Carbon Nanomaterials Market Will Expand at 27.44% Growth by 2030

Published Date : 16 Jun 2023

The global carbon nanomaterials market size surpassed USD 4.72 billion in 2022 and is expected to hold USD 32.8 billion by 2030, poised to grow at a strong CAGR of 27.44 percent during the projection period from 2022 to 2030.

Carbon Nanomaterials Market Size and Growth Rate From 2022 To 2030

Carbon nanomaterials are used in various applications including energy amassing and change, field outpouring devices, drug transport, composite materials, and sensors, as well as carbon nanomaterials, which find their applications in nanoscale electronic parts.

Growing usages of carbon nanomaterials in the auto business for arranging and gathering vehicle internal parts and exterior because of their optimal mechanical properties and lightweight. These components fuel the overall carbon nanomaterials market advancement. Developing end-client applications, Emerging learning experiences in the Asia Pacific electrical and gadgets industry, and increasing composite applications in energy and other industries are a portion of the reasons liable for the development of the market. Additionally, the developing innovative work spending by the makers to foster high-level carbon nanotubes will open up new open doors in the market during the survey time frame.

Report Highlights:

  • Multi-walled carbon nanotubes type section represented the biggest portion of the carbon nanotubes market in 2022. Rising interest for MWCNT in applications, like clinical and medical care, electrical gadgets, and optical gadgets, is supposed to fuel the development of the market during the figure time frame. The developing gadgets and semiconductor industry is additionally expected to drive the interest for MWCNT.
  • By end-user, electronics, and energy is estimated to be one of the biggest application portions of carbon nanomaterials in 2022 followed by the automobile industry. Developing interest in lightweight materials from auto and flying areas combined with possible applications in clinical gadgets is supposed to propel the market during the forecast period.

Carbon Nanomaterials Market Report Scope:

Report Coverage Details
Market Revenue in 2023 USD 6.01 Billion
Projected Forecast Revenue in 2030 USD 32.8 Billion
Growth Rate from 2022 to 2030 CAGR of 27.44%
Largest Market North America
Base Year 2022
Forecast Period 2022 To 2030
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Regional Snapshot:

The carbon nanomaterials market in APAC is supposed to observe high development on account of the expanded end-use applications, for example, lithium-particle batteries, utilized in cell phones and PCs. The change in the auto business toward perfect and maintainable vehicles has prompted the reception of electric vehicles. These electric vehicles request the utilization of composites and lithium-particle batteries, where nanomaterials track down the application. These variables are supposed to drive the nanomaterials market in APAC during the figure time frame. 

The APAC has been a high-potential nanomaterials market against the background of a general stoppage in the worldwide monetary turn of events. This area envelops an assorted scope of economies with various degrees of monetary turn of events and a wide assortment of businesses including producing, mining, semiconductors, hardware, oil and petroleum gas, material, car, monetary administrations, drugs, renewables, and telecom.

The market development in China is filled with rising interest in new assembling plants for auto, aviation and guard, rail, aviation, wind, and framework improvement, in the country. Japan is the second-biggest nanomaterials market in the APAC locale. At present, eco-accommodating strategies for creation, like synthetic fume statement and reactant substance fume testimony, are famous in Japan.

Market Dynamics:


Emerging interest from the APAC locale

APAC is the quickest-developing business sector for CNT (carbon nanotubes) because of the critical interest in agricultural nations, like China, India, and Taiwan. The rising interest in electronic items is encouraging an exorbitant interest in CNT (carbon nanotubes) in the district. China is the biggest customer in APAC and the second-biggest buyer, all around the world.

The nation is a beneficial market and is seriously fabricating CNT (carbon nanotubes). China assumes an essential part in the development of the APAC CNT (carbon nanotubes) market. The gadgets and semiconductor industry is driving the development of the market in the country. Still up in the air to utilize locally made hardware and semiconductor gadgets, which will drive the interest for CNT (carbon nanotubes) in the business.


