Carbon Nanotubes Market Size – By Product, Technology, Application Industry Analysis, Share, Growth Forecast, 2025-2034

Carbon Nanotubes Market Size

The global carbon nanotubes market was estimated at USD 5 billion in 2024. The market is expected to grow from USD 5.9 billion in 2025 to USD 24.1 billion in 2034, at a CAGR of 17%. The growing technological innovations, increase in demand from several industries, and change in sustainability focus are some major drivers of growth of the carbon nanotubes (CNTs) market over the past few years. In particular, the broadening scope of application of CNTs in electronics and energy storage systems such as lithium-ion batteries and supercapacitors are one of the key trends that is expected to shape the market. The materials are being integrated into modern battery technologies to enhance their energy density and effectiveness due to the increasing demand from the EV and renewable energy sectors. Such materials have great electric conductivity, high thermal stability along with impressive mechanical strength.
 

Another main trend is the growing incorporation of CNTs into composite materials in the aerospace, automotive, and construction industries. Such materials are low density-high strength composites, and there is an increasing need for tougher and stronger fuel-efficient materials with superior structural performance. The new advances in biomedical science are limitless as new commercial opportunities arise integrating cancer treatment, drug delivery systems, and biosensors with the unique chemical and biological properties of CNTs. The trend of developing efficient cost-effective large volume production systems is of equal importance as manufacturers need to reduce expenses and enhance production efficiency to make their products marketable.
 

Furthermore, the advancements in the synthesis of CNT and its expanding applications in water treatment, pollution mitigation, and sophisticated coating technologies poses new questions regarding sustainability and environmental protection. There is significant growth potential in the market of carbon nanotubes due to the constant evolution and investment in nanotechnology which is in high demand from industries that require novel components.
 

Carbon Nanotubes Market Trends

• Increasing demand from the construction industry: CNTs are majorly used in the construction industry to enhance the mechanical properties of polymers, plastics, etc. They are used in construction materials such as cement concrete, anhydrite binders, silicate paints, and fire-retardant coating based on liquid glass. The use of MWCNTs in these materials modifies their properties such as high binding strength.
   
• Infrastructure development serves as one of the pillars of the United States economy. As of March 2023, there were more than 919,000 construction establishments in the US. As previously revised, the United States Census Bureau said construction expenditures during December 2024 was estimated to be USD 2,192.2 billion, which is 0.5 percent (± 0.8 percent) above the seasonally adjusted annual rate for November which was estimated at USD 2,180.3. This figure is also 4.3 percent (±1.3 percent) higher than the December 2023 estimate of USD 2,101.3 billion.
   
• Growing demand from automotive industries: In particular, the growing implementation of construction and automotive industry activities in China, India, Brazil, and the Middle East boosted the historic outlook for the region. This in turn the demand for carbon nanotubes is increasing.
   
• The increasing automotive manufacturing and sales across the globe will boost the overall carbon nanotubes market size. The global automotive manufacturing and sales are stimulated by improving consumer lifestyle dynamics. China and India collectively accounted for more than 30% of the global automotive manufacturing in 2021, creating high market growth opportunities in the region.
   
• Apart from the factors mentioned above, years of increasing penetration of CNTs, lithium-ion batteries in the grid, and renewable energy storage also contributed to product demand. This is expected to serve as a stimulus for the growth of the market in the coming years. Moreover, sustaining policies to decrease greenhouse emissions and encourage renewable sources of energy are expected to continue to support the industry.
   

Carbon Nanotubes Market Analysis

On the basis of product, the market is segmented into single-wall carbon nanotubes and multi-wall carbon nanotubes. While the global carbon nanotubes market held USD 5 billion in 2024, the single-wall carbon nanotubes accounted for a major share which generated a revenue of USD 398.6 million in the same year. SWCNTs (diameter ranging between 1 and 2 nm) comprises a single cylindrical layer of graphite (or graphene) with a unique structural feature: the sheet rolls into a tube that is sealed on both ends. Their dimensions place them in a category smaller than multi-walled carbon nanotubes (MWCNTs).
 

