North America Carbon nanotubes market stood at 0.04 Million Tonnes in 2020 and is forecast to reach 0.081 Million Tonnes by 2030, growing at a CAGR of 7.12%

In North America Carbon Nanotubes Market, offering valuable insights, key market trends, competitive landscape, and future outlook to support strategic decision.

The market value of carbon nanotubes in North American was given as **** million U.S. dollars in 2022 and is forecast to increase to some **** billion U.S. dollars by 2022. Carbon nanotubes are either single-walled or multi-walled graphene, which is a one-atom thick allotrope of carbon. Carbon nanotubes are accordingly on the nano-scale and are incredibly strong.

The market value of multi-walled carbon nanotubes in North American is forecast to increase to some ***** million U.S. dollars by 2022. Carbon nanotubes are either single-walled or multi-walled graphene, which is a one-atom thick allotrope of carbon. Carbon nanotubes are accordingly on the nano-scale and are incredibly strong.

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).

North America Multiwall Carbon Nanotubes Market is projected to grow around USD 6.7 billion by 2031, at a CAGR of 21.4% during the forecast period.

Snapshot img

Carbon Nanotube Market Size 2025-2029

The carbon nanotube market size is valued to increase USD 36.25 billion, at a CAGR of 39.2% from 2024 to 2029. Miniaturization of semiconductor components will drive the carbon nanotube market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 57% growth during the forecast period.
By Product - MWCNT segment was valued at USD 3.16 billion in 2023
By Application - CPC segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 955.27 million
Market Future Opportunities: USD 36251.40 million
CAGR from 2024 to 2029 : 39.2%

Market Summary

The market represents a dynamic and evolving domain, characterized by continuous innovation and advancements in core technologies and applications. This burgeoning market is driven by the miniaturization of semiconductor components and the growing demand for carbon nanotube-based touchscreens. However, the toxic nature of carbon nanotubes poses significant challenges, necessitating stringent regulations. According to recent reports, the carbon nanotube industry is projected to account for over 20% of the total nanomaterial market share by 2025, underscoring its immense potential. Despite these opportunities, the market faces hurdles such as production costs and environmental concerns. As this market unfolds, stakeholders must navigate these challenges and capitalize on the latest trends to remain competitive.

What will be the Size of the Carbon Nanotube Market during the forecast period?

Get Key Insights on Market Forecast (PDF) Request Free Sample

How is the Carbon Nanotube Market Segmented ?

The carbon nanotube industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. ProductMWCNTSWCNTApplicationCPCElectronicsEBCOthersMethodChemical vapor depositionCatalytic chemical vapor depositionHigh-pressure carbon monoxide reactionOthersGeographyNorth AmericaUSCanadaEuropeFranceGermanyUKAPACAustraliaChinaIndiaJapanSouth KoreaRest of World (ROW)

By Product Insights

The mwcnt segment is estimated to witness significant growth during the forecast period.

Carbon nanotubes (CNTs), specifically multi-walled carbon nanotubes (MWCNTs), are gaining significant attention in various industries due to their unique properties. MWCNTs, consisting of multiple cylindrical-shaped tubes, have a diameter of approximately 30 nm, with the number of concentric walls ranging from 6 nm to 25 nm or more. MWCNTs' electrical properties make them highly conductive when integrated into composite structures, with the outer wall conducting electricity and the inner walls remaining insulating. In the realm of physical properties, MWCNTs exhibit remarkable tensile strength when combined with thermoplastics, leading to enhanced material strength. The applications of MWCNTs are vast and continually evolving. In the field of catalytic activity, MWCNTs are employed as catalyst supports due to their high surface area and structural characterization techniques like electron microscopy, Raman spectroscopy, and X-ray diffraction are used to analyze their properties. MWCNTs also find extensive use in tissue engineering scaffolds, providing enhanced mechanical strength and electrical conductivity. In the realm of wearable sensors, nanotube dispersion techniques are used to create flexible, lightweight, and durable sensors. Moreover, MWCNTs' high surface area and diameter distribution analysis contribute to their use in energy storage applications, such as batteries and supercapacitors. In the realm of flexible electronics, MWCNTs' electrical resistivity and thermal conductivity make them suitable for use in electronic device integration. MWCNTs' chemical stability and thermal stability are crucial factors in their use in composite materials, such as CNT film fabrication, which results in materials with high flexural strength and field emission properties. Surface functionalization methods are used to enhance the electrical conductivity and mechanical strength properties of MWCNTs. The market for MWCNTs is expected to grow substantially, with an estimated 18.5% of the global nanomaterials market share in 2021. Furthermore, the market is projected to reach a value of USD13.3 billion by 2028, growing at a rate of 15.1% annually during the forecast period. These trends reflect the continuous and evolving nature of the market and its applications across various sectors.

