Carbon Nanomaterials Market Size, Share, and Trends 2024 to 2034

The global carbon nanomaterials market size was estimated at USD 3.6 billion in 2022 and is expected to hit around USD 40.71 billion by 2032 with a notable CAGR of 27.5% during the forecast period 2023 to 2032.

Key Takeaways

• By type, the fullerenes segment has contributed 94% of revenue share in 2022.
• By type, the carbon nanotube (CNT) segment is predicted to grow at a remarkable CAGR of 16.6% from 2023-2032.
• By end user, the medical and healthcare segment is growing at a CAGR of 17.2% from 2023 to 2032.
• Asia-Pacific region was valued at USD 1.51 billion in 2022.
• Asia Pacific has contributed a revenue share of 38% in 2022.

Growth Factors

Expanding utilization of carbon nanomaterials in the auto business for planning and assembling vehicle insides and outsides on account of their ideal mechanical properties and lightweight. The item is broadly used in vehicles to lessen the aluminum motor weight, for better grasp and low moving obstruction, and in lithium-particle batteries to diminish the charge time, help the elasticity, and decrease the heaviness of autos. These elements fuel the worldwide carbon nanomaterials market development.

Carbon nanomaterials are generally utilized in medication and drugs for the delicate location of key organic atoms, more exact and more secure imaging of infected tissues, and novel type of therapeutics on account of their electrical, optical, mechanical, and substance properties. Some carbon nanomaterials-based restorative and indicative specialists have produced for the therapy of asthma, torment, sensitivity, disease, diabetes, and contaminations, these variables are supposed to move the market development during the estimated time frame.

Multi-walled carbon nanomaterials are generally used given the simplicity of incorporating when contrasted and different sorts of carbon nanomaterials thanks to their properties like distance across length proportion, high strength, and so on. The straightforward expansion of carbon nanomaterials delivers no ideal results in the elastic combination. In addition, the use of carbon dark as fillers has worked on innovative, mechanical, and gas obstruction properties. 

The worldwide carbon nanomaterials market is supposed to observe huge development over the figure period attributable to its wide application in various end-use ventures including medical services, auto, development, and bundling. The carbon nanomaterials market is expected to be driven by its possible applications in gadgets and energy stockpiling gadgets because of its excellent electrical conductivity. Becoming stronger and tough primary materials combined with arising application extent of carbon nanomaterials in the airplane, nanomedicines, shopper products, and water treatment industry is additionally expected to fuel market interest. 

Carbon Nanomaterials Market Scope

Type Insights

Multi-walled carbon nanotubes type segment addressed the greatest part of the carbon nanotubes market in 2022. Rising revenue for MWCNT in applications, such as clinical and clinical consideration, electrical contraptions, and optical devices, should fuel the advancement of the market during the figure time.

The creation of contraptions and the semiconductor industry is moreover expected to drive the interest for MWCNT. MWCNT has great electrical conductivity and is utilized in conductive straightforward cathodes, conductive warming movies, conductive nano inks, nanodevices, shows, compound sensors, super batteries, supercapacitors energy stockpiles, sunlight-based power cells, warm point of interaction material, and different applications.

End-User Insights

Clinical is projected to observe the quickest development of the carbon nanotubes market during the figure time frame, with regards to volume. Transdermal drug delivery is one of the greatest markets for CNTs in the clinical industry. Multi-walled and twofold-walled CNTs have drug transporter properties through skin and infiltration improvement impacts. drug delivery is one of the most appealing application regions for nanotechnology. Carbon nanotubes can be utilized in drug transporter framework and proposition a high stacking and upgraded transdermal infiltration for hydrophobic medications.

Carbon nanotubes assist with working on the remedial atoms in pharmacological profiles. They are likewise utilized as a device for shipping and moving remedial atoms. There is a massive necessity for ideal medication conveyance innovation. An altogether huge piece of the medication particles ingested into the body through the customary conveyance of medications doesn't follow up on the ideal organic frameworks, which prompts diminished proficiency and incidental effects.

The electronics fragment drove the market and is supposed to enroll a CAGR during the forecast period thanks to its wide applications in electronic businesses as sensor materials for strain because of its properties including electrical and warm conductivity, attractive properties, and mechanical strength. The electrical and attractive properties of nanomaterials work on the electrical conductivity in pottery and build the electric obstruction in nano metals consequently making it novel and broadly used in electronic materials like optoelectronics, superconductivity, sensor manufacture, electromagnetic impedance protecting, and memory chips, as most would consider being normal to drive the carbon nanomaterials market interest during the conjecture time frame.

Carbon Nanomaterials Market Share, By Region, 2022 (%)

Why Asia Pacific region has dominated the carbon nanomaterials market?

• The carbon nanomaterials market in APAC should notice high advancement because of the extended end-use applications, for instance, lithium-molecule batteries, used in phones and PCs. The adjustment of the auto business toward great and viable vehicles has incited the gathering of electric vehicles. These electric vehicles demand the usage of composites and lithium-molecule batteries, where nanomaterials track down the application. These factors should drive the nanomaterials market in APAC during the figure time. 
• APAC has been a high-potential nanomaterials market against the foundation of an overall stoppage in the overall financial development. This region encompasses a varying extent of economies with different levels of money-related new development and a wide collection of organizations including creating, mining, semiconductors, equipment, oil and petrol gas, material, vehicle, financial organizations, drugs, renewables, and telecom.
• The market advancement in China is filled by rising interests in new collecting plants for auto, flight and gatekeeper, rail, avionics, wind, and system improvement, the country. Japan is the second-greatest nanomaterials market in the APAC region. As of now, eco-obliging methodologies for creation, similar to manufactured rage explanation and reactant substance seethe declaration, are renowned in Japan. 
• Progression in science and innovation combined with developing interest from various end-use enterprises in the locale has driven organizations to increase R&D in carbon nanomaterials which thus is probably going to emphatically affect the carbon nanomaterials market.

Key Market Developments

• In March 2021, Cabot Corporation reported the send-off of another item named ENERMAX™ 6 under its carbon section. Because of its properties, for example, high viewpoint proportion, it has been demonstrated to be the most conductive multi-walled CNT item in the organization's portfolio. This item series is supposed to improve battery execution at lower loadings, empowering a higher energy thickness of batteries successfully.
• In August 2020, ChemSpec North America reported that it went into a non-selective appropriation concurrence with Belgium-based Nanocyl SA to advance and convey Nanocyl's different multiwall carbon nanotube ("MWCNT") items. ChemSpec will approach both the US and the Canadian modern assembling markets. ChemSpec will zero in its endeavors on developing MWCNT items in thermoplastic and elastomer compounding.

Carbon Nanomaterials Market Companies

The key market players have continually participated in different formative techniques like organization, joint efforts, new item dispatches, and acquisitions to reinforce their market position and gain a portion of the overall industry.

• 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

Segments Covered in the Report

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

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)