The carbon nanotube market is expected to grow at a CAGR of 17.09% between 2023 and 2033.
The Carbon Nanotube (CNT) market is expected to grow from USD 3.95 billion in 2023 to USD 8.70 billion by 2033, at a CAGR of 17.09% . Growing demand from applications, such as advanced materials, electronics & semiconductors, chemical & polymers, batteries & capacitors, energy, aerospace & defense, and medical is expected to fuel the growth of the carbon nanotube market. The intrinsic mechanical properties of CNTs make them a suitable nanomaterial. The CNTs also have a unique combination of stiffness, strength, and tenacity compared to other fiber materials which usually lack one or more of these properties. The growth of the CNT market is affected by the cost structure of CNT, processing difficulties, and availability of substitutes such as silicon carbide nanotubes (SiCNTs).
Among methods, the Chemical Vapor Deposition (CVD) segment is leading the carbon nanotube market and is expected to grow at the highest CAGR.
Among methods, the CVD segment of the carbon nanotube market is expected to grow at the highest CAGR during the forecast period. The CVD method is also the largest method segment of carbon nanotube globally. The prices for CVD are assumed to decrease incrementally with the improving technologies and increased production & commercialization. This decrease in price is expected to keep the CAGR for CVD on a higher side for both volume and value markets.
The electronics & semiconductor application segment of the carbon nanotube market is expected to grow at the highest CAGR during the forecast period.
Among applications, the electronics & semiconductor segment of the carbon nanotube market is expected to grow at the highest rate. The electronics & semiconductors market is further categorized into field emission displays, Integrated Circuits (ICs), super conductors, transistors, and others, which includes electromagnetic shielding ultra-conductors, loudspeakers, light sources, electric motors brushes, and conductive films. In integrated circuits, carbon nanotubes are used as interconnects due to their metallic characteristics. Using carbon nanotubes in the super conductor application helps improve its critical current density in a high magnetic field and longer life cycle.
The Asia Pacific carbon nanotube market is expected to grow at the highest CAGR during the forecast period.
Among regions, Asia Pacific is the fastest-growing carbon nanotubes market. This growth is mainly attributed to the booming economies such as China, India, Taiwan, and a few smaller countries, such as Indonesia, Vietnam, and Malaysia. China is the leader of in terms of carbon nanotubes demand in Asia Pacific. China is a rapidly developing nation with many emerging applications such as hydrogen storage, super conductors, filters, capacitors, and others.
Breakup of primary interviews:
• By Company Type: Tier 1 – 58%, Tier 2 – 33%, and Tier 3 – 9%
• By Designation: C-level – 50%, D-level – 33%, and Others – 17%
• By Region: North America – 33%, Europe – 30%, Asia Pacific – 16%, South America – 14%, and Middle East & Africa – 7%
Arkema S.A. (France), Arry International Group Ltd. (China), Carbon Solutions Inc. (US), Cheap Tubes Inc. (US), CNano Technology Ltd. (US), CNT Company Ltd. (Korea), , Hanwha Chemical Co. Ltd. (Korea), Hyperion Catalysis International Inc. (US), Kumho Petrochemical Company Ltd. (South Korea), Nano-C Inc. (US), Nanocyl S.A. (Belgium), NanoIntegris Inc. (US), NanoLab, Inc. (US), Nanoshell LLC (US), Nanothinx S.A. (Greece), Showa Denko K.K. (Japan), SouthWest NanoTechnologies Inc. (US), Thomas Swan & Co. Ltd. (UK), and Toray Industries, Inc. (Japan) are the key players operating in the carbon nanotube market.
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