Middle East & Africa Carbon Nanotubes Market Size, Share, and COVID-19 Impact Analysis, By Product (Multi-Walled Carbon Nanotubes and Single-Walled Carbon Nanotubes), By Application (Electrical & Electronics, Polymers, Energy and Others), and Middle East & Africa Carbon Nanotubes Market Insights, Industry Trends, Forecast to 2035

Middle East & Africa Carbon Nanotubes Market Insights Forecasts to 2035

• The Middle East & Africa Carbon Nanotubes Market Size Was Estimated at USD 486.3 Million in 2024
• The Market Size is Expected to Grow at a CAGR of Around 15.65% from 2025 to 2035
• The Middle East & Africa Carbon Nanotubes Market Size is Expected to Reach USD 2406.7 Million by 2035

According to a research report published by Spherical Insights & Consulting, The Middle East & Africa Carbon Nanotubes Market Size is Anticipated to reach USD 2406.7 Million by 2035, Growing at a CAGR of 15.65% from 2025 to 2035. The market is driven by its offer of exceptional electrical conductivity, mechanical strength, and lightweight properties, making it ideal for enhancing electronic devices, batteries, and sensors.

Market Overview

The carbon nanotubes market is currently experiencing a dynamic transformation because of new technological developments in nanotechnology and the rising demand for carbon nanotubes in different industries. The sustainability aspect of carbon nanotubes has gained traction because industries need to reduce their environmental footprint. Carbon nanotubes are used in the production of automotive exterior plastic parts to impart conductivity. Automotive fuel lines and connectors use this material for its conductive properties. The current trend shows manufacturing processes are becoming more environmentally friendly while companies search for bio-based manufacturing methods.

Nanoshel LLC functions as a business that specializes in commercializing different types of nanoparticles together with innovative materials. The two countries of Saudi Arabia and the UAE are investing heavily in renewable energy projects because they want to create multiple energy sources. Saudi Arabia plans to increase its renewable energy capacity to 59GW by 2030. The reduction of vehicle weight by 25% leads to annual fuel savings that result in 250 million barrels of crude oil being conserved.

The UAE Carbon Alliance established a non-binding letter of intent with Africa Carbon Market Initiatives to acquire $450 million in premium African carbon credits until 2030. The UAE government is funding the construction of an automotive city in Abu Dhabi through an initial investment of about $435 million. Companies will concentrate on creating production methods that can be expanded and produced at low costs using chemical vapor deposition and laser ablation technologies.

Report Coverage

This research report categorises the Middle East & Africa carbon nanotubes market based on various segments and regions, and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Middle East & Africa carbon nanotubes market. Recent market developments and competitive strategies, such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Middle East & Africa carbon nanotubes market.

Driving Factors

The carbon nanotubes market in Middle East & Africa is driven by the United Arab Emirates automotive sector, which witnesses rising vehicle sales. The industry needs more high-performance conductive materials to meet increasing demand from lithium-ion battery and fuel cell applications. The development of flexible displays, wearable devices and advanced miniaturized semiconductors creates a need for materials that offer both exceptional conductivity and thermal resistance.

Restraining Factors

The carbon nanotubes market in Middle East & Africa is restrained by the manufacturing process for CNTs specifically requires high-purity single-walled carbon nanotubes (SWCNTs), which need expensive catalysts and advanced Chemical Vapor Deposition (CVD) technology that makes them unaffordable to industries that operate with limited budgets.

Market Segmentation

The Middle East & Africa carbon nanotubes market share is categorised into product and application.

• The multi-walled carbon nanotubes segment accounted for the largest share in 2024 and is expected to grow at a significant CAGR during the forecast period. 

The Middle East & Africa carbon nanotubes market is segmented by product into multi-walled carbon nanotubes and single-walled carbon nanotubes. Among these, the multi-walled carbon nanotubes segment accounted for the largest share in 2024 and is expected to grow at a significant CAGR during the forecast period. The multi-walled carbon nanotube (MWCNT) segment dominated the Middle East carbon nanotubes market with the largest revenue share of 93.5% in 2024, driven by its cost-effectiveness, mechanical strength, and suitability for industrial-scale applications. The Middle East market uses it extensively for conductive plastics and coatings and structural composites which are applied in construction and transportation. MWCNTs offer reliable performance in extreme temperatures, making them well-suited to the region’s climate conditions.

• The electrical & electronics segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.  

Based on application, the Middle East & Africa carbon nanotubes market is segmented into electrical & electronics, polymers, energy and others. Among these, the electrical & electronics segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. The electronics and semiconductors sector held the leading position in the Middle East carbon nanotubes market during 2024 because it generated the highest revenue share of 22.5% through its demand for advanced miniaturized electronic components. Scientists use carbon nanotubes as a research material because their unique electrical conductivity properties and nanoscale operational capabilities make them ideal for developing next-generation transistors and sensors.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Middle East & Africa carbon nanotubes market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies                                                                                                                  

• LG Chem
• Arkema
• Cabot Corporation
• Kumho Petrochemical
• Nanoshel LLC
• Klean Industries
• OCSiAl
• Cabot Corporation
• Nanocyl SA
• Resonac Corporation
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at the Middle East & Africa, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the Middle East & Africa carbon nanotubes market based on the below-mentioned segments:

Middle East & Africa Carbon Nanotubes Market, By Product

• Multi-Walled Carbon Nanotubes
• Single-Walled Carbon Nanotubes

Middle East & Africa Carbon Nanotubes Market, By Application

• Electrical & Electronics
• Polymers
• Energy
• Others