Nanofiber Market Size (2023 - 2030)

The Global Nanofibers Market was estimated to be worth USD 915.31 Million in 2022 and is projected to reach a value of USD 4,895.94 Million by the end of 2030, growing at a fast CAGR of 23.32% during the forecast period 2023-2030.

The term "nanofiber" refers to minuscule strands of material produced by a variety of methods. Nanofiber has been used for many years. William Gilbert studied how an electric field affected a fluid's behaviour in the 17th century. The synthesis of nanofibers can be carried out using one of three methods. Electrospinning is the method that has received the most research. Self-assembly and phase separation come next. Due to its promising outcomes for tissue engineering, electrospinning is the most widely used method for creating nanofibers. The introduction of various biomaterials has made it easier to create nanofibrous scaffolds. There are now being researched several uses for nanofibers in tissue engineering.

COVID-19 Impact on Global Nanofiber Market:

Due to government-imposed lockdowns, travel bans, and business closures, COVID-19 has hurt the economies and sectors of many different countries. One of the key businesses facing significant disruptions is the chemical and materials sector. These disruptions include office closures, technology event cancellations, and supply chain interruptions. The closure of numerous facilities in North America, Europe, Asia Pacific, South America, the Middle East, and Africa has hampered the global supply chain and disrupted production processes, delivery schedules, and product sales. Several businesses have also previously foreseen potential product delivery delays and a decline in future sales of their goods.

Travel restrictions enforced by nations in Europe, Asia, and North America are impeding prospects for commercial relationships and cooperation. Other problems impeding the activities in the chemical & materials business, as well as numerous marketplaces associated with it, include a shortage of working professionals and decreased production levels as a result of social distance policies. Many nations are returning to normality at this time, while others are dealing with the second wave of the pandemic. The environment is also anticipated to change in the upcoming months as a result of vaccination programmes.

Global Nanofiber Market Drivers:

The increasing importance of the medical and pharmaceutical industry is bolstering the demand in the Global Nanofiber Market.

Nanofibers are mostly utilized as a tool for medication delivery systems in the healthcare business to treat a variety of ailments. The bulk of researchers in this sector are concerned with finding the best way to deliver medications. Nanofiber is the perfect drug carrier because of its tiny size, which allows it to carry the medicine to the right location in the body. The direct delivery of medications to inside tissues by nanofibers is effective. These nanofibers can be stitched together or used as bandages before dissolving in the body.

The outbreak of COVID-19 led to increased demand for PPE kits and masks which led to increased demand in the Global Nanofiber market.

Infectious illness outbreaks like COVID-19 have increased demand for N95 respirators, face or surgical masks, and PPE kits. Most conventional N95 masks are made with polypropylene microfibers. Although polypropylene is the material used in the majority of nanofiber masks, electrospinning techniques offer additional advantages. This reason is fuelling the market for nanofibers to grow.

Global Nanofiber Market Challenges:

The penetration of composites in a range of applications, such as sporting goods, marine, and consumer products, continues to be constrained by manufacturing and non-recurring development expenses. Consistency in design, process standardization, and maintenance technologies are the main issues. Automobile and airplane manufacturers are forced to use conservative designs due to the lack of material and process standardization, which hinders their ability to produce large quantities of these products at competitive prices. The range of applications for composite materials is further constrained by the lack of human resources with the necessary education and experience. Also more frequently utilized in organic semiconductors are nanofibers. Organic semiconductors are organic substances that have semiconducting properties. These are lightweight, affordable, and efficient. These nanofibers are made using relatively cheap manufacturing processes.

Global Nanofiber Market Opportunities:  

Expansion opportunities are anticipated to come from emerging uses of nanofiber in areas like tissue engineering, medical implant devices, drug delivery systems, water and air filtration, and protective apparel. Additionally, due to its low operating costs and ease of fabrication, the nanofiber is in high demand as a component in electrical devices. Thus, this element is fuelling market expansion.

NANOFIBER MARKET REPORT COVERAGE:

Global Nanofiber Market Segmentation: By Type

• Polymeric nanofiber

• Carbon nanofiber

• Ceramic nanofiber

• Glass nanofiber

• Others

Based on Segmentation by Type, in 2022, the carbon nanofiber category held the biggest market share. Carbon nanofibers are created by removing non-carbon components from synthetic polymers and biopolymers at extremely high temperatures. Various metals are utilized as catalysts in the floating catalyst method of producing carbon nanofibers, whether they are in powdered or support form. Thermoplastics, elastomers, thermosets, ceramics, elastomers, and metals are among the materials where carbon nanofibers can be used. They are also commonly utilized in orthopedic, dental, and tissue engineering scaffolds due to their great tensile strength and strong thermal and electrical conductivity.

Global Nanofiber Market Segmentation: By Application

• Electronics

• Mechanical Chemical & Environment (MCE)

• Energy

• Medical, Life Science, & Pharmaceutical (MLP)

• Others

Based on Segmentation by application, in 2022, the MCE (mechanical, chemical, and environment) segment led the Nanofibers market. In the same year, the segment represented more than 35% of market revenue. Due to the increased effectiveness of nanofibers in aerosol and air filtration, category growth can be attributed to this application. The chemical industry's use of catalysts is another significant factor influencing the category's growth. Other problems impeding the activities in the chemical & materials business, as well as numerous marketplaces associated with it, include a shortage of working professionals and decreased production levels as a result of social distance policies. Many nations are returning to normality at this time, while others are dealing with the second wave of the pandemic. The environment is also anticipated to change in the upcoming months as a result of vaccination programs.

Global Nanofiber Market Segmentation: By Region  

• North America  

• Europe  

• Asia Pacific  

• Middle East and Africa

• South America 

In 2022, North America accounted for a sizeable portion of the global Nanofibers market. In the years to come, the regional market expansion is anticipated to be driven by the rising need for environmentally friendly and recyclable products as well as the increased demand from end-use sectors like packaging, automotive, and electrical & electronics. In addition, it is anticipated that over the forecast period, the usage of nanotech-enabled techniques in a variety of biomedical applications, including medication transport, surgery, tissue engineering, and pharmaceuticals, would increase. On the other hand, during the course of the forecast, Europe is anticipated to experience profitable expansion in the worldwide Nanofibers market. This is mostly owing to a surge in demand for polymer nanofibers in the energy storage, biomedicine, agriculture, and nanosafety sectors across key European nations like the U.K., Italy, and Germany.

During the projected period, Asia Pacific is anticipated to see the fastest growth in the worldwide Nanofibers market. The primary drivers of the region's quickest growth are the continued R&D expenditures and the use of nanoscale materials in the electronics and medical industries. Furthermore, it is projected that rising government spending on improving healthcare infrastructure in Asia Pacific's developing countries will accelerate market expansion throughout the projection period.

Global Nanofiber Market Key Players:

1. eSpin Technologies Inc.

2. Teijin Limited

3. TORAY INDUSTRIES INC.

4. Hollingsworth and Vose Company

5. NIPPON PAPER INDUSTRIES CO. LTD.

6. FibeRio Technology Corporation

7. Ahlstrom Corporation

8. DuPont

9. Asahi Kasei

10. Donaldson Filtration Solutions

Recent Developments: 

• In April 2021 Teijin Limited created a new technology in April 2021 to generate NANOFRONT nanofibers in large quantities.

• In January 2021 The first nanofiber FFP3 respirator was created and put into production by Pardam. Nanofiber development, application, and commercial use are the main areas of concentration for Pardam.