Press Release

Global Carbon Nanotubes (CNTs) Market to Hit USD 3.05 Billion in 2023 & Record 17.4% CAGR by 2030

The Global Carbon Nanotubes (CNTs) Market size was valued at USD 3.05 billion in 2023 and is projected to grow at a CAGR of around 17.4% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in the recent research report. The expansive utilization of carbon nanotubes in various verticals, including electronics, energy, textile manufacturing as well as defense & aerospace industries alongside the burgeoning growth within the medical sector and increased implementation of advanced technologies are credited for propelling market expansion.

Also, carbon nanotubes possess outstanding mechanical properties & electronic capabilities, making them highly advantageous for the electronics industry. As a result of these exceptional characteristics, there has been an increase in demand for CNTs within this sector, leading to projected growth of its global market during the forecast period.

It is anticipated that by 2030, the demand for carbon nanotubes will escalate due to heightened commercialization and enhanced quality.  Moreover, in light of their ability to strengthen polymers while providing a lightweight composition, carbon nanotubes act primarily as reinforcing material within the polymer industry. As such, the widespread incorporation of CNTs across several end-use sectors is expected to emerge as vital in propelling market expansion to carbon nanotube trends, further states the research report, “Global Carbon Nanotubes (CNTs) Market Analysis, 2024.”

Global Carbon Nanotubes (CNTs) Market Segmentation Analysis

Multi-walled Carbon Nanotubes (MWCNT) to Lead the Carbon Nanotubes Industry

Based on the type segment, the market is further bifurcated into Multi-walled Carbon Nanotubes (MWCNT) and Single-walled Carbon Nanotubes (SWCNT). Throughout the projected timeframe, MWCNT is expected to retain its position with a major market share due to wide-ranging applications in diverse fields, such as conductive transparent electrodes, electrical conductivity systems, displays, and nano-devices for supercapacitors. Additionally, it has become a popular choice within solar industries and batteries. Proper integration of this substance into composite structures results in significant increases in conductivity levels, which further drives demand across multiple industry sectors.

Asia-Pacific Dominating Other Regional Markets

Based on the region, the Asia-Pacific region is predicted to dominate the Carbon Nanotubes Market in the coming years, with a substantial market share. Growth within key industries such as automotive, construction, aerospace, and electronics across this region is expected to drive an increase in demand for CNTs. This surge can be attributed to polymer application demands from major markets including China, India, Malaysia, and Japan.

Furthermore, the considerable expansion of the regional industry growth can be attributed to a rise in government investments in solar cell manufacturing coupled with elevated production output of solar power. Moreover, it is expected that there will be an increase in consumer electronics industry growth within the Asia-Pacific region, which would subsequently contribute towards the global carbon nanotubes market position.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including LG Chem, Cabot Corporation, Resonac Holdings Corporation, Jiangsu Cnano Technology Co., Ltd., Timesnano (Chengdu Organic Chemicals Co. Ltd.), Cheap Tubes, Inc., Carbon Solutions, Inc., OCSIAL, Nanocyl Sa, Arkema Sa, Sumitomo Corporation, and Others are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the Global Carbon Nanotubes (CNTs) Market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various regions?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?