The Global Multi-Wall Carbon Nanotube 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 propelled by surging demand for lightweight, high-strength materials across various industries, significant advancements in electronics and battery technologies, and increasing government and private sector investments in nanotechnology R&D.

As industries worldwide push the boundaries of material science to enhance performance and sustainability, the focus intensifies on the key manufacturers pioneering the production and application of Multi-Wall Carbon Nanotubes (MWCNTs). In this blog, we profile the Top 10 Companies in the Multi-Wall Carbon Nanotube Industry—a dynamic group of chemical giants, specialized manufacturers, and innovators 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), MWCNT grades for composites, batteries, and electronics

Showa Denko K.K. (SDK) is a global leader in carbon materials, with its VGCF™ product line representing a significant share of the high-purity MWCNT market. The company’s advanced vapor-phase growth technology enables the production of nanotubes with exceptional structural integrity and electrical conductivity, making them ideal for demanding applications in lithium-ion battery anodes, conductive plastics, and high-performance composites.

Innovation Focus:

• Expansion of production capacity to meet EV battery market demand

• Development of customized MWCNT dispersions for enhanced material compatibility

• Strategic partnerships with automotive and electronics OEMs

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9️⃣ 2. Nanocyl S.A.

Headquarters: Sambreville, Belgium
Key Offering: NC7000™ series MWCNTs, specialty masterbatches, and functionalized nanotubes

Nanocyl is a pioneer and one of the largest specialized producers of MWCNTs in Europe. Its proprietary catalytic carbon vapor deposition (CCVD) process yields high-quality, consistent nanotubes. The company is renowned for its comprehensive portfolio, which includes a range of purity levels and surface-functionalized MWCNTs tailored for specific applications in aerospace, automotive, and sporting goods.

Innovation Focus:

• Leading R&D in nanotube functionalization for superior polymer integration

• Focus on sustainability with life-cycle assessment studies for MWCNT products

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8️⃣ 3. Arkema Group

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

Arkema, a global specialty chemicals leader, offers its Graphistrength® range, which are masterbatches of MWCNTs dispersed in various polymer matrices. This pre-dispersed form simplifies downstream processing for customers, enabling easier incorporation into plastics and composites to significantly improve mechanical strength, thermal stability, and electrical conductivity.

Innovation Focus:

• Development of application-specific masterbatches for lightweight automotive parts

• Integration of MWCNTs into sustainable bio-based polymers

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7️⃣ 4. Hanwha Corporation

Headquarters: Seoul, South Korea
Key Offering: MWCNTs for energy storage, conductive coatings, and composite materials

Hanwha, a major South Korean conglomerate, has a growing presence in the advanced materials sector, including MWCNT production. Leveraging its strong position in chemicals and materials, the company supplies high-purity nanotubes primarily targeting the rapidly expanding energy storage market, particularly for enhancing the performance of lithium-ion batteries.

Innovation Focus:

• Scaling up production to support the domestic and global battery supply chain

• R&D focused on improving the electrochemical properties of MWCNTs for next-gen batteries

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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 key player in North America for high-purity carbon nanotubes. The company specializes in producing sorted and unsorted nanotubes, catering to research institutions and industrial customers requiring precise material specifications for advanced electronics, sensors, and conductive films.

Innovation Focus:

• Advanced purification and separation technologies for specific nanotube chiralities

• Supplying high-value nanotubes for cutting-edge R&D and prototyping

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5️⃣ 6. Thomas Swan & Co. Ltd.

Headquarters: Consett, United Kingdom
Key Offering: Elicarb® MWCNTs and graphene products

Thomas Swan is a respected UK-based chemical company with a dedicated advanced materials division. Its Elicarb® range includes high-quality MWCNTs produced via a scalable continuous process. The company has a strong focus on supplying materials for composites, coatings, and electronic applications, with an emphasis on product consistency and batch-to-batch reliability.

Innovation Focus:

• Co-development projects with academic and industrial partners for new applications

• Commitment to sustainable manufacturing practices in nanomaterial production

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4️⃣ 7. Kumho Petrochemical

Headquarters: Seoul, South Korea
Key Offering: MBMS series MWCNT masterbatches for rubber and plastics

Kumho Petrochemical, a leading South Korean chemical company, has entered the MWCNT market by leveraging its expertise in synthetic rubber and petrochemicals. The company produces MWCNT masterbatches specifically designed to enhance the properties of rubber compounds used in tires and industrial products, improving wear resistance and mechanical strength.

Innovation Focus:

• Application development in the tire industry for longer-lasting, fuel-efficient tires

• Expansion of MWCNT product lines for engineering plastics

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

Headquarters: Chengdu, Sichuan, China
Key Offering: TNS series MWCNTs, functionalized nanotubes, and dispersions

Timesnano, a subsidiary of the Chinese Academy of Sciences’ Chengdu Organic Chemicals Co., Ltd., is a major force in the Asian MWCNT market. It benefits from strong academic backing and a focus on industrial-scale production. The company offers a wide array of MWCNT products, catering to the massive domestic demand from the plastics, battery, and coating industries in China and abroad.

Innovation Focus:

• Low-cost, high-volume production techniques to drive market adoption

• Extensive R&D on the application of MWCNTs in energy storage and conversion

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2️⃣ 9. SUSN NanoTech Co., Ltd. (SSZK)

Headquarters: Shenzhen, Guangdong, China
Key Offering: MWCNTs for conductive pastes, composites, and anti-static materials

SUSN NanoTech (SSZK) is a prominent Chinese manufacturer specializing in nano-carbon materials. The company has established a significant production capacity for MWCNTs and focuses on serving the electronics and semiconductor industries with conductive additives and composite materials essential for EMI shielding and static dissipation.

Innovation Focus:

• Developing high-conductivity MWCNT formulations for printable electronics

• Expanding international sales networks to compete globally

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1️⃣ 10. Klean Industries Inc.

Headquarters: Vancouver, British Columbia, Canada
Key Offering: MWCNTs derived from recycled carbon sources

Klean Industries adopts a unique and sustainable approach to the MWCNT market. The company focuses on pyrolysis technology to convert waste plastics and tires into carbon black, which can then be upgraded into carbon nanotubes. This circular economy model positions Klean as an innovator in producing sustainable nanomaterials.

Innovation Focus:

• Pioneering the production of “green” MWCNTs from post-consumer waste streams

• Developing integrated systems for waste-to-nanomaterials conversion

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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 established applications in composites and anti-static materials drive current volumes, the industry is heavily investing in next-generation energy storage, advanced electronics, and sustainable production methods.

📈 Key Trends Shaping the Market:

• Exponential growth in demand from the electric vehicle (EV) battery sector for conductive additives

• Development of low-cost, scalable synthesis methods to improve cost-effectiveness

• Increasing regulatory focus on the safety and lifecycle assessment of nanomaterials

• R&D into multifunctional composites for aerospace and defense applications

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

The companies listed above are not only supplying a revolutionary material—they are enabling a new era of lightweighting, electrification, and material intelligence across global industries.