Global Multi-Walled Carbon Nanotubes Market Size, Share, and COVID-19 Impact Analysis, By End User (Aerospace, Automotive, Consumer Electronics, Healthcare, and Others), By Application (Electronics, Energy Storage, Composites, Biomedical, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 - 2035

Global Multi-Walled Carbon Nanotubes Market Insights Forecasts to 2035

• The Global Multi-Walled Carbon Nanotubes Market Size Was Estimated at USD 5.45 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 13.85% from 2025 to 2035
• The Worldwide Multi-Walled Carbon Nanotubes Market Size is Expected to Reach USD 22.70 Billion by 2035
• North America is expected to grow the fastest during the forecast period.

According to a research report published by Spherical Insights and Consulting, the global multi-walled carbon nanotubes market size was worth around USD 5.45 billion in 2024 and is predicted to grow to around USD 22.70 billion by 2035 with a compound annual growth rate (CAGR) of 13.85% from 2025 to 2035. The growing need for lightweight, strong, and conductive nanomaterials worldwide, the multi-walled carbon nanotubes (MWCNT) market offers opportunities in the electronics, energy storage, aerospace, and medicinal industries.

Market Overview

The Multi-walled Carbon Nanotubes (MWCNT) Market Size signifies the worldwide network that includes the making, selling, and use of carbon nanotubes with different layers coiled up that are usually dainty 5-50 nm and of several microns long and having very good mechanical strength, electrical conductivity, and thermal stability as their main qualities. These materials have the potential to make major breakthroughs in electronics, automotive composites, aerospace structures, energy storage, and biomedical applications; the production methods such as chemical vapor deposition will make it easier to get large quantities. According to U.S. government launched new initiatives, including EPA’s SNURs for MWCNTs and DOE’s $1.6 million award to SkyNano, supporting sustainable domestic production and regulatory compliance in 2025. The product's remarkable mechanical, electrical, and thermal qualities are driving the multi-walled carbon nanotubes market, which is a quickly expanding sector of the nanotechnology industry. The industry is growing as businesses look for cutting-edge materials for uses such batteries, conductive coatings, sensors, and reinforced polymers. Nanotechnology innovation, growing investment in renewable energy, and the automobile and aerospace industries' growing need for lightweight materials.    

Report Coverage

This research report categorizes the multi-walled carbon nanotubes market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the multi-walled 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 multi-walled carbon nanotubes market.   

Driving Factors  

The sharp increase in product demand from the electronics industry will be a primary factor in the multi-walled carbon nanotubes market's growth. The increasing need for faster, lighter, and more efficient devices has invigorated the innovation race, with the likes of LG Chem and Nanocyl producing MWCNT-based composites for heat dissipation in processors and 5G telecommunication infrastructure. The multi-walled carbon nanotubes market is having a significant increase in demand recognized from the aerospace industry. The market for multi-walled carbon nanotubes will likely grow further owing to the continual progress in the semiconductor and electronic industries.

Restraining Factors

High production costs, complicated manufacturing procedures, strict regulatory requirements, limited large-scale commercialization, and health and environmental concerns related to nanoparticle exposure are some of the restraining factors facing the multi-walled carbon nanotubes market that might restrict its widespread adoption and growth.  

Market Segmentation   

The multi-walled carbon nanotubes market share is classified into end user and application.    

• The aerospace segment accounted for the largest share in 2024, and is anticipated to grow at a significant CAGR during the forecast period.

Based on the end user, the multi-walled carbon nanotubes market is divided into aerospace, automotive, consumer electronics, healthcare, and others. Among these, the aerospace segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period. The growing use of composite materials, which offer better mechanical qualities and corrosion resistance, for aircraft structures, coatings, and thermal management systems is driving the aerospace sector's expansion. Adoption is accelerated by the increasing focus on next-generation aircraft with cutting-edge performance features and strict sustainability regulations.

• The electronics segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the application, the multi-walled carbon nanotubes market is divided into electronics, energy storage, composites, biomedical, and others. Among these, the electronics segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period. Growing demand for electronics and energy storage applications is the main driver of the electronics segment' Growing demand for electronics and energy storage applications is driving the expansion of the electronics segment. MWCNTs' excellent electrical conductivity, mechanical robustness, and thermal stability make them popular in the electronics industry for application in conductive films, transistors, sensors, and flexible displays.   

Regional Segment Analysis of the Multi-Walled Carbon Nanotubes Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the multi-walled carbon nanotubes market over the predicted timeframe. 

Asia Pacific is anticipated to hold the largest share of the multi-walled carbon nanotubes market over the predicted timeframe. The rapid industrial progress and increasing demand for electronics and cars are the main reasons for the market expansion. Among the countries that contribute the most, China, Japan, and South Korea are the key players, with China being the largest through government backing of nanotechnology. Among the government interventions are India's Pradhan Mantri Suryodaya Yojana in January 2024, which aims at adding energy storage solutions through solar installations on 10 million rooftops, and the August 2025 India-Japan Economic Security Cooperation agreement, which is the beginning of a battery supply chain resilience project involving more than 70 companies through joint ventures. China's national nanotechnology blueprint, which allocates significant research and development funds, guarantees its production leadership over other countries, while South Korea and Japan are investing heavily in CNT-enhanced semiconductors and electric vehicles.    

North America is expected to grow at a rapid CAGR in the multi-walled carbon nanotubes market during the forecast period. North America’s growth is driven by robust research and development, technology adoption, and large investments in the areas of aerospace, electronics, and energy storage. Besides, government support in the forms of nanotechnology and sustainable materials interventions also play a big part in the growth. The government measures comprehend the $1.6 billion Phase II Small Business Innovation Research (SBIR) grant provided by the U.S. Department of Energy (DOE) to SkyNano for the large-scale production of electrochemical CNTs from CO2 in July 2025, and then the $1.25 million U.S. Air Force contract awarded in September 2025 to improve carbon nanomaterials synthesis.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the multi-walled carbon nanotubes market, along with a comparative evaluation primarily based on their type of 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

• Arkema
• Bergen Carbon Solutions AS
• Cabot Corporation
• Dycotec Materials Ltd
• Klean Industries Inc.
• Nanocyl SA
• Nanoshell LLC
• OCSiAl
• Sanyo Corporation of America Co., Ltd.
• LG Chem
• Others

Key Target Audience

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

Recent Development

• In January 2025, Nanocyl launched its presence at NanoTech 2025 in Tokyo, showcasing cutting-edge multi-walled carbon nanotube solutions at Booth 4P-22, promoting cost efficiency, energy savings, and productivity improvements across multiple industrial applications. 

Market Segment

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

Global Multi-Walled Carbon Nanotubes Market, By End User

• Aerospace
• Automotive
• Consumer Electronics
• Healthcare
• Others

Global Multi-Walled Carbon Nanotubes Market, By Application

• Electronics
• Energy Storage
• Composites
• Biomedical
• Others

Global Multi-Walled Carbon Nanotubes Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa