The global industrial carbon nanotubes market size was valued at ~ $2.1 billion in 2020. The market forecasts to grow with a CAGR of 16.1% during the forecast period, 2021-2027.

Carbon nanotubes used in the industrial sector are a sub-segment of the CNT technology which is less pure than the product of the other CNT segment. Graphene sheets are used to make CNTs; they are divided into single-walled (SWCNTs) and multi-walled (MWCNTs). MWCNTs also feature double-walled carbon nanotubes. Because of their superior mechanical properties, such as strength and flexibility, they are used for structural polymer composites in automotive parts and aerospace components. Carbon nanotube reinforced fibers have a higher stiffness compared to steel and are resistant to external damages. Conductive polymer composites benefit from CNTs' high electrical conductivity. Electronic packaging, ESD materials, and EMI shielding use them as conductive fillers. Moreover, since CNTs have a high aspect ratio, they provide enough electrical conductivity with a smaller amount of CNTs. CNTs are suitable for various uses including flat panel displays, touch screens, and sensors. In addition, CNTs have a high surface area and high charge carrier capacity. In batteries and capacitors, they are the preferred electrode material. 

Factors Affecting the Global Industrial Carbon Nanotubes Market

• A prominent factor driving the market for industrial carbon nanotubes is the need for lightweight structural composites and additives. 
• Due to CNTs' superior properties and capacity to assist in designing lightweight parts, the aerospace & defense industry is on the rise in demand.
• Increasing manufacturing costs limits investment opportunities, thus making it more difficult to set up a new manufacturing facility for CNTs.
• Nanotechnology's advances in producing CNTs and reinforcing them with diverse reinforcement materials are expected to drive the growth of novel applications during the forecast period. Scientists and carbon nanotube manufacturers are actively exploring ways to incorporate nanoparticles into the sector. Market growth for industrial carbon nanotubes may be facilitated by such activities.

Impact of Covid-19: The Global Industrial Carbon Nanotubes Market

• Globally, Covid-19's negative economic effects and subsequent shrinking of GDP caused by the pandemic have changed consumer spending patterns.
• Labor reductions and production limitations disrupted the global supply chain, creating a shortage of essential automotive components. Additionally, consumer confidence suffered due to uncertainty about the economy during the predicted period, impacting consumer spending.
• CNT demand is expected to decline during the forecast period due to the decline in manufacturing output, shortage of workforce, and raw materials. 
• In economic downturns or high interest rates, new renewable electricity projects, windmills & tidal energy farms, biofuels, and renewable heat projects may remain on hold. 
• Most of the renewable energy sectors in these countries depend greatly on imports from other countries, notably China. This pandemic has primarily affected China, the known source in terms of material supply and material transport. 

Regional Outlook: The Global Industrial Carbon Nanotubes Market

There is a dominant force in the Asian Pacific region. APAC market players such as China, India, and Singapore have reacted to this trend with key strategies to maintain their hold post the end of the global forecast period. As far as North America is concerned, CNT is increasing its use in various sectors, including the electrical, defense, and aerospace industry. Among all North American markets, the U.S. market is the most important contributor to growth.

The reason for the APAC region's dominant position in the Carbon Nanotubes market is the huge demand in fast-growing economies like India, Singapore, Vietnam, South Korea, Taiwan, and developed ones like China. With its large industrial plot, China is already producing carbon nanotubes and is expected to emerge as a world leader in the demand for them. In addition, other global economic leaders count China among the largest users of carbon nanotubes.

Prominent Players in the Global Industrial Carbon Nanotubes Market

The major prominent players in the market are: 

• Nanostructured & Amorphous Materials Inc.
• Cabot Corporation
• CHEAPTUBES
• Hyperion Catalysis International
• Jiangsu Tiannai Technology Co. Ltd.
• Klean Industries
• Arkema SA
• Kumho Petrochemical
•  LG Chem
•  Nano-C, Nanocyl SA
• Raymor Industries
• Showa Denko K.K.
• Nopo Nanotechnologies
• OCSiAl
• Ossila Ltd.
• Thomas Swan and Co. Ltd.
• CHASM Advanced Materials Inc.
• Tokyo Chemical Industry Co. Ltd.
• Toray Industries
• Other Players

Aim of the Report: The Global Industrial Carbon Nanotubes Market

The market segmentation is based on Type, Technology, Application, and Region.

Segmentation based on Type

• Single-Walled Carbon Nanotubes (SWCNTs)
• Multi-Walled Carbon Nanotubes (MWCNTs)

Segmentation based on Technology

• Arc Discharge
• Laser Ablation
• CVD
• Catalytic CVD
• High-Pressure Carbon Monoxide
• CoMoCAT
• Floating Catalyst
• Others 

Segmentation based on Application

• Electronics & Semiconductor   
• Display
• Integrated Circuits
• Transistors
• Industrial Sensors
• Superconductors
• Others
• Energy Storage   
  • Li-ion Battery
  • Lead Acid Battery
  • Fuel Cells
  • Solar PV Cells
  • Hydrogen Storage
  • Electrochemical
• Structural Composites   
  • Aerospace: Airframe, Body Parts, Others
  • Defense: Bulletproof Vests, Combat Jackets, Protection Blankets, and Others   
  • Sporting Goods: Golf Sticks, Tennis Rackets, Helmets, Sports Bicycle, and Others
  • Wind Turbine
  • Automotive
  • Construction
  • Rubber & Tires
  • Others
• Chemical Materials   
  • Coatings, Adhesives, and Sealants
  • Catalyst
  • Water Filtration
  • Polymers
  • Fire Retardants
  • Others
• Medical & Pharmacy   
  • Transdermal Drug Delivery
  • Cancer Treatment
  • Proteomics
  • Others
• Others   

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America