Top 5 Companies Driving Change in Carbon Nanotube Market in 2025

Carbon nanotubes (CNTs) are cylindrical molecules composed of carbon atoms arranged hexagonally, with exceptional mechanical, electrical, and thermal properties. Since Sumio Iijima discovered CNTs in 1991, they have received much attention for their potential applications in a variety of industries, including electronics, energy storage, medicine, and aerospace.

This blog delves into the fundamentals of carbon nanotubes. It covers the key types and applications of these nanotubes. Also, the top carbon nanotubes market companies making significant efforts to commercialize this advanced technology have been assessed. Read on!

What are Carbon Nanotubes?

Carbon nanotubes are essentially rolled-up sheets of a 2D allotrope of carbon named graphene, a hexagonal lattice of carbon atoms in a single layer. Depending on the style of rolling, CNTs can be classified into two main types. These are:

• Single-Walled Carbon Nanotubes (SWCNTs): SWCNTs consist of a single cylindrical layer of graphene. They exhibit remarkable electrical conductivity and flexibility, making them suitable for electronics and sensors.
• Multi-Walled Carbon Nanotubes (MWCNTs): MWCNTs comprise multiple concentric graphene cylinders. They offer higher mechanical strength and thermal stability, ideal for composite materials and structural applications.

What Are Major Market Metrics?

The carbon nanotubes market is expected to witness sustained growth, according to the latest report by Polaris Market Research. The market for these nanotubes stood at USD 3,245.20 million in 2024. It is anticipated to account for a CAGR of 13.9% from 2025 to 2034.

What Are the Unique Properties of Carbon Nanotubes?

CNTs possess a range of properties that make them superior to conventional materials. These include:

Mechanical Strength: CNTs are 100 times stronger than steel and six times lighter, yielding more efficiency.

Electrical Conductivity: Because of their ballistic electron transport, they conduct electricity more efficiently than copper.

Thermal Conductivity: CNTs are superior heat conductors, outperforming diamonds.

Chemical Stability: They possess great chemical stability as they are able to resist corrosion and chemical attacks.

Flexibility: Despite their strength, carbon nanotubes are extremely elastic and can bend without breaking to a large extent.

What Are the Applications of Carbon Nanotubes?

Electronics: Carbon nanotubes are widely used in transistors, conductive films, and sensors. Their ability to miniaturize components while maintaining efficiency is driving advances in flexible electronics and high-performance computing.

Energy Storage: CNTs improve the performance of batteries and supercapacitors by increasing energy density, charge-discharge rates, and longevity. They are critical to the advancement of next-generation energy storage solutions for electric vehicles and renewable energy systems.

Medicine: In biomedicine, CNTs are being investigated for drug delivery, imaging, and the biosensors market. Their nanoscale size and biocompatibility allow for targeted therapy with minimal side effects.

Aerospace and Automotives: CNTs are ideal for aerospace and automotive components due to their lightweight and high strength, which reduces weight and improves fuel efficiency.

Water Purification: CNT-based membranes are used in nanofiltration membrane systems because they have high permeability and can remove contaminants at the molecular level.

What Are Emerging Market Trends?

Rising Demand for Advanced Materials: The increasing need for lightweight, high-strength, and high-performance materials is driving demand for carbon nanotubes in recent times.

Technological Advancements: Continuous advancements in synthesis techniques and functionalization methods are enabling the development of novel carbon nanotube-based products.

Increasing Application in Various Industries: Carbon nanotubes are finding applications in a wide range of industries, including electronics, energy storage, plant genetic engineering, biomedical, aerospace, and healthcare. These nanotubes are also being used in the high performance composites market.

Government Initiatives and Funding: Governments across the globe are investing in research and development to promote the commercialization of carbon nanotube technologies and are providing different types of funds to encourage new market entrants.

What Are Challenges in Commercializing CNTs?

Despite their promise, CNTs face challenges with scalability and affordability:

Increased Production Costs: Their high cost of synthesis restricts the extensive use of CNTs. This poses a significant challenge for new market entrants.

Purity and Quality Control: One of the most notable technical challenges that remain in the CNTs is ensuring the uniformity and minimization of defects during production.

Health and Safety Concerns: The impact of CNTs on human health and the environment is still under investigation, necessitating stringent safety regulations from different authorities across the globe.

Which Companies Lead the Carbon Nanotubes Market?

Arkema S.A.

With its headquarters located in Colombes, close to Paris, France, Arkema S.A. is a multinational manufacturer of specialty materials that is publicly traded. Arkema, S.A. was established in 2004 as a result of Total, a major French oil company, restructuring its chemicals division. It focuses on multi-walled carbon nanotubes for applications in electronics, energy, and composites. Its Graphistrength brand is widely recognized in the market.

LG Chem

LG Chem Ltd., also known as LG Chemical, is headquartered in Seoul, South Korea. It was initially founded as the cosmetics manufacturing company Lucky Chemical Industrial Corporation. LG Chem is at the forefront of incorporating CNTs into batteries and energy storage devices. Their innovations aim to enhance the performance of lithium-ion batteries, particularly for electric vehicles.

Nanocyl S.A.

Established in Belgium in 2002, Nanocyl SA has been a leader in the production of industrial multiwall carbon nanotubes. Its headquarters are in Sambreville, Belgium. Nanocyl specializes in producing high-quality CNTs for use in automotive, electronics, and industrial applications. Their PLASTICYL range of CNT-enhanced plastics is gaining traction.

Showa Denko K. K.

When Showa Fertilizers and Nihon Electrical Industries merged in 1939, Showa Denko K. K. was created, with its main office located in Tokyo, Japan. The production of carbon nanotubes (CNTs) for semiconductors, sensors, and other high-tech applications was pioneered by this Japanese company. They are well known for using sophisticated synthesis techniques.

OCSiAl

OCSiAl is a multinational nanotechnology company that’s known for being the largest producer of graphene nanotubes worldwide. It was established in Luxembourg in 2010. OCSiAl is renowned for its scalable production methods and its flagship product, TUBALL, which finds application in batteries, composites, and elastomers.

Future Outlook

The carbon nanotubes market has transformed material science with their unique properties and diverse applications. Their potential is vast and transformative, spanning electronics, medicine, and beyond. Companies around the world are investing in CNT research and development, pushing the limits of what is possible with nanotechnology.

As production costs and safety concerns are addressed, CNTs have the potential to become a cornerstone of innovation in the twenty-first century. Carbon nanotubes have a promising future, with the potential to reshape industries and improve people's lives.