The global nanofibers market size is expected to reach USD 2.89 billion by 2024, expanding at a CAGR of 25.2%, according to a new report by Grand View Research, Inc. Technological advancements in the field of nanomaterials, coupled with increasing demand for materials such as carbon, glass, ceramic, and polymeric in various end-use segments, are expected to drive growth over the forecast period. Surging demand for nanotechnology-enabled smart textiles, filtration, tissue engineering & regeneration, wound healing, drug delivery, and biosensors is expected to steer nanofibers market penetration in the medical sector over the next few years.
However,
stringent guidelines and standards for manufacturing, handling, and sales of
nanomaterials by international agencies such as ISO, NIST, and Nanomaterials
Registry may hamper market growth. The nanofibers industry growth may further
be restrained by regulations pertaining to the toxicity of metal and
carbon-based nanoparticles.
Nanoscale
polymer fibers dominated the global demand accounting for 49.2% of total market
volume in 2015. Large-scale application of these materials in high-efficiency
air filters coupled with increasing usage in medical devices and drug delivery
systems especially in the mature economies can be attributed to high penetration.
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Further key
findings from the report suggest:
- The global nanofibers market
demand was 1,008 tons in 2015 and is expected to reach 8,886 tons by 2024,
growing at a CAGR of 27.7% from 2016 to 2024
- The global composite
nanoscale materials accounted for 12.5% of the total market in 2015 and
are anticipated to reach a net worth of USD 373.6 million by 2024.
Increasing R&D investments to develop innovative production
technologies and adhere to the stringent regulatory framework to steer
segment growth.
- Cellulose nanofibers are
estimated to witness the fastest growth over the next eight years. The
segment demand in the U.S. is estimated to grow at a CAGR of 29.6% from
2016 to 2024.
- Electronics segment is anticipated
to emerge as fastest growing end-use segment and is estimated to reach a
net worth of USD 293.1 million by 2024
- Asia Pacific is expected to
emerge as the fastest growing regional market on account of significant
product demand in China, Japan, India, and other South-East Asian
countries. China nanofibers demand in the energy sector is anticipated to
reach 154.4 tons by 2024 at a CAGR of 28% from 2016 to 2024.
- Key industry participants in
the market include Donaldson, Elmarco, DuPont, Revolution Fibres, FibeRio,
Ahlstrom, Toray, Asahi Kasei, Johns Manville, Jiangxi Xian Cai Nanofibers
Technology, Johns Pyrograf Products, eSpin, and MemPro
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Grand View Research has segmented
the global nanofibers market on the basis of product, end-use, and region:
Nanofibers Product
Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2024)
- Polymer
- Carbon
- Cellulose
- Composite
- Metallic
- Others
Nanofibers End-Use
Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2024)
- Electronics
- Mechanical, chemical, and
environmental (MCE)
- Energy
- Medical, life science, and
pharmaceutical (MLP)
- Others
Nanofibers Regional
Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2024)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Asia Pacific
- China
- India
- Japan
- Middle East & Africa
- Central & South America
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
