Carbon Nanotubes Market Size and Share
Market Overview
| Study Period | 2019 - 2030 |
|---|---|
| Market Size (2025) | USD 6.89 Billion |
| Market Size (2030) | USD 17.38 Billion |
| Growth Rate (2025 - 2030) | 20.10% CAGR |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
|
Carbon Nanotubes Market Analysis by Mordor Intelligence
The Carbon Nanotubes Market size is estimated at USD 6.89 billion in 2025, and is expected to reach USD 17.38 billion by 2030, at a CAGR of 20.10% during the forecast period (2025-2030). The strong outlook reflects the material’s rapid adoption in batteries, aerospace composites, healthcare devices and water solutions. Multi-walled variants remain cost-efficient, so producers are scaling output while pursuing higher purity and uniformity. Asia-Pacific continues to dominate both demand and production capacity, helped by the region’s electric-vehicle and electronics clusters. Consolidation among leading suppliers is gathering pace, illustrated by OCSiAl’s purchase of Zyvex Technologies, which strengthened single-walled carbon nanotube scale and intellectual-property depth.
Key Report Takeaways
- By type, multi-walled carbon nanotubes led with 90% of market share in 2024 and are advancing at a 20.51% CAGR through 2030.
- By manufacturing method, chemical vapor deposition accounted for 70% of the carbon nanotubes market size in 2024 and is growing at 21.77% CAGR.
- By end-use industry, energy applications represented 31% of the carbon nanotubes market size in 2024, while healthcare is expanding fastest at 32.33% CAGR.
- By geography, Asia-Pacific held 54% of the carbon nanotubes market share in 2024 and is recording the highest 21.51% CAGR.
Global Carbon Nanotubes Market Trends and Insights
Drivers Impact Analysis
| Driver | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| E-mobility Boom Accelerating CNT Demand | +5.20% | Global (China, Europe, North America) | Medium term (2-4 years) |
| Leap in High-Energy-Density Li-ion & Supercapacitor Production | +4.80% | Global (North America, Europe early) | Medium term (2-4 years) |
| Aerospace Push for Ultra-light Structural Composites | +3.50% | North America, Europe | Long term (≥4 years) |
| Desalination & Environmental Sensors Adoption in MEA & Asia | +3.20% | Middle East & Africa, Asia-Pacific | Medium term (2-4 years) |
| Additive Manufacturing Integration for Conductive Filaments | +2.90% | Global (North America, Europe) | Short term (≤2 years) |
| Source: Mordor Intelligence | |||
E-mobility boom accelerating CNT demand
Rising electric-vehicle output is lifting graphite anode silicon content, and carbon nanotubes ensure conductivity and mechanical stability at silicon loads near 20%, enabling 300 Wh/kg lithium-ion packs that reduce range anxiety. Automakers also specify nanotube-filled thermal interface pads that dissipate heat generated by power electronics, a need addressed by Dow and Carbice’s 2024 alliance. The same conductivity advantage opens opportunities in busbars and battery-pack shielding. Start-ups producing silicon-CNT composite anodes have attracted venture funding, underscoring commercial confidence. As cell makers localize supply chains, nanotube capacity additions are being colocated near gigafactories, tightening integration between materials and battery production.
High-energy-density storage pushing technical frontiers
Grid storage and aerospace sectors require lighter, safer cells. Lithium-sulfur batteries using carbon-nanotube scaffolds anchor sulfur and suppress polysulfide shuttling, which is central to Lyten’s 200 MWh plant targeted for 2025 ramp-up. Twisted single-walled carbon nanotube ropes store 2.1 MJ/kg as mechanical energy, exceeding lithium-ion energy density while avoiding flammable electrolytes. Supercapacitor makers employ multi-walled electrodes to deliver low equivalent-series resistance, ideal for rapid charge-discharge duty. Together, these advances translate to steady orders for high-conductivity grades and dispersion services.
Aerospace composites raising performance bar
Weight reduction is paramount to fuel burn and payload economics. MIT’s “nanostitch” technique threads carbon nanotubes through layered composites, raising interlaminar toughness by 62% and curbing crack propagation[1]Jennifer Chu, “Nanostitches enable lighter and tougher composite materials,” MIT News, mit.edu. Northrop Grumman is adapting conductive nanotube filaments in 3D-printed satellite brackets to prevent plasma-induced electrostatic discharge. These milestones emphasize a shift from purely mechanical reinforcement to multifunctional structures delivering electrical pathways and radiation mitigation.
