Nanofibers Market Size, Share & Trends Report

Nanofibers Market Size, Share & Trends Analysis Report By Product (Polymer, Carbon, Composite, Cellulose, Metallic), By Application (Electronics, MCE, Energy, MLP), By Region, And Segment Forecasts, 2017 - 2024

  • Published Date: Sep, 2016
  • Base Year for Estimate: 2015
  • Report ID: GVR-1-68038-059-0
  • Format: Electronic (PDF)
  • Historical Data: 2013-2015
  • Number of Pages: 99

Industry Insights

The global nanofibers market size was estimated at USD 477.7 million in 2016 and is expected to register a CAGR of 25.2% over the forecast period. Increasing adoption of low-cost polymers to produce nanocomposites has contributed to significant market growth. Moreover, the shift in consumer and product trends is anticipated to drive the product demand.

Polymeric nanofibers have a high demand owing to the requirement of inexpensive raw materials and the efficiency of electrospinning technology for mass production of these products. In addition, its mechanical properties and compatibility with biomedical devices have contributed to its significant penetration in Medical, Life Science, And Pharmaceutical (MLP) sectors.

U.S nanofibers market

Recent advancements in technological aspects have led to new manufacturing techniques, such as magneto spinning, force spinning, rotary jet spinning, phase separation, and melt-blown technology. Electrospinning is the most widely used technique for mass production of the product. Companies, such as RevolutionFibres, FibeRio, Donaldson, Finetex EnE, Sigma Aldrich, Elmarco, and Nanopareil, are making heavy R&D investments for the development of new manufacturing technologies.

Thus, technological innovation is a significant factor that has steered industry growth. Its enhanced mechanical strength has increased its opportunities for companies in high-value sectors including aerospace, automotive, defense, solar energy, and fuel cells. Fabrication of a broad range of products from composite nanoscale fibers is expected to drive innovation in the industry and thus enhancing its penetration in automotive and textiles market

Product Insights

Polymer nanofibers emerged as the dominant product segment in 2016. Ease of access and low cost of various natural and synthetic polymers are some of the factors that resulted in high demand. Versatile compatibility of these products with electrospinning technique will boost its demand further.

Major applications, such as tissue engineering, drug delivery systems, medical implant devices, water & air filtration, and protective clothing, have contributed to significant penetration of polymer products in the industry. Carbon nanofibers segment accounted for over 17% of total market share in 2016. It is expected to register a CAGR of 24.8% over the forecast period.

Cellulose nanofibers are expected to emerge as the fastest-growing category over the forecast period. Rising preference for eco-friendly products has made manufacturers to use sustainable strategies in their manufacturing techniques. This is expected to steer bio-based nanomaterial demand over the forecast period.

The segment is anticipated to reach a net worth of USD 2.89 billion by 2024. Excellent mechanical properties coupled with ease of access to a huge range of plants is expected to play a major role in augmenting the demand for micro-fibrillated cellulose over the projected period.

Application Insights

The product has applications in several end-use segments, such as electronics; Mechanical, Chemical, & Environmental (MCE); energy; and MLP. The MCE segment led the market in 2016 accounting for 38% of the overall revenue share. This growth can be attributed to the filtration application owing to the enhanced efficiency of nanofibers in air and aerosol filtration in the forecast period. The other factor contributing to the segment growth include catalyst applications in the chemical industry.

Electronics is anticipated to emerge as the fastest-growing end-use segment over the forecast period. This segment is estimated to reach a net worth exceeding USD 290 million by 2024. Owing to the ease of fabrication and low operating costs, nanofibers have witnessed significant prominence as a building block in electronic products.

Global nanofibers market

Electros pining method is majorly used for synthesizing polymer nanofibers. Deploying the electrospinning technique for developing optically inert products with enhanced mechanical strength is further expected to steer the industry growth. In addition, increased environmental concerns regarding energy conservation are anticipated to propel the demand in energy segment.

Regional Insights

On the basis of region, global is segmented into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Central & South America (CSA). North America nanofibers led the global market, in terms of value, and is anticipated to expand at a CAGR of 25.5% from 2017 to 2024. Rising importance of recyclable and sustainable products coupled with rapid growth of the key end-use industries including packaging, automotive, and electrical & electronics is anticipated to drive the regional market.

In addition, growing use of nanotech-enabled procedures in several biomedical applications, such as surgery, drug delivery, tissue engineering, and pharmaceuticals, is anticipated to propel the demand over the forecast period.

Europe was the second-largest regional market in 2016. Major European markets include U.K., Germany, Italy, and France on account of high demand for polymer nanofibers in nano-safety, biomedicine, agriculture, and energy storage sectors of these countries. Asia Pacific is expected to witness the fastest growth at a CAGR of 28.3% over the forecast period. Ongoing R&D investments coupled withgrowing nanoscale material use in medical and electronics sectors are expected to impel regional development.

Nanofibers Market Share Insights

The market is highly fragmented with the presence of a number of small- and large-scale companies. Some of the key industry participants include FibeRio Technology Corporation, Toray Industries, Ahlstrom Corp., Revolution Fibres, Donaldson, Elmarco, and Johns Manville Corp.

Major strategies adopted by key companies include capacity expansion and long-term strategic partnerships with end-user companies to enhance their industry position. DuPont; Asahi Kasei; Jiangxi Xian Cai Nanofibers Technology; Johns Pyrograf Products, Inc.; and MemPro are several other companies in the market.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2015

Forecast period

2017 - 2024

Market representation

Volume in Tons, Revenue in USD Million, and CAGR from 2016 to 2024

Regional scope

North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America

Country scope

U.S., Canada, Germany, France, U.K., China, India, and Japan

Report coverage

Volume and revenue forecast, competitive landscape, growth factors and trends

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