time：2025-08-22 source：高工鋰電
On the evening of August 18th, Dow Technology announced that the sixth board of directors of the company has approved the proposal to change the use of some of the raised funds. The plan is to use the previously planned 300 million yuan raised for the "100000 ton/year ternary precursor project (Phase I)" to invest in the "120 ton/year single-walled carbon nanotube project".
The new fundraising project "Annual Production of 120 Tons of Single Wall Carbon nanotubes Project" is implemented by Jiangmen Haoxin New Energy Co., Ltd., a subsidiary of Dow Technology, with a total investment of 600 million yuan and an expected construction period of three years.
This move reveals that Dow Technology intends to carve up the market for single-walled carbon nanotubes.
Carbon nanotubes have excellent properties of high strength and high electrical and thermal conductivity, and their downstream applications mainly include new energy vehicles, 3C digital, and semiconductors.
Among them, single-walled carbon nanotubes have better performance and higher technical barriers. Single walled carbon nanotubes are in short supply, and currently only OCSiAl and TianNai Technology can achieve large-scale production. The former maintains a market dominant position of over 90% worldwide.
Dow Technology announced that the company has overcome the low-cost and large-scale preparation technology of single-walled carbon nanotubes, and has the ability to produce continuously, with product performance benchmarking international leaders. The company expressed confidence in achieving a production capacity of 50 tons per year in the first quarter of 2026, and completing the construction of a production capacity of 120 tons per year within the next year, in order to meet the demand for domestically produced single-walled carbon nanotubes in the downstream high-end field more quickly.
According to GGII data, in 2024, the proportion of carbon nanotube products used as conductive agents in lithium batteries in China was 18.4%, an increase of 8 percentage points year-on-year. It is expected that the total amount of carbon nanotube powder penetrating conductive agents will exceed 20% by 2025.
However, multi walled carbon nanotubes account for over 80% of the total, while single-walled carbon nanotubes are still relatively small in scale.
In 2025, the industrialization of single-walled carbon nanotubes in China will accelerate, and the production capacity of single-walled carbon nanotubes will enter a phase of increasing production.
In the fourth quarter of this year, the first 150 ton production line of Tiannai Technology's 450 ton single-walled powder project is expected to be officially put into operation.
At present, Tianna Technology has a market share of over 40% in the domestic carbon nanotube market. In 2024, the company sold 78 tons of carbon nanotube powder and 85000 tons of carbon nanotube conductive paste. Single walled carbon nanotubes and related products have begun to be shipped in bulk.
In terms of technology, Tiannai Technology has tackled the bottleneck technology of continuous macro scale preparation of carbon nanotubes, becoming one of the few companies in the world to introduce carbon nanotubes into lithium batteries in the form of slurry. At the same time, it is the first in China to master the industrial preparation technology of high-quality single-walled carbon nanotubes and achieve domestic substitution on single-walled carbon nanotubes.
OCSiAl, the world's largest supplier of single-walled carbon nanotubes, has a production capacity of over one million tons and plans to add more single-walled carbon nanotube synthesis equipment by the end of 2025.
Both major domestic cooperative manufacturers have announced plans to expand the production of single-walled carbon nanotube dispersion. Shanghai Haiyi Science and Trade Co., Ltd. announced plans to increase the overall annual production capacity of TUBALL BATT to 27000 tons; Shenyang Huijing Nano Technology Co., Ltd. has increased its production to 25000 tons.
Top enterprises take the lead in expanding production, and new entrants also bring technological breakthroughs.
Hexagonal nanotechnology has developed a unique enhanced hydrogen free safe formula process technology, and independently developed a ton scale production line for single-walled carbon nanotube powder, breaking through the bottleneck of engineering preparation technology for single-walled carbon nanotubes and the development of key equipment. Hexagonal Nanotechnology is expected to produce 3-5 tons of single-walled carbon nanotubes by 2025, with a sales revenue of approximately 200 million yuan.
In the fourth quarter of this year, the first 150 ton production line of Tiannai Technology's 450 ton single-walled powder project is expected to be officially put into operation.
At present, Tianna Technology has a market share of over 40% in the domestic carbon nanotube market. In 2024, the company sold 78 tons of carbon nanotube powder and 85000 tons of carbon nanotube conductive paste. Single walled carbon nanotubes and related products have begun to be shipped in bulk.
