The nanofiber market will register a CAGR of over 28% by 2023

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Jun 18, 2019, 17:07 ET

NEW YORK, June 18, 2019 /PRNewswire/ -- About this market

The increasing demand for nanofibers has led to the development of new technologies or the updating of old technologies used in nanofiber production. Currently, the most extensively researched method for manufacturing nanofibers is electrospinning. The electrospinning technique has evolved from the extremely slow-spinning single jet into multiple jets. FibeRio technology came out with forcespinning technology, which used centrifugal force as the main principle rather than the electrostatic field. Other advances in nanofiber production technology include solution blow spinning and megnetospinning. Thus, the improvements in production technology of nanofibers will drive the growth of the nanofiber market Our analysts have predicted that the nanofiber market will register a CAGR of over 28% by 2023.

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Market Overview

Increasing the use of nanofibers in air and liquid filtration systems

Nanofibers are usually applied as a coating on filtration substrates to increase the filtration capacity. The physical characteristics of nanofibers, especially the extensive interconnection and high specific surface area, do not allow the passage of bacteria, viruses, and dust particles. In liquid filtration applications, nanofibers are used to filter water, drinks/beverages, blood, chemicals, petrol, and oil. Nanofibers have unique physical properties such as high porosity, interconnected structure of pores, and design flexibility. The use of nanofiber substrates leads to an initial rise in efficiency, lower pressure drops, and high energy savings when compared with other commercial filtration systems that use standard substrates.

Rising environmental concerns due to the toxicity of nano products
Nanopollution refers to the byproducts or waste produced during the manufacturing of nanoscopic devices and materials. If these byproducts end up in landfills, they can contaminate the air and water systems and can pollute them. Along with the growth of nanotechnology, nano pollution is also a growing concern among many environmentalists as the impact of this pollution still cannot be determined. Nanoparticles with small diameters can easily penetrate human cells and cause drastic changes in the molecular and DNA levels. Thus, these dangers could lead to strict regulatory action being taken against nanofiber manufacturers in the future, which could impact the market adversely.

For the detailed list of factors that will drive and challenge the growth of the nanofiber market during 2019-2023, view our report.

Competitive Landscape

The market appears to be moderately fragmented. The presence of several companies, including Asahi Kasei Corp. and Donaldson Co. Inc. makes the competitive environment quite intense. Factors such as the improvements in production technology of nanofibers and the growing demand for renewable energy and sustainable products will provide considerable growth opportunities to the nanofiber companies. DowDuPont Inc., Elmarco sro, eSpin Technologies Inc., and Finetex EnE Inc. are some of the major companies covered in this report.

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