Poly(methyl methacrylate) (PMMA) multi-walled carbon nanotubes (MWCNTs) nanocomposites were synthesized by several methods using both pristine and surface functionalized carbon nanotubes (CNTs). Fourier transform infrared (FTIR) spectroscopy Was used to characterize the presence and types of functional groups in functionalized MWCNTs, while the dispersion of MWCNTs in PMMA was characterized using scanning electron microscopy (SEM). The prepared nanocomposites were foamed using carbon dioxide (CO2) as the foaming agent. The cell morphology was observed by SEM, and the cell size and cell density were calculated via image analysis. It was found that both the synthesis methods and CNTs surface functionalization affect the MWCNTs dispersion in the polymer matrix, which in turn profoundly influences the cell nucleation mechanism and cell morphology. The MWCNTs are efficient heterogeneous nucleation agents leading to increased cell density at low particle concentrations. A mixed mode of nucleation mechanism was observed in nanocomposite foams in which polymer rich and particle rich region co-exist due to insufficient particle dispersion. This leads to a bimodal cell size distribution. Uniform dispersion of MWCNTs can be achieved via synergistic combination of improving synthesis methodology and CNTs surface functionalization. Foams from these nanocomposites exhibit single modal cell size distribution and remarkably increased cell density and reduced cell size. An increase in cell density of similar to 70 times and reduction of cell size of similar to 80% was observed in nanocomposite foam with 1% MWCNTs. Published by Elsevier Ltd.