Health perils, ecological concerns, and wellbeing issues in the creation and application

The poisonous impacts of CNT (carbon nanotubes) on human wellbeing incorporate an expanded gamble of hypertension, cardiovascular failures, and kidney harm. CNT (carbon nanotubes) are sinewy and may cause medical conditions whenever breathed in.

The business grade of single-walled carbon nanotubes (SWCNT (carbon nanotubes)) contains 60%-70% pollution, by weight, even after the amalgamation interaction. SWCNT (carbon nanotubes) contain a high measure of pollution, like medium and little estimated reactant metal particles and carbonaceous materials. Refinement and functionalization without harm on SWCNT (carbon nanotubes) structure for keeping up with and moving their extraordinary properties are trying for producers of CNT (carbon nanotubes).


expanding valuable open doors in arising applications

CNT (carbon nanotubes) additionally have popularity from arising applications, for example, lithium batteries, synthetic sensors, level board shows, hydrogen capacity, and filaments and composites. The interest for CNT (carbon nanotubes) in arising applications is supposed to build because of diminishing costs and expanding creation limit.

Colleges and organizations are putting resources into R&D to concoct new applications for CNT (carbon nanotubes) materials. The arising utilizations of CNT (carbon nanotubes) likewise incorporate CNT (carbon nanotubes) yarn, microwave radio wires, self-collecting yarns, aviation (radar-retaining skin), clinical inserts, drug conveyance, fuel filler covers, IC plates, transporter tapes, vehicle bodyboards, sports merchandise, coatings, and elastomers.


Maintaining quality and lessening handling cost

The interest in carbon nanomaterials is quickly expanding in various nanocomposite materials to work on the electrical, warm, and mechanical properties of parts, which can be metals, polymers, or pottery. Nonetheless, a few organizations are confronting the test of expanding creation amount by utilizing climate-agreeable innovation, without settling for less on virtue. Manufacturers deal with issues during assembling processes, for example, laser removal and circular segment release technique. The two strategies vanish the carbon source, which isn't eco-accommodating.

Recent Developments:

  • In March 2021, Cabot Corporation declared the sendoff of another item named ENERMAX™ 6 under its carbon fragment. Because of its properties, for example, high viewpoint proportion, it has shown to be the most conductive multi-walled CNT item in the organization's portfolio.
  • In August 2020, ChemSpec North America declared that it went into a non-select dissemination concurrence with Belgium-based Nanocyl SA to advance and convey Nanocyl's different multiwall carbon nanotube ("MWCNT") items.

Major Key Players:

  • Arkema S.A.
  • Cabot Corporation
  • Chasm Advanced Materials Inc.
  • Cheap Tubes
  • Hyperion Catalysis International
  • Jiangsu Tiannai Technology Co. Ltd.
  • Klean Industries Inc.
  • Kumho Petrochemical
  • Lg Chem
  • Nano-C
  • Nanocyl SA

Market Segmentation:

By Type

  • Carbon nanotubes
  • Single-Walled Carbon Nanotubes (SWCNT)
  • Multi-Walled Carbon Nanotubes (MWCNT)
  • Graphene
  • Carbon Nanofibers
  • Fullerenes
  • Others

By Method

  • Arc Discharge
  • Laser Ablation
  • Chemical Vapor Deposition
  • Catalyzed Chemical Vapor Deposition
  • High-Pressure Carbon Monoxide Reaction
  • Liquid Phase Carbon Nanotubes Purification

By Application

  • Paints & Coatings
  • Wings
  • Fuselages
  • Engines
  • Fuel component system
  • Tires
  • Therapeutics
  • Drug Delivery
  • Photovoltaics
  • Li-Ion Batteries
  • Transistors
  • Sensors
  • Tennis Rackets
  • Sports Balls
  • Racing Equipment
  • Others 

By End-Use

  • Electronics & Semiconductors
  • Energy & Storage
  • Chemical Material & Polymers
  • Medical
  • Structural Composites Applications
  • Others

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