.webp)
Carbon Nanotubes Market size is expected to surpass USD 4.5 Billion by the end of 2035, growing at a CAGR of 20% during the forecast period i.e., 2023-2035. In the year 2022, the industry size of carbon nanotubes was over USD 800 Million.Carbon nanotubes (CNTs) can be used to produce geometrical, irregular, or intricate shapes and designs at a low cost, hence they are implemented in the automotive industry to create long-lasting anti-corrosive bodies.
Moreover, the rising demand for lithium-ion batteries is augmenting the carbon nanotubes market growth. Carbon nanotubes are great anode material for Li-ion batteries since they have unique electrical and mechanical properties. Further, the open & chiral structure of CNT improves the electrical conductivity in these batteries.
Growth Drivers
Challenges
|
Base Year |
2022 |
|
Forecast Year |
2023-2035 |
|
CAGR |
~ 20% |
|
Base Year Market Size (2022) |
~ USD 800 Million |
|
Forecast Year Market Size (2035) |
~ USD4.5 Billion |
|
Regional Scope |
|
End Users (Electronics & Semiconductors, Plastic & Composites, Energy & Storage, Medical)
The plastic & composites segment is expected to garner a significant carbon nanotubes market share of around 35% by 2035. Carbon nanotubes are rapidly being employed in several plastic and composite materials for SE due to their exceptionally high electrical conductivity.
These CNT-infused plastics find uses in electronic devices sensors, conductive coatings, and others. On the other hand, it also improves the thermal conductivity of the composites by almost 104% and is used in heat sinks, electronic cooling, and thermal interface materials.
Type (Single Walled, Multi Walled)
The multi-walled segment is poised to gain the largest market share of about 38% in the year 2035. The multi-walled segment has various applications, including solar industries, batteries, nanodevices, displays, electrodes, power conductivity, and others.
Additionally, the presence of graphene in multi-walled carbon nanotubes provides extra tensile strength when utilized in various applications.
Our in-depth analysis of the global market includes the following segments:
|
Type |
|
|
Technology |
|
|
End Users |
|
APAC Market Statistics
The carbon nanotubes market share in Asia Pacific is projected cross 32% by 2035. Rising government initiatives to reduce carbon emission is likely to drive the market growth.
For instance, fuel efficiency standards have been established by the Ministry of Industry and Information Technology (MIIT) to alleviate fuel supply and demand imbalances, reduce pollutants, and improve the atmospheric environment. CNT is used as a support material in a fuel conversion process in a fuel cell or catalytic converters.
North American Market Forecast
The North American carbon nanotubes market will be the second largest, registering a share of more than 26% by the end of 2035. The expansion of the industry is ascribed to rising investment in various polymers upcycling and research. Carbon nanotubes are also produced from plastic waste which also enhances the economic feasibility of the waste management process.
Furthermore, the plastic derived CNT is used as a strengthening material in various industries. The United States Department of Energy (DOE) stated that it will invest USD 25 million in basic research to create the framework for technology that finds uses for plastic waste.
Author Credits: Smruti Ranjan, Rajrani Baghel
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?