In terms of technology, Tiannai Technology has tackled the bottleneck technology of continuous macro scale preparation of carbon nanotubes, becoming one of the few companies in the world to introduce carbon nanotubes into lithium batteries in the form of slurry. At the same time, it is the first in China to master the industrial preparation technology of high-quality single-walled carbon nanotubes and achieve domestic substitution on single-walled carbon nanotubes.
OCSiAl, the world's largest supplier of single-walled carbon nanotubes, has a production capacity of over one million tons and plans to add more single-walled carbon nanotube synthesis equipment by the end of 2025.
Both major domestic cooperative manufacturers have announced plans to expand the production of single-walled carbon nanotube dispersion. Shanghai Haiyi Science and Trade Co., Ltd. announced plans to increase the overall annual production capacity of TUBALL BATT to 27000 tons; Shenyang Huijing Nano Technology Co., Ltd. has increased its production to 25000 tons.
Top enterprises take the lead in expanding production, and new entrants also bring technological breakthroughs.
Hexagonal nanotechnology has developed a unique enhanced hydrogen free safe formula process technology, and independently developed a ton scale production line for single-walled carbon nanotube powder, breaking through the bottleneck of engineering preparation technology for single-walled carbon nanotubes and the development of key equipment. Hexagonal Nanotechnology is expected to produce 3-5 tons of single-walled carbon nanotubes by 2025, with a sales revenue of approximately 200 million yuan.
Driven by the increasing demand for high-capacity and fast charging lithium batteries, the demand for single-walled carbon nanotubes in batteries has started to rise.
High nickel+silicon-based negative electrode+large cylinder has become the main solution to solve the high energy density of batteries. It is predicted that by 2025, the global market demand for large cylindrical batteries is expected to reach the range of 144.2 GWh to 235 GWh. The market share of domestic large cylindrical battery cells will exceed 30%, and its market size will reach between approximately 43.26 GWh and 70.5 GWh, indicating great potential for industry development.
The above-mentioned Tiannai Technology 450 ton expansion project plans to produce single-walled carbon nanotube powder that is more suitable for 4680 battery silicon-based negative electrodes.
At present, Tiannai Technology has launched three generations of products, and its fourth generation product is expected to be used in fast charging and carbon silicon negative electrodes. In 2025, Tiannai Technology aims to ship 20000 tons of single wall slurry and fourth generation mixed slurry.
The potential for explosive growth of solid-state batteries in the future cannot be ignored. The High Tech Industry Research Institute predicts that the shipment of solid-state batteries will reach 7GWh in 2024 and is expected to exceed 65GWh in 2030; By 2035, the shipment volume is expected to further expand to over 300GWh.
Dow Technology is one of the main suppliers of conductive materials for BYD's automotive batteries. The company has comprehensively laid out solid state battery core materials such as single-walled carbon nanotubes, high nickel ternary precursors, lithium rich manganese based precursors, silicon-based negative electrodes, solid electrolytes, and metal lithium negative electrodes, forming a full material solution for solid state batteries.
OCSiAl launched a single-walled carbon nanotube dispersion factory in Serbia last year. These products will be supplied to ProLogium, a solid-state battery manufacturer in Dunkirk, France, and will begin mass production in early 2027.
In the long run, the application of single-walled carbon nanotubes in lithium sulfur batteries and sodium ion batteries has also entered the research stage.
Tianna Technology supplies single-walled tube products to relevant top Korean customers for the research of lithium sulfur batteries.
The combination of single-walled nanotubes and oxygen functional groups stabilizes the electrode, effectively controls the dissolution and diffusion of lithium polysulfides, and significantly reduces the loss of sulfur in the active material. This technology not only solves the technical problems of lithium sulfur batteries, but also enables the design and prototype development of large-area, high-capacity flexible electrodes.
Compared to existing lithium-ion batteries with hourly charging capacity and thousand cycle life, all solid state lithium sulfur batteries are expected to achieve minute level fast charging and ten thousand cycle charging.
In addition, TianNai Technology also revealed that the mainstream manufacturers researching sodium ion batteries are all customers of the company, and some top customers have used the company's single-walled carbon nanotube products in their sodium battery research and development plans.
As a 'nanoscale performance amplifier', the demand for single-walled carbon nanotubes is mainly driven by lithium batteries, expanding to multiple tracks such as robot electronic skin and semiconductor packaging. The market expects the global market size of single-walled carbon nanotubes to be worth $1.37 billion by 2024. The market is expected to grow from $1.55 billion in 2025 to $3.63 billion in 2032, with a compound annual growth rate of 13.0%.
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