Multi-walled Carbon Nanotubes Market Segmentation, Future Trends, Growth Overview, Key Companies and Forecast by 2028

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 high electrical conductivity of multi-walled carbon nanotubes has resulted in wide applications of multi-walled carbon nanotubes to manufacture batteries. Multi-walled carbon nanotubes include conductive latex gloves for antistatic conveyor rollers that can dissipate the static charge or for touchscreen use.

Based on application, the multi-walled carbon nanotubes market is segmented 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.

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The List of Companies
1. Eden Innovations Ltd.
2. Arkema
3. SHOWA DENKO K.K.
4. Hyperion Catalysis International Inc.
5. Klean Industries Inc.
6. Kumho Petrochemical Co., Ltd.
7. LG Chem
8. Nanocyl SA
9. Ossila Ltd.
10. Raymor Industries Inc.

Based on geography, the multi-walled carbon nanotubes market is segmented into North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA). In 2020, North America dominated the market. It is also expected to be the fastest-growing region in the market during the forecast period. The adoption of multi-walled carbon nanotubes is surging in the aviation industry as they are being extensively used to increase and improve mechanical, electrical, and thermal properties. According to The International Trade Administration (ITA), the US aerospace industry is the largest in the world. It offers a skilled and educated workforce, extensive distribution systems, diverse offerings, and strong support at the local and national level for policy and promotion. The expansion in the North America aerospace industry is another factor driving this regional market.

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Many industries, such as the chemicals and materials industry, faced unprecedented challenges due to the COVID-19 pandemic. The shortage of raw material and labor, the shutdown of factories, and other operational difficulties under COVID-19 safety protocols adversely affected the multi-walled carbon nanotubes market substantially. Lockdown restrictions heavily impacted the supply and production of these nanotubes, thus restraining the market's growth. These restrictions also led to the shutdown of various end-user industries, such as electronics, automotive, and others, resulting in a decline in the demand for MWCNTs, negatively impacting the market. However, the successful implementation of vaccination drives eased the impeding scenario by empowering the restoration efforts of people and enterprises.

The economies are reviving their operations, and the demand for multi-walled carbon nanotubes is expected to rise globally in the coming years. Key manufacturers have started resuming their operations. Moreover, the export and import volumes in the chemicals and materials industry are projected to increase significantly due to the relaxation of border and trade restrictions.

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