Carbon Nanotubes Market by Product (Single Walled Carbon Nanotubes (SWCNT) and Multi Walled Carbon Nanotubes (MWCNT)), by End-User Industry (Electronics & Semiconductors, Energy & Storage, Chemical Material & Polymers, Medical & Structural Composites and Other End-user Industries) and by Technology (Arc Discharge, Laser Ablation, Chemical Vapor Deposition (CVD), Catalytic CVD, High Pressure Carbon Monoxide, CoMoCAT, Floating catalyst, and Others) - Global Opportunity Analysis and Industry Forecast 2022 – 2030

Carbon Nanotubes Market

Industry:  Materials & Chemicals | Publish Date: Dec 2022 | No of Pages:  N/A | No. Tables:  N/A | No. Figures:  N/A

Market Definition:

The global Carbon Nanotubes Market size was valued at USD 2.63 billion in 2021 and is predicted to reach USD 7.11 billion by 2030 with a CAGR of 11.7% from 2022-2030.

Carbon nanotubes (CNT) are carbon allotropes that are useful for nanotechnology, optics, and electronics. CNTs are utilised as antennas for the radio and other electromagnetic devices such as relays and MRI machines. Use of nanotubes enhances electrical and thermal conductivity that makes it suitable for the manufacturing of automotive parts along with its utilization as a composite in electromagnetic shielding materials. Therefore, it is considered as a replacement of traditional carbon black due to better durability and higher thermal potential that allows heat dissipation in semiconductor devices.

Market Dynamics and Trends

Increasing demand for carbon nanotubes in various end-use industries including electronics, polymers, energy, and automotive have been driving the growth of CNT market. For instance, in January 2022, Sky Nano had produced carbon nanotubes from power plant emission that would be used for various industries including marine and aerospace. In addition, CNT’s application in water filters used for water purification, device modelling, and circuit management is also expected to further propel the growth of carbon nanotube market during the forecast period. For instance, Knoxville had started producing a new type of carbon nanotube from TVA carbon dioxide emission from January 2022. This not only helps minimizing carbon emission from fossil fuel power plants across the world but would further foster the CNT market growth.

However, carbon nanotubes have lower life cycle and are non-biodegradable in nature, which restrains the growth of the market. In addition, the fact that it requires higher electric potential for its usage in energy & storage industry is another major reason that limits the market growth. On the contrary, growing use of carbon nanotubes for manufacturing medical equipment used for selected cancer cell destruction is expected to create ample growth opportunities for the carbon nanotubes market players in the coming years.

Market Segmentations and Scope of the Study:

The carbon nanotubes market share is analysed based on product, end-user, technology, and geography. Based on product, the market is segmented into single walled carbon nanotubes (SWCNT) and multi walled carbon nanotubes (MWCNT). Based on end- user, it is classified into electronics & semiconductors, energy & storage, chemical material & polymers, medical, structural composites applications and other end-user industries. The electronics & semiconductors market is sub-segmented into integrated circuits (ICs), flexible display, superconductors, transistors, industrial sensors and others. The energy & storage market is sub categorised into lithium-ion batteries, fuel cells, solar PV cells, hydrogen storage, electrochemical supercapacitors, propellants and others. The chemical material and polymer is sub-divided into coatings, adhesive & sealants, water filtration, catalysts and others. The medical market is further sub-categorised into transdermal drug delivery, cancer treatment, proteomics and others. The structural composites application is sub-fragmented into defence, sporting goods, wind turbine blades, light vehicles/automotive, construction & infrastructure, aerospace & others. Based on technology, the market is segmented into arc discharge, laser ablation, chemical vapor deposition (CVD), catalytic CVD, high pressure carbon monoxide, coMoCAT, floating catalyst, and others. The geographical segment of the advanced ceramics market covers North America, Europe, Asia Pacific, and Rest of the World.

Geographical Analysis

Asia-Pacific region holds the lion share of carbon nanotubes market at present and is expected to continue dominating the market during the forecast period. This is attributed to factors such as increasing usage of CNT in smartphones, OLED TVs, and tablets manufacturing in countries such as China, Japan, and South Korea. China is the largest producer and consumer of carbon nanomaterials in Asia-Pacific region. The availability of raw materials and the low production cost have been supporting the growth of the carbon nanotube market in this region. Moreover, the Japan manufactures aircraft parts especially for commercial and defence aircrafts such as Boeing 767 and Boeing 777x, which is generating demand for CNT in this region.

