Global Carbon Nanotubes Market Size, Share, Growth Analysis Report - Forecast 2034

Carbon Nanotubes Market: Industry Perspective

The global carbon nanotubes market size was worth around USD 1.26 Billion in 2024 and is predicted to grow to around USD 4.08 Billion by 2034 with a compound annual growth rate (CAGR) of roughly 12.5% between 2025 and 2034. The report analyzes the global carbon nanotubes market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the carbon nanotubes industry.

Request Free Sample

The market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global marketspace. The carbon nanotubes industry report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, PESTEL analysis, SWOT analysis, Porter’s five force analysis, and value chain analysis. Additionally, the carbon nanotubes market report explores the investor and stakeholder space to help companies make data-driven decisions.

Carbon Nanotubes Market: Overview

Carbon nanotubes are cylindrical large molecules made up of nanocarbon substances and comprise a hexagonal arrangement of hybridized carbon atoms formed by rolling a sole sheet of graphene or by rolling up many sheets of graphene. Reportedly, these products are new nanocarrier systems finding a slew of applications in the science & engineering domain. In addition to unique nanostructures, these products demonstrate excellent features. Apart from this, the ability of the products to act as carriers of therapeutic molecules along with their capability of manipulating their surfaces as well as their physical dimensions has increased their penetration in thermal conductivity. This has enhanced its use in the killing of cancer tissues.

Carbon Nanotubes Market: Growth Factors

A surge in renewable energy trends to boost the growth of the global market

Growing renewable energy trends are predicted to increase the demand for carbon nanotubes across the globe. Furthermore, escalating demand for wind turbines for power generation has augmented the popularity and use of carbon nanotubes in the power generation industry. In addition to this, favorable government policies such as offering subsidies for power generation ventures will accelerate the global market demand. The thriving construction sector coupled with the humongous use of carbon nanotubes in construction activities will boost the expansion of the global carbon nanotubes market.

The rapidly expanding automotive sector will further contribute to the sizable growth of the carbon nanotubes market globally. In addition to this, carbon nanotubes are utilized in applications requiring huge strength, electric conduction, lightweight features, and thermal conduction. Furthermore, the huge demand for carbon nanotubes in lithium batteries, drug delivery systems, integrated circuits, solar PV cells, field emission displays, and hydrogen storage will spur global market trends.

Restraints:

Growing health hazards caused by coming in contact with carbon nanotubes can hinder the global industry expansion

The easy availability of substitute products can hinder the global carbon nanotubes industry demand. Apart from this, growing environmental concerns and health hazards can pose a big threat to the growth of the global industry.

Opportunities:

Surging product penetration in flat panel displays & hydrogen storage equipment open new growth opportunities for the global market

The immense demand for products in chemical sensors, fibers & composites, flat panels, and hydrogen storage equipment will open novel growth opportunities for the global carbon nanotubes market. In addition to this, surging product penetration in various sectors subject to a reduction in costs and a rise in production capacity will shape the global market demand.

Challenges:

The growing necessity for high-quality products generates a big challenge for the global industry

The need for maintaining high quality along with a decline in the processing costs of various products will create a big challenge for the carbon nanotubes industry growth across the globe.

Key Insights

• As per the analysis shared by our research analyst, the global carbon nanotubes market is estimated to grow annually at a CAGR of around 12.5% over the forecast period (2025-2034).
• Regarding revenue, the global carbon nanotubes market size was valued at around USD 1.26 Billion in 2024 and is projected to reach USD 4.08 Billion by 2034.
• The carbon nanotubes market is projected to grow at a significant rate due to rising demand in electronics, energy storage, and aerospace applications, advancements in material science, and growing investments in nanotechnology research and development.
• Based on Product, the MWCNTs segment is expected to lead the global market.
• On the basis of Application, the Polymers segment is growing at a high rate and will continue to dominate the global market.
• Based on region, North America is predicted to dominate the global market during the forecast period.

Carbon Nanotubes Market: Report Scope

Carbon Nanotubes Market: Segmentation Analysis

The global carbon nanotubes market is segmented based on Product, Application, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2025 to 2034.

Based on Product, the global carbon nanotubes market is divided into MWCNTs, SWCNTs.

On the basis of Application, the global carbon nanotubes market is bifurcated into Polymers, Energy, Electrical & Electronics, Others.

The Regional, this segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America,and the Middle East and Africa.

Recent Breakthroughs:

• In the first half of 2024, a U.S.-based specialty chemicals & performance materials firm referred to as Cabot Corporation introduced a new ENERMAX 6 carbon nanotube series. Reportedly, the product is high-performing carbon nanotubes having a huge aspect ratio and it is in the range of most multi-walled carbon nanotubes products in the product portfolio of Cabot.
• In the first half of 2024, LG Chem Ltd., a chemical firm based in South Korea, established a carbon nanotube production unit in South Korea. Moreover, the firm aims at producing carbon nanotubes that will be used for producing cathodes for electric cars.
• In the second quarter of 2023, Cabot Corporation acquired Shezhen Sanshun Nano New Materials, a major China-based nanotube manufacturer, for nearly USD 115 million. The move will contribute majorly to the expansion of the global carbon nanotube industry.

Carbon Nanotubes Market: Regional Insights

The carbon nanotubes market exhibits strong regional dynamics, with Asia-Pacific dominating due to significant manufacturing activities, robust electronics and automotive sectors, and growing demand for advanced materials in countries like China, Japan, and South Korea. North America follows, driven by technological innovation, research initiatives, and adoption in aerospace, defense, and energy storage applications. Europe also holds a notable share, fueled by increasing focus on sustainable materials, automotive lightweighting, and renewable energy projects. Meanwhile, regions like Latin America and the Middle East & Africa are gradually expanding their market presence, supported by emerging industrial applications and infrastructural developments. Overall, regional growth is shaped by industrialization, R&D investments, and the push for high-performance materials across various sectors.

Carbon Nanotubes Market: Competitive Analysis

The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the carbon nanotubes market on a global and regional basis.

The global carbon nanotubes market is dominated by players like:

• Resonac Holdings Corporation
• Hanwha Solutions Chemical Division Corporation
• Arry International Group Limited
• Carbon Solutions Inc.
• Jiangsu Cnano Technology Co. Ltd
• Arkema
• CHASM
• Cabot Corporation
• Nanocyl SA
• Continental Carbon Nanotechnologies Inc

Carbon Nanotubes Market: Segmentation Analysis

The global carbon nanotubes market is segmented as follows;

By Product

• MWCNTs
• SWCNTs

By Application

• Polymers
• Energy
• Electrical & Electronics
• Others

Carbon Nanotubes Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America