The Global Multi-Wall Carbon Nanotube (MWCNT) Market was valued at USD 228.2 Million in 2023 and is projected to reach USD 354.4 Million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 6.6% during the forecast period (2024–2030). This robust growth is driven by escalating demand for high-performance materials in the plastics & composites, energy storage, and electronics sectors, alongside significant advancements in production technologies and supportive regulatory frameworks.

As industries globally pivot towards lightweight, strong, and conductive materials, Multi-Wall Carbon Nanotubes are emerging as a cornerstone of modern material science. In this blog, we profile the Top 10 Companies in the Multi-Wall Carbon Nanotube Industry—a dynamic mix of established chemical giants and specialized nanomaterial producers shaping the future of advanced materials.

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🔟 1. Showa Denko K.K.

Headquarters: Tokyo, Japan
Key Offering: VGCF™ (Vapor Grown Carbon Fiber) and MWCNTs

Showa Denko K.K. is a global leader in carbon materials and a major producer of Vapor Grown Carbon Fibers, which include multi-wall carbon nanotubes. Their materials are renowned for high purity and excellent electrical and thermal conductivity, serving a wide range of applications from lithium-ion battery electrodes to advanced composites.

Innovation & Expansion Initiatives:

• Continuous investment in scaling up VGCF production capacity to meet growing battery market demand.

• Strategic R&D focus on enhancing the dispersion and functionalization of MWCNTs for polymer composites.

• Partnerships with global automotive and electronics manufacturers for next-generation material solutions.

Download FREE Sample Report:
Multi-Wall Carbon Nanotube Market – View in Detailed Research Report

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9️⃣ 2. Nanocyl S.A.

Headquarters: Sambreville, Belgium
Key Offering: NC7000™ series MWCNTs, specialized functionalized nanotubes

Nanocyl S.A. is a pioneer and one of the largest European producers of Multi-Wall Carbon Nanotubes. The company’s NC7000™ series is an industry benchmark, known for its consistent quality and performance in applications ranging from electrostatic discharge (ESD) plastics to aerospace composites.

Innovation & Expansion Initiatives:

• Development of tailor-made MWCNT solutions for specific customer applications and industry requirements.

• Strong focus on sustainability, exploring bio-based precursors and greener production processes.

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8️⃣ 3. Arkema Group

Headquarters: Colombes, France
Key Offering: Graphistrength® MWCNT masterbatches and powders

Arkema, a global specialty chemicals leader, offers Graphistrength®, a range of high-performance MWCNT products. These are primarily supplied as masterbatches for easy incorporation into polymers, enhancing mechanical strength, electrical conductivity, and thermal stability.

Innovation & Expansion Initiatives:

• Expansion of production facilities to support the growing demand in the electric vehicle battery market.

• Active research into new composite formulations for lightweight automotive and renewable energy applications.

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7️⃣ 4. Hanwha Solutions/Chemical Division

Headquarters: Seoul, South Korea
Key Offering: Multi-Wall Carbon Nanotubes for batteries and composites

Hanwha Solutions is a key player in the Asian MWCNT market, leveraging its strong position in the petrochemical industry. The company produces high-quality nanotubes that are critical components as conductive additives in lithium-ion batteries for electric vehicles and consumer electronics.

Innovation & Expansion Initiatives:

• Significant investments in increasing MWCNT production capacity specifically for the energy storage sector.

• Collaboration with battery manufacturers to optimize CNT dispersion and performance in anode and cathode materials.

Download FREE Sample Report:
Multi-Wall Carbon Nanotube Market – View in Detailed Research Report

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6️⃣ 5. Raymor Industries Inc. / NanoIntegris

Headquarters: Boisbriand, Quebec, Canada
Key Offering: High-purity MWCNTs and single-wall carbon nanotubes (SWCNTs)

Raymor, through its acquisition of NanoIntegris, is a leading North American supplier of high-purity carbon nanotubes. The company specializes in providing nanotubes for demanding R&D and commercial applications, particularly in electronics and advanced materials.

Innovation & Expansion Initiatives:

• Focus on producing Metallic and Semiconducting Single-Wall CNTs for next-generation electronics.

• Development of standardized, high-quality MWCNT products to ensure batch-to-batch consistency for industrial customers.

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5️⃣ 6. Thomas Swan & Co. Ltd.

