Multi-walled Carbon Nanotubes Market by latest COVID-19 Impact and Global Analysis to 2028

The multi-walled carbon nanotubes market is expected to grow from US$ 5,252.36 million in 2021 to US$ 10,748.27 million by 2028. It is estimated to rise at a CAGR of 10.8% from 2021 to 2028.

The high electrical conductivity of multi-walled carbon nanotubes has resulted in wide applications of multi-walled carbon nanotubes to manufacture batteries. Multi-walled carbon nanotubes include conductive latex gloves for antistatic conveyor rollers that can dissipate the static charge or for touchscreen use.

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Based on application, the multi-walled carbon nanotubes market is segmented into electrically conductive polymers, structural composites, concrete additives, batteries, research & development, and others. In 2020, the batteries segment led the market. It is expected to register the highest CAGR during the forecast period.

Based on geography, the multi-walled carbon nanotubes market is segmented into North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA). In 2020, North America dominated the market. It is also expected to be the fastest-growing region in the market during the forecast period. The adoption of multi-walled carbon nanotubes is surging in the aviation industry as they are being extensively used to increase and improve mechanical, electrical, and thermal properties. According to The International Trade Administration (ITA), the US aerospace industry is the largest in the world. It offers a skilled and educated workforce, extensive distribution systems, diverse offerings, and strong support at the local and national level for policy and promotion. The expansion in the North America aerospace industry is another factor driving this regional market.

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Many industries, such as the chemicals and materials industry, faced unprecedented challenges due to the COVID-19 pandemic. The shortage of raw material and labor, the shutdown of factories, and other operational difficulties under COVID-19 safety protocols adversely affected the multi-walled carbon nanotubes market substantially. Lockdown restrictions heavily impacted the supply and production of these nanotubes, thus restraining the market's growth.

These restrictions also led to the shutdown of various end-user industries, such as electronics, automotive, and others, resulting in a decline in the demand for MWCNTs, negatively impacting the market. However, the successful implementation of vaccination drives eased the impeding scenario by empowering the restoration efforts of people and enterprises.

The economies are reviving their operations, and the demand for multi-walled carbon nanotubes is expected to rise globally in the coming years. Key manufacturers have started resuming their operations. Moreover, the export and import volumes in the chemicals and materials industry are projected to increase significantly due to the relaxation of border and trade restrictions.

Arkema; Showa Denko KK; Hyperion Catalysis International; Klean Industries; Kumho Petrochemical; LG Chem; Nanocyl SA; Ossila Ltd; Raymor Industries Inc; Tokyo Chemical Industry Co. Ltd.; Ocsial; Eden Innovations Ltd.; and Beyond Pacific Holdings, LLC are the leading players in the multi-walled carbon nanotubes market. These companies are adopting various strategies, such as mergers & acquisitions and product launches, expanding their geographic presence and consumer bases.

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The overall multi-walled carbon nanotubes market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants include industry experts, such as VPs, business development managers, market intelligence managers, national sales managers, external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the multi-walled carbon nanotubes market.

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