Europe Carbon Nanotube Market Size, Share & Industry Analysis, By Product (Multi Walled Carbon Nanotubes (MWCNT) and Single Walled Carbon Nanotubes (SWCNT)), By Application (Plastics & Composites, Electrical & Electronics (TIMs and Others), Energy, and Others), and Regional Forecast, 2025-2032

The Europe carbon nanotube market size was valued at USD 1.37 billion in 2024. The market is projected to grow from USD 1.54 billion in 2025 to USD 3.50 billion by 2032, exhibiting a CAGR of 12.5% during the forecast period.

Carbon nanotubes (CNTs) are cylindrical nanostructures composed of carbon atoms arranged in a hexagonal lattice, similar to graphene. They exhibit remarkable mechanical, electrical, and thermal properties, making them one of the most promising materials in nanotechnology. CNTs are classified into two main Products: single-walled carbon nanotubes (SWCNTs) and multi-walled carbon nanotubes (MWCNTs). CNTs possess high thermal conductivity, which makes them ideal for applications in heat dissipation, such as in microelectronics and composite materials. Furthermore, CNTs exhibit unique electronic properties that depend on their chirality, which refers to the manner in which their hexagonal carbon lattice is twisted. Some CNTs behave like metals, while others act as semiconductors, enabling their use in transistors, sensors, and flexible electronic devices.

The market is driven by rapid adoption in electric vehicles (EVs), conductive plastics, battery electrodes, anti-static packaging, and high-strength composites. Demand is also influenced by the continent’s expanding gigafactory pipeline, which is increasing the need for CNT-enhanced battery materials, such as conductive additives and CNT-based binders.

The market is comprised of several major players, including OCSiAl, Nanocyl SA, Arkema, Resonac Holdings Corporation, and Canatu. A broad portfolio, innovative product launches, and strong geographic presence expansion have supported the dominance of these companies in the market.

MARKET DYNAMICS

MARKET DRIVERS

Rapid Adoption of Advanced Materials to Propel Market Growth

Automakers across Germany, France, Italy, Spain, and the U.K. are rapidly transitioning to composite-rich vehicle architectures to meet stringent EU emission mandates and the EU’s fleetwide CO₂ targets, which require a 55% reduction in CO₂ emissions by 2030 compared to 2021 baselines. CNTs offer a uniquely powerful solution as they simultaneously reduce weight, enhance structural stiffness, improve impact resistance, and deliver outstanding electrical and thermal properties in polymer composites.

European OEMs and Tier-1 suppliers are integrating CNT-reinforced polymers into critical components, including battery enclosures, fuel lines, conductive plastics, ESD-safe interior parts, anti-static packaging for electronics, and lightweight structural frames. 

• For example, German EV manufacturers have already incorporated CNT-based conductive additives into high-performance lithium-ion battery anodes to enhance charge rates and extend cycle life, enabling faster charging for next-generation electric vehicles.

CNT-reinforced composites are also increasingly adopted in hydrogen fuel cell applications, a priority technology within the EU climate strategy, where CNT-enhanced bipolar plates and gas-diffusion layers significantly improve conductivity while maintaining low mass. Additionally, CNT-based conductive lubricants and coatings are being explored to reduce mechanical friction losses in high-performance drivetrains, further contributing to energy efficiency. CNT-enabled structural composites are particularly attractive in lightweighting programs for commercial fleets, buses, and rail systems, where even 1–2% weight reduction can translate into substantial lifetime fuel savings.

Moreover, the EU Chemical Strategy for Sustainability encourages the shift toward high-performance, longer-life materials, and CNT-based composites demonstrate precisely these characteristics. Furthermore, Europe’s rapidly expanding EV battery gigafactory pipeline, spanning Sweden, France, Germany, and Poland, is reinforcing the need for CNT conductive additives, as companies manufacturing lithium-ion, LFP, NMC, and solid-state batteries increasingly rely on CNT slurries to enhance conductivity at lower loading levels than traditional carbon black.

MARKET RESTRAINTS

Environmental Concerns to Restrict Market Expansion

As the demand for CNTs continues to rise, concerns regarding their production, usage, and disposal have sparked debates about their long-term environmental impact. Issues such as potential toxicity, challenges in biodegradability, and the high energy consumption associated with CNT manufacturing processes could slow Europe carbon nanotube market growth.

