Unlocking Opportunities in the Carbon Nanomaterials Market: Key Trends, Market Growth, and Forecast Insights
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Major Innovations Are Driving the Accelerated Growth of the Carbon Nanomaterials Market?
The carbon nanomaterials market is set to grow due to the rising preference for electric vehicles. An electric vehicle utilizes one or more electric motors that use electricity obtained from an external source. Utilizing carbon nanomaterials like graphene and carbon nanotubes enhances the functionality of lithium-ion batteries, which are the main energy storage components in electric cars. These carbon compounds are used in lithium batteries to enhance electrical conductivity of both positive and negative electrodes, without disrupting the electrochemical redox reaction that generates energy in the electrochemical cell. For example, in February 2024, the Department of Infrastructure, Transport, Regional Development, Communications, and the Arts, an Australian government department responsible for implementing government policies and programs, stated that as of January 31, 2022, the number of registered motor vehicles has reached 20.7 million, reflecting a 2% increase from January 2021. The number of battery electric vehicles (BEVs) has reached approximately 40,000, indicating a 100% rise from 2021, and amongst these, 34,200 were passenger cars in 2022, marking a 118% rise from 2021. Consequently, the growing demand for electric vehicles is fueling the expansion of the carbon nanomaterials market.
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#What is the Anticipated CAGR of theCarbon Nanomaterials Market, and What Factors Will Drive It?
There has been an exceptional increase in the size of the carbon nanomaterials market in the previous years. The market value, which is projected to be $6.99 billion in 2024, is expected to escalate to $8.93 billion in 2025, registering a compound annual growth rate (CAGR) of 27.7%. The unprecedented growth noticed in the historical timespan can be credited to factors such as heightened demand from the electronics industry, rising environmental concerns and needs of the automotive sector. Additionally, the adoption in the healthcare sector and a decrease in production costs have also contributed.
In the coming years, the carbon nanomaterials market is predicted to experience explosive growth, expanding to a valuation of $24.99 billion by 2029 with a compound annual growth rate (CAGR) of 29.3%. The anticipated growth during the forecast period is owed to the evolution of nanosensors, their usage in building materials, integration in the electronics sector, the advancement in nanomedicine research, and an emphasis on sustainable materials. The notable trends during this forecasted period involves attention towards functionalization, improvement in energy storage solutions, the utilization of nanomaterials in construction, focus on nanotoxicology research, and the rise of industrial automation and robotics.
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What Are the Most Significant Market Trends Transforming theCarbon Nanomaterials Market?
A significant trend emerging in the carbon nanomaterials market is the integration of technological innovations. Companies in this market are resorting to the adoption of new technologies to maintain their competitive edge. For example, in September 2024, the Luxembourg-based Nanotechnology company OCSiAl, established a new production facility for carbon nanotubes in Serbia. This move significantly boosts their partnership with ProLogium for the company’s gigafactory project in Dunkirk, France. With an impressive annual production capacity of 3,000 metric tons of single-walled carbon nanotube dispersion, the aim of this facility is to strengthen the European supply chain for high-performance batteries. This alliance will allow ProLogium to incorporate OCSiAl’s nanotubes into their advanced lithium ceramic batteries, which will improve their conductivity and energy density, while satisfying strict safety regulations. ProLogium is expected to kick-start mass production by the start of 2027, solidifying both firms’ resolve towards innovation and sustainability in the electric vehicle market.
What Are the Top Market Players Propelling the Growth of theCarbon Nanomaterials Industry?
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
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Which Primary Segments of the Carbon Nanomaterials Market Are Driving Growth and Industry Transformations?
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 Regions Are Key Players in the Growth of the #What Major Innovations Are Driving the Accelerated Growth of the Carbon Nanomaterials Market?# 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.
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