At 15.2% CAGR, the Middle East & Africa Carbon Nanotubes Market is projected to be worth US$ 969.22 million by 2028, says The Business Market Insights

According to the Business Market Insights’ research, the Middle East & Africa carbon nanotubes market was valued at US$ 414.84 million in 2022 and is expected to reach US$ 969.22 million by 2028, registering a CAGR of 15.2% from 2022 to 2028. Utilization of carbon nanotubes in 3D printing and adoption of carbon nanotubes for cancer treatment are the critical factors attributed to the Middle East & Africa carbon nanotubes market expansion. 

Carbon nanotubes are known for their mechanical, electrical, and thermal capabilities, making them ideal for 3D printing polymer integration. 3D printing or additive manufacturing is already an area of focus for researchers and several manufacturers across the region due to its advantages such as characteristic efficiency, low wastage, and high flexibility. Further, the incorporation of CNTs in nanocomposite ink for 3D printing can enhance the functionality of this advanced printing process and impart electrostatic dissipative properties. Electrostatic Discharge (ESD) is a major challenge for the electronics and aerospace industries. ESD can potentially damage aircraft components and spacecraft. Therefore, CNTs are incorporated in polymer to make the 3D-printed complex structures ESD-safe. Several researches have revealed that the utilization of CNT in nanocomposite polymeric ink for 3D printing provides high-performance printing, along with high precision and structural complexity. Furthermore, the growing number of researches on CNTs and 3D printing ha+s influenced 3D printing solutions providers to launch novel technology to cater to the demands of the aerospace, medical, electronics, and defense sectors.  On the contrary, environmental concerns related to carbon nanotubes hurdles the growth of Middle East & Africa carbon nanotubes market. 

Based on type, the Middle East & Africa carbon nanotubes market is bifurcated into multi-walled carbon nanotubes, and single-walled carbon nanotubes. The multi-walled carbon nanotubes segment held 96.6% market share in Middle East & Africa carbon nanotubes market in 2022, amassing US$ 400.91 million. It is projected to garner US$ 913.94 million by 2028 to expand at 14.7% CAGR during 2022–2028.

Based on application, the Middle East & Africa carbon nanotubes market is segmented into electronics and semiconductors, energy storage, structural composites, aerospace and defense, medical, and others. The structural composites segment held 39.5% market share in 2022, amassing US$ 163.94 million. It is projected to garner US$ 368.38 million by 2028 to expand at 14.4% CAGR during 2022–2028.

Based on country, the Middle East & Africa carbon nanotubes market has been categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa.  Our regional analysis states that Saudi Arabia captured 33.2% market share in 2022. It was assessed at US$ 137.86 million in 2022 and is likely to hit US$ 320.07 million by 2028, exhibiting a CAGR of 15.1% during the forecast period.     

Key players dominating the Middle East & Africa carbon nanotubes market are Nanoshel LLC ; Kumho Petrochemical Co Ltd; Klean Industries Inc; LG Chem Ltd; Arkema SA; and Cobot Corp among others.   

• In Aug 2022, LG Chem to build carbon nanotube Plant 4 for EV batteries.
• In March 2021, Cabot Corp launched new Enermax carbon nanotube solutions.

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