Carbon nanotubes, also known as buckytubes, are one-dimensional quantum materials with a special structure, consisting of hollow tubes rolled up from single or multiple layers of graphene.

Overview of Market Development

In recent years, the global carbon nanotube market has shown strong growth momentum, and the market size continues to expand. According to our research data, the estimated global carbon nanotube market size in 2024 is $7.82 billion, an increase of 16.97% compared to 2023. This growth is mainly due to the widespread application of carbon nanotubes in fields such as electronics, energy, and chemical engineering, as well as continuous technological innovation and industrial upgrading. It is expected that the carbon nanotube market will maintain high-speed growth in the coming years, and its market size is expected to increase to $17.83 billion by 2029. The CAGR for 2024-2029 is estimated to be 17.91%.

Segmented Market Analysis

From the perspective of product types, carbon nanotubes can be divided into single-walled carbon nanotubes and multi walled carbon nanotubes based on the number of layers on the tube wall. Single walled carbon nanotubes are composed of a layer of graphene sheets, with diameters and lengths of 0.75-3nm and 1-50um, respectively.; Multi walled carbon nanotubes contain multiple layers of graphene sheets, similar in shape to coaxial cables. The number of layers ranges from 2-50, with a layer spacing of about 0.34nm, which is equivalent to the spacing between graphite layers. The diameter and length are 2-30nm and 0.1-50um, respectively. Research shows that multi-walled carbon nanotubes dominate the market, with an expected market share of up to 98.54% by 2024.

From the perspective of downstream application patterns, carbon nanotubes are widely used in various fields such as automotive, aerospace & defense, energy, sporting goods, and electricals and electronics. Among them, the automotive industry is the largest downstream application market, with an estimated application share of 23.72% in 2024.

Source: www.globalmarketmonitor.com

Analysis of Market Competition Pattern

From the perspective of market competition, the concentration of the global carbon nanotube market is moderate. The data shows that the total revenue of the carbon nanotube market for the top 3 companies was $3012 million in 2023, with a total revenue share of 45.03%. The top three companies were Arkema SA, Hanwha Chemical Corp., and Hyperion Catalysis International Inc. In 2023, these three companies accounted for 23.70%, 17.24%, and 4.09% of the global carbon nanotube market revenue, respectively.

Companies	Market Revenue (Million USD)	Market Share
Arkema SA	1585	23.70%
Hanwha Chemical Corp.	1153	17.24%
Hyperion Catalysis International Inc.	274	4.09%
Top3 Companies	3012	45.03%