The environmental concerns related to CNTs involve their potential toxicity and impacts on human health and ecosystems. Studies suggest that certain types of CNTs, especially those with high aspect ratios, may exhibit properties similar to asbestos fibers, raising concerns about their inhalation risks. If CNT particles are released into the air during manufacturing or disposal, they could pose respiratory hazards to workers and surrounding communities. Moreover, their nanoscale size enables them to penetrate biological membranes, potentially leading to cytotoxic effects. These risks have prompted regulatory bodies, such as the Environmental Protection Agency (EPA) and the European Chemicals Agency (ECHA), to consider stricter regulations for the production and handling of CNTs, which may hinder Europe’s carbon nanotube market growth.

There is a lack of proper disposal and recycling methods for CNT-containing materials. Unlike traditional materials, CNTs do not degrade easily in the environment, which raises concerns about their accumulation in soil and water sources. When CNTs enter ecosystems, their long-term effects on aquatic life and plants remain uncertain, leading to hesitation among industries and environmental agencies. The absence of standardized protocols for CNT waste management has further prompted calls for research on eco-friendly disposal methods. Without sustainable solutions, the increasing use of CNTs across various applications may lead to environmental pollution, limiting their adoption.

MARKET OPPORTUNITIES: 

Sustainability-Driven Material Innovation & Regulatory Pressure Supporting CNT Adoption to Create Lucrative Growth Opportunities

Europe’s robust sustainability goals and regulatory pressures have become one of the strongest macro-driven forces accelerating the adoption of carbon nanotubes (CNTs), as industries across the continent strive to meet stringent climate targets, enhance material efficiency, and reduce environmental impacts throughout the lifecycle. CNTs provide a unique combination of performance benefits that directly support these aims, making them increasingly essential in advanced manufacturing.

Under the EU Green Deal, the Fit-for-55 package, and the Circular Economy Action Plan, companies are required to reduce emissions, lower resource use, extend product lifespans, and shift to energy-efficient materials. CNTs enable all of these outcomes simultaneously by improving mechanical strength, decreasing weight, enhancing electrical and thermal conductivity, and increasing durability. As a result, they are being incorporated into an expanding array of European industrial applications.

• For instance, in the transportation sector, CNT-reinforced polymers are helping automakers comply with the EU’s 2030 emission-reduction mandate by replacing heavier metal components in EV and ICE vehicles with lighter conductive composites that still deliver anti-static, structural, and high-temperature functionality. German and French OEMs use CNT-enhanced polymer housings, battery pack components, and interior assemblies to improve energy efficiency and reduce vehicle mass. 

CNTs are also vital for Europe’s renewable energy transition, especially in wind power, where manufacturers in Denmark and Germany incorporate CNT-reinforced epoxies into turbine blades as they greatly reduce micro-cracking, boost fatigue resistance, extend blade life, and improve lightning-strike protection, essential factors as Europe increases offshore wind capacity and seeks to lower turbine maintenance cycles.

Europe CARBON NANOTUBE MARKET TRENDS

Advanced Electronics Manufacturing and Semiconductors & High-Performance Conductive Materials are One of the Significant Market Trends

The rise of advanced electronics manufacturing, semiconductor innovation, and the development of high-performance conductive materials across Europe represents another major driver for CNT market expansion. CNTs offer extraordinary electrical conductivity, thermal management capability, and nanoscale precision, making them essential for next-gen electronics, flexible displays, sensors, electromagnetic interference (EMI) shielding, and printed electronics used across industrial and consumer technologies. 

Europe boasts a robust semiconductor and microelectronics infrastructure, supported by the EU Chips Act, which is driving innovation in materials for nanoscale interconnects, passive components, and micro-interconnects. CNTs are being explored as replacements for copper in ultra-fine interconnects due to their superior current-carrying capacity, resistance to electro migration, and thermal stability. 

In addition, Europe’s growing market for flexible electronics, wearable devices, IoT sensors, and printable circuits is increasingly relying on CNT-based conductive inks, as they combine high conductivity with flexibility and durability. CNT-enhanced thermally conductive films are also gaining adoption in heat dissipation layers for power electronics, 5G base stations, and EV power control units, particularly as European industries push toward more compact high-power designs.

The region’s strong aerospace and defense ecosystem further adds to demand. CNT-reinforced EMI shielding materials have become essential in aircraft electronics housings, satellite components, radar systems, and secure communication devices due to the growing risks of electromagnetic interference. The consumer electronics sector in Germany, the Netherlands, and the Nordics utilizes CNTs in lightweight conductive plastics, display electrodes, and anti-static components. 