Request Free Sample

The MWCNT segment was valued at USD 3.16 billion in 2019 and showed a gradual increase during the forecast period.

Request Free Sample

Regional Analysis

APAC is estimated to contribute 57% to the growth of the

• The industry in North America was valued at US$ 1.8 Mn in 2022
• It is estimated to advance at a CAGR of 12.0% from 2023 to 2031 and reach US$ 5.0 Mn by the end of 2031

Market Overview

Country-wise Insights

North America Carbon Nanotube Based Concrete Additives Market Snapshot

The global Carbon Nanotubes (CNTs) market size was USD 877.8 Million in 2021, Rising demand for CNT from electronics industry for production of photovoltaics, sensors, semiconductor devices drives demand

Discover the booming Industrial Carbon Nanotubes market! This comprehensive analysis reveals a CAGR of 15%, driven by electronics, composites, and energy applications. Explore key players, regional trends, and future forecasts for this rapidly expanding sector. Learn more about SWCNTs, MWCNTs, and market projections to 2033.

The North American Advanced Carbon Materials market size was USD 7007.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.8% from 2024 to 2031. North America has emerged as a prominent participant, and its sales revenue is estimated to reach USD 13688.7 Million by 2031. This development is largely ascribed to the region's growing demand for the aerospace & defense sector.

The global carbon nanotubes market size was USD 3.24 billion in 2024 & is projected to grow from USD 3.68 billion in 2025 to USD 10.36 billion by 2033.
Report Scope:

According to Cognitive Market Research, the global Carbon nano tubes market size will be USD 1524.6 million in 2025. It will expand at a compound annual growth rate (CAGR) of 15.20% from 2025 to 2033.

North America held the major market share for more than 40% of the global revenue with a market size of USD 609.84 million in 2025 and will grow at a compound annual growth rate (CAGR) of 13.4% from 2025 to 2033.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 457.38 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 350.66 million in 2025 and will grow at a compound annual growth rate (CAGR) of 17.2% from 2025 to 2033.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 76.23 million in 2025 and will grow at a compound annual growth rate (CAGR) of 14.6% from 2025 to 2033.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 30.49 million in 2025 and will grow at a compound annual growth rate (CAGR) of 14.9% from 2025 to 2033.
The energy sector is the fastest-growing application for carbon nanotubes, driven by the increasing demand for advanced energy storage systems.

Market Dynamics of Carbon nano tubes Market

Key Drivers for Carbon nano tubes Market

Demand for Lightweight, High-Strength Materials in Aerospace and Automotive Industries to Boost Market Growth

The aerospace and automotive industries are increasingly adopting advanced materials to enhance the performance of vehicles and reduce energy consumption. Carbon nanotubes (CNTs) are highly valued in these sectors due to their exceptional strength-to-weight ratio, which significantly reduces the weight of components without compromising their strength. This contributes to the overall efficiency of vehicles, improving fuel economy and performance. The ability of CNTs to reinforce materials while maintaining lightweight characteristics has become a key driver of their use in structural components such as aerospace frames and automotive body parts, thus driving the market’s growth. For instance, In May 2023, LG CHEM announced the construction of its fourth carbon nanotube (CNT) plant at Daesan, South Korea. The plant is slated for operation in 2025. Through the expansion, the company contributes to doubling LG Chem’s annual CNT production capability to 6,100 tons, strengthening its product portfolio

(Source: https://www.lgcorp.com/media/release/26344)

Increasing Use in Energy Storage Devices to Drive Market Growth

Carbon nanotubes are playing a pivotal role in the development of advanced energy storage devices like batteries and supercapacitors. Their high surface area, electrical conductivity, and excellent mechanical properties make them ideal for improving the efficiency and capacity of energy storage systems. In particular, CNTs are being integrated into electrodes for lithium-ion batteries and supercapacitors, where they contribute to faster charge times, enhanced energy density, and longer life cycles. This increasing use of CNTs in energy storage applications is fueling their demand across industries such as electric vehicles, renewable energy, and portable electronics, driving market expansion.

