Nanofibers Global Market Report 2024

The nanofibers market size has grown rapidly in recent years. It will grow from $1.72 billion in 2023 to $1.96 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The growth in the historic period can be attributed to growing demand from pharmaceutical and medical industry, increased use of nanofibers in the electronics segment, new applications of nanofibers in agriculture.

The nanofibers market size is expected to see rapid growth in the next few years. It will grow to $3.04 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to increasing utilization in flexible and stretchable electronics, increasing potential use of nanofibers in food applications, increasing production of carbon nanofibers from biomass and biomass blends. Major trends in the forecast period include advance research and development and growing market for cellulosic nanofibers, product innovations, growing trend of recyclable packaging materials, collaborations, investments.

The increasing demand for electronics is poised to drive the growth of the nanofibers market in the foreseeable future. Electronics, encompassing the study, design, and application of devices and systems involving controlled electron flow, is a pivotal field where nanofibers play a crucial role. Nanofibers, known for their versatility, contribute significantly to the advancement of electronic technologies, enabling the development of smaller, more efficient, and multifunctional electronic devices. According to the Bureau of Economic Analysis in June 2023, the electronic products manufacturing industry in the United States witnessed a 5.7% increase in 2021 compared to the previous year. This surge in electronics demand is a key driver propelling the growth of the nanofibers market.

Prominent companies in the nanofiber market are actively investing in innovative technologies, with a particular focus on recyclable packaging materials to address environmental concerns and promote sustainability. Recyclable packaging materials, capable of being reused and recycled, contribute to environmental sustainability by facilitating recovery and reprocessing into new products. Mondi Plc, a UK-based multinational packaging and paper group, exemplifies this commitment by introducing BarrierPack Recyclable in March 2022. This recyclable packaging material utilizes nanofiber technology, offering sustainable packaging solutions. The structure of BarrierPack Recyclable is made of PP or PE monomaterial, achieving certification as recyclable with an AAA rating (>95%). The packaging is not only lighter and stronger than PET or PE but also provides high oxygen and moisture barriers, suitable for diverse product applications. Mondi's emphasis on recyclable and sustainable packaging aligns with its position as a leading producer of sustainable packaging solutions.

In January 2021, Gentex Corporation, a US-based electronics and technology company, acquired Vaporsens for $10.5 million. This acquisition is anticipated to accelerate the growth of nanofiber sensing technology, capable of detecting a wide range of chemicals, from explosives to volatile organic compounds. Vaporsens, a US-based nanotechnology company specializing in nanofibers, brings expertise that aligns with Gentex Corporation's objectives in advancing nanofiber applications, particularly in sensing technologies with broad applications across various industries.

Major companies operating in the nanofibers market report are Espin Technologies Inc., Hollingsworth & Vose, Nippon Paper Industries Co. Ltd., Teijin Ltd., Toray Industries Inc., Argonide Corp., Chuetsu Pulp & Paper Co. Ltd., Donaldson Co. Inc., Lime, Spur A.S., Abalioglu Holding A.S., Acs Material, Asahi Kasei Corp., Inmed Llc., Nxtnano, Showa Denko K.K., Up Catalyst, Applied Sciences Inc, DuPont Esfil, Tehno ASAS, IREMA-Filter GmbH, Japan Vilene Company Ltd., Merck KGAA, Nanofiber Solutions, NanoLayr Limited, Nanoval GmbH & Co. KG, Pardam s.r.o, Sappi Ltd, SNC Fibers.

North America was the largest region in the nanofibers market in 2023. The regions covered in the nanofibers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the nanofibers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The nanofibers market consists of sales of silica nanofibers, and organic nanofibers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Nanofibers are ultrafine fibers characterized by diameters within the nanometer range, typically ranging from 1 nm to 1 μm. These fibers can be derived from a variety of polymers, encompassing both natural and synthetic materials, and showcase distinctive physical properties. Notably, nanofibers exhibit a substantial surface area-to-volume ratio, high porosity, and remarkable mechanical strength.

Nanofibers are categorized into several main product types, including carbon nanofiber, ceramic nanofibers, composite nanofiber, polymeric nanofiber, carbohydrate-based nanofiber, and metallic/metal oxides. Ceramic nanofibers, a specific type within this classification, exhibit distinct properties such as a high surface area-to-volume ratio, exceptional porosity, and impressive mechanical and thermal characteristics. Various technologies are employed in the production of nanofibers, including magnet spinning, force spinning, rotary jet spinning, and others. These nanofibers find applications across diverse industries, such as water and air filtration, automotive and transportation, textiles, medical, electronics, and energy storage. Additionally, they are utilized by different end-users, including those in mechanical, chemical and environmental fields, medical, life sciences, pharmaceuticals, electronics, and other sectors.

The nanofibers market research report is one of a series of new reports that provides nanofibers market statistics, including nanofibers industry global market size, regional shares, competitors with a nanofibers market share, detailed nanofibers market segments, market trends and opportunities, and any further data you may need to thrive in the nanofibers industry. This nanofibers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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