CNT-based transparent conductive films are being explored as alternatives to indium tin oxide (ITO) for displays, touch panels, and solar modules, which aligns with Europe’s push for independence from critical raw materials. Research institutions, including IMEC (Belgium), Fraunhofer (Germany), and CEA Tech (France), are heavily involved in CNT electronics research, further accelerating commercialization. 

MARKET CHALLENGES: 

High Production Costs and Scale-Up Limitations to Hamper Market Growth

CNT technology has advanced significantly; however, producing consistent, high-purity CNTs still requires sophisticated reactors, controlled feedstock environments, and advanced catalyst systems, all of which increase capital and operating costs. European producers, in particular, face strong cost pressures due to higher energy prices, stringent industrial emission norms, and labor-intensive manufacturing frameworks compared to Asia. As a result, CNTs often remain more expensive than competing conductive additives such as carbon black, vapor-grown carbon fibers, or graphene nanoplatelets, which limits their adoption in cost-sensitive industries. The challenge is further intensified when downstream users, particularly those in the plastics, automotive parts, and consumer electronics industries, require competitively priced material solutions within tight procurement budgets. 

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Segmentation Analysis

By Product 

Multi walled Carbon Nanotubes (MWCNT) Segment Held the Dominant Share as they are Increasingly Incorporated Into Energy Storage Systems 

By product, the market is classified into multi walled carbon nanotubes (MWCNT) and single walled carbon nanotubes (SWCNT).

The multi walled carbon nanotubes (MWCNT) segment held the largest Europe carbon nanotube market share in 2024 and is expected to experience substantial growth during the forecast period. MWCNTs are being increasingly incorporated into energy storage systems, electric vehicles (EVs), and advanced construction materials. Germany, France, and the U.K. are leading the adoption of MWCNTs in automotive and aerospace manufacturing, driven by EU carbon emission reduction targets. European Union funding for nanomaterial innovation further supports the expansion of the market. Moreover, MWCNTs are finding applications in next-generation textiles and smart materials, supported by strong academic and R&D infrastructure across the region.

Europe’s SWCNT segment growth is rooted in advancements in sustainable technologies and electronics. Countries such as Germany and the Netherlands are investing in supercapacitors based on SWCNTs, fuel cells, and lightweight electronic components. The region’s strong environmental agenda pushes industries toward eco-friendly materials, where SWCNTs find applications in flexible electronics and biodegradable sensors. Academic institutions and government programs in France and Scandinavia are driving innovation, particularly in life sciences and renewable energy systems. Strategic partnerships between startups and large corporations are accelerating commercialization, despite hurdles related to cost and scalability.

By Application

Plastics & Composites Segment Leads Owing to Increasing Demand for Engineered Polymer

Based on application, the market is segmented into plastics & composites, electrical & electronics (TIMs and others), energy, and others.

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The plastics & composites segment dominates the market, driven by increasing demand for lightweight, high-strength materials across the automotive, aerospace, and construction sectors. CNTs are increasingly being incorporated into thermoplastics and thermosets to enhance mechanical strength, thermal stability, and electrical conductivity, offering advantages over traditional fillers. With the European Union aggressively pushing for carbon neutrality and enhanced fuel efficiency, automotive manufacturers are seeking advanced composite materials to reduce vehicle weight and emissions. The segment is set to hold a 69.4% share in 2025. 

The electrical & electronics segment is witnessing favorable growth throughout the forecast period. Increasing miniaturization of devices and the demand for higher-performance materials are key drivers behind this growth. CNTs are ideal for this sector due to their exceptional electrical conductivity, flexibility, and heat resistance, making them suitable for applications such as printed circuit boards, interconnects, electromagnetic interference (EMI) shielding, and display technologies. Germany, France, and the Netherlands are at the forefront of electronics innovation in Europe, with robust ecosystems for semiconductors and nanotechnology, thereby accelerating CNT adoption. 

The electrical & electronics segment is projected to grow at a CAGR of 11.9% during the study period. 

The energy application segment in the Europe market is experiencing accelerated growth, largely fueled by the region’s clean energy transition and increased investment in sustainable technologies. They are widely utilized in lithium-ion batteries, supercapacitors, and fuel cells, where they enhance electrode performance, increase energy density, and improve charge-discharge cycles. With the European Union’s Green Deal and stringent climate goals targeting net-zero emissions by 2050, there is growing pressure to develop next-generation energy storage solutions.

Carbon Nanotube Market Regional Outlook

By geography, the market is categorized into Germany, the U.K., France, Italy, the Netherlands, Spain, Switzerland, and the Rest of Europe. 

