The global carbon nanotubes market size was US$ 17 billion. The global carbon nanotubes market is forecast to grow to US$ 29.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 16.9% during the forecast period from 2022 to 2030.
Carbon nanotubes are made of rolled sheets of graphene, also known as buckytube. These cylindrical-shaped molecules are long and thin, having a diameter of 1-3 nanometers and a length of hundreds to thousands of nanometers. Carbon nanotubes are classified as single-walled (SWNTs) or multi-walled (MWNTs) based on the number of graphic shells. Various techniques are involved in the manufacturing of these tubes, such as filling, doping, functionalization, and chemical modification. Moreover, they possess high electrical conductivity and are considered suitable for use in optics, nanotechnology, electronics, and composite materials.

Factors Influencing the Market
Because of their mechanical and electrical properties, carbon nanotubes are becoming widely popular in the aerospace industry. These tubes are used in the aerospace industry to improve composite functional performance and develop high-performance, lightweight, multifunctional aircraft. Thus, such benefits of carbon nanotubes will fuel the growth of the overall market.
In the coming years, the carbon nanotubes market is expected to benefit from advancements in nanotechnology-related to its manufacturing procedure and support with various materials. Moreover, nanotubes are making significant contributions to technological advancements across various verticals, such as electronics, medicine, engineering, etc., which will drive the market forward. On the contrary, environmental concerns related to the use of carbon nanotubes may limit the growth of the overall market.

COVID-19 Impact Analysis
Due to the COVID-19 pandemic, the demand for carbon nanotubes reduced dramatically. The pandemic has had a negative impact on the global economy, resulting in a decrease in GDP and, ultimately, consumer spending patterns.
The global automotive supply chain was disrupted due to a reduction in workforce and restrictions on manufacturing operations, which reduced the demand for carbon nanotubes. In addition to that, uncertainty related to economic conditions during the forecast period affected consumer confidence, which hampered the travel activities. As a result, the carbon nanotubes witnessed a substantial drop in terms of revenue.

Regional Analysis
The Asia-Pacific carbon nanotubes market is forecast to grow at a substantial growth rate. It is owing to the rapidly growing aerospace and defense industry. Furthermore, the significantly growing automobile and electronics industry in the region will also contribute to the growth of the market. Additionally, technological advancements and innovation will offer ample growth opportunities for the Asia-Pacific carbon nanotubes market during the study period.

Competitors in the Market
Arkema S.A.
Arry International Group LTD.
Carbon Solutions Inc.
Cheap Tubes Inc.
CNT Co., Ltd.
Ocsial Llc
Hanwha Chemical Corp.
Nano-C Inc.
Cnano Technology Ltd
Toray International Group Limited
Showa Denko K.K.
Continental Carbon Company
Other Prominent Players

Market Segmentation
The global carbon nanotubes market segmentation focuses on Type, Method, End-User, and Region.
By Type
Single-walled Carbon Nanotubes
Multi-walled carbon nanotubes
By Method
Chemical Vapor Deposition,
Catalytic Chemical Vapor Deposition,
High-Pressure Carbon Monoxide
By End-user
Electronics & Semiconductors
Chemical
Batteries
Energy
Medical
Aerospace & Defense
Others.
By Region
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America