Carbon Nanotubes Market Size & Share, by Type (Single Walled, Multi Walled); Technology (Arc Discharge, Laser Ablation, Catalytic CVD, High-Pressure Carbon Monoxide, CoMoCAT, Floating Catalyst); End Users (Electronics & Semiconductors, Plastic & Composites, Energy & Storage, Medical) – Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

Buy Now Report ID: 4956 | Published Date: May 22, 2023

Global Carbon Nanotubes Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Carbon Nanotubes Market size was USD 800 Million in 2022 and is estimated to reach USD 4.5 Billion by the end of 2035, growing at a CAGR of 20% from 2023 to 2035. 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.

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Carbon Nanotubes Market: Key Insights


Base Year


Forecast Year



~ 20%

Base Year Market Size (2022)

~ USD 800 Million

Forecast Year Market Size (2035)

~ USD4.5 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Global Carbon Nanotubes Sector: Growth Drivers and Challenges


Growth Drivers

  • Rising Expansion of Aerospace Industry – With the growth of the aerospace industry, the need for manufacturing more aircraft is also rising. The engineers of MIT have introduced faster manufacturing of aerospace-grade composites by using carbon nanotubes. This process eliminated the need for huge ovens and autoclaves and also minimizes the time for production, boosting the carbon nanotubes market revenue.
  • Growing Need for Boosting the Fuel Efficiency in Vehicles – Carbon nanotubes are specifically employed in the fuel component system of vehicles to enhance their performance. Along with the improved efficiency of fuel cells, carbon nanotubes also act as a catalyst by replacing the need for precious metals in the fuel cell.
  • Increasing Demand for Electronics and Electrical Sector – Carbon nanotubes have great electrical conductivity, thus making them ideal for electronic applications. They find applications in making thin-film display devices and their nanosensors. There are also known as coveted materials for manufacturing new and advanced electronic devices.


  • Negative Impact on Human Health and on Environment – Carbon nanotubes, as colloids, might enter easily into the environment via water. In the meantime, it has been demonstrated that the tubes can pierce cell barriers and hence permeate animal or human cells. Also, carbon nanotube is fibrous in nature, they can easily be inhaled by humans and affects the pulmonary system, causing as severe as lung cancer.
  • Production is slowed by environmentally friendly technology
  • Expensive preparation conducive conditions for the CNT

Carbon Nanotubes Segmentation

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 carbon nanotubes market includes the following segments:


  • Single Walled
  • Multi Walled




  • Arc Discharge
  • Laser Ablation
  • Catalytic CVD
  • High-Pressure Carbon Monoxide
  • CoMoCAT
  • Floating Catalyst
  • Others

    End Users

  • Electronics & Semiconductors
  • Plastic & Composites
  • Energy & Storage
  • Medical

Carbon Nanotubes Industry - Regional Synopsis


APAC Market Forecast

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 Statistics

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.

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Companies dominating the Global Carbon Nanotubes Landscape

    • Cabot Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Mechnano
    • Chasm Advanced Materials Inc.
    • Showa Denko K.K.
    • Thomas Swan And Co. Ltd.
    • Tokyo Chemical Industry Co. Ltd.
    • Toray Industries Inc.
    • Cheap Tubes, Inc.
    • Hyperion Catalysis International, Inc.
    • LG Chem


In The News

  • March 2021: Cabot Corporation introduced a new ENERMAXTM 6 carbon nanotube (CNT) series. It is the most conductive multi-walled CNT product in Cabot's range due to its high aspect ratio.
  • April 2023: Mechnano collaborated with D’Func and achieved the trademarks of its proprietary process that discreet the CNT dispersion by eliminating the clumped carbon nanotubes. It boosts the electrical and mechanical performance of the company's advanced materials.


Global Economic Impact

Request Insights
Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Author Credits:  Smruti Ranjan, Rajrani Baghel

Key Questions Answered in the Report

1) What are the major factors driving the growth of the carbon nanotubes market?

Ans: Increasing demand for electronics and rising demand for higher fuel efficiency are the major factors driving the market growth.

2) What would be the CAGR of carbon nanotubes market over the forecast period?

Ans: The market size of carbon nanotubes is anticipated to attain a CAGR of ~20% over the forecast period, i.e., 2023 – 2035.

3) What are the challenges affecting the carbon nanotubes market growth?

Ans: The high cost of making appropriate situations for preparing CNT and the adverse impact on humans are estimated to be the growth-hindering factors for the market expansion.

4) Which region will provide more business opportunities for growth of carbon nanotubes market in future?

Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

5) Who are the major players dominating the carbon nanotubes market?

Ans: The major players in the market are Mechnano, Cabot Corporation, Chasm Advanced Materials Inc., Showa Denko K.K., Thomas Swan And Co. Ltd., Tokyo Chemical Industry Co. Ltd., Toray Industries Inc., Cheap Tubes, Inc., Hyperion Catalysis International, Inc., And Lg Chem.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the carbon nanotubes market?

Ans: The market is segmented by type, technology, end-user, and by region.

8) Which segment captures the largest market size in the type segment in the carbon nanotubes market?

Ans: The multi-walled segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

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