Press release
Carbon Nanotubes Market Size to Reach USD 2.63 Billion by 2029, Growing at 14.9% CAGR
Carbon Nanotubes Market
According to a new report by DataM Intelligence, the Global Carbon Nanotubes Market, valued at USD 1.31 billion in 2024, is projected to reach USD 2.63 billion by 2029, registering a CAGR of 14.9% during the forecast period (2024-2029). The continuous rise in demand for lightweight, high-strength, and energy-efficient materials-particularly from the electronics, automotive, and aerospace industries-is fueling the adoption of carbon nanotubes (CNTs) worldwide.
Carbon nanotubes are increasingly utilized for their superior mechanical and conductive properties, making them indispensable in advanced composites, semiconductors, and energy storage devices. The Asia Pacific region continues to dominate due to its strong industrial base, large-scale CNT production, and rapid technological adoption across key end-use sectors such as electric vehicles, polymers, and electronics.
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Key Highlights from the Report
➤ The global carbon nanotubes market will expand from USD 1.31 billion in 2024 to USD 2.63 billion by 2029.
➤ The Asia Pacific region led the market in 2023, driven by robust manufacturing and R&D capacity.
➤ Multi-walled carbon nanotubes dominate due to superior strength and chemical stability.
➤ Structural composites and electronics are key growth drivers for carbon nanotube applications.
➤ The industry is witnessing strong M&A activity and capacity expansion among global manufacturers.
➤ Environmental regulation and improved safety frameworks are expected to shape CNT adoption.
Market Segmentation
By Type:
Single-Walled Carbon Nanotubes (SWCNTs) accounted for the largest market share in 2023. Renowned for their strength, flexibility, and electrical conductivity, SWCNTs outperform conventional materials like carbon fibers and steel, particularly in high-performance electronics and energy applications.
Multi-Walled Carbon Nanotubes (MWCNTs), consisting of multiple cylindrical layers of graphene, offer enhanced stability and thermal resistance. Their high mechanical strength and layered design make them ideal for heavy-duty applications, including structural reinforcements, composites, and heat dissipation materials.
By End-Use Industry:
Structural composites and electronics represent the largest end-use segments. The integration of CNTs into polymer, ceramic, and metallic matrices boosts durability, fuel efficiency, and energy performance in industries such as automotive, aerospace, and construction. Energy storage and medical products also show robust CNT adoption due to advancements in lithium-ion batteries and biosensors.
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Regional Insights
Asia Pacific remains the largest and fastest-growing regional market, contributing the majority share in 2023. China, Japan, and South Korea lead global CNT production and usage, supported by thriving semiconductor, electric vehicle, and advanced materials industries. The region's rapid infrastructure growth and government-backed material innovation initiatives continue to accelerate CNT deployment.
China stands out as a global leader due to large-scale in-house CNT manufacturing, low production costs, and escalating demand from electronics and battery producers. Meanwhile, expanding investments in India and Southeast Asia are strengthening the region's role in global CNT supply chains.
Market Dynamics
Market Drivers:
Rising demand for electronics and semiconductors in Asia Pacific, coupled with the emergence of advanced composite materials, is driving CNT consumption. Superior conductivity, flexibility, and thermal management capabilities make CNTs critical across end-use industries.
Market Restraints:
Environmental concerns and occupational safety risks tied to nanoparticle exposure present challenges. The presence of airborne CNTs can pose health hazards, prompting stricter production regulations at both state and international levels.
Market Opportunities:
Growing use of CNTs in high-performance composites, energy storage, sports equipment, and defense materials creates significant growth avenues. The remarkable strength-to-weight ratio and conductivity of CNTs make them ideal for developing innovative, lightweight, and sustainable products.
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Reasons to Buy the Report
✔ Detailed analysis of market trends, opportunities, and competitive dynamics across regions.
✔ Insights into CNT applications across electronics, energy storage, and composites industries.
✔ Assessment of key mergers, acquisitions, and technology advancements shaping the market.
✔ In-depth study of emerging material technologies for lightweight and high-strength products.
✔ Comprehensive coverage of regulatory developments and sustainability initiatives worldwide.
Frequently Asked Questions (FAQs)
◆ How big is the global carbon nanotubes market in 2024?
◆ What is the projected CAGR of the carbon nanotubes market during 2024-2029?
◆ Who are the key players leading the global carbon nanotubes industry?
◆ Which region dominates the carbon nanotubes market and why?
◆ What are the emerging application opportunities for CNTs in energy storage and composites?
Company Insights
LG Chem (South Korea)
Cabot Corporation (U.S.)
Resonac Corporation (Showa Denko K.K.) (Japan)
Jiangsu Cnano Technology Co., Ltd. (China)
Timesnano (Chengdu Organic Chemicals Co. Ltd.) (China)
Nanocyl SA (Belgium)
Arkema SA (France)
Toray International, Inc. (U.S.)
Sumitomo Corporation (Japan)
OCSiAl (Luxembourg)
Carbon Solutions, Inc. (U.S.)
Thomas Swan & Co. Ltd. (U.K.)
Nano-C (U.S.)
NanoLab, Inc. (U.S.)
Reinste Nano Ventures (India)
Cheap Tubes Inc. (U.S.)
Recent Developments:
In October 2023, Birla Carbon completed its acquisition of Nanocyl SA, expanding its footprint in conductive and energy storage materials.
In March 2023, Cabot China Limited acquired Shenzhen Sanshun Nano New Materials Co., Ltd., strengthening its position in China's rapidly growing battery material market.
Conclusion
The Global Carbon Nanotubes Market is witnessing rapid expansion as industries across electronics, composites, and energy systems embrace the material's superior strength, electrical properties, and lightweight nature. Asia Pacific continues to lead global adoption as manufacturers scale production and invest in advanced composites and sustainable material innovations. With ongoing technological progress and regulatory clarity, the CNT market is poised to redefine next-generation materials engineering and global industrial efficiency.
Contact Us
Mr. Sai Kiran
DataM Intelligence 4market Research LLP Ground floor
DSL Abacus IT Park, Industrial Development Area
Uppal, Hyderabad, Telangana 500039
USA: +1 877-441-4866
Email: Sai.k@datamintelligence.com
Visit Our Website: https://www.datamintelligence.com
About Us
DataM Intelligence 4Market Research is a comprehensive market intelligence platform offering syndicated and customized reports along with expert consulting across multiple industries, including chemicals, healthcare, agriculture, food & beverages, and more. With extensive experience and a strategy-focused approach, DataM provides businesses and individuals with reliable market insights, statistical forecasts, and personalized research solutions to help them make informed decisions and successfully bring innovations to market.
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