Carbon Nanotubes Market - Size, Industry Share, Growth Trends and Forecasts (2025 - 2032)

By Type:

Based on type, the market is segmented into single-walled carbon nanotubes (SWCNTS), multi-walled carbon nanotubes (MWCNTS), and others.

Trends in the type:

• Increasing adoption of SWCNTs due to their one-dimensional structures and high electrical conductivity is driving the market.
• Rising trend towards the adoption of MWCNTs due to their enhanced mechanical strength, photostability, and ease of surface modification is driving the market.

Multi-walled carbon nanotubes (MWCNTS) segment accounted for the largest revenue share in the overall carbon nanotubes market share in 2024.

• A multi-walled carbon nanotube is an allotrope of carbon that is nested within each other, composed of multiple levels of graphene rolled up altogether.
• MWCNs possess exceptional electrical and thermal connectivity properties making them ideal for diverse applications in medical, chemical, automotive, and other sectors.
• Additionally, multi-walled CNTs are used sensors for tactile sensing in robotic hands and as electrochemical sensors for detecting heavy metals.
• For instance, Nanoshell offers nitrogen-dropped multi-walled CNTs with 99.9% purity, which can be used in drug delivery, biosensors, transistors, lithium batteries, and others.
• Therefore, according to the analysis, the increasing adoption of MWCNTs is driving the carbon nanotube market.

Single-walled carbon nanotubes (SWCNTS) segment is anticipated to register the fastest CAGR during the forecast period.

• In CNTs, SWCNTs consist of multiple layers of graphene rolled into tubes with diameters around 0.8 to 2 nanometers.
• Moreover, SWCNTs are known for high purity, high conductivity, and high electron mobility making them desirable for achieving optimal electronic and mechanical properties.
• For instance, NoPo Nanotechnologies provides high-quality single walled nanotubes like single chiral carbon nanotube, battery-grade carbon nanotube, and others offering 80% to 99.9% of purity.
• Therefore, increasing advancements associated with single-walled carbon nanotube are anticipated to boost the carbon nanotubes market size during the forecast period.

By Synthesis Method:

Based on the synthesis method, the market is segmented into chemical vapor deposition (CVD), arc discharge, and laser ablation.

Trends in the synthesis method:

• Increasing adoption of chemical vapor deposition due to its ability to control growth time, lower temperature requirements, and ability to precisely control the diameter.
• Factors including enhanced control over nanotube growth and potential for high-yield carbon nanotube production are driving the segment development.

Chemical vapor deposition (CVD) segment accounted for the largest revenue in the overall market in 2024 and it is anticipated to register a substantial CAGR growth during the forecast period.

• Chemical vapor deposition refers to a gas-phase reaction where carbon-containing precursors are decomposed at a high temperature, leading to the deposition and growth of CNTs.
• Moreover, the chemical vapor deposition method is used to prepare large-scale chiral nanotubes for large-scale production due to its cost-effectiveness and ability to achieve high yields.
• In addition, floating catalyst chemical vapor is a specific type of chemical vapor decomposition technique utilized to integrate the nanotubes, particularly in single-walled CNTs.
• Therefore, the rising adoption of chemical vapor deposition for synthesis of carbon nanotube is driving the carbon nanotubes market share.

By Application:

Based on the application, the market is segmented into chemical & polymers, energy storage, structural composites, medical, and others.

Trends in the application:

• The adoption of carbon nanotube is primarily driven by factors such as advancements in high-performance thermoplastics, reduced weight of structures, and its ability to achieve remarkable electrostatic dissipation.
• Factors including high aspect ratio, and enhanced flexural modules in epoxy composite are driving the structural composite segment.

Structural composites segment accounted for the largest revenue in the overall market in 2024.

• Structural composite refers to materials where CNTs are combined with single or multiple materials to enhance their structural properties.
• Moreover, these nanotubes are often used as a reinforcement agent within a polymer matrix due to their exceptional mechanical properties.
• For instance, Cheap Tubes provides carbon nanotube epoxy composite in its product offerings, which is the latest development of their integration of nanomaterial
• Carbon nanotube epoxy materials are used in various industries like aerospace, marine, automotive, and others.
• Therefore, according to carbon nanotubes market analysis, the above factors are driving the carbon nanotubes market trends.

