Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Carbon Nanomaterials Market size was USD 26.3 billion in 2024 and is estimated to reach USD 100.7 billion by the end of 2037, expanding at a CAGR of 10.9% during the forecast period, i.e., 2025-2037. In 2025, the industry size of carbon nanomaterials is assessed at USD 29.1 billion.
The continuous technological advancements in the field of carbon nanomaterials are driving their incorporation into composite materials used in the automotive, aerospace, and construction sectors. The application of carbon nanotube (CNT) and graphene in polymer composites uplifts the strength, flexibility, and conductivity, and reduces the overall weight. These properties effectively align with the energy efficiency and sustainability trend, propelling the sales of carbon nanomaterials. The increasing demand for high-performance and specialized materials in these sectors is poised to propel the consumption of carbon nanomaterials in the coming years.
Carbon nanomaterials such as graphene and nanotubes are finding high applications in electronics and semiconductors. The prime factors driving carbon nanomaterials’ use in advanced transistors, memory devices, and other semiconductor components is due to their unique electrical properties including electron mobility and high conductivity. Furthermore, the miniaturization trend in electronic devices is fueling the demand for carbon nanomaterials. For instance, in March 2025, The Semiconductor Industry Association (SIA) revealed that the semiconductor sales globally were calculated at USD 56.5 billion as of January 2025, a rise of almost 18.0% compared to the same period during the previous year. Furthermore, Research Nester’s global electronics and smart devices market report expects revenue generation to surpass USD 2.05 trillion by 2037.
Carbon Nanomaterials Market: Growth Drivers and Challenges
Growth Drivers
- High demand for advanced materials in EV & renewable sources: The boom in the adoption of advanced materials in energy storage batteries is opening lucrative opportunities for carbon nanomaterial manufacturers. Graphene, carbon nanotubes, and aerogels are being widely demanded in the production of lithium-ion batteries, fuel cells, and supercapacitors. Electric vehicles and renewable energy systems’ performance is being enhanced owing to the use of carbon nanomaterials in batteries and capacitors to uplift their lifespan and charging capacity. For instance, the International Energy Agency (IEA) study highlights that the automotive lithium-ion (Li-ion) battery demand grew by 65% to 550 GWh in 2022 from 330 GWh in 2021, influenced by the hike in electric passenger vehicle registrations. Furthermore, according to the same source, the demand for Li batteries stood at 140.0 kt in 2023 backed by a 10% growth in lithium supply.
- Increasing applications in biomedical solutions: The emerging application of carbon nanomaterials in biomedical product manufacturing is set to double the revenues of key carbon nanomaterials market players in the coming years. Graphene oxide and carbon nanotubes are showing potential outcomes in drug delivery, imaging, and diagnostic tools. The expanding innovations for the exploration of carbon nanomaterial use in biosensors and medical devices are expected to propel the overall market growth in the coming years. The analysis by Research Nester explains that the global smart diagnostic and monitoring medical device market is anticipated to increase at a CAGR of 19.1% during the forecast period. The U.S. leads medical device sales and accounts for nearly 40.0% of the global market share, according to the Advanced Medical Technology Association (AdvaMed).
Challenges
- Capital-intensive production uplifts final product costs: The high cost of production is likely to hinder the adoption of advanced carbon nanomaterials to some extent in the years ahead. The synthesis of nanotubes and graphene is a complex and energy-intensive process, which uplifts the costs of the final product. Furthermore, continuous technological advancements require high capital investment, which increases the product costs and limits its adoption for the short term.
- Environmental concerns & strict regulations: The strict environmental regulations on carbon emissions are expected to hinder carbon nanomaterial production. Strict regulations and safety guidelines for nanomaterial production are estimated to slow the adoption rates in end use industries. Sustainable manufacturing practices are anticipated to aid carbon nanomaterial materials to overcome these issues in the coming years.
Carbon Nanomaterials Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
10.9% |
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Base Year Market Size (2024) |
USD 26.3 billion |
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Forecast Year Market Size (2037) |
USD 100.7 billion |
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Regional Scope |
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Carbon Nanomaterials Segmentation
Type (Carbon Nanotubes, Carbon Nanofibers, Carbon Black, Activated Carbon, Graphene)
Carbon nanotubes segment is expected to dominate carbon nanomaterials market share of over 52.8% by 2037. Advancements in nanotechnology are contributing to the increasing demand for carbon nanotubes in the automotive, aerospace, construction, and energy sectors. The miniaturization trend is uplifting the demand for carbon nanotubes in the electronics sector. Automotive and aerospace companies are widely using carbon nanotubes to mitigate the weight of vehicles and enhance energy efficiency. Innovations are also driving the use of carbon nanotubes in resin production. For instance, in December 2022, Mechnano disclosed the development of additive manufacturing resin employing the power of discrete carbon nanotubes.
Form (Powder, Dispersion, Film, Composite)
In carbon nanomaterials market, powder segment is set to dominate revenue share of over 55.5% by 2037. High surface area and reactivity are amplifying the sales of powder carbon nanomaterials. Versatility plays a key role in enhancing the application of powder carbon nanomaterials in energy storage systems. For example, the use of carbon powder in fuel cells enhances its efficiency and longevity. Easy to produce, handle, and transport is further backing the sales of power carbon nanomaterials. Continuous investments in technological innovations are further set to drive the consumption of carbon powders in the coming years.
