North America Nanofiber Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The North America nanofiber market is estimated to witness a significant growth, at an estimated CAGR of around 20%, over the forecast period. Major factor driving the market studied is the growing commercialization due to increasing end-user applications. On the flipside, the lack of sensitive instrumentation to calibrate properties of nanofibers is expected to hinder the growth of the market studied.

• The healthcare and biomedical segment dominated the market, and is likely to grow during the forecast period, owing to the growing application in the field of medical, pharmaceuticals, and life science and the increasing investments in the healthcare industry.
• Increasing R&D and high-potential market for cellulosic nanofibers are likely to act as an opportunity in the future.
• United States accounted for the largest market share and is expected to continue domination during the forecast period.

Key Market Trends

Healthcare and Biomedical Segment to Dominate the Market Demand

• The healthcare and biomedical industry is the largest contributor to the growing demand of nanofibers, across the region.
• Applications, such as drug delivery, wound healing, tissue engineering, and barrier textile employs services of nanofibers on a wide scale in the healthcare and biomedical industry.
• In drug delivery applications, nanofiber membrane from biopolymers is widely used as a bioactive material or drug carrier.
• Nanofiber layers produced from biopolymers (chitosan, gelatin, collagen, polycaprolactone, etc., or combinations of these materials) can also be used as a wound dressing for significant support of the wound healing process.
• These materials also act as possible substrates for growing cells. Nanofibers also act as an effective barrier for microorganism penetration (viruses, bacteria, and molds).
• Hence, all such market trends are expected to drive nanofibers demand for medical applications in the region during the forecast period.

United States to Dominate the Market

• The United States electronics market is the largest market in the world in terms of size. Furthermore, it is expected to remain the leading market over the forecast period, due to the usage of advanced technology, an increase in the number of R&D centers, and rising demand from the consumers.
• There is a significant demand for newer and faster electronic products due to the rapid pace of innovation, advancement of technology, and R&D activities in the electronics industry. There is a significant increase in the number of manufacturing plants and development centers in the United States, primarily due to the focus on developing high-end products.
• The healthcare sector in the United States is by far one of the most advanced sectors in the country. At this rate, the healthcare spending in the country will be approx. 20% of the entire GDP by 2027.
• According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is expected to reach 8,270 in 2037, owing to the growth in air cargo. Also, the US mainliner carrier fleet is expected to grow at a rate of 54 aircrafts per year due to the existing fleet getting older. Strong exports of aerospace components to countries, such as France, China, and Germany, along with robust consumer spending in the United States are driving the manufacturing activities in the aerospace industry.
• Due to all such factors, the market for nanofiber in the country is expected to have a steady growth during the forecast period.

Competitive Landscape

The North America nanofiber market is partially consolidated in nature. The major companies include Mitsubishi Chemical Corporation, Hollingsworth & Vose, eSpin Technologies, and TORAY INDUSTRIES, INC., among others.

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