Multi-walled Carbon Nanotubes Market Growth and Forecast by 2028

Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028

Multi-walled Carbon Nanotubes Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Electrically Conductive Polymers, Structural Composites, Concrete Additives, Batteries, Research & Development, and Others)

Report Date : Mar 2022
Report Code : TIPRE00027438

Category : Chemicals and Materials
Status : Published

Available Report Formats :
No. of Pages : 151

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

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

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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

Multi-walled Carbon Nanotubes Market Regional Insights

The regional trends and factors influencing the Multi-walled Carbon Nanotubes Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Multi-walled Carbon Nanotubes Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

multi-walled-carbon-nanotubes-market-global-geography

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Multi-walled Carbon Nanotubes Market Report Scope

Report Attribute	Details
Market size in 2021	US$ 5.25 Billion
Market Size by 2028	US$ 10.75 Billion
Global CAGR (2021 - 2028)	10.8%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Application Electrically Conductive Polymers Structural Composites Concrete Additives Batteries Research & Development
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	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.

Multi-walled Carbon Nanotubes Market Players Density: Understanding Its Impact on Business Dynamics

The Multi-walled Carbon Nanotubes Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Multi-walled Carbon Nanotubes Market are:

Eden Innovations Ltd.
Arkema
SHOWA DENKO K.K.
Hyperion Catalysis International Inc.
Klean Industries Inc.

Disclaimer: The companies listed above are not ranked in any particular order.

multi-walled-carbon-nanotubes-market-cagr

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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

Frequently Asked Questions

Can you list some of the major players operating in the Global MWCNTs Market?

The major players operating in the global MWCNTs market are 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. among many others.

What is the scope of MWCNTs in the global market?

Multi-walled carbon nanotubes are widely used in medicine and pharmaceutical industry for sensitive detection of essential biological components, precise and safer imaging of unhealthy tissues, and innovative treatments because of their mechanical, optical, electrical, and chemical properties. MWCNTs have outstanding electrical and mechanical properties, making them suitable for electronic applications. Thus, the growing demand for MWCNT from the healthcare and electronics sector is projected to offer lucrative opportunities for multiwalled carbon nanotubes in global market.

Based on application, why is the batteries segment expected to grow at the highest rate during the forecast period?

Silicon anodes for Li-ion batteries can be reinforced with MWCNTs to reduce their resistance, making them resilient to cracking and its effects during hundreds and thousands of charge/discharge cycles.

What is the scope of the structural composites segment in the global MWCNTs market?

Multi-walled carbon nanotubes have been used and studied extensively as polymer additives to increase mechanical characteristics and features, fire retardancy, electromagnetic shielding, and thermal conductivity. Polymer composite producers buy the bulk of commercially generated MWCNTs, which are utilized in end-user products, including golf clubs, boat hulls, and structural plastics.

What are the key drivers for the growth of the global MWCNTs market?

Multiwalled carbon nanotubes have high electrical conductivity and are used in conductive nano inks, battery cathodes, enhanced structural composites, thermal interface materials, and other applications. Thus, the expanding applications of MWCNTs boost the market growth. Moreover, li-ion batteries help reduce recharging time, boost tensile strength, and reduce vehicle weight. These benefits increase the applications of MWCNTs in the automobile industry, thereby driving market growth.

Which is the largest region for the global MWCNTs market demand?

North America accounted for the largest share of the global MWCNTs market due to a wide range of commercialized applications for CNT, coupled with rising R&D activities to find new applications. The presence of leading companies in the region is aiding the market in North America.

Research Manager

Habi Ummer

Manager,
Market Research & Consulting

Habi is a seasoned Market Research Analyst with 8 years of experience specializing in the Chemicals and Materials sector, with additional expertise in the Food & Beverages and Consumer Goods industries. He is a Chemical Engineer from Vishwakarma Institute of Technology (VIT) and has developed deep domain knowledge across industrial and specialty chemicals, paints and coatings, paper and packaging, lubricants, and consumer products. Habi’s core competencies include market sizing and forecasting, competitive benchmarking, trend analysis, client engagement, report writing, and team coordination—making him adept at delivering actionable insights and supporting strategic decision-making.

What are the Multi-walled Carbon Nanotubes Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

Multi-walled Carbon Nanotubes Market Report Snapshots

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