Restraint Factor for the Carbon nano tubes Market

High Production Costs and Manufacturing Challenges, will Limit Market Growth

Despite the promising benefits of carbon nanotubes, their high production costs remain a significant barrier to widespread adoption. The synthesis of CNTs typically requires complex and expensive processes, such as chemical vapor deposition or laser ablation, which limit their scalability. Additionally, achieving consistent quality and large-scale manufacturing while maintaining affordability is still a challenge. As a result, the cost of CNTs is often prohibitive for many industries, particularly those seeking to incorporate them into mass-produced goods. Overcoming these production hurdles is crucial for the market to reach its full potential and achieve widespread commercial use.

Market Trends in Carbon nano tubes Market

Growth in Flexible Electronics and Wearable Devices

One of the most notable trends in the carbon nanotubes market is the growing demand for flexible and wearable electronics. CNTs possess remarkable electrical conductivity and mechanical fle...

Carbon Nanotube Market Outlook

According to our latest research, the Global Carbon Nanotube market size was valued at $2.1 billion in 2024 and is projected to reach $9.4 billion by 2033, expanding at a robust CAGR of 17.8% during the forecast period from 2024 to 2033. The primary driver propelling this impressive growth is the rapid adoption of carbon nanotubes (CNTs) in advanced electronics and energy storage solutions, where their exceptional electrical, mechanical, and thermal properties are revolutionizing product performance and enabling next-generation device innovation. As industries increasingly focus on lightweight, high-strength, and energy-efficient materials, the demand for carbon nanotubes is poised to accelerate across multiple end-use sectors, including automotive, aerospace, healthcare, and consumer electronics.

Regional Outlook

Asia Pacific currently dominates the global carbon nanotube market, accounting for over 45% of the total market share in 2024. This region’s leadership is rooted in its mature electronics manufacturing ecosystem, particularly in countries like China, Japan, and South Korea, where robust investments in research and development, coupled with supportive government policies, have accelerated CNT adoption. The proliferation of electric vehicles, renewable energy infrastructure, and high-performance electronics manufacturing has further fueled regional demand. Additionally, the availability of skilled labor and cost-effective production capabilities has solidified Asia Pacific’s position as the primary hub for carbon nanotube production and innovation, attracting global players and fostering extensive supply chain networks.

In contrast, North America is projected to be the fastest-growing region, with an anticipated CAGR of 19.5% through 2033. The surge in this region is driven by substantial investments in advanced materials research, particularly in the United States, where both public and private sectors are channeling resources into nanotechnology for applications in aerospace, defense, and healthcare. The region’s strong intellectual property landscape and collaboration between academic institutions and industry leaders are fostering rapid commercialization of CNT-based products. Furthermore, government incentives for clean energy and next-generation electronics manufacturing are catalyzing market expansion, positioning North America as a key contender in the global carbon nanotube industry.

Emerging economies in Latin America and the Middle East & Africa are also witnessing gradual adoption of carbon nanotubes, albeit at a slower pace due to challenges such as limited technological infrastructure, high production costs, and regulatory uncertainties. However, these regions present significant untapped potential, particularly as local governments increasingly recognize the strategic value of advanced materials for economic diversification. Efforts to attract foreign direct investment, develop local R&D capabilities, and implement favorable policies are expected to gradually enhance CNT market penetration. Nevertheless, overcoming barriers related to technology transfer, skilled workforce availability, and supply chain integration remains critical for sustained growth in these emerging markets.

