The carbon nanotubes market size is projected to reach US$ 18.01 billion by 2031 from US$ 6.45 billion in 2023. The market is expected to register a CAGR of 13.7% during 2023–2031. The incorporation of CNTs in nanocomposite ink for 3D printing can enhance the functionality of advanced printing process and impart electrostatic dissipative properties.
The growing demand for lightweight substitutes of metal with superior thermal, electrochemical, and mechanical characteristics has resulted in burgeoning research directed toward finding composites and composite materials. Technological advancements and next-generation microscale applications in the electrical & electronics sector need efficient and high-functionality 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, which commenced in 2017, for research and development of CNT-based composites. The research is focused on the innovation of lightweight ultra-high strength material for application in exploration vehicles. Moreover, in 2020, Toray Industries Inc developed a wireless communication process with a printed Radio-Frequency Identifier using semi-conductive CNT-based composites, partially supported by Japan’s Ministry of the Environment. The company’s CNT composite semiconductor offers a mobility of 182 cm2/V-s, compared to low-cost integrated circuits and printed semiconductors, which offer a mobility of 20 cm2/V-s.
Carbon nanotubes are extremely small cylindrical structures made of carbon atoms. They are known for their unique properties, including high tensile strength, thermal stability, and good electrical conductivity. Single-walled carbon nanotubes and multi-walled carbon nanotubes are two types of carbon nanotubes. Single-walled carbon nanotubes are made of a single layer of carbon atoms rolled into a tube, whereas multi-walled carbon nanotubes consist of several concentric tubes. Carbon nanotubes are used as reinforcement materials in composite materials, sensing materials in sensors, energy storage in batteries, catalysts in chemical reactions, and for biomedical applications. In the medical industry, it is used for drug delivery, biosensors, imaging, and tissue engineering. In the electronics industry, carbon nanotubes are employed as transistors, interconnects, sensors, displays, energy storage, etc.
Carbon nanotubes are carbon nanostructures with characteristic electrochemical and mechanical properties such as high strength and rigidity, low density, high heat conductivity, and electrical conductivity. The properties of CNTs are leveraged for the research and development of energy storage systems. Single-walled and multi-walled CNTs are utilized as conductive additives in Li-ion batteries and to develop battery electrodes to enhance battery performance. The rising demand for energy systems, along with its increasing cost, has influenced government organizations and researchers to develop efficient energy systems to fulfill global energy targets.
The recent advancements in drug delivery and cancer treatment involve the utilization of nanocarriers such as CNTs, solid lipid nanocapsules, magnetic nanoparticles, gold nanoparticles, and liposomes. The electrical, optical, chemical, and mechanical properties of CNTs are employed in drug delivery systems, biomedical imaging, and antimicrobial technology. Therefore, CNT-based anticancer drug delivery technology is gaining popularity, especially 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, initiating the merger of liposomal membranes and cancer cells. This fusion process allows the drug to pass freely from the liposome to the cell. This results in the effective delivery of doxorubicin, eliminating up to 90% of disordered cells. Thus, the adoption of CNTs in cancer treatment can create lucrative opportunities for the carbon nanotubes market during the forecast period.
Key segments that contributed to the derivation of the carbon nanotubes market analysis are type and application.
The geographic scope of the carbon nanotubes market report is mainly divided into five regions: North America, Asia Pacific, Europe, the Middle East & Africa, and South America/South & Central America.
Asia Pacific dominated the carbon nanotubes market. The Asia Pacific market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Asia Pacific has emerged as a major market for carbon nanotubes due to the growing demand for high-performance materials in various industries such as aerospace, automotive, electronics, and energy. The region has become a major hub for carbon nanotubes production, with several leading manufacturers operating in countries such as China, Japan, and South Korea. Moreover, China is one of the largest markets for carbon nanotubes in Asia Pacific, and the country reports significant investments in research and development and increasing adoption of carbon nanotubes in various applications. Several Chinese companies such as Shenzhen Nanotech Port Co. Ltd., Chengdu Organic Chemicals Co. Ltd., and Suzhou NanoGrid Technology Co. Ltd. are involved in the production and commercialization of carbon nanotubes.
The regional trends and factors influencing the Carbon Nanotubes Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Carbon Nanotubes Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 6.45 Billion |
| Market Size by 2031 | US$ 18.01 Billion |
| Global CAGR (2023 - 2031) | 13.7% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Carbon Nanotubes Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Carbon Nanotubes Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The carbon nanotubes market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders:
The “Carbon Nanotubes Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: