What Transformation Has the Carbon Nanomaterials Market Undergone?
The carbon nanomaterials market has seen considerable growth due to a variety of factors.
•The market size for carbon nanomaterials has experienced swift expansion in the past few years. Anticipated to increase from $6.99 billion in 2024 to $8.93 billion in 2025, the market is expected to witness a compound annual growth rate (CAGR) of 27.7%.
The surge in growth during this historic period is due to factors such as increased demand in the electronics industry, heightened environmental concerns, demand from the automotive sector, adoption in the healthcare sector, and a decrease in production costs.
How Will The Carbon Nanomaterials Market Size Evolve In The Foreseeable Future?
The carbon nanomaterials market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated growth in the carbon nanomaterials market size is predicted to be substantial in the coming years. A projected increase to $24.99 billion by 2029, with a compound annual growth rate (CAGR) of 29.3%,
is expected. The predicted expansion during this period is tied to advancements in nanosensors, applications in construction materials, integration within electronics, an increase in nanomedicine research, along with a focus on environmentally friendly materials. Key trends during the forecasted period encompass focusing on functionalization, improved energy storage solutions, the use of nanomaterials in construction, research emphasis on nanotoxicology, along with the inclusion in industrial automation and robotics.
Which Drivers Are Accelerating Growth In The Carbon Nanomaterials Market?
The carbon nanomaterials market is expected to flourish, driven by the rising demand for electric vehicles. These types of vehicles utilize one or more electric motors that require electricity from an external source. Carbon nanomaterials, including graphene and carbon nanotubes, enhance the functioning of lithium-ion batteries, the primary energy storage units in electric cars. Furthermore, carbon compounds are used in lithium batteries to boost the electrical conductivity of the positive and negative electrodes without obstructing the electrochemical redox reaction that generates energy in the electrochemical cell. For example, as reported by the Department of Infrastructure, Transport, Regional Development, Communications, and the Arts in February 2024, there were 20.7 million registered motor vehicles as of January 31, 2022, indicating a 2% increase from January 2021. Battery electric vehicles (BEVs) accounted for approximately 40,000, a 100% surge from 2021, with about 34,200 being passenger vehicles in 2022, a rise of 118% from 2021. Hence, the escalating demand for electric vehicles is fueling the growth of the carbon nanomaterials market.
What Are The Core Segments Of The Global Carbon Nanomaterials Market?
The carbon nanomaterials market covered in this report is segmented –
1) By Type: Carbon Nanofibers, Carbon Nanotube, Fullerenes, Graphene, Carbon-Based Quantum Dots, Other Types
2) By Method: Arc Discharge, Laser Ablation, Chemical Vapor Deposition, Catalyzed Chemical Vapor Deposition, High-Pressure Carbon Monoxide Reaction, Liquid Phase Carbon Nanotubes Purification
3) By End User: Building And Construction, Electrical And Electronics, Medical And Healthcare, Automotive, Aerospace, Sports And Leisure, Other End Users
Subsegments:
1) By Carbon Nanofibers: Continuous Carbon Nanofibers, Discontinuous Carbon Nanofibers
2) By Carbon Nanotubes: Single-Walled Carbon Nanotubes (SWCNT), Multi-Walled Carbon Nanotubes (MWCNT)
3) By Fullerenes: C60, C70, Other Fullerenes
4) By Graphene: Graphene Oxide, Reduced Graphene Oxide, Graphene Nanoplatelets
5) By Carbon-Based Quantum Dots: Graphene Quantum Dots, Carbon Dots
6) By Other Types: Carbon Nanocomposites, Carbon Nanostructures
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Which Emerging Trends Are Reshaping The Carbon Nanomaterials Market Size?
The carbon nanomaterials market is increasingly being influenced by technological advancements. To maintain their market standing, the companies in this field are implementing new technologies. For example, OCSiAl, a Nanotechnology company out of Luxembourg, in September 2024, initiated a new carbon nanotube manufacturing facility in Serbia. This initiative noticeably strengthened its partnership with ProLogium to back their gigafactory project based in Dunkirk, France. The newly established facility, which showcases an annual production capability of 3,000 metric tons of single-walled carbon nanotube dispersion, is designed to augment the European supply system for high-performance batteries. This collaboration permits ProLogium to incorporate OCSiAl's nanotubes into their high-end lithium ceramic batteries, thus improving their energy density and conductivity whilst adhering to rigorous safety standards. ProLogium's gigafactory, anticipated to commence mass production by early 2027, solidifies the dedication of both corporations to innovation and ecological sustainability in the electrical vehicle marketplace.
Who Are the Key Players in the Carbon Nanomaterials Market?
Major companies operating in the carbon nanomaterials market include:
• Hanwha Corporation
• LG Chem Ltd.
• Northrop Grumman Corporation
• Sumitomo Electric Industries Ltd.
• Arkema S.A.
• Cabot Corporation
• Kumho Petrochemical Co Ltd
• Sigma-Aldrich
• JiangSu Cnano Technology Co. Ltd.
• OCSiAl USA
• Thomas Swan & Company Ltd.
• Nano-C Inc.
• DexMat Inc.
• Nantero Inc.
• C12 Quantum Electronics
• Hyperion Catalysis International
• NaWaTechnologies SA
• Klean Industries Inc.
• Surrey NanoSystems Ltd.
• Nanocyl S.A.
• Adnano Technologies Private Limited
• Raymor Industries Inc.
• Chasm Advanced Materials Inc.
• Nano Labs Ltd.
• Showa Denko K. K.
• Chengdu Organic Chemicals Co. Ltd.
• Sun-Nanotech Co Ltd.
• NoPo Nanotechnologies Private Limited
What are the Regional Insights into the Carbon Nanomaterials Market?
Asia-Pacific was the largest region in the carbon nanomaterials market in 2024. The regions covered in the carbon nanomaterials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
