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The nanofiber market is estimated to grow at a CAGR of 24.99% between 2022 and 2027. The size of the market is forecast to increase by USD 5,843.43 million. The growth of the market depends on several factors, including the growing demand for renewable energy and sustainable products, the improvements in the production technology of nanofibers, and the increasing use of nanofibers in air and liquid filtration systems.
This report extensively covers market segmentation by product (polymer, carbon, glass, ceramic, and others), application (air and liquid filtration, energy, electronics, medical, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growing demand for renewable energy and sustainable products is notably driving the market growth, although factors such as production challenges may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key nanofiber market Driver
Growing demand for renewable energy and sustainable products is a key factor driving the growth of the market. Nanofibers have several potential applications in renewable energy and the manufacturing of several sustainable products. Nanofibers are widely used in manufacturing several sustainable and eco-friendly products. For instance, cellulose nanofibers can reduce the environmental impact of paper manufacturing. Adding cellulose nanofibers to paper pulp creates a paper that can be recycled more than twice as many times as regular paper. Paper is a jumbled mat of micrometer-wide cellulose fibers.
In the past few years, researchers have been interested in making paper with nanometer-wide cellulose fibers in addition to regular fibers. The high surface area of such nanofibers allows them to form more bonds with the adjacent fibers, resulting in a paper that is tougher than ordinary paper. Nanofibers can be used to produce feminine hygiene products without the use of SAP. Electrospun cellulose acetate nanofibers are used as a material for the absorbent core in feminine sanitary napkins. This material eliminates the use of harmful, non-biodegradable SAP without compromising performance while enhancing absorbency and comfort. Hence, the above-mentioned factors are expected to fuel the growth of the global nanofiber market during the forecast period.
Significant nanofiber market Trend
Growing demand for biosensors is the primary trend in the global nanofiber market growth. Biosensors are analytical devices that are used for the detection of analytes. These sensors combine a biological component and a physiochemical detector component that converts the biological response into an electrical signal. Antibodies, enzymes, or whole cells, which act as receptors with high molecular recognition properties, are coupled to microelectronics components to enable continuous monitoring of cellular metabolism. The high sensitivity and fast response of sensors are proportional to the surface area and porosity of the detection component.
Because of their large surface-to-volume ratio, the thin films made of nanofibers for use in biosensors have a larger surface area when compared with other continuous films. Nanofibers made of carbon nanotubes, conductive polymers, ceramic materials, and composites of polymer nanofibers and carbon nanotubes are widely used for assembling biosensors. Carbon nanotubes and carbon nanofibers are ideal materials for biosensor applications due to their good conductivity, biocompatibility, and large surface areas. Hence, such factors are expected to drive the growth of the global nanofiber market during the forecast period.
Major nanofiber market Challenge
Production challenges are a major challenge to the growth of the global nanofiber market. One of the major challenges in the production of nanofibers using the electrospinning process is maintaining the uniformity of the nanofibers. Also, electrospinning results in the formation of defective beads and pores in polymer nanofibers. The formation of beads depends on the concentration of the polymer; if the concentration of polymers is high, the formation of beads will be low. Thus, the varying concentrations of polymers lead to the formation of differently shaped beads, such as spherical or spindle-shaped beads. Advances in R&D, such as reducing the surface tension of the polymer solution, are aimed at producing defect-free nanofibers and will result in the production of nanofibers without beads.
However, the surface tension is linked to the solvent present in the polymer solution. Therefore, the selection of a proper solvent corresponding to the nanofiber is necessary to produce defect-free nanofibers. Various other issues also hamper the efficiency of the technologies used in nanofibers production. For instance, the electrospinning process suffers issues such as jet instability and interference, the needle getting blocked by the polymer solution, as well as the high cost of nanofiber production. Such challenges hamper the production of nanofibers and adversely impact market growth during the forecast period.
