Nanofibers Market

Nanofibers Market: By Product, Application, and Region

Market Synopsis

Global Nanofibers market is valued at USD 1556.25 Million in 2022 and is projected to reach a value of USD 8983.25 Million by 2030 at a CAGR of 24.50% over the forecast period.

The increased adoption of low-cost polymers coupled with the shift in product and consumer trends are the key factors for the Nanofibers growth. The increased demand for nanofiber across industry verticals such as medical, electronics, energy, and others is another key factor for the market growth. In addition, the increased technological advancements and enhanced mechanical strength of nanofibers are some other major growth factors.

The increased research & developments (R&Ds) and high-potential market for cellulosic nanofibers are some key opportunities in the global Nanofibers market. Moreover, the increased demand for nanofibers across emerging nations such as India, China, Brazil, Indonesia, and others are presumed to contribute to the growth of the Nanofibers market over the upcoming years. However, the high toxicity of nanofibers for direct human consumption is one of the major restraints in the global Nanofibers market.

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Polymer Nanofibers had a major share in Nanofibers Market

In 2021, the polymer nanofibers category led the global Nanofibers market and had more than 30% of the market revenue share in the same year. The low cost of natural and synthetic polymers along with the ease of access are the major factors for category dominance. The versatile compatibility of polymer nanofibers with the electrospinning technique are estimated to boost the category growth in the years to come. Besides, Cellulose nanofibers are projected to witness the fastest growth over the forecast period. The rising preference for environment-friendly products has made manufacturers use sustainable strategies for their manufacturing techniques. This is expected to steer bio-based nanomaterial demand over the forecast period. The outstanding mechanical properties along with easy access to a wide range of plants is anticipated to play a major role in increasing the demand for micro-fibrillated cellulose during the projected period

Mechanical, Chemical & Environment (MCE) was the leader in the Nanofibers

The mechanical, chemical & environment (MCE) category dominated the Nanofibers market in 2021. The category accounted for more than 35% of the market revenue share in the same year. The category growth can be attributed to the filtration application due to the improved efficiency of nanofibers in aerosol and air filtration. The other major factor contributing to the category growth include catalyst applications in the chemical industry.

Besides, the electronics category is anticipated to emerge as the fastest-growing end-use category over the forecast period. This is primarily owing to the ease of fabrication and low operating costs; nanofibers have witnessed substantial prominence as a building block in electronic products. The increased use of electrospinning method for synthesizing polymer nanofibers along with the deployment of the electrospinning technique for the development of optically inert products with enhanced mechanical strength are other major factors for the growth of the electronics category during the forecast period.

Asia Pacific Nanofibers Market to Grow at the Fastest CAGR

North America had a significant share in the global Nanofibers market in 2021. The rising demand for sustainable and recyclable products along with the increased demand from end-use industries such as packaging, automotive, and electrical & electronics is expected to drive the regional market growth in the years to come. Moreover, the growing use of nanotech-enabled procedures across several biomedical applications, such as drug delivery, surgery, tissue engineering, and pharmaceuticals, is presumed to propel the demand for Nanofibers over the forecast period. However, Europe is estimated to witness lucrative growth in the global Nanofibers market over the forecast period. This is majorly due to increased demand for polymer Nanofibers in nano-safety, agriculture, biomedicine, and energy storage sectors across major European countries such as the U.K., Italy, Germany, and France.

Asia Pacific is presumed to witness the fastest growth in the global Nanofibers during the forecast period. The ongoing R&D investments and growing nanoscale material use across medical and electronics sectors are the major factors for regional fastest growth. Moreover, the increased government investments for the enhancement of healthcare facilities across emerging nations of Asia Pacific is further anticipated to enhance the market growth over the forecast period.