Market Size of Carbon Nanotubes Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 6.51 Billion |
| Market Size (2029) | USD 16.25 Billion |
| CAGR (2024 - 2029) | 34.78 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Carbon Nanotubes Market Analysis
The Carbon Nanotubes Market size is estimated at USD 6.51 billion in 2024, and is expected to reach USD 16.25 billion by 2029, growing at a CAGR of 34.78% during the forecast period (2024-2029).
The COVID-19 pandemic posed various challenges in the Carbon nanotubes market but also represented opportunities for growth in specific areas. The industry has adapted to the changing landscape in the automotive sector and various other advanced applications, As the world is recovering from the pandemic, the carbon nanotubes market is gradually regaining its momentum and will continue to grow during the forecast period.
The market saw a rise in demand with the increase in applications in various industries, including energy, automotive, electronics, aerospace, and other such industrial applications.
In the medium term, the major factors driving the market studied are the growing usage of carbon nanotubes in electric vehicles and the increasing demand for advanced materials in numerous applications.
On the flip side, environmental concerns and health safety issues are anticipated to restrain the market growth.
Increasing demand for energy storage devices is expected to act as an opportunity for the market in the coming years.
Asia-Pacific accounted for the highest market share, and the region is expected to dominate the market during the forecast period.
Carbon Nanotubes Industry Segmentation
Carbon nanotubes are cylindrical molecules that consist of rolled-up sheets of single-layer carbon atoms (graphene). They can be single-walled (SWCNT) with a diameter of less than 1 nanometer (nm) or multi-walled (MWCNT), consisting of several concentrically interlinked nanotubes with diameters reaching more than 100 nm. Their length can reach several micrometers or even millimeters.
The carbon nanotubes market is segmented by type, end-user industry, and geography. By type, the market is segmented into multi-walled carbon nanotubes, single-walled carbon nanotubes, and other types. By end-user industry, the market is segmented into electronics, aerospace and defense, automotive, textiles, healthcare, energy, and other end-user industries. The report also covers the market size and forecasts for the carbon nanotubes market in 16 countries across major regions. For each segment, market sizing and forecasts are done in volume (tons) and revenue (USD).
| By Type | |
| Multi-walled Carbon Nanotubes (MWCNT) | |
| Single-walled Carbon Nanotubes (SWCNT) | |
| Other Types (armchair carbon nanotubes and zigzag carbon nanotubes) |
| By End-user Industry | |
| Electronics | |
| Aerospace and Defense | |
| Automotive | |
| Healthcare | |
| Energy | |
| Other End-user Industries (Textiles, Plastics and Composites, and Construction) |
| By Geography | ||||||||
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Carbon Nanotubes Market Size Summary
The carbon nanotubes market is poised for significant growth, driven by increasing applications across various industries such as energy, automotive, electronics, and aerospace. The market is recovering from the challenges posed by the COVID-19 pandemic and is expected to regain momentum, with a strong focus on the growing use of carbon nanotubes in electric vehicles and advanced materials. Despite potential restraints from environmental and health safety concerns, the market is anticipated to benefit from the rising demand for energy storage devices. The Asia-Pacific region, particularly China, is expected to dominate the market due to its extensive electronics production base and competitive manufacturing capabilities.
Carbon nanotubes are gaining traction as a catalyst support in energy applications, including solar cells and fuel cells, due to their high surface area and conductivity. The global energy crisis has made renewable power technologies more attractive, prompting ambitious expansion policies in key markets like China and the European Union. The United States and India are also witnessing significant growth in renewable energy, further boosting the demand for carbon nanotubes. The market is partially consolidated, with major players like LG Chem and Cabot Corporation expanding their production capabilities. These developments, along with strategic investments in the automotive and electronics sectors, are expected to drive the carbon nanotube market's growth in the coming years.
Carbon Nanotubes Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Usage of Carbon Nantotubes in Electric Vehicles
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1.1.2 Increasing Demand for Advance Materials in Numerous Applications
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1.2 Restraints
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1.2.1 Environmental Concerns and Health Safety Issues
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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1.5 Patent Analysis
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2. MARKET SEGMENTATION (Market Size in Value and Volume)
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2.1 By Type
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2.1.1 Multi-walled Carbon Nanotubes (MWCNT)
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2.1.2 Single-walled Carbon Nanotubes (SWCNT)
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2.1.3 Other Types (armchair carbon nanotubes and zigzag carbon nanotubes)
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2.2 By End-user Industry
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2.2.1 Electronics
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2.2.2 Aerospace and Defense
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2.2.3 Automotive
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2.2.4 Healthcare
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2.2.5 Energy
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2.2.6 Other End-user Industries (Textiles, Plastics and Composites, and Construction)
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2.3 By Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Spain
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2.3.3.6 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East and Africa
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Carbon Nanotubes Market Size FAQs
How big is the Carbon Nanotubes Market?
The Carbon Nanotubes Market size is expected to reach USD 6.51 billion in 2024 and grow at a CAGR of 34.78% to reach USD 16.25 billion by 2029.
What is the current Carbon Nanotubes Market size?
In 2024, the Carbon Nanotubes Market size is expected to reach USD 6.51 billion.