Key nanofiber market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global nanofiber market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
abalioglu.com.tr - The company offers nanofibers such as HIFYBER. Also, through this segment, the company provides mining, agriculture, energy, textiles, paper, and technology services.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the polymer segment will be significant during the forecast period. In this segment, research is being conducted worldwide to develop new fabrics from polymer nanofibers. In the medical industry, researchers developed a peptide containing nanofibers, which can prevent the growth of bacteria in the case of infections. This nanofiber-containing peptide can easily block bacteria from infecting the wound at the nano level, and hence, it is suitable for wound dressing applications. Hence, the above-mentioned factors are expected to fuel the growth of the global nanofiber market during the forecast period.
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The polymer segment was valued at USD 892.42 million in 2017 and continue to grow by 2021. Polymer nanofibers are ultra-fine fibers with very small diameters, ranging from a few nanometers to over 100 nanometers. Due to their large surface area, per unit mass, and small pore size, polymer nanofibers possess many unique properties and have the potential for use in a wide range of applications, such as composites, biomaterials, filtration, and others. The changes made to polymer structures at the nano level enhance the quality and flexibility of nanofibers, thus making them suitable for a variety of applications. Currently, polymer nanofibers are widely used in air and liquid filtration systems. Polymer nanofibers are expected to witness high demand from the textile industry. This is due to the rising demand for smart and technical textile products due to changing consumer preferences. Many consumers are tech-savvy, and smart textiles are expected to cater to their demand, which, in turn, will increase the demand for polymer nanofibers that are used in smart textiles.
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APAC is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The nanofiber market in APAC is driven by rising investments in countries such as Japan, China, and India. For instance, Nippon Paper Industries Co. Ltd. (Nippon), a leading Japanese paper manufacturing firm, offers cellulose nanofibers through its manufacturing facility in Japan. The annual production capacity at this facility is around 500 tons. Earlier, the company successfully commercialized its highly effective deodorant sheets using cellulose nanofibers made from wood pulp, which is chemically processed using the TEMPO catalytic oxidation method. Oji Holdings Corp. offers a cellulose nanofiber for a thickener called AUROVISCO. This product is made from phosphorylated cellulose nanofibers that have high transparency, high viscosity, and particle stabilizing abilities. Moreover, the easy availability of raw materials and low-cost labor is likely to drive the growth of the regional nanofiber market during the forecast period.
The market in APAC is witnessing certain challenges. The outbreak of COVID-19 negatively affected many countries in the region, including China, India, South Korea, and Japan. However, R&D and innovations in healthcare are driving the development of nanofiber-related protective equipment such as face masks and PPE kits. With the lifting of lockdowns due to the initiation of vaccination drives and the resumption of operations in end-user industries, such as consumer durables, electrical and electronics, automotive, and construction, the demand for nanofiber in these industries significantly increased, which led to an increase in the production of nanofiber in the second half of 2021. Thus, the increasing construction activities due to rapid urbanization and increasing demand for nanofiber in several end-user industries, such as automobiles and electronics, is anticipated to drive the growth of the nanofiber market in APAC during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
nanofiber market Scope |
|
Report Coverage |
Details |
Page number |
184 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 24.99% |
Market growth 2023-2027 |
USD 5,843.43 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
22.8 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 47% |
Key countries |
US, China, Japan, South Korea, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abalioglu Holding AS, Ahlstrom Munksjo, Asahi Kasei Corp., Donaldson Co. Inc., DuPont de Nemours Inc., eSpin Technologies Inc., Freudenberg SE, Grupo Antolin Irausa SA, Hollingsworth and Vose Co., Inovenso Inc., Mitsubishi Chemical Holdings Corp., NanoTechLabs Inc., Nippon Paper Industries Co. Ltd., Oji Holdings Corp., Teijin Ltd., Toray Industries Inc., US Global Nanospace Inc., Verdex Technologies Inc., Nanolayr Ltd., and Berkshire Hathaway Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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