NEW YORK, Sept. 17, 2020 /PRNewswire/ -- The Nanofibers Market is projected to reach USD 3.10 Billion by 2027, according to a new report by Reports and Data. Nanomaterial technological advances, coupled with high demand for inexpensive raw materials such as polymeric nanofibers in various end-use applications, are expected to drive growth over the forecast period. Increasing demand for smart textiles, filtration, tissue engineering & regeneration, wound healing, drug delivery, and biosensors enabled by nanotechnology is expected to steer nanofibers market penetration in the medical sector in the coming years.
In emerging economies, increasing population and industrialization, coupled with rapid urbanization and stringent environmental regulations applicable to various industries, is likely to drive the demand for the nanofibers market.
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The demand for nanofibers is expected to rise globally over the coming years due to the wide range of nanotechnology applications, low raw material costs, a shift toward achieving sustainable, and environment-friendly products. High initial costs and limited technological awareness of these devices, however, hold back market growth.
COVID-19 Impact Analysis
The COVID-19 pandemic had a direct effect on the development rates of nanofibers, as all the industrial units were disrupted. Besides, the disruptions in existing supply chains forced companies to build new supply chains that are more costly and time-consuming to satisfy the need for catalysts in different areas of the chemical industry. The use of nanofibers in the medical sector is rising, and thus the demand is still high.
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Further key findings from the report suggest
- The healthcare and biomedical industries are the most significant contributors to the growing global demand for nanofibers.
- Due to the rising demand for Nanofibers in the energy generation industry, the energy generation application segment is projected to grow to mitigate maintenance losses.
- Applications like delivery of drugs, wound healing, tissue engineering, and textile barriers employ nanofibers services on an extensive scale in the healthcare and biomedical industries. Nanofibers membrane made from biopolymers is widely used as a bioactive material or drug carrier in drug delivery applications.
- The growing R&D and high-potential demand for cellulosic nanofibers are likely to give opportunities to the market in the forecast period.
- The leading players aim to strengthen their product portfolio through strategic mergers and acquisitions of small and medium-sized enterprises. So an intense rivalry among players is expected in the coming years.
- Key participants include Berkshire Hathaway Inc., Ahlstrom-Munksj, Argonide Corp., Clearbridge NanoMedics, DuPont, Esfil Tehno AS, FibeRio Technology Corp., Irema-Filter GmbH, and Mitsubishi Rayon Co. Ltd, among others.
For the purpose of this report, Reports and Data has segmented into the Global Nanofibers Market on the basis of product type, technology, application, and region:
Product Type Outlook (Revenue, USD Million; 2017-2027)
Technology Outlook (Revenue, USD Million; 2017-2027)
- Force Spinning
- Magneto spinning
- Rotatory Jet Spinning
- Electro Spinning
Application Outlook (Revenue, USD Million; 2017-2027)
- Air and Water
Regional Outlook (Revenue: USD Million; 2017-2027)
- North America
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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