However, North America is expected to show a significant rise in the carbon nanotubes market due to rapid increase in the adoption of CNT in electromagnetic shields and polymers such as Polyethylenimine and Polyether ether ketone. Moreover, rising focus on the development of high-end products such as supercomputers and boat hulls are expected to drive the CNT market growth in this region.

Competitive Landscape

The carbon nanotube market is comprised of various market players such as Arkema S.A., Cabot Corporation, Chasm Advanced Materials Inc, Cheap Tubes, Hyperion Catalysis International, Jiangsu Tianna Technology Co.Ltd, Klean Industries Inc, Kumho Petrochemicals, LG chem, and Nano-c. These market players are adopting various joint venture strategies and planning expansion of business across various regions to maintain their dominance in the carbon nanotube market.

For instance, in August 2020, Chasm Advanced Materials Inc joined hands with Henkel Adhesive Technologies (Henkel AG & Co. KGaA). Henkel had announced that it would take one of CHASM’s signis line of patented CNT inks under its LOCTITE brand. LOCTITE ECI 5006 E&C is a carbon nanotube ink designed for printing of screen and transparent conductors on a wide range of plastic films produced using CHASM's V2V technology. Also, in May 2020, LG Chem had expanded carbon nanotube production in the new plant in Seoul. This new plant adds an annual production capacity of 1,200 tons, the largest in the world for a single production line.

KEY BENEFITS

  • The carbon nanotube market report provides the quantitative analysis of the current market and estimations through 2022-2030 that assists in identifying the prevailing market opportunities to capitalize on.

  • The study comprises a deep dive analysis of the high carbon nanotube market trend including the current and future trends for depicting the prevalent investment pockets in the market.

  • The information related to key drivers, restraints and opportunities and their impact on the carbon nanotube market is provided in the report.

  • The competitive analysis of the market players along with their market share in the carbon nanotube market

  • The SWOT analysis and Porters Five Forces model is elaborated in the study.

  • Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

KEY MARKET SEGMENTS

By Product

  • Multi Walled Nanotubes (MWCNT)

  • Single Walled Nanotubes (SWCNT)

By End User

  • Electronics & Semiconductors

    • Integrated Circuits (ICS)

    • Flexible Display

    • Superconductors

    • Transistors

    • Industrial Sensors

    • Others

  • Energy & Storage

    • Lithium-ion Batteries

    • Fuel Cells

    • Solar PV Cells

    • Hydrogen Storage

    • Electrochemical Supercapacitors

    • Propellants

    • Others

  • Chemical Material & Polymers

    • Coatings, Adhesive & Sealants

    • Water Filtration

    • Catalysts

    • Others

  • Medical

    • Transdermal Drug Delivery

    • Cancer Treatment

    • Proteomics

    • Others

  • Structural Composites Applications

    • Defense

    • Sporting Goods

    • Wind Turbine Blades

    • Light Vehicles/Automotive

    • Construction & Infrastructure

    • Aerospace & Others

  • Other End-user Industries

By Technology

  • Arc Discharge

  • Laser Ablation

  • Chemical Vapor Deposition (CVD)

  • Catalytic CVD

  • High Pressure

  • Carbon Monoxide

  • CoMoCAT

  • Floating catalyst

  • Others

By Geography

  • North America

    • U.S

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • RoW

    • UAE

    • Saudi Arabia

    • South Africa

    • Brazil

    • Remaining Countries

REPORT SCOPE AND SEGMENTATION:

Parameters

Details

Analysis Period

2021–2030

Base Year Considered

2021

Forecast Period

2022–2030

Market Size Estimation

Billion (USD)

Market Segmentation

By Product (Single Walled Carbon Nanotubes (SWCNT) and Multi Walled Carbon Nanotubes (MWCNT)), by End-User Industry (Electronics & Semiconductors, Energy & Storage, Chemical Material & Polymers, Medical & Structural Composites and Other End-user Industries) and by Technology (Arc Discharge, Laser Ablation, Chemical Vapor Deposition (CVD), Catalytic CVD, High Pressure Carbon Monoxide, CoMoCAT, Floating catalyst, and Others)

Geographical Segmentation

North America (U.S., Canada, Mexico) Europe (UK, Germany, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific), Rest of the World (UAE, Saudi Arabia, South Africa, Brazil, Remaining countries)

Companies Profiled

Arkema S.A., Cabot Corporation, Chasm Advanced Materials Inc, Cheap Tubes, Hyperion Catalysis International, Jiangsu Tianna Technology Co.Ltd, Klean Industries Inc, Kumho Petrochemicals, LG chem, and Nano-c.

column chart pie chart

KEY BENEFITS

  • The carbon nanotube market report provides the quantitative analysis of the current market and estimations through 2022-2030 that assists in identifying the prevailing market opportunities to capitalize on.

