Existing single-walled carbon nanotube synthesis methods are not easily scalable, operate under severe conditions, and involve high capital and operating costs. The current cost of SWNT is exceedingly high. A catalytic method of synthesis has been developed that has shown potential advantages over the existing methods. This method is based on a catalyst formulation that inhibits the formation of undesired forms of carbon; it can be scaled-up and may result in lower production costs.