• With the advancement of electronics, there has been a growth in the development of new EMI shielding materials like flexible and wearable electronics, smart clothing, stretchable sensors, and even implantable devices. CNTs have remarkable electric characteristics which render them suitable as EMI shielding nanocomposite materials.
   
• Specialized producers of single-walled carbon nanotubes are targeting the electronics and energy sectors for possible integration within transistors & integrated circuits, spintronics, photovoltaics, various sensors, Li-ion batteries, lead-acid batteries, and supercapacitors.
   

Catalytic CVD segment held USD 366.7 million in 2024 and is expected to hold USD 1.4 billion in 2034.
 

• There has been remarkable progress in the methods and techniques used in the synthesis of Chemical vapor deposition (CVD). The wide acceptance of CVD stems from its advancement as a material processing technology from a variety of substrates, which has multiple benefits compared to the physical vapor deposition techniques.
   
• For example, manufacturing of sophisticated materials required for electronics and semiconductor industry is possible owing to the superb conformality and high deposition rates tunable with CVD. The use of carbon nanotubes and graphene for next-generation electronics has widened the scope of CVD market. One such development is the CVD synthesis of high-performance transparent flexible electrodes.
   

The carbon nanotubes market is divided into automotive, aerospace and defense, medical, chemical & polymers, energy, electricals & electronics, and others. Chemical & polymers segment held USD 669.8 million in 2024 and is expected to grow at a 16.7% of CAGR during the forecast period.
 

• Carbon nanotubes remarkably make the polymers stronger, thermal, and electrical properties which make them more sophisticated. Their bendable yet strong structure allows for an increase in both the strength and functionality of polymeric materials.
   
• The outstanding properties of carbon nanotubes, which outperform competitive materials, as well as the ever-increasing demand and supply for high performance and energy saving materials have greatly boosted their incorporation into polymer composites and, therefore, increased market volume.
   

The carbon nanotubes market is dominated by U.S. which was valued at USD 1.3 billion of total revenue in 2024.
 

• The US is at the forefront of innovation and application development for novel lightweight materials as well as CNTs batteries and electronics. Besides, the increasing utilization of CNTs in the emerging technologies such as 5G networks and electric vehicles is further accelerating the market growth. With growing manufacturing capacity and increased spending in environmentally friendly materials, the US is expected to grow significantly in the carbon nanotubes market.
   
• Canada’s targets for the forecast period looks promising with remarkable CAGR driven by investment and focus on advanced clean energy and technology manufacturing. The focus on R&D in nanotechnology is fuelling the adoption of CNTs in electronics, automotive, and aerospace industries. In addition, the region’s focus on renewable and green technologies including lightweight materials for energy saving vehicles foster the carbon nanotube’s growth. In this regard, Canada’s supportive innovation ecosystem position it for rapid development in the global marketplace.
   

Carbon Nanotubes Market Share

Top 5 companies include Arkema, Cabot Corporation, Continental Carbon Company, Klean Industries, and Nanocyl. Arkema S.A is a leader on a global scale in the specialty chemicals and advanced materials market, the company has a standout positioning in the market for carbon nanotubes (CNT). The company’s Graphistrength brand is one of the foremost producers of multi-walled carbon nanotubes (MWCNTs) which find extensive applications in automotive, aerospace, energy storage, and electronics.
 

Arkema has pledged its efforts for sustainable development and the creation of advanced materials, focusing on enhancing CNT innovation, batteries and MWCNT composites, as well as advanced coatings. Likewise, Cabot Corporation, a US based company, is also a big player in the CNT market who specializes on conductive and reinforcing nanomaterials. The company’s carbon nanotubes are applied in lithium-ion batteries, automotive, and polymer composite industries due to their high electrical conductivity, mechanical strength, and thermal stability.
 

