Carbon Nanotubes Market Size to Reach a Worth US$ 18.01 Billion by 2031 | Exclusive Report by The Insight Partners

Carbon Nanotubes Market share to Register a CAGR of 13.7% During 2023-2031 Driven by Adoption of Carbon Nanotubes for Cancer Treatment. Key Companies are Nanoshel LLC, NanoLab Inc, Kumho Petrochemical Co Ltd, Klean Industries Inc, LG Chem Ltd, etc.

/EIN News/ -- US & Canada, March 13, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the increasing demand for carbon nanotubes (CNTs) Market for energy storage applications is driving the growth of the global carbon nanotubes market.

The report runs an in-depth analysis of market trends, key players, and future opportunities. The carbon nanotubes market has a rising demand for carbon nanotube-based composites, which is expected to determine market strength in the coming years.

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Overview of Report Findings

Market Growth: The carbon nanotubes market is expected to reach US$ 18.01 billion by 2031 from US$ 6.45 billion in 2024; it is anticipated to register a CAGR of 13.7% during the forecast period. Carbon nanotubes are extremely small cylindrical structures made up of carbon atoms. They are known for their unique properties, such as high tensile strength, good electrical conductivity, and thermal stability. They are of two types, single-walled carbon nanotubes and multi-walled carbon nanotubes, single-walled carbon nanotubes are made up of a single layer of carbon atoms rolled into a tube, while multi-walled carbon nanotubes consist of several concentric tubes.

Increasing Demand for Carbon Nanotubes (CNTs) for Energy Storage Applications: Carbon nanotubes possess electrochemical and mechanical properties such as low density, high strength and rigidity, high heat conductivity, and electrical conductivity. These properties are leveraged for the research and development of energy storage systems. Single and multi-walled CNTs are utilized as conductive additives in Li-ion batteries and to develop battery electrodes useful in enhancing battery performance. The rising demand for energy systems, along with its increasing cost, has influenced government organizations and researchers to develop energy-efficient systems to fulfill global energy targets.

For instance, in 2020, NAWA Technologies developed an ultra-fast carbon electrode based on its patented Vertically-Aligned Carbon Nanotube (VACNT) technology, which is a vertical alignment of 100 billion nanotubes per square centimeter. In 2022, JiangSu Cnano Technology Ltd announced the plan to build battery materials, including conductive paste and carbon nanotubes, for manufacturing plants in China and Germany. The company announced an investment of US$ 180 million for establishing the Zhenjiang plant in China and is projected to manufacture 450 metric tons of single-walled carbon nanotube products per year.

Rising Demand for Carbon Nanotube-Based Composites: Technological advancements and next-generation microscale applications in the electrical & electronics sector require advanced materials such as CNTs. Further, CNT-based composites technology is widely utilized in aerospace, defense, automotive and infrastructure industries. National Aeronautics and Space Administration (NASA) funded a five-year Space Technology Research Institute (STRI) called US-COMP in 2017 for the research and development of CNT-based composites.

Geographical Insights: In 2024, APAC led the market with a substantial revenue share, followed by Europe and North America. Further, Asia Pacific is expected to register the highest CAGR during the forecast period.

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Market Segmentation

• Based on type, the carbon nanotubes market is segmented into multi-walled carbon nanotubes and single-walled carbon nanotubes. The multi-walled carbon nanotubes segment held a significant share of the market in 2024.
• By application, the carbon nanotubes market is segmented into electronics and semiconductors, energy storage, structural composites, aerospace and defense, medical, and others. The electronics and semiconductors segment held the largest share of the market in 2024.
• The carbon nanotubes market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.
  
  

Competitive Strategy and Development

• Key Players: A few major companies operating in the carbon nanotubes market are NanoLab Inc, Nanoshel LLC, Klean Industries Inc, Kumho Petrochemical Co Ltd, Raymor Industries Inc, LG Chem Ltd, Nanocyl SA, Arkema SA, Tokyo Chemical Industry Co Ltd, and Cabot Corp.
• Trending Topics: Energy storage & batteries, electronics & semiconductors, biomedical applications, and composite materials, among others.

Global Headlines on Carbon Nanotubes

• Canatu Oy, a carbon nanomaterial developer based in Vantaa, Finland, has upgraded its carbon nanotube (CNT) film manufacturing to meet the rising demand for ADAS heater products in the automotive industry. Canatu has improved its step-and-repeat (SAR) CNT film production line by adding new reactor capacity and enhancing the automation level.
• LG Chem announced the expansion of its carbon nanotubes (CNTs) investment with the construction of the world’s largest single-line CNT manufacturing plant.
• Mechnano launched a new carbon nanotube-based tough electrostatic dissipative (ESD) 3d printing resin.
• Kanematsu invests in a carbon nanotube manufacturer, Carbon Fly Inc. Kanematsu, alongside F.C.C. Co., Ltd. ("F.C.C."), an automotive parts manufacturer, has acquired shares in CARBON FLY by subscribing to a third-party allocation of new shares.

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Conclusion

The increasing demand for carbon nanotubes (CNTs) for energy storage applications and the adoption of carbon nanotubes for cancer treatment are primary factors propelling the market growth. The recent advancement in drug delivery and cancer treatment involves the utilization of nanocarriers, such as CNTs, solid lipid nanocapsules, magnetic nanoparticles, gold nanoparticles, and liposomes. The optical, electrical, mechanical, and chemical properties of CNTs are employed in drug delivery systems, biomedical imaging, and antimicrobial technology. Therefore, CNT-based anticancer drug delivery technology is gaining popularity due to its selective targeting and controlling of drug delivery. Scientists have developed a novel technology to directly introduce the anticancer drug—doxorubicin—through CNTs from spherical sacs of phospholipid molecules (liposomes) via the cell plasma membrane. A report published by the US Department of Energy in 2022 revealed that CNTs merge liposomes and cancer cells, subsequently initiating the merger of liposomal membranes and cancer cells. This fusion allows the drug to pass freely from the liposome to the cell, resulting in the effective delivery of doxorubicin, killing up to 90% of disordered cells.

The report from The Insight Partners, therefore, provides several stakeholders—including raw material suppliers, manufacturers, distributors, end users, and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

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