Global Carbon Nanotubes (CNT) Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2024 –2031 |
 Market Size (Base Year) |
USD 1.01 Billion |
 Market Size (Forecast Year) |
USD 3.40 Billion |
 CAGR |
% |
| Major Markets Players |
|
Global Carbon Nanotubes (CNT) Market, By Method (Chemical Vapor Deposition, Catalytic Chemical Vapor Deposition (CCVD), High-Pressure Carbon Monoxide Reaction, and Others), Type (Single-Walled, Multi-Walled, and Others), Technology (Arc Discharge, Laser Ablation, CVD, Catalytic CVD, High-Pressure Carbon Monoxide, CoMoCAT, Floating Catalyst, and Others), Application (Structural Polymer Composites, Conductive Polymer Composites, Conductive Adhesives, Fire Retardant Plastics, Metal Matrix Composites, Li-ion Battery Electrodes, and Others), End User (Aerospace and Defense, Chemicals and Polymers, Electronics and Semiconductors, Advanced Materials, Batteries and Capacitors, Medical, Energy, and Others) – Industry Trends and Forecast to 2031.
Carbon Nanotubes (CNT) Market Analysis and Size
The global carbon nanotubes (CNT) market is poised for significant growth over the forecast period, driven by increasing demand across various industries due to the carbon nanotubes properties. CNTs are known for their exceptional mechanical strength, electrical conductivity, and thermal stability, making them ideal for a wide range of applications, including electronics, aerospace, automotive, energy storage, and nanomedicine. The market is set for substantial growth, driven by diverse applications and ongoing advancements in nanotechnology. While challenges remain, the potential benefits of CNTs in improving performance and efficiency across various industries make them a highly sought-after material.
Global carbon nanotubes (CNT) market size was valued at USD 1.01 billion in 2023 and is projected to reach USD 3.40 billion by 2031, with a CAGR of 16.40% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
|
Report Metric |
Details |
|
Forecast Period |
2024 to 2031 |
|
Base Year |
2023 |
|
Historic Years |
2022 (Customizable to 2016-2021) |
|
Quantitative Units |
Revenue in USD Billion, Volumes in Units, Pricing in USD |
|
Segments Covered |
Method (Chemical Vapor Deposition, Catalytic Chemical Vapor Deposition (CCVD), High-Pressure Carbon Monoxide Reaction, and Others), Type (Single-Walled, Multi-Walled, and Others), Technology (Arc Discharge, Laser Ablation, CVD, Catalytic CVD, High-Pressure Carbon Monoxide, CoMoCAT, Floating Catalyst, and Others), Application (Structural Polymer Composites, Conductive Polymer Composites, Conductive Adhesives, Fire Retardant Plastics, Metal Matrix Composites, Li-ion Battery Electrodes, and Others), End User (Aerospace and Defense, Chemicals and Polymers, Electronics and Semiconductors, Advanced Materials, Batteries and Capacitors, Medical, Energy, and Others) |
|
Countries Covered |
U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, Rest of South America |
|
Market Players Covered |
LG Chem (South Korea), Cabot Corporation (U.S.), SHOWA DENKO K.K. (Japan), Dupont (U.S.), Solvay (Belgium), DAIKIN INDUSTRIES, Ltd., (Japan), Carbon Solutions, Inc. (U.S.), OCSiAl (Luxembourg), SABIC (Saudi Arabia), Nanoshel LLC (U.S.), Thomas Swan & Co. Ltd. (U.K.), Nanothinx S.A. (Greece), XinNano Materials, Inc. (China), Continental Carbon Company. (U.S.), KUMHO PETROCHEMICAL (South Korea), Raymor Industries Inc. (Canada) |
|
Market Opportunities |
|
Market Definition
Carbon Nanotubes (CNTs) are cylindrical nanostructures composed of carbon atoms arranged in a hexagonal lattice, forming seamless tubes with diameters in the nanometer range. They can be single-walled (SWCNT), consisting of a single graphene sheet rolled into a tube, or multi-walled (MWCNT), made up of multiple concentric graphene cylinders. CNTs exhibit extraordinary mechanical, electrical, and thermal properties, making them highly valuable in various applications, including electronics, materials science, energy storage, and nanomedicine.
Carbon Nanotubes (CNT) Market Dynamics
Drivers
- Growing Demand from Electronics Industry
The electronics industry is experiencing a surge in demand for miniaturized, high-performance electronic devices, such as smartphones, tablets, and wearables. This demand is driving the use of carbon nanotubes (CNTs) in various electronic components, including transistors, conductive films, and sensors. CNTs offer exceptional electrical conductivity and mechanical strength, making them ideal for improving the performance and efficiency of electronic devices. As consumer preferences shift towards smaller, more powerful gadgets, the demand for CNTs in the electronics industry is expected to continue to rise.
- Rising Adoption in the Automotive and Aerospace Sectors
In the automotive and aerospace sectors, CNTs are increasingly being used to enhance the strength and reduce the weight of materials used in vehicle and aircraft manufacturing. This adoption of CNTs has led to improvements in fuel efficiency, performance, and overall durability of vehicles and aircraft. CNTs are used in a variety of applications, including structural components, body panels, and tires, among others. With the automotive and aerospace industries continuously seeking ways to improve efficiency and reduce emissions, the demand for CNTs in these sectors is expected to grow with increasing uses for carbon nanotubes.
