Graphite Nanofiber Market Size (2023 - 2030)

The Graphite Nanofiber Market was valued at USD 1.83 billion in 2021 and is projected to reach USD 11.12 billion by 2030. The market is anticipated to expand at a CAGR of 25.3% over the forecast period.

INDUSTRY OVERVIEW

Nanofibers are fibres with a diameter between 50 and 1000 nm. Nanofibers are mostly used in medicines and textiles. During the anticipated period, the market expansion is anticipated to be driven by nanofibers' eco-friendly and bio-based composition. Additionally, it is projected that customer demand for recyclable goods would propel the nanofiber industry toward lucrative expansion. These fibres increase filtering effectiveness while just slightly reducing permeability. One of the key drivers of the growth of the nanofiber market is the speed at which industrialization is occurring, as well as the increasing commercialization of nanofiber products with rising industrial applications, ongoing technical innovation initiatives, and rising R&D expenditures.

The main drivers of the market growth rate include variables like rising chemical output, rising filtering technology demand, rising need for pharmaceutical, medical, and life science sectors, and expanding usage of nanofibers in the textile industry. Numerous uses of nanotechnology and public preference for environmentally friendly and sustainable goods are two factors that are anticipated to restrain market expansion. Additionally, it is anticipated that the cheap cost of raw materials and rising demand from the aerospace and automotive sectors will moderate the expansion of the entire market. The market for nanofibers is anticipated to have growth barriers due to factors like high beginning costs and little technical expertise in these systems. Additionally, it is anticipated that the difficulty in transferring carbon nanofibers from a lab-scale to a plant-scale setting due to their tiny size and complexity would restrain the market's expansion throughout the time of forecasting. Numerous possibilities are predicted to arise for the industry as a result of the increasing investment in R&D and new production processes. On the other hand, the limited number of end-use sectors with rigorous regulatory regulations for nanofibers and the low utilisation of these nanofibers relative to the use of conventional N95 masks are anticipated to provide significant challenges to the growth of the nanofibers market.

COVID-19 IMPACT ON THE GRAPHITE NANOFIBER MARKET

The COVID-19 lockdown without a doubt greatly impacted textile operations and output, which in turn led to a reduction in the global textile supply and demand chain, impacting the market. Studies reveal that the COVID-19 pandemic significantly reduced textile manufacturing in 2020 as a result of a shortage of operations in several nations throughout the world. The COVID-19 epidemic has, however, raised demand for medical textile fibres globally. For instance, the ongoing manufacturing of medical textile fibres was greatly facilitated by the growing need for surgical masks, which served as the main form of protection throughout the epidemic. Leading importers of COVID-19-critical goods, including PPE kits, face masks, and other medical supplies, saw a considerable increase in imports in 2020 compared to 2019—including 62% in France and 52% in Italy. In face masks, PPE kits, and respirators, nanofibers are the main component of the filter materials because of their outstanding air filtering capabilities. As a result, it is anticipated that the growing demand for surgical masks, PPE kits, and respirators will raise the number of nanofibers needed to produce them, signalling a steady recovery of the market in the years to come.

MARKET DRIVERS: 

The increasing demand from the water treatment industry is most likely to drive the market growth

Due to its exceptional filtering capabilities, graphite nanofiber is largely employed in the fabrication of filter media and filter membrane systems used in water treatment facilities, which has resulted in a sharp rise in demand for the material. For example, Veolia Water Technologies started construction on a new wastewater treatment facility in Genoa, Italy, in April 2021. In 2023, the new plant is slated to commence operating. Similarly, Kuwait's Ministry of Public Works (MPW) stated in January 2022 that the construction of a new wastewater treatment facility will take place in Al Mutlaa, Kuwait. The facility's construction is slated to start in the second quarter of 2022 and should be finished by the fourth quarter of 2025. As a result, it is anticipated that demand for the nanofibers needed to produce the filter media and membrane systems utilised in these facilities would rise as a result of this new advancement in wastewater treatment facilities. This is anticipated to hasten the market's expansion in the following years.