Headquarters: Consett, United Kingdom
Key Offering: Elicarb® Multi-Wall Carbon Nanotubes

Thomas Swan is a recognized UK-based chemical company with advanced capabilities in nanomaterial production. Its Elicarb® range of MWCNTs is produced using a scalable catalytic chemical vapor deposition (CVD) process, known for its high quality and commercial viability.

Innovation & Expansion Initiatives:

• Commitment to sustainable manufacturing practices in nanomaterial production.

• Ongoing R&D to improve the cost-effectiveness and application-specific performance of their MWCNTs.

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4️⃣ 7. Kumho Petrochemical

Headquarters: Seoul, South Korea
Key Offering: Carbon Nanotubes for rubber reinforcement and batteries

Kumho Petrochemical, a major South Korean chemical company, has entered the MWCNT market with a focus on applications in tire reinforcement and energy storage. Their expertise in synthetic rubber provides a strong foundation for developing CNT-elastomer composites.

Innovation & Expansion Initiatives:

• Investing in new production lines to capture market share in the rapidly growing Asian battery industry.

• Research into using MWCNTs to create longer-lasting, higher-performance tires with lower rolling resistance.

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3️⃣ 8. Chengdu Organic Chemicals Co. Ltd. (Timesnano)

Headquarters: Chengdu, Sichuan, China
Key Offering: Multi-Wall and Functionalized Carbon Nanotubes

Timesnano, under the Chinese Academy of Sciences, is a leading Chinese producer of carbon nanotubes. The company benefits from strong R&D backing and offers a wide portfolio of MWCNTs, including various functionalized versions for enhanced compatibility with different matrices.

Innovation & Expansion Initiatives:

• Rapid scaling of production capacity to serve domestic and international markets, particularly in plastics and coatings.

• Development of low-cost, high-volume manufacturing processes to make MWCNTs more accessible.

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2️⃣ 9. Kajet Chemical Technology (KCT)

Headquarters: Nanjing, Jiangsu, China
Key Offering: Carbon Nanotube Powders and Dispersions

Kajet Chemical Technology is a specialized manufacturer focusing on the production and application of carbon nanomaterials. The company provides both standard and customized MWCNT products, with a strong emphasis on technical support and application development for its customers.

Innovation & Expansion Initiatives:

• Focus on creating ready-to-use CNT dispersions to simplify the adoption of nanotubes in various industrial processes.

• Expansion of its product line to include graphene and other 2D materials alongside MWCNTs.

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1️⃣ 10. Klean Industries Inc.

Headquarters: Vancouver, British Columbia, Canada
Key Offering: Carbon Nanotubes derived from waste plastic pyrolysis

Klean Industries adopts a unique and sustainable approach to MWCNT production. The company utilizes pyrolysis of waste plastics as a carbon source, positioning itself at the intersection of advanced materials and the circular economy. This method offers a potential pathway for lower-cost and environmentally conscious nanotube production.

Innovation & Expansion Initiatives:

• Pioneering the commercial-scale production of CNTs from recycled carbon feedstock.

• Developing integrated systems that combine plastic waste conversion with high-value nanomaterial output.

Read Full Report:
Multi-Wall Carbon Nanotube Market – View in Detailed Research Report

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🌍 Outlook: The Future of Multi-Wall Carbon Nanotubes is High-Performance and Sustainable

The Multi-Wall Carbon Nanotube market is experiencing a transformative phase. While R&D and niche applications historically dominated, the market is now shifting towards high-volume commercial adoption, driven by the electric vehicle revolution and the demand for advanced materials.

📈 Key Trends Shaping the Market:

• Dominance in Energy Storage: MWCNTs are becoming a critical conductive additive in lithium-ion batteries, with demand soaring alongside EV production.

• Advancements in Composite Materials: Increasing use of MWCNTs in aerospace, automotive, and sporting goods to create lighter, stronger, and more durable components.

• Cost Reduction and Scalability: Continuous process improvements and scaled-up production are steadily reducing the price of MWCNTs, broadening their application scope.

• Sustainable Production Pathways: Growing interest in producing CNTs from renewable or waste-based carbon sources to improve the environmental footprint of nanomaterials.

Read Full Report:
Multi-Wall Carbon Nanotube Market – View in Detailed Research Report

The companies profiled above are not just supplying a material; they are enabling a new era of technological innovation across global industries, from transportation to electronics.