Carbon Nanotube Market Size, Share, Growth Analysis, By Type(Single-Walled Carbon Nanotubes (SWCNT), Multi-Walled Carbon Nanotubes (MWCNT)), By Method(Chemical Vapor Deposition, Catalytic Chemical Vapor Deposition, High-Pressure Carbon Monoxide Reaction, Others), By End-User(Plastics & Composites, Electrical & Electronics, Energy, Others.), By Region - Industry Forecast 2024-2031

Carbon Nanotube Market size was valued at USD 34 billion in 2022 and is poised to grow from USD 38.52 billion in 2023 to USD 97.64 billion by 2031, growing at a CAGR of 13.25% in the forecast period (2024-2031).

In comparison to other traditional materials, carbon nanotubes are employed in applications that demand high strength, electrical conductivity, durability, lightweight characteristics, and thermal conductivity. Integrated circuits, lithium batteries, fuel cells, medicine delivery, solar PV cells, hydrogen storage, and field emission displays all have high demand. They serve as antennas for electromagnetic and radio equipment. Conductive carbon nanotubes are employed in commercial electric motor brushes because they increase thermal and electrical conductivity as they stretch through the brush's plastic matrix. The important factors driving the carbon nanotubes market growth include rising commercialization and ramping up of installed capacities, as well as technological advancements to enhance overall product quality and build more innovative goods.

In order to protect their personnel and keep their production facilities functioning, the majority of manufacturing enterprises have been reported to have faithfully obeyed COVID-19 legislation. As the global economy began to recover from the pandemic's losses and gain traction, the advent of a new, more virulent delta strain greatly increased the amount of uncertainty in trade activities. In the United States, the delta variation is generating a large increase in COVID cases. However, because of widespread vaccination efforts and widespread public awareness, the impact of increasing cases on commerce and industrial activity is expected to be less severe than the first wave.

US Carbon Nanotube Market is poised to grow at a sustainable CAGR for the next forecast year.