At 17.3% CAGR, the Europe Carbon Nanotubes Market is projected to be worth US$ 3,723.59 million by 2028, says The Business Market Insights

According to the Business Market Insights’ research, the Europe carbon nanotubes market was valued at US$ 1427.57 million in 2022 and is expected to reach US$ 3,723.59 million by 2028, registering a CAGR of 17.3% from 2022 to 2028. Rising demand for carbon nanotube-based composites and increasing demand for carbon nanotubes (CNTs) for energy storage applications are the critical factors attributed to the Europe carbon nanotubes market expansion.

The growing demand for lightweight substitutes of metal with superior thermal, electrochemical, and mechanical characteristics has resulted in rising research related to composites and composite materials. Technological advancements and next-generation microscale applications in the electrical & electronics sector need efficient and high-functionality materials such as CNTs. Further, CNT-based composites technology is widely utilized in aerospace, defense, automotive and infrastructure industries. The research focused on the innovation of lightweight ultra-high strength material for application in exploration vehicles.

CNT-reinforced polymer composites are used in automotive applications such as exhaust systems, catalytic converters, suspension systems, engines, automotive structural components, and power train materials. Moreover, multi-walled CNTs are gaining popularity as a robust and lightweight alternative to copper. The growing demand for lightweight automobiles with high fuel efficiency and minimal carbon emissions has encouraged automotive manufacturers to invest in research of novel CNT-based composites and increasingly utilize carbon nanotubes. Thus, the rising demand for CNT-based composites from various industries is driving the carbon nanotubes market.  

On the contrary, environmental concerns related to carbon nanotubes hurdles the growth of Europe carbon nanotubes market.

Based on type, the Europe carbon nanotubes market is bifurcated into multi-walled carbon nanotubes, and single-walled carbon nanotubes. The multi-walled carbon nanotubes segment held 93.3% market share in Europe carbon nanotubes market in 2022, amassing US$ 1,331.41 million. It is projected to garner US$ 3,336.95 million by 2028 to expand at 16.5% CAGR during 2022–2028.

Based on application, the Europe carbon nanotubes market is segmented into electronics and semiconductors, energy storage, structural composites, aerospace and defense, medical, and others. The structural composites segment held 38.0% market share in 2022, amassing US$ 542.23 million. It is projected to garner US$ 1,317.54 million by 2028 to expand at 15.9% CAGR during 2022–2028.

Based on country, the Europe carbon nanotubes market has been categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe.  Our regional analysis states that Germany captured 23.6% market share in 2022. It was assessed at US$ 337.36 million in 2022 and is likely to hit US$ 1006.23 million by 2028, exhibiting a CAGR of 20.0% during the forecast period.     

Key players dominating the Europe carbon nanotubes market are Nanoshel LLC; Kumho Petrochemical Co Ltd; Klean Industries Inc; LG Chem Ltd; Nanocyl SA; Arkema SA; Tokyo Chemical Industries Co Ltd; and Cobot Corp among others.   

• In Aug 2022, LG Chem to build carbon nanotube Plant 4 for EV batteries
• In Sept 2020, Arkema partnered with the Korea Association of Carbon-Nano Industry

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