Carbon Nanotubes Market - Forecast(2025 - 2031)

Carbon Nanotubes Market Overview

The Carbon Nanotubes Market size is estimated to reach $18.2 Billion by 2031, growing at a CAGR of 17.9% during the forecast period 2025-2031. Carbon nanotubes (CNTs) are cylindrical structures composed of carbon atoms arranged in a hexagonal lattice, offering exceptional strength, conductivity, and versatility. CNTs are increasingly used across various industries due to their remarkable properties like high tensile strength, lightweight nature, and excellent electrical and thermal conductivity. The market for CNTs is driven by rising demand for advanced materials with high performance, especially in electronics and energy storage devices such as lithium-ion batteries and supercapacitors. Additionally, advancements in nanotechnology, growing investments in R&D, and increasing adoption of CNTs in composites and coatings are further fueling the market's growth. As industries seek innovative solutions for enhanced performance and energy efficiency, the demand for CNTs is set to grow exponentially.

Carbon Nanotube based sensors are emerging as a promising technology in the field of viral monitoring, offering potential for applications in diagnostics and medical monitoring. For example, CNT-based biosensors have shown potential in blood sugar monitoring and in detecting viruses such as Covid-19. These sensors operate by fluorescing when they bind to specific molecules; the fluorescence intensity increases in proportion to the concentration of the target analyte. Additionally, the commercialization of CNT-based products is also gaining significant traction. In December 2023, Imec and Mitsui Chemicals announced a strategic partnership focused on the commercialization of CNT-based pellicles for extreme ultraviolet (EUV lithography which play a key role in the semiconductor industry, where EUV lithography is essential for producing smaller and more efficient chips. By integrating CNT-based pellicles into the lithography process, this partnership aims to enhance the performance and cost-effectiveness of EUV technology.

Market Snapshot: 

Carbon Nanotubes Market- Report Coverage:

The “Carbon Nanotubes Market Report - Forecast (2025-2031)” by IndustryARC, covers an in-depth analysis of the following segments in the Carbon Nanotubes Market.

Key Takeaways:

•    North America Leads the Market

North America accounted for largest market share in 2024, driven by the electronics industry, as companies increasingly seek advanced materials to enhance the performance of electronic devices. The region's strong demand for high-performance materials, such as CNTs, can be attributed to the growing need for improved conductivity, strength, and lightweight properties in electronics. According to the Electronic Design Market Data (EDMD) report by the ESD Alliance, the Americas reported a significant 17.2% increase in electronic system design products and services with $2,325.4 million procured in Q3 2024. This surge highlights the expanding role of innovative materials like CNTs in the development of cutting-edge electronic products. As the demand for more efficient, compact, and powerful electronics continues to rise, the integration of CNTs into electronic devices is set to accelerate, further solidifying North America's position as a leader in the CNT market. 

•    Chemical Vapor Deposition (CVD) method dominates the Market

The Chemical Vapor Deposition (CVD) method continues to dominate the carbon nanotube (CNT) market due to its scalability and effectiveness in producing high-quality CNTs. CVD allows for precise control over the growth of CNTs, making it the preferred technique for industrial applications. In February 2024, Huntsman, a chemical manufacturer, introduced a new twist to the traditional CVD process by utilizing a floating-catalyst CVD system to produce multiwalled carbon nanotubes (MWCNTs). In this method, operators feed sulfur and ferrocene into a reaction chamber, where they combine to form a catalyst. The reactor also decomposes methane, which produces hydrogen gas and carbon, leading to the growth of CNTs on the catalyst particles. This innovative approach allows for more efficient production of high-quality MWCNTs, which are used in a range of applications from electronics to energy storage.In addition to advancements in CVD techniques, research is also progressing with alternative methods for CNT synthesis. In February 2024, researchers at the Institute of Advanced Study in Science and Technology (IASST), India, developed a novel method for directly synthesizing CNTs on glass substrates using the Plasma Enhanced Chemical Vapor Deposition (PECVD) technique. By generating plasma through a specially designed spiral-shaped fused hollow cathode source, this method allows for CNT growth at a relatively low temperature of 750°C. This innovation could open up new possibilities for integrating CNTs into various substrates and advancing their use in applications like sensors, displays, and flexible electronics. 

•    Single-Walled Carbon Nanotubes (SWCNTs) are the largest segment

Single-walled carbon nanotubes (SWCNTs) lead the carbon nanotube market due to their superior properties, such as exceptional electrical conductivity, strength, and flexibility. For example, in August 2024, OCSiAl, a leading industrial manufacturer of SWCNTs, made significant strides in expanding its production capabilities. The company is set to open a new European facility in Serbia in October 2024, with an annual capacity of 3,000 tons of nanotube dispersion. This facility will support the ProLogium Gigafactory project in Dunkirk, France, further highlighting the growing demand for SWCNTs, especially in industries such as energy storage and coatings. The expansion of OCSiAl's production capacity underscores the increasing importance of SWCNTs in various high-tech applications, particularly as their use in lithium-ion batteries, conductive coatings, and other advanced materials continues to rise.Further innovation in SWCNT production is also underwayas in  August 2024, Professor Takahiro Maruyama’s team at Meijo University developed a novel approach for producing SWCNTs using cobalt (Co) and iridium (Ir) nanoparticle catalysts in a liquid-phase synthesis process. This breakthrough offers a more scalable and efficient method for producing SWCNTs, potentially lowering production costs and enhancing their availability for commercial use. By improving the scalability and efficiency of SWCNT production, this development opens up new opportunities for their integration into a variety of applications, including electronics, energy storage, and medical technologies. 

•    Space and Aerospace Advancements Drives the Market

The space and aerospace sectors are experiencing significant advancements with the integration of carbon nanotubes (CNTs), which are helping to improve the performance and durability of spacecraft materials. In February 2024, Carbice Corporation announced a collaboration with RTX’s subsidiary, Blue Canyon Technologies, to provide aligned CNT solutions for critical spacecraft programs. Carbice's signature product, the Carbice Space Pad, utilizes CNT technology to enhance thermal management in satellite systems. This collaboration ensures that Carbice's aligned CNT materials will be incorporated into nearly all satellite solutions developed by Blue Canyon Technologies. The use of CNTs in these applications is crucial for optimizing the efficiency, reliability, and longevity of spacecraft, particularly as the demand for more advanced, smaller, and cost-effective satellite solutions continues to grow in the aerospace industry. The adoption of CNTs in space innovation highlights their potential in addressing the unique challenges faced in aerospace engineering, such as heat dissipation, material strength, and weight reduction. CNTs, with their remarkable thermal and mechanical properties, are ideal for improving the performance of satellite components, including thermal management systems and structural elements
 

Key Market Players: 

Product/Service launches, approvals, patents and events, acquisitions, partnerships, and collaborations are key strategies adopted by players in the Carbon Nanotubes Market. The top 10 companies in this industry are listed below:
1.    Resonac Holdings Corporation
2.    Carbon Solutions, Inc
3.    Arkema
4.    Cabot Corporation
5.    Birla Carbon
6.    Cheap Tubes Inc.
7.    Zeon Corporation
8.    LG Chemical Limited
9.    OCSiAl LLC
10.    Canatu

Scope of the Report: 

    
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