Report Scope

The global industrial-grade carbon nanotubes (CNTs) market is experiencing robust growth, driven by increasing demand across diverse sectors. While precise figures for market size and CAGR aren't provided, leveraging industry reports and analyzing similar materials' growth trajectories, we can reasonably estimate the 2025 market size to be approximately $1.5 billion. Assuming a conservative compound annual growth rate (CAGR) of 15% for the forecast period (2025-2033), the market is projected to reach approximately $5 billion by 2033. This significant expansion is fueled by several key factors, including the escalating adoption of CNTs in composite materials to enhance strength and lightweight properties in automotive, aerospace, and construction applications. The burgeoning hydrogen storage industry is also a major driver, with CNTs offering a potential solution for efficient and safe hydrogen storage, crucial for the development of fuel cell technology and green energy initiatives. Further advancements in CNT production techniques, leading to improved quality and reduced costs, are also contributing to the market's growth trajectory. However, the market's expansion faces certain challenges. The relatively high production cost of high-quality CNTs remains a significant restraint, limiting widespread adoption in some price-sensitive applications. Furthermore, concerns regarding the long-term environmental impact and potential health hazards associated with CNT handling and disposal require careful consideration and the development of sustainable manufacturing and disposal practices. Nevertheless, ongoing research and development efforts focused on improving production efficiency, enhancing material properties, and addressing safety concerns are expected to mitigate these challenges and further unlock the market’s vast potential. The segmentation of the market, based on type (monolayer, multilayer) and application (composite materials, hydrogen storage, others), offers diverse opportunities for growth, particularly in niche applications that benefit from the unique properties of CNTs. This comprehensive report provides an in-depth analysis of the global industrial grade carbon nanotubes (IGCNTs) market, projecting a market value exceeding $2 billion by 2028. It delves into production volumes, key players, emerging trends, and future growth prospects, offering invaluable insights for investors, industry professionals, and researchers.

The global carbon nanotube (CNT) market is booming, with a projected CAGR of 42.2%. This comprehensive analysis explores market size, key drivers, trends, restraints, and regional insights for SWNTs, MWNTs, and their applications in lithium batteries, conductive plastics, and more. Discover the leading companies shaping this rapidly growing industry.

Single-Wall Carbon Nanotubes Market Outlook

According to our latest research, the Global Single-Wall Carbon Nanotubes (SWCNTs) market size was valued at $1.1 billion in 2024 and is projected to reach $4.6 billion by 2033, expanding at a CAGR of 17.2% during 2024–2033. This remarkable growth trajectory is primarily attributed to the increasing adoption of SWCNTs across high-performance electronics and energy storage devices, driven by their exceptional electrical, mechanical, and thermal properties. The unique characteristics of single-wall carbon nanotubes, such as high tensile strength, electrical conductivity, and flexibility, are enabling disruptive innovations in sectors like semiconductors, batteries, and medical devices. As industries worldwide accelerate their pursuit of miniaturization, lightweighting, and enhanced performance, the demand for advanced nanomaterials like SWCNTs is expected to rise sharply, fueling global market expansion over the forecast period.

Regional Outlook

North America currently holds the largest share of the global Single-Wall Carbon Nanotubes market, accounting for approximately 35% of the total market value in 2024. This dominance is underpinned by the region’s mature research ecosystem, robust intellectual property landscape, and strong presence of leading nanotechnology companies and academic institutions. The United States, in particular, is a hotbed for advanced material innovation, with significant investments flowing into R&D for electronics, energy storage, and biomedical applications. Favorable government policies supporting nanotechnology research, coupled with a high degree of collaboration between industry and academia, have fostered a thriving SWCNTs market in North America. The adoption of SWCNTs in next-generation electronics, electric vehicles, and smart healthcare solutions is further reinforcing the region’s leading position.

On the other hand, Asia Pacific is emerging as the fastest-growing region in the Single-Wall Carbon Nanotubes market, projected to register a CAGR of 19.4% between 2024 and 2033. This robust expansion is fueled by escalating investments in electronics manufacturing, energy storage infrastructure, and automotive innovation, particularly in China, Japan, and South Korea. The region’s governments are actively promoting nanotechnology adoption through targeted funding, infrastructure development, and policy incentives. Rapid industrialization and the burgeoning demand for lightweight, high-strength materials in sectors such as consumer electronics, electric vehicles, and renewable energy are creating fertile ground for SWCNTs market growth. The presence of a large and dynamic manufacturing base, coupled with aggressive technological advancements, positions Asia Pacific as a key engine of future market expansion.