The growth of carbon nanotubes in Germany is attributed to its advanced automotive and engineering sectors. The country’s emphasis on high-performance materials for automotive components and industrial applications drives demand for CNTs. As German OEMs and Tier-1 suppliers are transitioning to EV-centric architectures, the demand for materials with enhanced conductivity, mechanical resilience, and lightweighting capabilities has intensified, capabilities that CNT-enhanced polymers and composites offer efficiency gains. Additionally, Germany’s engineering leadership in machinery, specialty polymers, and carbon-fiber composites naturally extends into CNT integration for aerospace parts, industrial equipment housings, and thermally conductive polymer compounds.

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The U.K. market’s growth is driven by a significant demand for wearable electronic devices, and microelectronics facilitate the integration of CNTs into various applications. The U.K.’s dedication to technological advancement and innovation fosters a conducive environment for CNT market growth, with ongoing explorations into new commercial applications across diverse industries. The U.K.’s planned EV and energy-storage investments, including domestic cell manufacturing initiatives, encourage the use of CNTs as conductive agents and structural enhancers for cathode/anode formulations. 

In France, the market growth is driven by a combination of its strong composites industry, robust aerospace and defence manufacturing, and government-backed initiatives supporting low-carbon mobility and high-performance industrial materials. French aerospace suppliers and system manufacturers integrate CNT-reinforced composites to improve mechanical stiffness, fatigue life, conductivity, and weight reduction in structural components, cabin materials, and electrical systems. Additionally, the country’s legacy automotive industry, driving the transition toward electric vehicles by domestic OEMs, encourages the use of CNTs in lithium-ion batteries, conductive compounds, EMI shielding parts, and thermally managed polymer housings. France also maintains a sophisticated chemicals and specialty-materials sector that utilizes CNTs in coatings, conductive inks, polymer blend modifiers, and advanced elastomers for industrial and electronic applications.

COMPETITIVE LANDSCAPE

Key Industry Players:

Key Market Participants are Forging Partnerships to Expand their Market Reach

The market is concentrated and competitive, with major players including OCSiAl, Nanocyl SA, Arkema, Resonac Holdings Corporation, Canatu, and others. These companies are forming strategic initiatives, including partnerships, collaborations, joint ventures, and new product development, to broaden their product portfolios and expand their global reach. Low business feasibility, owing to high manufacturing costs, is likely to be a concerning reason for the industrial participants. However, regulatory inclination toward promoting nanotechnology shall be a major driving factor for manufacturers.

LIST OF KEY CARBON NANOTUBE COMPANIES PROFILED:

• Arkema SA (France)
• Nanocyl SA (Belgium)
• Resonac Holdings Corporation (Japan)
• OCSiAl (Luxembourg)
• CHASM Advanced Materials (U.S.)
• Canatu (Finland)
• UP Catalyst (Estonia)
• MOLCHEM (U.K.)

KEY INDUSTRY DEVELOPMENTS:

March 2025: Canatu launched its five-year “Carbon Age” program with up to USD 10.8 million in Business Finland funding, aiming to build a CNT-based semiconductor ecosystem and pilot fab in Finland, positioning European CNT capabilities for next-generation chips. 

October 2024: OCSiAl opened its first European graphene nanotube facility. The facility has a nameplate annual capacity for graphene nanotube synthesis of 60 tonnes, and dedicated lines for various nanotube dispersions, an R&D laboratory, and a quality control laboratory.

June 2024: OCSiAl completed the construction of a facility for producing single-wall carbon nanotube (SWCNT) dispersions in Serbia, which would support the manufacturing of high-performance batteries. The facility features state-of-the-art equipment and clean room-operated production lines, adhering to the highest quality standards.

June 2024: OCSiAl expanded its battery product portfolio with high-content single-wall carbon nanotube (SWCNT) dispersions, providing cost-saving benefits to cell makers and signaling preparation for larger-scale European dispersion and synthesis capacity.

March 2024: CHASM Advanced Materials partnered with Ingevity to expand NTeC-E CNT additive supply for gigafactories in North America and Europe, signaling a strategic move to localize CNT production and accelerate qualification of CNT-enabled EV batteries in European cell plants.

REPORT COVERAGE 

The market analysis provides an in-depth study of market size & forecast by all segments included in the report. It includes details on market dynamics and trends expected to drive the market during the forecast period. It offers information on the technological advancements, new product launches, key industry developments, and details on partnerships, mergers & acquisitions. The market research report also includes a detailed competitive landscape, providing information on market share and profiles of key operating players.

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Report Scope & Segmentation