Carbon Nanomaterials Global Market Report 2024

Carbon nanomaterials constitute a diverse family of carbon allotropes, encompassing carbon fullerenes and quantum dots in the zero-dimensional space, carbon nanotubes (CNTs) in the one-dimensional space, graphene in the two-dimensional space, and nanodiamonds and nanohorns in the three-dimensional space. These materials find applications across various industries due to their unique physical and chemical properties.

The primary types of carbon nanomaterials include carbon nanofibers, carbon nanotubes, fullerenes, graphene, carbon-based quantum dots, and others. Carbon nanofibers are cylindrical structures composed predominantly of carbon atoms arranged in a fibrous pattern. Various methods are employed for their production, such as arc discharge, laser ablation, chemical vapor deposition, catalyzed chemical vapor deposition, high-pressure carbon monoxide reaction, and liquid-phase carbon nanotube purification. These materials cater to diverse end-users, including building and construction, electrical and electronics, medical and healthcare, automotive, aerospace, sports and leisure, among others.

The carbon nanomaterials market research report is one of a series of new reports from The Business Research Company that provides carbon nanomaterials market statistics, including carbon nanomaterials industry global market size, regional shares, competitors with a carbon nanomaterials market share, detailed carbon nanomaterials market segments, market trends and opportunities, and any further data you may need to thrive in the carbon nanomaterials industry. This carbon nanomaterials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The carbon nanomaterials market size has grown exponentially in recent years. It will grow from $5.49 billion in 2023 to $7.03 billion in 2024 at a compound annual growth rate (CAGR) of 28.1%. The growth in the historic period of carbon nanomaterials can be attributed to the rising demand in the electronics industry, growing environmental concerns, increased adoption in the automotive sector, and the healthcare industry's utilization, driven by the cost reduction in production processes.

The carbon nanomaterials market size is expected to see exponential growth in the next few years. It will grow to $19 billion in 2028 at a compound annual growth rate (CAGR) of 28.2%. The forecasted growth in the carbon nanomaterials sector can be attributed to the development of nanosensors, increased adoption in construction materials, integration into electronics, expanded research in nanomedicine, and a growing emphasis on sustainable materials. Major trends expected in the forecast period include a focus on functionalization, advancements in energy storage solutions, the application of nanomaterials in construction, increased attention to nanotoxicology research, and the integration of industrial automation and robotics.

The surge in demand for electric vehicles is poised to be a significant driver behind the expansion of the carbon nanomaterials market. Electric vehicles, relying on electric motors powered by external electricity sources, extensively utilize lithium-ion batteries as primary energy storage. Carbon nanomaterials such as graphene and carbon nanotubes play a pivotal role in enhancing the performance of these batteries. These materials are incorporated into lithium batteries to augment electrical conductivity in both positive and negative electrodes without disrupting the electrochemical redox reaction responsible for energy generation in electrochemical cells. For example, the Global EV Outlook 2022 report highlighted a remarkable doubling of electric vehicle sales in 2021, hitting a record high of 6.6 million, with global electric car sales surging from 2,980,000 units to 6,600,000 units. Thus, the heightened demand for electric vehicles serves as a catalyst for the growth of the carbon nanomaterials market.

The escalating demand within the aerospace industry is anticipated to be a pivotal factor propelling the expansion of the carbon nanomaterials market. The aerospace sector encompasses a range of activities and technologies associated with the design, manufacturing, and operation of aircraft and spacecraft. Carbon nanomaterials play a crucial role in elevating aerospace technology by offering improved thermal conductivity, enhanced mechanical properties, and optimized battery performance. These advancements translate into the creation of more efficient, robust, and high-performance aircraft and spacecraft. For instance, in August 2023, Cadrex, a US-based company, reported that aerospace industry revenue soared to $741 billion in 2022, marking a 3% increase from the previous year. The burgeoning demand within the aerospace industry stands as a significant driver behind the growth trajectory of the carbon nanomaterials market.

The prevailing trend in the carbon nanomaterials market revolves around technological advancements. Companies within this sector are actively embracing new technologies as part of their strategy to maintain market dominance. For instance, in March 2021, Cabot Corporation, a US-based chemical company, introduced the ENERMAX 6 carbon nanotube (CNT) series. This series is designed to enhance battery performance by elevating energy density at lower loadings. As a leading supplier of high-performance carbon additives, Cabot Corporation boasts a diverse product portfolio, including carbon black, graphene, carbon nanotubes (CNTs), and carbon nanostructures (CNS). Their innovative approach facilitates the augmentation of battery performance at lower loadings, thereby enabling cells to achieve higher energy density.

Prominent players operating in the carbon nanomaterials market are directing their focus towards innovative product development, exemplified by the creation of graphene nanotube dispersions. These dispersions, derived from graphene, a one-atom-thick two-dimensional carbon sheet renowned for its exceptional mechanical, electrical, and thermal properties, are gaining traction. For instance, in April 2023, OCSiAl Group, a Europe-based company specializing in graphene nanotube production, launched 1% tuball batt NMP for cathodes and 0.8% tuball batt H2O for anodes. These products are instrumental in enhancing battery performance, specifically in terms of energy density, rapid charging capabilities, and cost reduction for lithium-ion batteries. Their applications span across established and emerging battery technologies, encompassing solid-state batteries and a dry battery electrode coating method. The incorporation of nanotubes establishes robust electrical networks among active material particles, thereby improving essential battery properties such as cycle life, reduced DCR, C-rate performance, and cohesion between active battery material particles. This enhancement results in more resilient battery electrodes.

In October 2023, Birla Carbon, an India-based manufacturer and supplier of carbon black, successfully acquired Nanocyl S.A. for an undisclosed amount. This strategic move aims to enhance Birla Carbon's presence in the battery materials segment, particularly those crucial for the operation of lithium-ion batteries. Through this acquisition, Birla Carbon gains access to a diverse range of Multi-Walled Carbon Nanotube (MWCNT) solutions. These nanotubes find applications in electric vehicle (EV) batteries, positioning Birla Carbon to play a significant role in the emerging nanotechnology industry. Nanocyl S.A., based in Belgium, specializes in the production of carbon nanotubes.

Major companies operating in the carbon nanomaterials market report are 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

Asia-Pacific was the largest region in the carbon nanomaterials market in 2023. The regions covered in the carbon nanomaterials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the carbon nanomaterials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The carbon nanomaterials market includes revenues earned by entities by providing services related to detection of hazardous compounds in food, pharmaceutical products, gene and drug delivery. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Carbon Nanomaterials Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on carbon nanomaterials market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for carbon nanomaterials ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The carbon nanomaterials market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 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
• Companies Mentioned: Hanwha Corporation; LG Chem Ltd.; Northrop Grumman Corporation; Sumitomo Electric Industries Ltd.; Arkema S.A.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.