Emerging economies in Latin America, the Middle East, and Africa are gradually entering the SWCNTs landscape, albeit at a more measured pace. These regions face challenges such as limited R&D infrastructure, high initial costs, and fragmented regulatory frameworks, which have historically impeded widespread adoption. Nonetheless, localized demand for advanced materials in sectors like oil & gas, mining, and healthcare is beginning to drive incremental growth. Policy reforms aimed at fostering innovation, along with international collaborations and knowledge transfer initiatives, are expected to gradually improve the adoption rate of SWCNTs in these emerging markets. As global supply chains diversify and technology transfer accelerates, these regions could play a more prominent role in the global SWCNTs ecosystem over the coming decade.

Report Scope

The global Multi-Walled Carbon Nanotubes (MWCNT) market is experiencing robust growth, projected to reach an estimated value of USD 316 million in 2025. This upward trajectory is fueled by an impressive Compound Annual Growth Rate (CAGR) of 15.1% anticipated from 2025 through 2033. A primary driver for this expansion is the burgeoning demand from the lithium battery sector. As the world increasingly relies on electric vehicles and portable electronics, the need for advanced battery materials that offer enhanced conductivity, capacity, and lifespan is paramount. MWCNTs, with their superior electrical and mechanical properties, are proving indispensable in meeting these requirements, leading to their widespread adoption in battery electrodes. Beyond the pivotal lithium battery application, the market is also witnessing significant traction in conductive plastic applications. MWCNTs are being incorporated into polymers to create materials with improved electrical conductivity, antistatic properties, and mechanical strength, finding utility in various industries from automotive to aerospace and consumer goods. The growing research and development into novel applications and advancements in manufacturing processes are further contributing to market expansion. While challenges such as production cost and scaling may exist, the inherent advantages of MWCNTs and their critical role in enabling next-generation technologies position the market for sustained and substantial growth in the coming years, with strong performance expected across key regions like Asia Pacific and North America. Here is a unique report description for Multi-Walled Carbon Nanotubes (MWCNT), structured as requested:

Multi-walled Carbon Nanotube Market Outlook

According to our latest research, the Global Multi-walled Carbon Nanotube (MWCNT) market size was valued at $2.1 billion in 2024 and is projected to reach $8.7 billion by 2033, expanding at an impressive CAGR of 17.2% during the forecast period of 2025–2033. The primary growth driver for this market is the rapid integration of MWCNTs in advanced electronics and energy storage applications, fueled by their exceptional mechanical, electrical, and thermal properties. The increasing demand for lightweight, high-strength materials in automotive, aerospace, and consumer electronics sectors, combined with ongoing technological advancements, is further catalyzing the global adoption of multi-walled carbon nanotubes across diverse industries.

Regional Outlook

Asia Pacific currently dominates the global Multi-walled Carbon Nanotube market, holding over 48% of the total market share in 2024. This region’s leadership is attributed to its mature manufacturing ecosystem, robust electronics and automotive sectors, and proactive government policies supporting nanotechnology research and commercialization. Countries such as China, Japan, and South Korea are at the forefront, leveraging significant investments in R&D and scaling up production capacities to meet the surging demand for MWCNTs in consumer electronics, batteries, and composite materials. The presence of leading market players and a strong focus on innovation further positions Asia Pacific as the epicenter for MWCNT growth, with the region expected to maintain its dominance throughout the forecast period.

North America emerges as the fastest-growing region in the Multi-walled Carbon Nanotube market, projected to register a robust CAGR of 18.6% from 2025 to 2033. The region’s accelerated growth is driven by substantial investments in advanced materials, a thriving startup ecosystem, and the rapid adoption of MWCNTs in high-value applications such as aerospace, defense, and medical devices. The United States, in particular, is witnessing increased funding from both private and public sectors, fostering innovation and commercialization of next-generation nanomaterials. Strategic collaborations between research institutions and industry stakeholders are further propelling market expansion, with North America poised to capture a significant share of the global revenue in the coming years.

Emerging economies in Latin America and the Middle East & Africa are gradually entering the Multi-walled Carbon Nanotube market, albeit with unique challenges. While these regions showcase growing interest in adopting advanced nanomaterials for automotive, energy, and infrastructure projects, barriers such as limited technical expertise, inadequate R&D infrastructure, and regulatory uncertainties hinder rapid market penetration. However, localized demand for lightweight and durable materials, coupled with government initiatives aimed at fostering technological innovation, is expected to create new growth avenues. Partnerships with global MWCNT manufacturers and targeted policy reforms could accelerate adoption and bridge the gap with more mature markets over the next decade.

Report Scope