  • The study comprises a deep dive analysis of the high carbon nanotube market trend including the current and future trends for depicting the prevalent investment pockets in the market.

  • The information related to key drivers, restraints and opportunities and their impact on the carbon nanotube market is provided in the report.

  • The competitive analysis of the market players along with their market share in the carbon nanotube market

  • The SWOT analysis and Porters Five Forces model is elaborated in the study.

  • Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

KEY MARKET SEGMENTS

By Product

  • Multi Walled Nanotubes (MWCNT)

  • Single Walled Nanotubes (SWCNT)

By End User

  • Electronics & Semiconductors

    • Integrated Circuits (ICS)

    • Flexible Display

    • Superconductors

    • Transistors

    • Industrial Sensors

    • Others

  • Energy & Storage

    • Lithium-ion Batteries

    • Fuel Cells

    • Solar PV Cells

    • Hydrogen Storage

    • Electrochemical Supercapacitors

    • Propellants

    • Others

  • Chemical Material & Polymers

    • Coatings, Adhesive & Sealants

    • Water Filtration

    • Catalysts

    • Others

  • Medical

    • Transdermal Drug Delivery

    • Cancer Treatment

    • Proteomics

    • Others

  • Structural Composites Applications

    • Defense

    • Sporting Goods

    • Wind Turbine Blades

    • Light Vehicles/Automotive

    • Construction & Infrastructure

    • Aerospace & Others

  • Other End-user Industries

By Technology

  • Arc Discharge

  • Laser Ablation

  • Chemical Vapor Deposition (CVD)

  • Catalytic CVD

  • High Pressure

  • Carbon Monoxide

  • CoMoCAT

  • Floating catalyst

  • Others

By Geography

  • North America

    • U.S

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • RoW

    • UAE

    • Saudi Arabia

    • South Africa

    • Brazil

    • Remaining Countries

REPORT SCOPE AND SEGMENTATION:

Parameters

Details

Analysis Period

2021–2030

Base Year Considered

2021

Forecast Period

2022–2030

Market Size Estimation

Billion (USD)

Market Segmentation

By Product (Single Walled Carbon Nanotubes (SWCNT) and Multi Walled Carbon Nanotubes (MWCNT)), by End-User Industry (Electronics & Semiconductors, Energy & Storage, Chemical Material & Polymers, Medical & Structural Composites and Other End-user Industries) and by Technology (Arc Discharge, Laser Ablation, Chemical Vapor Deposition (CVD), Catalytic CVD, High Pressure Carbon Monoxide, CoMoCAT, Floating catalyst, and Others)

Geographical Segmentation

North America (U.S., Canada, Mexico) Europe (UK, Germany, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific), Rest of the World (UAE, Saudi Arabia, South Africa, Brazil, Remaining countries)

Companies Profiled

Arkema S.A., Cabot Corporation, Chasm Advanced Materials Inc, Cheap Tubes, Hyperion Catalysis International, Jiangsu Tianna Technology Co.Ltd, Klean Industries Inc, Kumho Petrochemicals, LG chem, and Nano-c.

KEY PLAYERS

  • Arkema S.A.
  • Cabot Corporation
  • Chasm Advanced Materials Inc
  • Cheap Tubes
  • Hyperion Catalysis International
  • Jiangsu Tianna Technology Co.Ltd
  • Klean Industries Inc
  • Kumho Petrochemicals
  • LG chem
  • Nano-c

Frequently Asked Questions
What will be the worth of global Carbon Nanotubes market by the end of 2030?

According to the report published by Next Move Strategy Consulting, the Carbon Nanotubes market business is expected to hit at $7.11 billion (USD) by 2030.

Which region is expected to hold the highest market share in the Carbon Nanotubes Market?

Asia-Pacific is expected to hold the highest market share in the global market. The region is expected to witness remarkable growth as it houses the major key players in the market.

Which are the top companies in the Carbon Nanotubes industry?

Arkema S.A., Cabot Corporation, Chasm Advanced Materials Inc, Cheap Tubes, Hyperion Catalysis International, Jiangsu Tianna Technology Co.Ltd, Klean Industries Inc, Kumho Petrochemicals, LG chem, and Nano-c.

What are the market segmentations and scope of the study?

The global Carbon Nanotubes market share analysis is based on product, end-user, technology, and geography.

How big is the Carbon Nanotubes market?

Currently (in 2021), the market value stands at USD 2.63 billion and it is anticipated to reach USD 7.11 billion by 2030.