Nanofiber Market Analysis | 2023-2028

Market Insights

The nanofiber market was estimated at USD 914.55 million in 2022 and is likely to grow at a CAGR of 17.4% during 2023-2028 to reach USD 2640.52 million in 2028.

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Market Dynamics

Introduction

Nanofibers are fibers with diameters of less than 1000 nanometers. These fibers are synthetically produced and can be tailored for different purposes. The diameters of nanofibers can vary and are determined by the type of fiber used and the method of production. These can be fabricated using various techniques such as electrospinning, magneto spinning, rotary jet spinning, force spinning, etc. These fibers are characterized by their flexibility, lightweight, high porosity, and mechanical strength.

Covid-19 Impact Analysis

The COVID-19 pandemic has moderately affected the nanofiber industry. In the medical sector, nanofibers found widespread applications in the production of N95 masks, thus boosting product demand. However, industries such as automotive and transportation, textiles, and electronics, witnessed a complete shutdown of operations, thereby negatively influencing the market growth amid the pandemic.

Market Drivers

The market is driven by a host of factors, some of which are noted below:

• Growing adoption of low-cost polymers to produce nanocomposites.
• The radical shift in consumer and product trends towards achieving sustainable and eco-friendly products augments the market.
• The robust investment in R&D and new manufacturing techniques to increase product efficiency.

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Key Players

The following are the key players operating in the global market-

• Applied Sciences Inc. (US)
• Argonide Corporation (US)
• CHUETSU PULP & PAPER CO. LTD (Japan)
• Donaldson Company Inc. (US)
• DuPont (US)
• Esfil Tehno AS (Estonia)
• eSpin Technologies Inc. (US)
• Hollingsworth & Vose Company (US)
• IREMA-Filter GmbH (Germany)
• Japan Vilene Company Ltd (Japan)

Note: The above list does not necessarily include all the top players in the market.

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Segment’s Analysis

By Product Type

The market has been classified into polymer, carbon, composite, cellulose, metallic, and others. The polymer segment accounted for the largest market in 2022 and is expected to remain the largest segment of the market during the forecast period.

Nanofiber is widely used as a gasoline additive, which is an octane booster and an anti-knocking agent in the fuel for gasoline engines. Its low cost and effectiveness further increase product penetration in gasoline additives.

Regional Insights

Asia Pacific accounted for the largest share in 2022 and is expected to grow at a robust CAGR during the review period. The market growth is mainly attributed to rapid urbanization in developing countries of China, India, and ASEAN countries; increasing foreign investments, strong water treatment industry, and rising need for clean water to cater to burgeoning population growth, further augments the market expansion.

The North American market held a substantial share in 2022 and is expected to grow at a robust CAGR during the review period.

The market growth is mainly attributed to the increasing importance of recyclable & sustainable products along with the significant growth of various end-use industries such as automotive, packaging, and electrical & electronics further bolsters the regional market growth.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s nanofiber market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The nanofiber market is segmented into the following categories.

By Product Type

• Polymer
• Carbon
• Composite
• Cellulose
• Metallic

By Application Type

• Water and Air Filtration
• Automotive and Transportation
• Textiles
• Medical
• Electronics
• Energy Storage

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia and Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and Rest of Asia-Pacific
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

Report Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case you need any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, or other requirements, please send your inquiry to sales@stratviewresearch.com.