Multi-wall carbon nanotube market is anticipated to grow at a considerable CAGR of 12.2% during the forecast period. Multi-walled carbon nanotubes (MWCNTs) are a composite structure of concentrically layered carbon nanotubes nested in each other. They are made up of two or more nested single-wall carbon nanotubes. MWCNTs are used in a variety of energy applications, such as batteries, solar cells, and fuel cells. MWCNTs can be used to develop more efficient and durable energy storage and conversion devices. The growing demand for renewable energy and the need to reduce carbon emissions are driving the demand for MWCNTs in the energy sector. MWCNTs are used in batteries to improve their energy density, power density, and lifespan. MWCNTs can be used as anodes, cathodes, or current collectors in batteries. MWCNTs can be used to create lithium-ion batteries with higher energy densities and power densities than traditional lithium-ion batteries. This is because MWCNTs have a high surface area and can store more lithium ions than traditional electrode materials. MWCNTs can also be used to create sodium-ion batteries, which are a less expensive and more abundant alternative to lithium-ion batteries. MWCNT-based sodium-ion batteries have a longer lifespan than traditional sodium-ion batteries. 

MWCNTs are used in solar cells to improve their efficiency and durability. MWCNTs can be used to create transparent electrodes, which are a key component of solar cells. MWCNTs can be used to create transparent electrodes for perovskite solar cells. Perovskite solar cells are a new type of solar cell that has the potential to be more efficient and less expensive than traditional solar cells. MWCNT-based transparent electrodes are more durable and less expensive than traditional transparent electrodes.

Segmental Outlook

The global multi-wall carbon nanotube market is segmented based on application. Based on Application the market is sub-segmented into electronics, energy, materials, and others (medical devices, water purification systems).

The Electronic Sub-Segment Holds the Major Market Share in the Global Market

The electronics segment has the highest market share in the multi-walled carbon nanotube (MWCNT) market because MWCNTs are used in a wide variety of electronic devices, such as smartphones, tablets, laptops, and televisions. MWCNTs are stronger and lighter than traditional materials used to make transistors and capacitors, such as silicon. This makes it possible to create smaller and lighter electronic devices. For example, MWCNTs are used to create the transistors that are used in the processors of smartphones and tablets. This makes smartphones and tablets smaller and lighter than they would be if traditional silicon transistors were used.

Regional outlooks

The global multi-wall carbon nanotube market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). Among these, Asia-Pacific contributes a major share of the whole market. The growth of the MWCNT market in the Asia Pacific region is being driven by the increasing demand for MWCNTs in the electronics, energy, and materials sectors.

Global Multi-Wall Carbon Nanotube Market Growth by Region 2023-2030

North America is Expected to Grow at a Significant CAGR in the Global Multi-Wall Carbon Nanotube Market

North America is expected to grow the second fastest in the multi-walled carbon nanotube (MWCNT) market, after Asia Pacific. The growth of the MWCNT market in North America is being driven by several factors. North America is a major producer of electronic devices, such as smartphones, tablets, and laptops. MWCNTs are used in a variety of electronic components, such as transistors, capacitors, and batteries. The increasing demand for electronic devices in North America is driving the demand for MWCNTs in the region. Companies in North America are becoming increasingly aware of the benefits of using MWCNTs in their products. MWCNTs can be used to create stronger, lighter, and more durable products. They can also be used to develop new and innovative products. This growing awareness of the benefits of MWCNTs is driving the demand for MWCNTs in North America.

Market Players Outlook

The major companies serving the global Multi-Wall Carbon Nanotube market include Arkema Grp., Hanwha Corp., Hyperion Catalysis International, Inc., Nanocyl S.A., and Resonac Holdings Corp. (Showa DENKO K.K.). The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in 2022, Cabot Corporation acquired Asbury Graphite Mills, a manufacturer of graphite and carbon nanotube products. This acquisition will help Cabot expand its portfolio of carbon nanomaterials and meet the growing demand for MWCNTs in the electronics and energy sectors.

 The Report Covers

• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global multi-wall carbon nanotube market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.