The rise in demand from the medical industry is most likely to propel the market growth  

Nanofibers with characteristics like high porosity, improved drug solubility, superior mechanical strength, flexibility, and versatile surface functionalization are used in surgically implanted materials in the medical industry. These include polysaccharides, polycaprolactone, collagen, cellulose, and polyurethane nanofibers. Furthermore, during the past several years, there has been a sharp rise in the usage of biomedical textiles comprised of nanofibers to repair or replace injured body components. Nanofiber-based biomedical textiles are mostly employed in vascular grafts, artificial joints, and artificial arteries. As obesity is becoming a more widespread problem among the general population in the US, more than 1 million hernia surgeries are carried out there each year, according to the US Food and Drug Administration (FDA). Similarly, according to the National Institutes of Health, gallstones in the bile duct often affect 10–15 per cent of the US population. Additionally, it mentions that more than 5 million Americans typically suffer from cardiac illnesses associated with valves each year. Due to the prevalence of these disorders in the general population and the need for complex medical equipment, including the usage of biomedical textiles made of nanofibers, the market for these products is estimated to rise in the future years.

MARKET RESTRAINTS:

Environmental worries related to the danger of nanoproducts might limit industry expansion

Nano pollution is typically associated with the usage of nanofibers. The trash or byproducts produced during the production of nanomaterials are what cause nano pollution. Nanomaterial manufacturing can produce wastes and residues that can wind up in landfills and damage water and air systems. The development of nanotechnology, especially nanofibers, is seen to be an increasing environmental problem because it is yet unclear how extensive the effects of nanoparticle pollution will be. Additionally, extended inhaling of nanoparticles during their production process may result in cardiac issues as well as lung irritation. Therefore, harsh rules could one day be implemented against makers of nanofibers due to the environmental and health risks related to the manufacturing of nanomaterials.

This might limit the development of the industry growth.

The lack of skilled workers is a major concern which may hamper the market growth

The field of nanofibers is very specialized and requires a highly skilled workforce. The design synthesis and testing of the graphite nanofibers require specific manufacturing facilities and skilled human resources. The dearth of skilled labourers in the sector is a major concern in the industry that may negatively impact market growth.

Graphite Nanofiber Market Report Coverage:

This research report on the Graphite Nanofiber Market has been segmented and sub-segmented based on Synthesis Process, By Application, Industry and By Region.

GRAPHITE NANOFIBER MARKET – BY SYNTHESIS PROCESS

• Electrospinning
• Self-assembly
• Phase Separation
• Others

Based on the synthesis process, the graphite nanofiber market is segmented into Electrospinning, Self-assembly and Phase Separation among others. Among these, electrospinning is the most widely used technique in the manufacturing of graphite nanofibers. New production methods include melt-blown technology, force spinning, rotary jet spinning, magneto spinning, and force spinning have all been made possible by recent technical developments. The most popular method for manufacturing the product in bulk is electrospinning. A lot of money is being invested in R&D to create new production technologies by businesses including RevolutionFibres, FibeRio, Donaldson, Finetex EnE, Sigma Aldrich, Elmarco, and Nanopareil.

Technology innovation has therefore been a key driver of industry expansion. Companies in high-value industries including aerospace, automotive, military, solar energy, and fuel cells now have more prospects because of their improved mechanical strength. Manufacturing a wide range of goods using composite nanoscale fibres is anticipated to spur industry innovation and increase its uptake in the textile and automotive industries.

GRAPHITE NANOFIBER MARKET - BY APPLICATION

• Electronics
• Mechanical
• Energy
• Drug Delivery
• Lithium-air Battery
• Optical Sensors
• Water & Air Filtration
• Oil-Water Separation
• Textile Fiber
• Electrodes
• Others

Based on the applications, the graphite nanofiber market is segmented into Electronics, Mechanical, Energy, Drug Delivery, Lithium-air Battery, Optical Sensors, Water & Air Filtration, Oil-Water Separation, Textile Fiber, Electrodes and others. In 2021, the MCE (Mechanical, Chemical and Energy) sector dominated the market and accounted for 48% of total sales. Due to the increased effectiveness of nanofibers in air and aerosol filtration throughout the predicted period, this rise may be ascribed to the filtration application. Catalyst uses in the chemical sector are another element boosting the segment's growth. Over the projected period, it is predicted that the end-use category for electronics would expand the quickest. By 2030, it is predicted that this market would have a net worth of more than USD 2390 million. Nanofibers have gained a lot of popularity as a component in electronic goods due to their simplicity in the manufacture and cheap running costs. Polymer nanofibers are mostly created using the electrospinning technique. Utilizing electrospinning to create optically inert goods with increased mechanical strength is also anticipated to drive industry expansion. The energy demand is also projected to increase due to growing environmental concerns about energy conservation.