As a result, Cabot has become a leader in building CNT based energy storage devices, lightweight structures, and systems for advanced electronics because of its expertise in high-performance materials.
 

Carbon Nanotubes Market Companies

Some of the eminent market participants operating in the carbon nanotubes industry include:

• Arkema
• Cabot Corporation
• Carbon Solutions
• Chasm Advanced Materials
• Continental Carbon Company
• Klean Industries
• Kumho Petrochemical
• LG Chem
• Nanocyl 
• Nanoshel
• Raymor Industries
• Showa Denko
• Thomas Swan
   

Klean Industries, based in Canada and operating within the hawk-like arms of waste reclamation and clean technology, is one of the emerging players within CNT industry. Klean plans to construct high-quality carbon graphene and carbon nanotubes from recycled carbon plastics and obsolete tires. Klean Industries is seeking to integrate the circular economy concepts by providing CNT substitutes that could be used in many electronics, energy and composite industries with minimal environmental impact. 
 

A large South Korean conglomerate in petrochemicals, Kumho Petrochemical, has significance within the CNT sector, specializing in conductive and high strength materials. Kumho Petrochemical makes a variety of polymer composite products like batteries, and automotive parts with the company’s CNTs. Because of its comprehensive R&D, Kumho Petrochemical can enhance the dispersion and compatibility of the company’s CNTs with other polymers which benefit the light weight and conductive materials industry.
 

Tailoring energy storage systems puts LG Chem at the forefront of CNTs manufacturing in South Korea. Their single walled and multi walled carbon nanotubes possess tremendous market demand for use in the construction of lithium-ion battery electrodes due to the extreme increase in conductivity as well as energy density of the electrodes. To satisfy the increasing demand from electric vehicles (EVs) and the next generation energy storage systems, LG Chem is actively investing in research and development on CNT technology to strengthen their growing battery materials division.
 

Nanocyl, a Belgian company, is a specialized producer of multi-walled carbon nanotubes (MWCNTs) nanomaterials. It is reputed because of the trademark NC7000 according to which Nanocyl CNTs enhance electrical and mechanical properties, as well as thermal stability, of composites, coating, and batteries. The company covers a wide range of industries such as automotive, aerospace, and electronics, which is why they focus on integrating sustainable practices into their manufacturing processes.
 

Technical Textile Industry News

• In August 2022, Klean Industries collaborated with Kodexe in August of 2022 as an effort to enhance blockchain technology in the realms of waste recycling and resource recovery.
   
• In March 2022, Cabot Corporation purchased Tokai Carbon Company Ltd. (TIANJIN), a carbon plant located in China, in March 2022, which in turn will increase Cabot’s manufacturing capability to grow its battery materials product line while servicing the existing carbon black customers.
   
• In 2021, Mason Graphite partnered with Thomas Swan to establish Black Swan Graphene, a mass producer of graphene, in 2021.
   
• In July 2022, Polimeros Especiales, an emulsion resin producer in Mexico, was acquired by Arkema S A. These companies will continue to develop innovative water-based solutions for more sustainable resin offerings for the dynamic U.S. market.
   

The carbon nanotubes market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in (USD Billion) & Volume in (Kilo Tons) from 2021 – 2034 for the following segments:

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Market, By Product

• Single-wall carbon nanotubes
• Multi-wall carbon nanotubes

Market, By Technology

• Floating catalyst
• Laser ablation of graphite
• Chemical vapor deposition
• Catalytic CVD
• High pressure carbon monoxide
• Arc discharge
• Others

 Market, By Application

• Automotive
• Aerospace and defense
• Medical
• Chemical & polymers
• Energy
• Electricals & electronics
• Others

The above information is provided for the following regions and countries:

• North America 
  • U.S.
  • Canada
• Europe 
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Russia
• Asia Pacific 
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Latin America 
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa 
  • Saudi Arabia
  • South Africa
  • UAE