Desalination & sensor innovations aiding water-stressed regions
Membrane research groups have shown that aligned single-wall arrays pass water rapidly while rejecting salt ions, promising lower energy desalination. Simultaneously, University of Turku scientists produced nanotube-based optical sensors that detect contaminants at parts-per-trillion levels, a capability attractive to Gulf-state utilities conducting real-time monitoring. The dual utility in treatment and sensing positions carbon nanotubes as a cornerstone of advanced water infrastructure in Asia-Pacific and the Middle East.
Restraints Impact Analysis
| Restraint | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Occupational Toxicology & Nano-regulation in Europe and United States | −3.8% | Europe, North America | Short term (≤2 years) |
| Competition from Graphene & Boron-Nitride Nanotubes in Thermal Apps | −2.5% | Global | Medium term (2-4 years) |
| Patent Thickets Concentrating Licensing Costs | −2.3% | Global (highest in North America, Europe) | Short term (≤2 years) |
| Source: Mordor Intelligence | |||
Occupational toxicology and tightening regulation
European and U.S. agencies are drafting inhalation-exposure limits, citing fiber-like dimensions comparable with asbestos. Academic groups are refining dosimetry to link airborne mass and aspect ratio to pulmonary response[2]National Center for Biotechnology Information, “Carbon Nanotube Dosimetry,” ncbi.nlm.nih.gov . Compliance drives investment in fully enclosed reactors and automated bagging lines, raising capex for newcomers. Companies with documented safe-handling records secure contracts in automotive and aerospace programs where corporate sustainability metrics weigh heavily.
Competition from graphene and boron-nitride nanotubes
Boron-nitride nanotubes exhibit higher polymer interface strength and radiation resistance, appealing to deep-space vehicle designers. Graphene excels at in-plane thermal spreading, challenging carbon nanotubes in smartphone heat spreaders. As customers evaluate application-specific fit, some commodity volumes may shift away from conventional grades, pressuring margins.
Segment Analysis
By Type: multi-walled grades retain scale advantages
Multi-walled carbon nanotubes accounted for 90% of 2024 share, reflecting mature chemical vapor deposition output and price points aligned with bulk additives. The segment is forecast to log a 20.51% CAGR, underpinning more than two-thirds of the carbon nanotubes market size expansion through 2030. Particle engineers are narrowing outer-diameter tolerance and reducing metal catalysts below 100 ppm, meeting electronics and medical-device thresholds. These improvements encourage adoption in conductive pastes, cell-phone speakers and supercapacitor electrodes, reinforcing volume leadership.
Single-walled carbon nanotubes remain under 10% by share yet command premium pricing in quantum and semiconductor niches. Electrostatic catalysis now yields 99.92% semiconducting purity at 0.95 nm diameter, enabling thin-film transistors on flexible substrates. Research on confined carbyne suggests future one-dimensional conductors for photonics. As niche devices commercialize, the carbon nanotubes market will capture incremental high-margin revenue without displacing multi-walled bulk demand.
Note: Segment shares of all individual segments available upon report purchase
By Manufacturing Method: chemical vapor deposition scales efficiently
Chemical vapor deposition delivered 70% of 2024 output and is growing at 21.77% CAGR, the fastest among production routes. Process refinements such as low-temperature plasma assistance lower energy intensity while sustaining yield. Coupled hydrogen-production pilots using methane pyrolysis now coproduce nanotubes and low-carbon H₂, offering dual revenue streams.
HiPco, arc-discharge and laser-ablation methods serve specialty segments that prioritize electronic type control or crystallinity over cost. Academic teams demonstrated catalyst-free synthesis from agricultural residues, hinting at potential circular-economy feedstocks. While these approaches will not challenge CVD’s scale before 2030, they diversify supply options and bolster security for critical applications.
By End-Use Industry: energy dominates while healthcare accelerates
Energy applications held 31% of 2024 revenue, anchored by lithium-ion batteries where nanotubes bridge silicon particle expansion and maintain conductive networks. Supercapacitor demand is rising in regenerative braking and grid-support modules. The carbon nanotubes market size attributable to energy is projected to expand steadily as cell manufacturers sign multiyear offtake deals.