GRAPHITE NANOFIBER MARKET - BY INDUSTRY

• Medical
• Textile
• Automotive
• Electrical & Electronics
• Aerospace & Defense
• Water Treatment
• Others

Based on the industries, the graphite nanofiber market is segmented into Medical, Textile, Automotive, Electrical & Electronics, Aerospace & Defense and Water Treatment among others. Due to a rise in the need for wastewater treatment throughout the world, the water treatment sector had the highest share of the global graphite nanofiber market in 2021 and is predicted to expand at a CAGR of 32.2 per cent from 2023 - 2030. For instance, the Environmental Information System (ENVIS) reported that in 2020, India's total capacity for water treatment reached 36,668 MLD, compared to the country's entire municipal wastewater output of up to 72,368 MLD. Similarly, as per the University of Michigan - Center for Sustainable Systems, California recycled over 1.5 million acre-feet of water annually in 2020, and by the end of 2030, it is anticipated to reach up to 2.5 million acre-feet annually. Additionally, Acciona declared its intentions to construct a water treatment facility in the Mexican municipality of Los Cabos in May 2021. The project has an about USD 159 million budget. The water treatment capacity for the project is predicted to be 250 litres per second or 7,884,000 cubic metres annually. By 2023, the new building should be operational. Due to their superior filtration capabilities, graphite nanofibers are frequently employed in the filter media and membrane systems of these wastewater treatment plants. As a result, it is anticipated that an increase in the construction of such wastewater treatment facilities to satisfy the rising need for wastewater treatment throughout the world would enhance demand for graphite nanofibers and fuel market expansion during the projected period.

GRAPHITE NANOFIBER MARKET - BY REGION

• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East
• Africa

By region, the Graphite Nanofiber Market is grouped into North America, Europe, Asia Pacific, Latin America, The Middle East and Africa. In terms of value, North American nanofibers dominated the worldwide market and are projected to grow at a CAGR of 25.5 per cent from 2023 - 2030. The regional nanofibers market is predicted to be driven by the increasing importance of recyclable and sustainable goods as well as the fast expansion of the major end-use sectors including packaging, automotive, and electrical & electronics. The demand is also projected to increase throughout the forecast period as a result of the expanding usage of nanotechnology-enabled techniques in several biomedical applications, including surgery, medication delivery, tissue engineering, and pharmaceuticals. In 2021, Europe ranked as the second-largest regional market. Due to the significant demand for polymer nanofibers in these nations' nano-safety, biomedical, agricultural, and energy storage sectors, major European markets include the U.K., Germany, Italy, and France. The fastest increase is anticipated in the Asia Pacific, with a CAGR of 28.3% throughout the projection period. Regional development is anticipated to be accelerated by ongoing R&D expenditures and the usage of nanoscale materials in the electronics and medical industries.

GRAPHITE NANOFIBER MARKET - BY COMPANIES

Some of the major players operating in the Graphite Nanofiber Market market include:

1. DUPONT

2. DONALDSON COMPANY, INC.

3. ELMARCO

4. ABALOLU HOLDING INC.

5. NANOTECHLABS, INC.

6. KURARAY CO., LTD.

7. CLEARBRIDGE NANOMEDICS PTE LTD.

8. MITSUBISHI CHEMICAL CORPORATION

9. ESPIN TECHNOLOGIES

10. NIPPON PAPER INDUSTRIES CO., LTD.

11. Others

NOTABLE HAPPENING IN THE GRAPHITE NANOFIBER MARKET

• ACQUISITION- In January 2021, Gentex Corporation purchased a new nanofiber sensing technology that has a wide variety of potential uses. The new technology can identify a wide range of compounds, including dangerous industrial chemicals, VOCs, explosives, narcotics, and more.
• INVESTMENT- Lenzing Group committed around GBP 20 million (USD 27.5 million) in July 2021 to construct a new wastewater treatment facility at its UK location in Grimsby. By the end of 2022, the corporation wants to cut wastewater emissions nationwide, and this investment is a part of that objective.
• PRODUCT LAUNCH- A unique nanomaterial that satisfies the criteria needed for the manufacture of medical face masks during the COVID-19 pandemic was introduced by SPUR AS in February 2020. The viral filtering effectiveness of this material is great, ranging from 70% to 95%.