Press Release

Global Carbon Nanotubes Market to Grow at a CAGR of 16.5% During 2024-2032, Driven by its Use in Batteries

Global Carbon Nanotubes Market

According to a new report by EMR titled, ‘Global Carbon Nanotubes Market Report and Forecast 2024-2032’, the market attained a value of nearly USD 9.41 billion in 2023. The market is further expected to grow at a CAGR of 16.5% between 2024 and 2032, to reach USD 37.30 billion by 2032.

With the advancement of nanotechnology, the development of carbon nanotubes (CNTs) for industrial applications is rising, thereby supporting the overall carbon nanotubes market. CNTs are divided into single-walled carbon nanotubes (SWCNTs) and multi-walled carbon nanotubes (MWCNTs) depending on the number of layers present in the structure.


In the production of fuel cells, CNTs have received significant attention for cathodic applications due to their superior and tunable physiochemical properties. The rapid electrification of vehicles in turn aids the demand for carbon nanotubes. This has led to players globally increasing their production capacity to establish themselves as a leading supplier of carbon nanotubes to the energy sector. Major players, such as Jiangsu Cnano Technology, Cabot Corporation (NYSE: CBT), LG Chem, JEIO and Kumho Petrochemical, and Carbon Corp (C2CNT) are increasing the production of carbon nanotubes. Additionally, carbon nanotubes can be deployed to produce automobile parts, such as chassis, head shield, and engine block.


In addition to energy storage applications, carbon nanotubes can be deployed to enhance the electrical conductivity, thermal conductivity, and mechanical properties of polymer composites. CNTs depict superior strength and versatility which aids their adoption across a broad range of fields, including materials science, engineering, medicine, plant biotechnology, and agriculture.


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Market Breakup by Type, Method, Application, and Region:

  • The market is segmented based on type into single walled and multi walled.
  • By method, the market is segmented into chemical vapor deposition, catalytic chemical vapor deposition, high pressure carbon monoxide reaction, and others.
  • By application, the carbon nanotubes market is segmented into batteries and capacitors, chemical and polymers, electrical and electronics, automotive, energy, aerospace and defense, and medical, among others.
  • Region-wise, the global market for carbon nanotubes can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.


Key Findings of the Report:

  • Carbon nanotubes exhibit impressive tensile strength and flexibility, making them ideal for reinforcing materials and creating strong composites.
  • The excellent thermal conductivity of carbon nanotubes allows them to dissipate heat efficiently. This property is advantageous for applications in thermal management.
  • Extensive research in the field of nanotechnology aids the advancement of carbon nanotube technology.
  • The growing automotive sector is expected to aid the demand for carbon nanotubes in producing batteries and polymer composites with improved electrical, thermal, and mechanical properties.


Key Offerings of the Report:

  • The EMR report gives an overview of the global market for carbon nanotubes for the periods (2018-2023) and (2024-2032).
  • The report also offers historical (2018-2023) and forecast (2024-2032) market information for the type, method, application, and major regions of carbon nanotubes.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.


The major players in the carbon nanotubes market are Arkema Group, Toray Industries, Inc., Carbon Solutions, Inc., Cheap Tubes Inc., Nanocyl SA, Jiangsu Cnano Technology Co., Ltd, and CHASM Advanced Materials Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.


Key Highlights of the Report

Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Method
  • Application
  • Region
Breakup by Type
  • Single Walled
  • Multi Walled
Breakup by Method
  • Chemical Vapor Deposition
  • Catalytic Chemical Vapor Deposition
  • High Pressure Carbon Monoxide Reaction
  • Others
Breakup by Application
  • Batteries and Capacitors
  • Chemical and Polymers
  • Electrical and Electronics
  • Automotive
  • Energy
  • Aerospace and Defense
  • Medical
  • Others
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Arkema Group
  • Toray Industries, Inc.
  • Carbon Solutions, Inc.
  • Cheap Tubes Inc.
  • Nanocyl SA
  • Jiangsu Cnano Technology Co., Ltd
  • CHASM Advanced Materials Inc.
  • Others


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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.


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