Carbon Nanotubes Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type (, Technology and Application : Global Opportunity Analysis and Industry Forecast, 2021-2030

Carbon Nanotubes Market Research, 2030

The global carbon nanotubes market size was valued at $15.3 billion in 2017, and is projected to reach $103.2 billion by 2030, growing at a CAGR of 16.3% from 2021 to 2030. Carbon nanotubes (CNTs) have gained significant traction in the electronics and semiconductor sectors due to their exceptional electrical conductivity, mechanical strength, and nanoscale dimensions. These unique properties make CNTs ideal for next-generation electronic devices, driving advancements in several key areas such as transistors, capacitors, and sensors.

 

Introduction 

Carbon nanotubes (CNTs) are cylindrical molecules made up of carbon atoms arranged in a hexagonal lattice, essentially forming a tube with a diameter as small as 1 nanometer, however, lengths that extend up to several micrometers. These structures are envisioned as sheets of graphene (a single layer of carbon atoms in a honeycomb-like arrangement) rolled into tubes. Depending on how the graphene sheet is rolled, CNTs are classified as single-walled carbon nanotubes (SWCNTs) or multi-walled carbon nanotubes (MWCNTs). SWCNTs consist of a single graphene layer, while MWCNTs are composed of multiple layers of graphene. 

CNTs are used in aerospace, automotive, and construction industries to create lightweight, high-strength materials. These materials help reduce the overall weight of vehicles or structures while improving fuel efficiency and durability. For instance, CNT-reinforced polymers and metals are used to build stronger and lighter aircraft parts. 

CNTs are utilized in fuel cell technology, where they are used as electrode materials to enhance the efficiency of electrochemical reactions. Their excellent conductivity and surface properties facilitate more efficient reactions, leading to improved power output. CNTs are used as additives in lithium-ion batteries to improve the conductivity and capacity of battery electrodes. They offer a higher surface area for lithium-ion storage, which result in faster charging times and increased energy density. In supercapacitors, CNTs provide enhanced energy and power density due to their ability to store charge at high surface areas. 

CNTs have large surface area and the ability to interact with contaminants at the molecular level, which makes them effective in filtering and purifying water. They are capable of removing heavy metals, organic pollutants, and microorganisms from water, making them an attractive option for water treatment systems. CNTs are also being used to develop highly sensitive biosensors for detecting biomoleculessuch as glucose, proteins, and even DNA. These sensors provide rapid and accurate results, making them useful in medical diagnostics and health monitoring. CNTs have been explored as carriers for drug delivery systems.

The global carbon nanotubes market is driven by factors such as increase in need for lightweight structural polymer composites, conductive fillers for EMI shielding materials, antistatic packaging from automotive, electronics, energy, & industrial end users. Carbon nanotubes-based ESD materials are used in fuel pumps, fuel filter housings, connectors, reservoirs, line clips, and electronic housings. CNTs are used in the electrical & electronics industry to produce electromagnetic interference (EMI) shielding composites and antistatic packaging materials. Although several conducting particles have been studied, such as carbon black particles, carbon fibers, or metallic fibers, CNTs have demonstrated better EMI shielding properties due to their high aspect ratio, higher strength, flexibility, and low density; thus, making them ideal fillers.

 Key Takeaways 

• The carbon nanotubes market study covers 20 countries. The research includes a segment analysis of each country in terms of both value ($million) for the projected period 2021-2030. 
• The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global carbon nanotubes markets and to assist stakeholders in making educated decisions to achieve their most ambitious growth objectives. 
• Over 3,700 product literatures, annual reports, industry statements, and other comparable materials from major industry participants were reviewed to gain a better understanding of the carbon nanotubes market. 
• The carbon nanotubes market is highly fragmented, with several players including Arkema SA, Cabot Corporation, CHASM Advanced Materials Inc., CHEAPTUBES, Hyperion Catalysis International, Jiangsu Tiannai Technology Co. Ltd., Klean Industries, Kumho Petrochemical, LG Chem, Nano-C, Nanocyl SA, Nanostructured & Amorphous Materials Inc., Nopo Nanotechnologies, OCSiAl, Ossila Ltd., Raymor Industries, Showa Denko K.K., Thomas Swan and Co. Ltd., Tokyo Chemical Industry Co. Ltd., and Toray Industries. Also tracked key strategies such as acquisitions, product launches, mergers, expansion etc. of the players operating in the carbon nanotubes market share 

Market Dynamics 

Increase in demand for lightweight and high-strength materials is expected to drive the growth of carbon nanotubes market during the forecast period. The surge in demand for lightweight and high-strength materials drives the adoption of carbon nanotubes (CNTs) in industries such as aerospace, automotive, and construction. In the aerospace industry, where reducing weight is critical for fuel efficiency and overall performance, CNTs are increasingly incorporated into composite materials. Aircraft manufacturers focus on reducing the weight of aircraft without compromising strength, as even slight reductions in weight lead to significant savings in fuel consumption and a decrease in carbon emissions. The use of CNT-reinforced composites in aircraft components such as fuselages, wings, and interior structures allows for lighter designs while maintaining high structural integrity, improving both fuel efficiency and safety. Similarly, the automotive industry has adopted CNT-based materials to enhance vehicle performance and efficiency. The push for electric vehicles (EVs) and stricter fuel efficiency regulations have intensified the search for materials that reduce vehicle weight. CNTs are used in the development of lightweight body panels, chassis, and interior components that reduce the overall weight of vehicles and improve crash resistance due to their high strength. For EVs, this translates into extended range, as lighter vehicles consume less energy. In May 2023, LG Chem revealed plans to build its fourth carbon nanotube (CNT) plant in Daesan, South Korea, with operations expected to commence in 2025. This expansion will significantly boost LG Chem's annual CNT production capacity, doubling it to 6,100 tons and enhancing the company's product offerings. 