- Increasing Focus on Nanotechnology
Countries worldwide are increasingly focusing on the development of nanotechnology, recognizing its potential to drive innovation and economic growth. This global focus on nanotechnology is expected to lead to an increase in demand for CNTs, especially in regions, which are at the forefront of nanotechnology research and development. As industries across various sectors look to leverage the unique properties of CNTs, such as their high strength-to-weight ratio and exceptional electrical conductivity, the demand for CNTs is expected to rise, further fueling the growth of the carbon nanotubes market.
Opportunities
- Focus on Sustainable and Green Technologies
CNTs are being explored for their potential in renewable energy generation, such as in solar cells and fuel cells, where their high electrical conductivity and light-absorbing properties can enhance energy conversion efficiency. In addition, CNTs are being investigated for their role in improving the recyclability of materials, such as composite materials used in the construction and automotive industries. The global shift towards sustainable and environmentally friendly technologies is creating opportunities for the use of Carbon Nanotubes (CNTs) in various green applications.
- Increasing R&D Investments
The increasing investments in research and development (R&D) are aimed at enhancing the properties and performance of CNTs, as well as exploring new applications and markets for CNTs. R&D efforts are focused on improving the scalability and cost-effectiveness of CNT production methods, as well as on developing innovative CNT composites and hybrid materials with enhanced properties. As a result, the market for CNTs is expected to expand, driven by the introduction of new and improved products that address the needs of various industries and applications.
Restraints/Challenges
- High Production Costs of CNTs
The complex manufacturing processes involved in producing CNTs, such as chemical vapor deposition (CVD) and arc discharge methods, require specialized equipment and high energy inputs, contributing significantly to the overall production costs. In addition, the cost of raw materials, including carbon sources and catalysts, further adds to the carbon nanotubes price. These high production costs make CNTs less competitive compared to other materials, thus limiting their market penetration and adoption in various industries.
- Challenges in Large-scale Production
One of the main challenges is the need to control the size, structure, and purity of CNTs during the production process, especially when scaling up to meet the demand for large quantities of CNTs. Issues such as variations in CNT properties, impurities, and difficulties in dispersing CNTs uniformly can arise during large-scale production, affecting the performance and reliability of CNT-based products.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In May 2023, LG Chem announced the commencement of construction for its fourth carbon nanotube (CNT) plant at its Daesan Complex, located 80 kilometers southwest of Seoul. Scheduled for operation in 2025, LG Chem's CNT 4 Plant will double the company's annual CNT production capability to 6,100 tons. Before this development, LG Chem's CNT 3 Plant in Yeosu, with a capacity of 1,200 tons, was recently put into full operation. This addition has enabled LG Chem to secure a total production capacity of 2,900 tons per year, in addition to the existing 1,700 tons
- In March 2021, Cabot Corporation unveiled its latest innovation in high-performance carbon nanotubes (CNTs) with the launch of the ENERMAX™ 6 series. This new series boasts a high aspect ratio, making it the most conductive multi-walled CNT product in Cabot's lineup. The ENERMAX™ 6 CNT series is designed to significantly improve battery performance, allowing for higher energy density at lower loadings
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Carbon Nanotubes (CNT) Market Scope
The carbon nanotubes (CNT) market is segmented on the basis of method, type, technology, application, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Method
- Chemical Vapor Deposition
- Catalytic Chemical Vapor Deposition (CCVD)
- High-Pressure Carbon Monoxide Reaction
- Others
Type
- Single-Walled
- Multi-Walled
- Others
Technology
- Arc Discharge
- Laser Ablation
- CVD
- Catalytic CVD
- High Pressure Carbon Monoxide
- CoMoCAT
- Floating Catalyst
- Others
Application
- Structural Polymer Composites
- Conductive Polymer Composites
- Conductive Adhesives
- Fire Retardant Plastics
- Metal Matrix Composites
- Li-ion Battery Electrodes
- Others
End User
- Aerospace and Defense
- Chemicals and Polymers
- Electronics and Semiconductors
- Advanced Materials
- Batteries and Capacitors
- Medical
- Energy
- Others
Carbon Nanotubes (CNT) Market Regional Analysis/Insights
The market is analyzed and market size insights and trends are provided by country, method, type, technology, application, and end user as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.
North America is expected to dominate the market due to increasing demand in the region's electronic industries. Additionally, the growth and expansion of the polymer industry in emerging countries like India and China are expected to further boost market growth.
Asia-Pacific is expected to be the fastest growing due to the rising utilization of carbon nanotubes (CNT) across diverse industries such as electrical and electronics, aerospace and defense, and automotive, among others.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Carbon Nanotubes (CNT) Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Some of the major players operating in the market are:
- LG Chem (South Korea)
- Cabot Corporation (U.S.)
- SHOWA DENKO K.K. (Japan)
- Dupont (U.S.)
- Solvay (Belgium)
- DAIKIN INDUSTRIES, Ltd., (Japan)
- Carbon Solutions, Inc. (U.S.)
- OCSiAl (Luxembourg)
- SABIC (Saudi Arabia)
- Nanoshel LLC (U.S.)
- Thomas Swan & Co. Ltd. (U.K.)
- Nanothinx S.A. (Greece)
- XinNano Materials, Inc. (China)
- Continental Carbon Company. (U.S.)
- KUMHO PETROCHEMICAL (South Korea)
- Raymor Industries Inc. (Canada)
- CHASM (U.S.)
SKU-
Get online access to the report on the World's First Market Intelligence Cloud
- Interactive Data Analysis Dashboard
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
- Harness the Power of Benchmark Analysis for Comprehensive Competitor Tracking
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.
