Nanofiber Market Report

Market Insights

The Nanofiber Market is estimated to grow from USD 16.9 billion in 2020 to USD 22.8 billion by 2026 at a healthy CAGR of 5.2% during the forecast period.

Figure: Nanofiber Market Size, 2020-2026 (USD Billion)

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What is Nanofiber?

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 is determined by the type of fiber used and the method of production. These can be fabricated using various techniques such as electro spinning, 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 medical sector, nanofibers found widespread applications in production of N95 masks, thus boosted the product demand. However, industries such as automotive and transportation, textiles, and electronics, witnessed complete shutdown of operations, thereby negatively influenced the market growth amid the pandemic.

Key Players

Key players operating in the global Nanofiber Market are-

• 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)

Market Dynamics

The Nanofiber market is majorly propelled by growing adoption of low-cost polymers to produce nanocomposites. Also, radical shift in consumer and product trends towards achieving sustainable and eco-friendly products augments the market growth in the coming years. In addition to this, robust investment in R&D and new manufacturing techniques to increase the product efficiency further bolsters the industry growth during the review period.

Segment’s Analysis

Product Trends

Based on product, the nanofiber market has been classified into polymer, carbon, composite, cellulose, metallic, and others. The polymer segment accounted for the largest market in 2020. 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 increases the product penetration in gasoline additives.

Regional Trends

By region, the Asia Pacific Nanofiber market accounted for the largest share in 2020 and is expected to grow at a robust CAGR during the review period. The Nanofiber 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 burgeoning population growth, further augments the market expansion.

The North American Nanofiber market held a substantial share in 2020 and is expected to grow at a robust CAGR during the review period. The Nanofiber market growth is mainly attributed to 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.

Critical Questions Answered in the Report

This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global nanofiber market. The historic years considered for the study are 2016-2019, base year is 2020, estimated year is 2021, and forecast period is 2022-2026. Following are the critical questions answered in the report.

• What are the key trends in the global nanofiber market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of COVID-19 on global nanofiber market?
• What are the key strategies adopted by the major vendors to lead in the global nanofiber market?
• What is the market share of the top vendors?

Target Audience

The target audience of Nanofiber Market includes-

• Nanofiber Vendors
• Nanofiber Manufacturers
• Nanofiber Distributors
• Organizations
• Government Bodies.

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