Carbon Nanotube is the ultimate nanomaterial with extraordinary mechanical properties. It can be metallic or semiconducting, has superior thermal properties, can be single wall or Multi wall (SWNT or MWNT) type and has carbon-carbon covalent bonds with hexagonal structure. Carbon nanotubes are considered to be among the strongest and stiffest materials in nature. The extraordinary mechanical properties of carbon nanotubes (CN) render them an ideal reinforcing nanofiber for lightweight ultrastrong and stiff composite materials. However the issues connected with the seamless and inert chemical structure of CN which remain unresolved are that they are insoluble in both organic and aqueous solvents which makes their purification, dispersion and processing highly problematic and that they exhibit low interfacial bonding with the polymer matrix resulting in poor interfacial stress-transfer during deformation.