However, competition from other nanomaterials is expected to restrain the growth of the carbon nanotube market during the forecast period. Graphene, such as CNTs, is a carbon-based material that exhibits remarkable mechanical strength, electrical conductivity, and thermal properties. Its structure, a single layer of carbon atoms arranged in a hexagonal lattice, gives it an exceptional combination of flexibility and strength, making it highly attractive for applications such as flexible electronics, sensors, and energy storage devices. One area where graphene has particularly outshined CNTs is in the development of next-generation batteries and supercapacitors. The high surface area of graphene, coupled with its ability to conduct electricity efficiently, makes it ideal for enhancing the performance of electrodes in energy storage systems. 

Segments Overview 

The carbon nanotubes market is segmented into type, technology, application, and region. On the basis of type, the global carbon nanotubes market is classified into single-walled carbon nanotubes (SWCNT) and multi-walled carbon nanotubes (MWCNT).  On the basis of technology, the global carbon nanotubes market is divided into arc discharge, laser ablation, CVD, catalytic CVD, high pressure carbon monoxide, CoMoCAT, floating catalyst, and others. On the basis of application, the market is segregated into electronics & semiconductor, energy storage, structural composites, chemical materials, medical & pharmacy, and others. Region-wise, the Carbon nanotubes market growth is studied across North America, Europe, Asia-Pacific, and LAMEA.

Carbon nanotubes market, by Type

On the basis of type, the single-walled carbon nanotubes (SWCNT) segment dominated the carbon nanotubes market in terms of revenue in 2020. Single-walled carbon nanotubes (SWCNTs) have gained significant attention across various industries due to their exceptional mechanical, electrical, and thermal properties. Their unique one-dimensional structure, composed of a single layer of carbon atoms rolled into a tube, gives them extraordinary strength, flexibility, and conductivity. In the electronics sector, SWCNTs are widely used in the production of transistors, sensors, and other nanoscale devices due to their excellent electrical conductivity. They are considered potential candidates for the development of next-generation semiconductors, with the ability to operate faster and more efficiently than traditional materials. 

Carbon nanotubes market, by Technology

On the basis of technology, the CVD segment dominated the carbon nanotubes market in 2020. Chemical vapor deposition (CVD) carbon nanotubes (CNTs) are widely used across various industries due to their unique properties, including high electrical conductivity, mechanical strength, and thermal stability. These CNTs are synthesized via CVD processes, which allow for precise control over the diameter, length, and purity of the nanotubes, making them highly versatile for numerous applications. In the electronics and semiconductor industry, CVD carbon nanotubes are used for developing high-performance transistors, interconnects, and flexible displays. Their exceptional electrical conductivity makes them ideal for replacing traditional materials in electronic components, resulting in faster, smaller, and more energy-efficient devices. CNTs are also employed in the development of next-generation nanoelectronics, including sensors and memory storage devices, where their nanoscale dimensions and high carrier mobility offer significant improvements over silicon-based technologies. 

Carbon nanotubes market, by Application

By application, the structural composites segment garnered the highest revenue contributor in 2020. However, the medical & pharmacy segment is projected to grow at the fastest CAGR of 18.7%, owing to the increasing use of CNTs in drug delivery and biosensing applications. Carbon nanotubes (CNTs) have revolutionized the development of structural composites across various industries due to their exceptional mechanical, electrical, and thermal properties. These composites are primarily used to enhance the strength, stiffness, and durability of materials, making them suitable for high-performance applications in aerospace, automotive, defense, electronics, and construction industries. CNTs are often embedded into polymer matrices or metals to create materials that outperform traditional composites in terms of weight, strength, and fatigue resistance 

Carbon nanotubes market, by Region 

Region-wise, Asia-Pacific dominated the carbon nanotubes market growing with the CAGR of 17.5% during the forecast period. Carbon nanotubes (CNTs) have gained prominence across Asia-Pacific countries due to their unique properties and versatility. These nanomaterials, composed of rolled-up sheets of graphene, exhibit remarkable mechanical strength, electrical conductivity, thermal stability, and chemical resistance. As a result, their usage spans various industries in the region, including electronics, energy, aerospace, automotive, and healthcare. In the electronics sector, CNTs are used in transistors, sensors, and flexible displays due to their excellent conductivity and ability to enhance device performance. Asia-Pacific, with countries such as China, Japan, and South Korea leading in electronics manufacturing, is at the forefront of integrating CNTs into advanced semiconductors, flexible electronics, and transparent conductive films. Their lightweight nature and flexibility also contribute to the growing interest in wearable technologies in these regions. 

Competitive Analysis 

The major players operating in the global carbon nanotubes market include Arkema SA, Cabot Corporation, CHASM Advanced Materials Inc., CHEAPTUBES, Hyperion Catalysis International, Jiangsu Tiannai Technology Co. Ltd., Klean Industries, Kumho Petrochemical, LG Chem, Nano-C, Nanocyl SA, Nanostructured & Amorphous Materials Inc., Nopo Nanotechnologies, OCSiAl, Ossila Ltd., Raymor Industries, Showa Denko K.K., Thomas Swan and Co. Ltd., Tokyo Chemical Industry Co. Ltd., and Toray Industries 

Key benefits for stakeholders

• Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
• It outlines the current carbon nanotubes market trends and future estimations from 2017 to 2030 to understand the prevailing opportunities and potential investment pockets.
• The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
• The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
• The profiles of key players and their key strategic developments are enlisted in the report. 

  Carbon Nanotubes Market Report Highlights