Healthcare accounts for a modest base today yet registers a 32.33% CAGR, the highest among sectors. Functionalized nanotubes deliver drugs across cell membranes and target tumor micro-environments with photodynamic therapy efficacy superior to conventional carriers. Biosensor arrays on flexible substrates detect biomarkers at early stages, supporting preventive medicine. As regulatory pathways clarify, hospital procurement is expected to raise orders for nanotube-enabled imaging agents and orthopedic coatings.
Note: Segment shares of all individual segments available upon report purchase
Geography Analysis
Asia-Pacific held 54% of global demand in 2024, and its 21.51% CAGR will sustain leadership. China’s integrated battery-supply ecosystem catalyzes local nanotube manufacturers that supply gigafactories under long-term contracts. Japanese firms specialize in ultra-clean single-walled grades for displays, leveraging the “super-growth” method’s high aspect ratios and alignment quality. Government incentives across South Korea and India further expand capacity through 2027, widening the regional cost advantage.
North America contributed a significant share to the total revenue. U.S. initiatives, including a USD 50 million Department of Energy grant to Cabot Corporation for Michigan production, shift supply security closer to domestic battery and defense customers[3]Cabot Corporation, “Cabot Corporation Selected for Award Negotiation for $50 Million,” investor.cabot-corp.com . Aerospace composites and high-frequency connectors are key demand pillars, drawing on national labs’ R&D strengths. Canada hosts pilot plants focused on methane-to-hydrogen pyrolysis with nanotube coproducts, linking climate and manufacturing policies.
Europe also contributed a significant share to the overall sales. German and French automakers require stringent material traceability, pushing suppliers to certify cradle-to-gate emissions. British universities spin out ventures targeting semiconductor interconnects, supported by national nanofabrication hubs. At the periphery, Middle East desalination agencies and African telecom tower installers evaluate nanotube-coated membranes and conductive coatings to tackle water and energy challenges, fostering pockets of emerging demand.
Competitive Landscape
Top Companies in Carbon Nanotubes Market
The top five suppliers controlled nearly 48% of global volume in 2024, pointing to a moderately fragmented concentrated structure. OCSiAl dominates single-walled production, operating reactors that deliver uniform tubes at kilogram-scale lots. Its 2024 acquisition of Zyvex Technologies merged dispersion expertise and downstream composite know-how, accelerating automotive and aerospace penetration.
Strategic partnerships are a hallmark of the current phase. Dow and Carbice combine silicone chemistry with nanotube dispersions to formulate next-generation thermal pads for e-mobility inverters. Nanocomp Technologies collaborates with DuPont on aramid-reinforced sheet stock for armor inserts, coupling nanotube fibers with Kevlar matrices. Such alliances pool complementary capabilities and shorten qualification cycles.
Intellectual-property intensity remains a barrier to entry. Foundational patents like US 4663230 on cylindrical carbon fibrils remain active in certain jurisdictions and underpin many license agreements. Venture-funded start-ups therefore accumulate broad patent families early or seek cross-licensing with incumbents. As product portfolios tilt toward application-specific dispersions and masterbatches, proprietary formulation know-how becomes an equally critical differentiator.
Carbon Nanotubes Industry Leaders
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Jiangsu Cnano Technology Co., Ltd.
-
LG Chem
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Nanocyl SA
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OCSiAl
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Resonac Holdings Corporation
- *Disclaimer: Major Players sorted in no particular order
Recent Industry Developments
- September 2024: Cabot Corporation has been selected by the U.S. Department of Energy for a USD 50 million award negotiation to establish the first commercial-scale facility in Wayne County, Michigan, for manufacturing battery-grade carbon nanotubes and conductive additive dispersions.
- March 2023: Cabot Corporation opened a Battery Application Technology Center in Münster, Germany, to drive innovation in battery materials like carbon nanotubes (CNTs) and strengthen partnerships with battery and EV manufacturers.
Research Methodology Framework and Report Scope
Market Definitions and Key Coverage
Our study defines the carbon nanotubes market as the value of first-sale multi-walled and single-walled CNT materials, delivered as dry powders, slurries, or masterbatches, produced through chemical vapor deposition, arc-discharge, HiPco, or laser ablation routes and supplied to composites, energy storage, electronics, and biomedical value chains worldwide.
We explicitly exclude downstream parts, devices, or finished composites that only contain CNTs.