Energy storage segment is anticipated to register the fastest CAGR growth during the forecast period.

• Energy storage systems like batteries, supercapacitors, and fuel cells utilize CNTs to enhance their capacity and stability.
• Moreover, these nanotubes combined with various materials like polyaniline create flexible composites that are used in supercapacitors.
• Additionally, these nanotubes are used in lithium-ion batteries that are further used in electric vehicles to enhance rate capabilities for faster charging and discharging.
• Hence, according to the market analysis, the above factors are expected to propel the carbon nanotubes market demand during the forecast period.

By End-User:

Based on the end user, the market is segmented into automotive, aerospace, electronics, energy, healthcare, and others.

Trends in the end user:

• Increasing technological advancements such as high-speed data transmission, energy storage, and controlled synthesis are primary factors driving the demand for CNTs in the electronics industry.
• Factors like enhanced rate capability and extended life cycles are key trends driving the adoption of nanotubes in the energy segment.

Electronics segment accounted for the largest revenue share of 34.85% in the overall market in 2024.

• In the electronics sector, CNTs are used in various electronic devices like batteries, sensors, semiconductors, and others to enhance connectivity and improve the performance of electronic devices.
• Moreover, CNTs are often used as transparent conductive films in flexible displays and touchscreens since they provide an enhanced user experience with features like force sensing and multi-touch.
• For instance, Nanografi Advanced Materials is known for supplying a wide range of high-quality CNTs including single-walled nanotubes and multi-walled nanotubes. These nanotubes have exceptional mechanical, electrical, and thermal properties, making them ideal for use in the electronics sector.
• Therefore, the aforementioned factors are propelling the carbon nanotubes market trends.

The energy segment is anticipated to register the fastest CAGR growth during the forecast period.

• Carbon nanotube plays an essential role in the energy sector particularly, due to their improved performance in devices like batteries, supercapacitors, and others.
• Single-walled CNTs are often used in batteries to withstand mechanical stress associated with charging and discharging cycles.
• Moreover, these nanotubes are known for their exceptionally low density, which makes them ideal for use in various energy storage devices among others.
• Therefore, the growing energy sector is projected to drive carbon nanotubes market expansion during the forecast period.

Regional Analysis:

The regions covered are North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Asia Pacific region was valued at USD 2.00 Billion in 2024. Moreover, it is projected to grow by USD 2.32 Billion in 2025 and reach over USD 7.54 Billion by 2032. Out of this, China accounted for the maximum revenue share of 44.65%. As per the market analysis, there is an increasing adoption of CNTs in the Asia-Pacific region for facilitating high aspect ratio for enhanced composite reinforcement in the structural composite sector. Additionally, increasing investments in the electronics, automotive, defense, and other sectors are further accelerating the carbon nanotubes market expansion.

• For instance, in 2024, Nanocyl, a Birla Carbon brand showcased its latest multi-walled carbon nanotube at Nanotech 2024. Thus, the above factors are expected to boost the market in the Asia-Pacific region.

North America is estimated to reach over USD 4.56 Billion by 2032 from a value of USD 1.26 Billion in 2024 and is projected to grow by USD 1.45 Billion in 2025. In North America, the adoption of CNTs is driven by the rising adoption of single-walled nanotubes and increasing advancements in chemical vapor deposition in the region. Similarly, rising innovations in the energy and aerospace sectors and increasing adoption of carbon nanotubes due to their ultrasensitive sensing technology and enhanced performance are driving the market.

• For instance, Nanoshell, a U.S.-based company offers MWCNTs with high purity levels ranging from 95% to 99% and diameters ranging from 10-30 nanometers, making it exceptional for various applications including antifouling paint, drug delivery, gas storage, biosensors, and others.

Additionally, the regional analysis depicts that factors such as increasing investments in the healthcare sector, rising automotive production, and increasing electronics manufacturing are driving the carbon nanotubes market demand in Europe. Further, as per the carbon nanotubes market analysis, the market demand in Latin America, Middle East, and African regions is expected to grow at a considerable rate due to the rising demand for carbon nanotube in automotive sector, increasing investments in healthcare industry along with growing technological advancements in electronics sector among others.