Nanofiber is the term used to describe tiny strands of material that are created using various techniques. Nanofiber has been around for centuries. In the 17th century, William Gilbert observed the behavior of a fluid that was influenced by an electric field. The synthesis of nanofibers can be accomplished using three different techniques. The most widely studied technique is electrospinning, followed by self-assembly and phase separation. Electrospinning is the most popular technique for nanofiber synthesis, as it has shown promising results for tissue engineering. The development of nanofibrous scaffolds has been facilitated by the emergence of a variety of biomaterials. There are now several applications for nanofibers in tissue engineering, which are currently being studied.
Market Statistics:
The global nanofiber market was valued at US$ 785.49 Mn in 2021 and is forecast to reach a value of US$ 2210.11 Mn by 2030 at a CAGR of 17.47% between 2022 and 2030.
North America held dominant position in the global nanofiber market in 2020, accounting for 38.5% share in terms of volume, followed by Europe and Asia Pacific, respectively.
Figure 1. Global Nanofiber Market Value Share (%), By Region, 2021
Market Drivers:
Growing demand from medical and pharmaceutical industry is driving growth of the nanofiber market. In healthcare industry, nanofibers are mainly used as a tool for drug delivery systems in various diseases. Delivery of drugs in the most acceptable manner is an area of concern for the majority of researchers working in this field. The smaller size of nanofiber makes it an ideal drug carrier for delivering the drug to the appropriate site in the body. Nanofibers are effective in delivering medicines directly to internal tissues. These nanofibers can be used as bandages or sutures that ultimately dissolve into body.
Emergence of infectious disease such as Covid-19 has created demand for PPE kits, face or surgical masks, and N95 respirators. A majority of traditional N95 masks use polypropylene microfibers. Most nanofiber masks are also made of polypropylene, but electrospinning processes allow for additional benefits. This factor is propelling growth of the nanofiber market.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 785.49 Mn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 17.47% | 2030 Value Projection: | US$ 2210.11 Mn |
| Geographies covered: |
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| Companies covered: |
Applied Sciences Inc., Argonide Corporation, CHUETSU PULP & PAPER CO. LTD, Donaldson Company Inc., DuPont, Esfil Tehno AS, eSpin Technologies Inc., Hollingsworth & Vose Companym, IREMA-Filter GmbH, Japan Vilene Company Ltd, LIME, Merck KgAA, Nanofiber Solutions, NanoLayr Limited, NANOVAL GmbH & Co. KG, NIPPON PAPER INDUSTRIES CO. LTD, PARDAM s.r.o., SAPPI LTD, SNC Fibers, SPUR AS, TEIJIN LIMITED, TORAY INDUSTRIES INC., and US Global Nanospace Inc |
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Figure 2. Global Nanofiber Market Value Share (%), By Product Type, 2021
Market Restraints:
Challenges associated with the bulk production of carbon nanofibers is a prime factor expected to hinder the market growth.
High toxicity associated with the nanofiber which can have harmful effects on human health is expected to restrict the market growth.
Market Opportunities:
Growing investment in research &development activities in the field of cellulosic nanofibers is expected to bring lucrative growth opportunities over the forecast period. For instance, in May 2022, South Korea's southern province was selected to carry out a 10 billion won ($7.9 million) state project to build a research and development center for cellulose nanofiber, a nanoscale fiber material made from plant materials.
Emerging application of nanofiber in tissue engineering, medical implant devices, drug delivery systems, water & air filtration, and protective clothing is projected provide potential growth opportunities. Moreover, other factor such as ease of fabrication and low operating cost of nanofiber, it is witnessing significant demand as a building block in electronic products. Thus, this factor is propelling market growth.
Market Trends/Key Takeaways:
Growing trend of recyclable packaging material across wide range of manufacturing industries due to environmental concerns is expected to uplift the market growth. Moreover, automotive, packaging, and electrical & electronics are looking forward to adopt recyclable packaging material due to strict regulation pertaining to packaging materials. This will favour the market growth of nanofibers.
Increasing popularity of polymer nanofibers in biomedicine, nano-safety, agriculture, and energy storage sectors is projected to foster market growth. Catalyst application in chemical industry is other key factor propelling growth of the market.
Competitive Landscape:
The use of nanofibers has become increasingly popular in tissue engineering. there are three main techniques for the synthesis of nanofibers. The most widely studied technique, electrospinning, has shown the most promising tissue engineering results. Nanofibers can be synthesized from a wide range of biomaterials, resulting in a broad range of possible applications.
Market Dynamics:
Growing demand from pharmaceutical and medical industry are propelling growth of the nanofibers market growth. Moreover, emergence of Covid-19 pandemic has created high demand for face mask, PPE kits, and N95 respirators which is again fostering market growth. For instance, when the COVID-19 pandemic started, 3M announced that it would increase the global production of N95 face masks to more than 1 billion per year. In China, companies have increased their capacity of mask production facilities by 12 times. Several small startups have developed nanofibers that capture aerosol droplets better while providing additional breathability. Furthermore, emerging application in automotive, electronic, and chemical will further favor the market growth.
However, challenges associated with the bulk production of nanofibers and negative impact of Covid-19 pandemic are expected to restrict the market growth.
Key features of the study:
Detailed Segmentation:
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