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

The Europe 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.
• Germany 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.

Germany to Dominate the Market

• Manufacturing is the most important sector in Germany, and accounts for around 79% of the total industrial production. The biggest segments within manufacturing are machinery and equipment, automotive, basic metals and fabricated metal products, computers, and electronic and electrical equipment.
• The German electronic industry is Europe’s biggest and the fifth-largest industry, worldwide. The electrical and electronics industry accounted for 11% of the total German industrial production and about 3% of the country’s gross domestic product (GDP).
• The German aerospace industry comprises more than 2,300 firms located all around the country, with northern Germany being the area with a higher concentration of firms.
• Germany, being one of the leading manufacturing bases for the aircraft industry, is home to manufacturers from different segments, such as equipment manufacturers, material and component suppliers, engine producers, and whole system integrators.
• The country hosts a large number of production bases for aircraft interior components, MRO (maintenance, repair, and overhaul), and lightweight construction and materials, largely in Bavaria, Bremen, Baden-Württemberg, and Mecklenburg-Vorpommern.
• 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 Europe nanofiber market is partially consolidated in nature. The major companies include Mitsubishi Chemical Corporation, Hollingsworth & Vose, and TORAY INDUSTRIES, INC., among others.

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