multi-walled carbon nanotubes Market

The multi-walled carbon nanotubes market 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.

The extensive use of multi-walled carbon nanotubes in battery manufacturing is attributed to their high electrical conductivity. Additionally, they are also utilized in making conductive latex gloves for applications such as antistatic conveyor rollers, which help dissipate static charge, and for touchscreens

Based on application, the multi-walled carbon nanotubes market is classified into electrically conductive polymers, structural composites, concrete additives, batteries, research & development, and others. In 2020, the batteries segment led the market. It is expected to register the highest CAGR during the forecast period.

The multi-walled carbon nanotubes market is categorized into North America, Europe, Asia Pacific (APAC), South & Central America (SCAM), and the Middle East & Africa (MEA) based on geography. In 2020, North America held the largest market share and was projected to be the fastest-growing region during the forecast period. The adoption of multi-walled carbon nanotubes has increased significantly in the aviation industry due to their widespread use in enhancing mechanical, electrical, and thermal properties. According to The International Trade Administration (ITA), the US has the largest aerospace industry globally. It provides a highly educated and skilled workforce, extensive distribution systems, varied offerings, and robust local and national support for policy and promotion. The growth of the North American aerospace industry is a significant driver of this market.

The COVID-19 pandemic presented unprecedented challenges to several industries, including the chemicals and materials industry. The multi-walled carbon nanotubes market was substantially affected by raw material and labor shortages, factory shutdowns, and operational difficulties due to COVID-19 safety protocols. The market's growth was constrained as lockdown restrictions heavily impacted the supply and production of these nanotubes. Additionally, these restrictions led to the closure of various end-user industries, such as electronics and automotive, resulting in a decline in the demand for MWCNTs and negatively impacting the market. However, the successful implementation of vaccination drives has eased the situation by empowering restoration efforts by people and enterprises.

The global demand for multi-walled carbon nanotubes is expected to increase as economies resume their operations. Key manufacturers have already resumed their operations, and the relaxation of border and trade restrictions is expected to significantly increase the import and export volumes in the chemicals and materials industry.

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 leading players in the multi-walled carbon nanotubes market. These companies are adopting various strategies, such as mergers & acquisitions and product launches, expanding their geographic presence and consumer bases.

The overall multi-walled carbon nanotubes market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants include industry experts, such as VPs, business development managers, market intelligence managers, national sales managers, external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the multi-walled carbon nanotubes market.