Carbon nanotube market seen reaching $103.2 billion by 2030

The global carbon nanotube market is projected to surge from $15.3 billion in 2017 to $103.2 billion by 2030, driven by demand from electronics, energy storage, automotive and renewable energy applications. Allied Market Research says production scale-up and high manufacturing costs remain key restraints even as Asia-Pacific leads growth.

Why it matters: - Carbon nanotubes are moving deeper into industries tied to the energy transition, advanced electronics and high-performance materials. - The market’s expected jump to $103.2 billion by 2030 signals strong commercial demand, but high production costs could slow broader adoption. - Renewable energy investment is becoming a key demand driver for CNTs in batteries, energy storage and other next-generation applications.

What happened: - Allied Market Research said the global carbon nanotubes market was valued at $15.3 billion in 2017 and is projected to reach $103.2 billion by 2030. - The report forecasts a 16.3% CAGR from 2021 to 2030. - Allied Market Research published the report June 10, 2026. - The market is gaining traction across electronics, energy storage, automotive, aerospace and healthcare. - A sample overview is available here.

The details: - CNTs are valued for mechanical strength, electrical conductivity and thermal performance. - Production scale-up remains a challenge for the industry. - High manufacturing costs continue to limit wider CNT adoption. - Competition is also rising from alternative nanomaterials, including inorganic nanotubes and boron nitride nanotubes. - The market opportunity set includes carbon nanotube transistors, biomedical uses, R&D, advanced batteries, flexible electronics and smart materials. - The report segments the market by type into multi-walled carbon nanotubes and single-walled carbon nanotubes. - Multi-walled carbon nanotubes held nearly three-fourths of revenue in 2017. - Single-walled carbon nanotubes are projected to grow fastest, with a 20.9% CAGR, due to superior electrical and mechanical properties. - The report segments production technology into chemical vapor deposition, catalytic chemical vapor deposition and others. - Chemical vapor deposition held the largest share in 2017. - Catalytic chemical vapor deposition is projected to post the highest CAGR at 17.9% through 2030 because of efficiency and scalability. - Asia-Pacific led the market in 2017 with nearly two-fifths of global revenue. - Asia-Pacific is expected to grow fastest at a 17.5% CAGR, supported by industrialization, electronics manufacturing, renewable energy spending and R&D in China, Japan, South Korea and India. - Key companies listed in the report include Cabot Corporation, Arkema SA, CHEAPTUBES, CHASM Advanced Materials Inc., Jiangsu Tiannai Technology Co. Ltd., Hyperion Catalysis International, Kumho Petrochemical, Klean Industries, Nano-C, LG Chem, Nanostructured & Amorphous Materials Inc., Nanocyl SA, OCSiAl, Nopo Nanotechnologies, Raymor Industries, Ossila Ltd., Thomas Swan & Co. Ltd., Showa Denko K.K., Tokyo Chemical Industry Co. Ltd. and Toray Industries. - More data and graphs are available here.

Between the lines: - The forecast suggests CNT demand is broadening beyond specialty materials into mainstream industrial supply chains. - Asia-Pacific’s lead reflects where manufacturing capacity, R&D spending and clean-energy investment are concentrating. - The biggest risk for the market is not demand, but the difficulty of producing CNTs at scale economically.

What’s next: - Manufacturers are expected to push product innovation, strategic partnerships, capacity expansion and R&D to capture demand. - Growth is likely to be strongest in batteries, flexible electronics, smart materials and biomedical applications. - Competitive pressure from alternative nanomaterials will continue as customers weigh performance against cost.

The bottom line: - CNTs are on track for rapid growth, but lower-cost, scalable production will determine how much of that forecast becomes reality.