Multi-Walled Carbon Nanotubes Market Forecast Report - Size & Share 2028

The multi-walled carbon nanotubes market size is expected to grow from US$ 5,252.36 million in 2021 to US$ 10,748.27 million by 2028. It is estimated to rise at a CAGR of 10.8% from 2021 to 2028.

Multi-walled carbon nanotubes (MWCNTs) are a special form of carbon nanotubes, in which multiple single-walled carbon nanotubes are present inside one another. The beneficial properties of MWCNTs have led to high demand for the product in the market.

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Multi-walled Carbon Nanotubes Market: Strategic Insights

Multi-walled Carbon Nanotubes Market

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  CAGR (2021 - 2028)

  10.8%
• Market Size 2021
  US$ 5.25 Billion
• Market Size 2028
  US$ 10.75 Billion

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• Eden Innovations Ltd
• Arkema
• SHOWA DENKO K K
• Hyperion Catalysis International Inc
• Klean Industries Inc
• Kumho Petrochemical Co Ltd
• LG Chem
• Nanocyl SA
• Ossila Ltd

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Application

• Electrically Conductive Polymers
• Structural Composites
• Concrete Additives
• Batteries
• Research & Development

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In 2020, North America dominated the global multi-walled carbon nanotubes market and is expected to retain its dominance during the forecast period. These nanotubes are extensively used in electronics, driving the market in North America. According to the US International Trade Commission, the total exports of electronic products grew by US$ 7.9 billion (3%) to US$ 268 billion in 2017 in the US. Electronic products widely use multi-walled carbon nanotubes for manufacturing chips, batteries, transistors, and more. It is anticipated that the increased demand for electronic products is projected to further drive the market in the years to come. The presence of leading market players in the region is aiding the regional market's growth. For instance, in August 2020, ChemSpec North America announced that it signed a non-exclusive distribution deal with Nanocyl SA of Belgium to promote and distribute Nanocyl's multi-walled carbon nanotube (MWCNT) products.

Market Insights

Expanding Applications of Multi-walled carbon nanotubes

The increased application of multi-walled carbon nanotubes in the aerospace and automotive industry is driving the market growth. Heat dissipation in electronic devices requires interface materials with high thermal conductivity. Therefore carbon-based nanomaterials, such as multi-walled carbon nanotubes, are being designed and are increasingly used to boost the thermal, electrical, and mechanical properties. Multi-walled carbon nanotubes are being extensively used in electronic industries as sensor materials for pressure due to their several characteristics, such as electrical and thermal conductivity, magnetic properties, and mechanical strength.

Application Insights

Based on application, the multi-walled carbon nanotubes market is segmented into electrically conductive polymers, structural composites, concrete additives, batteries, research & development, and others. The batteries segment dominated the market share in 2020. It is expected to be the fastest-growing segment in the market during the forecast period. The electrically conductive polymers segment is the second-largest segment in the multi-walled carbon nanotubes market.

Arkema; Showa Denko KK; Hyperion Catalysis International; Klean Industries; Kumho Petrochemical; LG Chem; Nanocyl SA; Ossila Ltd; Raymor Industries Inc; Tokyo Chemical Industry Co. Ltd.; Ocsial; Eden Innovations Ltd.; and Beyond Pacific Holdings, LLC are the key players operating in the multi-walled carbon nanotubes market. Leading players adopt several strategies, such as mergers & acquisitions and product launches, to expand their geographic presence and consumer base.  

Multi-Walled Carbon Nanotubes Market Report Scope

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Report Spotlights

• Progressive trends in the multi-walled carbon nanotubes industry to help players develop effective long-term strategies
• Business growth strategies adopted by companies to secure growth in developed and developing markets
• Quantitative analysis of the multi-walled carbon nanotubes market from 2019 to 2028
• Porters' analysis to illustrate the efficacy of buyers and suppliers operating in the multi-walled carbon nanotubes industry
• Recent developments to understand the competitive market scenario and the demand for multi-walled carbon nanotubes  
• Market trends and outlook coupled with factors governing the growth of the multi-walled carbon nanotubes market
• Understanding regarding the strategies that underpin commercial interest about the market growth, aiding in the decision-making process
• Multi-walled carbon nanotubes market size at various nodes of market
• Detailed overview and segmentation of the multi-walled carbon nanotubes market as well as its industry dynamics
• Multi-walled carbon nanotubes market size in various regions with promising growth opportunities

The "Global Multi-walled Carbon Nanotubes Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry, focusing on market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The multi-walled carbon nanotubes market is analyzed on the basis of application and geography. Based on application, the market is electrically conductive polymers, structural composites, concrete additives, batteries, research & development, and others. Based on geography, the market is segmented into five main regions North America, Europe, Asia Pacific (APAC), South & Central America (SCAM), and the Middle East & Africa (MEA). North America is expected to be the fastest-growing segment in the multi-walled carbon nanotubes market, followed by Asia Pacific.

The growing presence of global manufacturers and the growing end-use industries, such as automotive and aerospace, are driving the demand for multi-walled carbon nanotubes in North America. The United States has one of the largest automotive markets in the world. In 2018, U.S. light-vehicle sales reached 17.2 million units, the fourth straight year in which sales reached or surpassed 17 million units. The increased production of automobiles in the US is driving the demand for multi-walled carbon nanotubes.

Company Profiles

• Arkema
• Showa Denko KK
• Hyperion Catalysis International
• Klean Industries
• Kumho Petrochemical
• LG Chem
• Nanocyl SA
• Ossila Ltd
• Raymor Industries Inc
• Tokyo Chemical Industry Co. Ltd.
• Ocsial
• Eden Innovations Ltd.
• Beyond Pacific Holdings, LLC