They are used in wound dressings, filtration systems, personal protective equipment, textiles, and more. The strength and absorbency of nanofibers make them ideal for medical purposes while their filtration properties are leveraged for air and water purification.
The global Nanofiber Market is estimated to be valued at US$ 901.3 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising demand for nanofibers from the healthcare sector is one of the major factors driving the nanofiber market growth. Nanofibers are extensively utilized in wound dressings, surgical masks, dental and surgical implants, and drug delivery systems in healthcare. Their porous fibrous structure allows for high absorption and easy passage of liquids as well as gases which makes them suitable for wound care. Moreover, nanofibers help imitate the extracellular matrix (ECM) and enable faster tissue regeneration. These properties have propelled the usage of nanofibers in wound management and tissue engineering applications, thus augmenting the market expansion.
Segment Analysis
The global nanofiber market is dominated by the polymer nanofibers segment, which accounted for over 50% of the global market share in 2023. Polymer nanofibers are widely used for manufacturing filtration fabrics, protective clothing, and medical supplies due to benefits like easy availability of raw materials, biocompatibility, and mechanical stability. The carbon nanofiber segment is expected to witness highest growth during the forecast period. Rising usage of carbon nanofibers in battery materials, semiconductors, and electronics is driving the demand.
Key Takeaways
The Global Nanofiber Market Analysis is expected to witness high during the forecast period. Rapidly growing end use industries like healthcare, electronics, energy, and automotive are driving the demand for nanofibers. The global Nanofiber Market is estimated to be valued at US$ 901.3 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030.
Regional analysis
Asia Pacific currently dominates the global nanofiber market and is expected to maintain its leading position during the forecast period. Countries like China, Japan, South Korea and India are major producers as well as consumers. Presence of a robust manufacturing sector in these countries is contributing to the growth of the regional market. North America is anticipated to exhibit fastest growth through 2030 backed by heavy investments in research and development of advanced nanofiber applications.
Key players
Key players operating in the nanofiber market include Applied Sciences Inc., Argonide Corporation, CHUETSU PULP & PAPER CO. LTD, Donaldson Company Inc., DuPont, Esfil Tehno AS, eSpin Technologies Inc., Hollingsworth & Vose Company, 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. These players are focusing on new product development and capacity expansion to strengthen their presence in the market.
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