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| Global Nanofiber Market Growth |
Nanofibers have received increasing attention owing to
their wide range of applications in areas such as filters, biomedical, and
textiles due to their extremely small diameters and high surface area to volume
ratio. The increasing usage of nanofibers in air and liquid filter applications
to provide superior filtration will drive the demand for nanofibers in the
forecast period.
The global nanofiber market is estimated to be valued at US$ 1038.3 Mn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period
of 2024 to 2030.
Key players operating in the nanofiber market are Applied Sciences Inc.,
Argonide Corporation, CHUETSU PULP & PAPER CO. LTD, Donaldson Company Inc.,
DuPont, Esfil Tehno AS, eSpin Technologies Inc., Hollingsworth & Vose
Companym, IREMA-Filter GmbH, Japan Vilene Company ltd, lime, merck kgaa,
nanofiber solutions, nanolayr limited, nanoval gmbh & co. kg, nippon paper
industries co. ltd, pardam s.r.o., sappi ltd, snc fibers, spur as, teijin
limited, toray industries inc., and US Global Nanospace Inc. The key players
are focusing on product innovation and new product development to cater to the
increasing demand from end use industries.
The Global
Nanofiber Market Growth provides numerous opportunities for market
players in the areas of water filtration, tissue engineering, protective
clothing, and energy storage. With growing investments and R&D in
nanotechnology, the usage of nanofibers is anticipated to grow multifold in
automotive, aerospace, and biomedical industries across regions. Key players
are expanding their footprint in newer geographies such as Asia Pacific and
Latin America for business expansion and market penetration.
Market drivers and restrain:
The wide range of applications of nanofibers across various end use industries
such as water filtration, biomedical, protective clothing, energy storage etc.
is a key driver for the nanofiber market growth. Nanofibers provide superior
properties such as lightweight, high porosity, and high surface area which
expands its usage in various applications. However, high production cost of
nanofibers and availability of alternative filtration techniques can hamper the
market growth.
The growing demand for nanofiber based filter media from water filtration and
air purification industries is projected to drive the nanofiber market. Rising
concerns regarding environmental pollution and need to curb air and water
contamination will propel the product demand. However, availability of
alternative filtration techniques can restrain the market growth.
Segment Analysis
The nanofiber market is dominated by the industrial sector subsegment which is
expected to occupy over 65% of the market share during the forecast period. Nanofibers
are widely used in industries like textiles, healthcare and life sciences,
electronics and air filters owing to their high surface area to volume ratio
and small diameters. Within the industrial sector, the air filtration
subsegment led the nanofibers market in 2020 and is expected to continue its
dominance till 2030. This is because nanofiber air filters are highly effective
in capturing ultrafine pollutants like virus, bacteria and PM2.5 particles from
industrial emissions and ventilation systems. The healthcare and life science
subsegment is anticipated to be the fastest growing segment during the forecast
timeframe due to increasing demand for nanofiber wound dressings, implants and
tissue engineering scaffolds.
Global Analysis
In terms of region, Asia Pacific dominated the overall nanofiber market in 2020
with over 35% revenue share. Rapid industrialization and strong presence of key
manufacturers in countries such as China, Japan and South Korea have been the
driving factors. North America is expected to grow at the fastest rate during
the forecast period owing to rising research funding and applications in water
filters, protective textiles, and medical devices industry in the United
States. Europe is another major market for nanofibers, spurred by strict
regulations on industrial emissions, technological advancements and demand from
protective clothing manufacturers in Germany. Key players are focusing on
capacity expansion plans and product portfolio expansion strategies in Asia
Pacific and South America region to tap the high market potential for
nanofibers over the coming years.
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