Carbon Nanotubes Market Growth Analysis | 2022-2028

Market Insights

The carbon nanotubes market was estimated at USD 880 million in 2021 and is likely to grow at a CAGR of 14.19% during 2022-2028 to reach USD 2244.73 million in 2028.

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The claim for carbon nanotubes has been growing rapidly in various applications such as integrated circuits, field emission displays, hydrogen storage, lithium batteries, solar PV cells, fuel cells, and drug delivery. Rising commercialization; ramping up of mounted dimensions; and technological progressions to minimize prices, enhance quality, and advance more innovative products are the drivers of the carbon nanotubes market. Presently, R&D is being adopted for seizing new applications, including glass ceramic, food material, structural steel, agriculture, and hair color. The relentless increase in the possibility of potential applications for carbon nanotubes will surge the demand going upward during the forecast period.

What are carbon nanotubes?

Carbon nanotubes are tiny allotropes of carbon with sizes measuring to the scale of nanometers. Driven by their thermal, electrical, and physical properties, they are considered to be the ideal claimant for various industrial applications. In addition, they bear remarkable properties such as excellent electrical conductivity and high tensile strength and also can withstand elevated temperatures.

Carbon nanotubes are extensively utilized in various industrial applications including electronics, polymers, medicine, aerospace, defense, automotive, and energy among a host of others.

Segments Analysis

By Type

Based on the type, the market is segmented into multi-walled carbon nanotubes and single-walled carbon nanotubes. The multi-walled carbon nanotube segment is estimated to register higher growth in the coming five years. The growth of this segment is attributed to the increasing use of MWCNTs in applications such as nanodevices, electrical conductivity, conductive transparent electrodes, super batteries, conductive heating films, chemical sensors, conductive nano inks, supercapacitors, energy storages, solar industries, and thermal interface material.

By Method Type

Based on the method type, the market is segmented as chemical vapor deposition (CVD), catalytic chemical vapor deposition (CCVD), high-pressure carbon monoxide reaction (HiPCO), and others. The CVD segment is estimated to register the highest growth during the forecast period. It is also projected to be the largest and fastest-growing segment in the coming five years. The growth of this segment is attributed to the fact that the CVD of hydrocarbons over metal catalytic agents is a traditional technique that has been employed by various manufacturers to manufacture carbon nanotubes. It is also an economical method, and it is anticipated that the price will further narrow down globally in the times to come.  

By Application Type

On the basis of application type, the market is segmented as advanced materials, electronics & semiconductors, chemicals & polymers, batteries & capacitors, energy, aerospace & defense, medical, and others. The electronics & semiconductor segment is estimated to depict the highest growth during the forecast period. The growth of the segment is owing to the specific properties of carbon nanotubes which deliver exceptional electrical properties for manufacturing electronic devices such as diodes and field effect transistors. 

Regional Insights

In terms of regions, the Asia-Pacific region is estimated to depict the highest growth during the forecast period, which can be attributed to the increasing demand for carbon nanotubes from countries such as China, South Korea, India, Vietnam, Singapore, and Taiwan. The strong demand in the region is the prime factor for the growth of the global carbon nanotubes market. China is expected to dominate the demand for carbon nanotubes owing to its rising industrial production. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories. 

By Type

• Single-Walled Carbon Nanotubes (SWCNT)
• Multi-Walled Carbon Nanotubes (MWCNT)

By Method Type

• Chemical Vapor Deposition (CVD)
• Catalytic Chemical Vapor Deposition (CCVD)
• High-Pressure Carbon Monoxide Reaction
• Others

By Application Type

• Electronics & Semiconductors 
• Advanced Materials
• Chemical & Polymers
• Aerospace & Defense
• Energy
• Medical
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players

Some of the major players in the carbon nanotubes market are-

• Arkema SA
• Arry International Group Limited
• Advanced Nanopower Inc.
• Chasm Advanced Materials, Inc.
• Chengdu Organic Chemicals Co. Ltd.
• Carbon Solutions, Inc.
• Cnano Technology Ltd.
• Cheap Tubes, Inc.
• Grafen Chemical Industries (Grafen Co.)
• Hanwha Corporation

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the types by application type.   

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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