Our in-depth analysis of the global carbon nanomaterials market includes the following segments:
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Type |
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Application |
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Form |
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Purity |
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Customize this ReportCarbon Nanomaterials Industry - Regional Scope
North America Market Forecast
North America carbon nanomaterials market is expected to hold revenue share of more than 35.5% by 2037. The continuous technological advancements and high investments in the development of advanced semiconductor solutions are poised to open lucrative doors for carbon nanomaterial manufacturers in the coming years. The demand for high-performance materials for the development of advanced aerospace and defense solutions is fueling the use of carbon nanomaterials. Furthermore, the strong existence of carbon nanomaterial manufacturers is contributing to the overall market growth.
In the U.S., the government is funding heavily in the semiconductor manufacturing field to uplift its position in the global landscape. The advanced semiconductors integrated with carbon nanomaterials are expected to enhance the performance of aerospace, defense, and automotive components. In July 2024, the U.S. Department of Commerce (DOC) announced the investment of nearly ISD 400.0 million in silicon wafer manufacturing. This was carried out in collaboration with GlobalWafers America, LLC, and MEMC LLC aiming for silicon & semiconductor leadership.
Canada’s aerospace industry is set to substantially fuel the demand for carbon nanomaterials in the coming years. The high demand for specialized materials in aerospace components manufacturing is increasing the applications of carbon nanomaterials including nanotubes and graphene. The growth of the aerospace sector is expected to positively influence the consumption of carbon nanomaterials in the years ahead. The government of Canada discloses that the aerospace sector contributes around USD 28.9 billion to the country’s GDP and generates nearly 218,000 employment opportunities.
Asia Pacific Market Statistics
The Asia Pacific carbon nanomaterials market is foreseen to increase at a swift pace during the assessed period. The strong presence of end use industries such as automotive, construction, aerospace, renewable energy, and biomedical devices is set to significantly back the sales of carbon nanomaterials. Supportive government policies and high consumption of specialized materials are increasing the applications of graphene and carbon nanotubes. The leading chemical producers' dominance in the region is also amplifying the production and commercialization of carbon nanomaterials in China, India, South Korea, and Japan.
China a leader in semiconductor manufacturing is likely to positively influence carbon nanomaterial sales. The increasing domestic production, supportive industrial policies, and the importance of specialized chemicals and materials are poised to drive the sales of carbon nanomaterials in the country. For instance, as per the new industrial policy domestic semiconductor chip manufacturing is expected to increase from 40.0% in 2020 to 70.0% by 2025, says the Foreign Policy Research Institute (FPRI). Furthermore, the continuous development of innovative consumer electronic products is anticipated to create lucrative opportunities for carbon nanomaterial manufacturers.
India’s robustly developing automobile especially EV and renewable energy sector is pushing the trade of carbon nanomaterials. The rise in electric vehicle demand and installation of renewable energy storage solutions is likely to offer double-digit percent revenue growth opportunities for carbon nanomaterial manufacturers. The India Brand Equity Foundation (IBEF) study explains that domestic companies are aiming to invest around USD 3.46 billion for the development of electric vehicle parts and tech upgrades in FY 2026. The same source also estimates that the country is planning to invest nearly USD 109.9 billion for the expansion of its power infrastructure and to meet the requirement of 458 GW by 2032.
Companies Dominating the Carbon Nanomaterials Market
- CHASM Advanced Materials, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Arkema S.A.
- Cabot Corporation
- Hyperion Catalysis International
- Jiangsu Tiannai Technology Co. Ltd.
- Klean Industries Inc.
- Kumho Petrochemical
- Lg Chem
- AGH Nanomaterials S.A.
- Cheap Tubes, Inc.
- Applied Nanotech Holdings, Inc.
- Evonik Industries AG
- Renesas Electronics Corporation
- Nanomesh Innovations B.V.
- Shenzhen Nanotech Port Co. Ltd.
The key players in the carbon nanomaterials market are employing several organic and inorganic strategies to earn high shares and reach a wider consumer base. Leading companies are continuously investing in R&D activities to introduce next-gen carbon nanomaterials and attract a new customer base. Strategic collaborations and partnerships with other players and raw material providers are set to uplift the market position of carbon nanomaterials in the coming years. To grab lucrative opportunities, key market players are entering into untapped markets.
Some of the key players include in carbon nanomaterials market:
In the News
- In January 2025, researchers from Rice University published a breakthrough study in the journal Carbon explaining that carbon nanotube (CNT) fibers can be fully recycled without any loss in their structure or properties. The research concluded that CNT fibers are sustainable alternatives to conventional materials such as polymers, metals, and larger carbon fibers that are difficult to recycle.
- In June 2023, CHASM Advanced Materials, Inc. announced the launch of NTeC-E conductive CNT additives for Li-ion batteries used in electric vehicles (EVs). The company also showcased its products and technologies Advanced Automotive Battery Conference (AABC) Europe.
Author Credits: Rajrani Baghel
- Report ID: 7348
- Published Date: Mar 18, 2025
- Report Format: PDF, PPT
