Carbon Nanotube Market

The use of artificial intelligence is likely to boost the carbon nanotube market. AI, with its ability to analyze vast amounts of data and identify patterns, is accelerating research and development in the field. It aids in predicting the properties of new CNT structures, thus reducing the time and cost associated with experimental testing. Furthermore, AI is streamlining the manufacturing process. It optimizes the parameters for chemical vapor deposition and other production methods, ensuring the creation of high-quality CNTs in a cost-effective manner.



AI's predictive maintenance capabilities minimize downtime in the production process, boosting overall efficiency. AI-powered imaging systems detect defects in CNTs with greater accuracy than human inspectors, ensuring only the highest quality products reach the market, in the realm of quality control. Its impact on the CNT market is expected to grow, as AI continues to evolve, driving innovation and efficiency at every stage of the value chain.

Carbon Nanotube Market Dynamics

Global Carbon Nanotubes (CNT) Market Size, Share, Trends, Growth, Forecast 2028, By Type, By Method, By Application, By End User, By Company, By Region, Competition Forecast and Opportunities

The India Carbon Nanotubes (CNT) Market size is valued at USD 37.5 Billion in 2023, driven by market opportunities, sector trends, and strategic insights. Explore market segmentation, growth projection, and key players.

Carbon Nanotubes Market is predicted to have a value of USD 153.3 Billion By 2034, with an annualized growth rate (CAGR) of 15.3% during the forecast period

The product market includes two primary types:Single-Walled Carbon Nanotubes (SWCNTs): SWCNTs consist of a single layer of graphene rolled into a tube, offering exceptional electrical and thermal conductivity.Multi-Walled Carbon Nanotubes (MWCNTs): MWCNTs comprise multiple concentric layers of graphene, providing enhanced mechanical strength and flexibility. Recent developments include: In April 2023, NEC Corporation created the first ever sensitivity uncooled infrared image sensor using pure semiconductor carbon nanotubes (CNTs) for infrared sensing. To achieve this, NEC employed its unique extraction technique., In May 2023, LG Chem Ltd. announced that it had broken ground on a fourth carbon nanotube (CNT) plant in South Korea that will ultimately increase production of this vital industrial material by more than three times over the coming years. The CNT 4 factory, to be located at LG Chem’s Daesan site in Seosan, will raise the total CNT production capacity of the chemical firm to 6,100 tons when it comes online in 2025. It currently produces about 2,900 tons per year., In January 2023, MG Motor India announced an investment of USD 100 million to expand its capacity. Mahindra & Mahindra revealed plans in December 2022 to invest INR 10,000 crore (USD 1.2 billion) in an EV manufacturing plant in Pune. This investment underscores the increasing importance of the EV sector., May 2023: LG CHEM announced a new factory being built at its Daesan location in South Korea. The plant is scheduled for completion by 2025. This was achieved through expansion, thereby doubling LG Chem’s annual CNT production capability to reach as high as 6,100 tons and strengthen its product portfolio., January 2023: Showa Denko KK and Showa Denko Materials Co., Ltd merged on January 1, 2023, into two new companies - a holding company named “ResonacHoldings Corporation” and a manufacturing firm branded “ResonacCorporation”.. Notable trends are: The footwear industry is growing rapidly..

The Carbon Nanotubes (CNT) Market size will exceed a valuation of USD 11,883.70 million by 2034, to grow at a CAGR of 13.9% during the forecast period.

Global Carbon Nanotube market size is expected to reach $10.9 billion by 2029 at 16.5%, segmented as by product, single walled nanotubes, multi walled nanotubes