Segmentation Overview
- By Type
- Multi-Walled Carbon Nanotubes (MWCNT)
- Single-Walled Carbon Nanotubes (SWCNT)
- Other Types (Armchair, Zigzag, Double-Walled)
- By Manufacturing Method
- Chemical Vapor Deposition (CVD)
- High-Pressure Carbon Monoxide (HiPco)
- Arc Discharge
- Laser Ablation
- By End-Use Industry
- Electrical and Electronics
- Energy
- Automotive
- Aerospace and Defense
- Healthcare
- Other Industries (Textiles, Construction, Plastics and Composites)
- By Geography
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- Asia-Pacific
Detailed Research Methodology and Data Validation
Primary Research
We validated secondary findings through interviews with CNT producers, cathode material formulators, and polymer compounders across Asia-Pacific, North America, and Europe, followed by targeted buyer surveys that clarified loading rates and price dispersion.
Desk Research
During desk work, we gathered official customs codes (HS-280300 series) for CNT flows, quarterly output statistics from China's MIIT, patent family counts on CVD reactor upgrades via Questel, and trade briefs from the Nanotechnology Industries Association. We also screened Carbon and ACS Nano for fresh average selling price benchmarks and mined company 10-Ks in D&B Hoovers to map capacity additions.
Complementary inputs came from Dow Jones Factiva newsfeeds that captured plant start-ups, regional safety regulations, and governmental R&D grants, allowing us to frame demand ceilings and policy catalysts.
The sources highlighted here are illustrative; many additional public and paid references were tapped for data collection, validation, and clarification.
Market-Sizing & Forecasting
A top-down reconstruction of global output, built from national production and trade data, anchors the 2025 baseline, while selective bottom-up checks such as supplier capacity roll-ups and sampled ASP × volume tests fine-tune totals. Key model variables include regional production capacity, blended ASP, lithium-ion battery cathode penetration, composite resin output, and patent momentum.
Forecasts to 2030 employ multivariate regression layered with scenario analysis; battery adoption trajectories and ASP compression act as primary drivers. Where bottom-up gaps persisted, regional growth proxies were interpolated before reconciling with primary research ranges.
Data Validation & Update Cycle
Results pass variance checks against independent series, anomaly flags, and multi-analyst review; the study refreshes annually, with interim updates triggered by material capacity shifts or regulatory changes, and a final pre-release sweep ensures clients receive the latest view.
Why Mordor's Carbon Nanotubes Baseline Commands Reliability
Published estimates diverge because firms apply unique scopes, currency years, and price sets, and our disciplined boundary setting, yearly refresh, and dual-layer modelling make the numbers we present the dependable starting point.
Key gap drivers include other studies limiting coverage to bulk powder sales, omitting masterbatch value, freezing FX rates to 2024, or relying on unpublished spot quotes, whereas we blend ASPs, cross-check capacity ramps, and adjust for regional premiums.
Benchmark comparison
| Market Size | Anonymized source | Primary gap driver |
|---|---|---|
| USD 6.89 B (2025) | Mordor Intelligence | |
| USD 3.71 B (2024) | Global Consultancy A | Bulk powder only, no masterbatch, older base year |
| USD 1.31 B (2024) | Global Consultancy B | Omits small Asian producers, conservative ASP, fixed 2024 FX |
These comparisons show that Mordor Intelligence's balanced scope and regularly refreshed inputs yield a transparent, repeatable baseline that decision-makers can trust.
Key Questions Answered in the Report
What is the current size of the carbon nanotubes market?
The carbon nanotubes market is valued at USD 6.89 billion in 2025 and is projected to reach USD 17.38 billion by 2030.
Which segment holds the largest carbon nanotubes market share?
Multi-walled grades dominate with 90% share in 2024 due to competitive cost and broad applicability.
What end-use industry is growing fastest?
Healthcare applications are expanding at a 32.33% CAGR as functionalized nanotubes enable advanced drug-delivery and biosensor solutions.
Why is Asia-Pacific leading the carbon nanotubes market?
Asia-Pacific commands 54% of demand because of its large battery, electronics and electric-vehicle manufacturing base and ongoing capacity additions.
How will regulation affect the carbon nanotubes industry?
Upcoming European and U.S. exposure limits are raising compliance costs, favoring producers with robust safety systems and documented toxicology data.
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