The nanofiber market comprises products such as polymer nanofiber, carbon nanofiber, glass nanofiber and ceramic nanofiber. Nanofibers offer high flexibility, porosity and energy absorption capabilities. They have applications as air and water filters, light-weight ballistic materials, scaffolds for tissue engineering and substrates for catalytic converters.
The Global Nanofiber Market is estimated to be valued at US$ 1038.3 Mn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the nanofiber market are Applied Sciences Inc., Argonide Corporation, CHUETSU PULP & PAPER CO. LTD, Donaldson Company Inc., DuPont, Esfil Tehno AS, eSpin Technologies Inc., Hollingsworth & Vose Companym, IREMA-Filter GmbH, Japan Vilene Company Ltd, LIME, Merck KgAA, Nanofiber Solutions, NanoLayr Limited, NANOVAL GmbH & Co. KG, NIPPON PAPER INDUSTRIES CO. LTD, PARDAM s.r.o., SAPPI LTD, SNC Fibers, SPUR AS, TEIJIN LIMITED, TORAY INDUSTRIES INC., and US Global Nanospace Inc.
The growing demand from healthcare industry is driving the nanofiber market. Nanofibers are increasingly used in tissue engineering applications such as wound dressing and drug delivery. They mimic the structural properties of extracellular matrix and promote cell adhesion. Various nanofiber coated surgical masks and respirators are available to prevent transmission of pathogens.
Globally, Asia Pacific region is witnessing highest demand for nanofibers on account of expansion of end-use industries such as healthcare, water treatment and energy in China and India. Various global players are establishing manufacturing facilities in Asia to capitalize on the high growth opportunities. North America and Europe are also significant markets driven by presence of major nanofiber producers and R&D spending.
Market Key Trends
Development of new production techniques to overcome limitations of existing electrospinning process is a key trend in the Nanofiber Market Demand. Newer methods such as centrifugal spinning, template synthesis and self-assembly are being researched for high-throughput and mass production of nanofibers. This would make nanofibers more affordable for commercialization across diverse applications. Ongoing nanofiber product innovation focusing on advanced filters, lightweight armor, regenerative scaffolds is further supporting the market growth.
Porter’s Analysis
Threat of new entrants: Low barrier for new companies to enter due to lack of proprietary technologies or economies of scale but saturated industry with major established brands.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitute products and fragmented demand from various end-use industries.
Bargaining power of suppliers: Suppliers have moderate bargaining power as raw materials for nanofibers like polymers are widely available.
Threat of new substitutes: threat is moderate as no direct substitute exists for nanofibers but other materials like cotton can satisfy certain applications.
Competitive rivalry: High as market is saturated with global players investing heavily in R&D and expansions to remain competitive.
Geographical Regions
North America holds the major share of nanofiber market in terms of value due to strong presence of key players and growing end-use industries in the US and Canada. The region accounted for over 35% market share in 2024.
Asia Pacific is expected to witness fastest growth during the forecast period with CAGR of around 10% till 2031. This can be attributed to growing economies, rising industrial and manufacturing activities and increasing foreign investments in countries like China and India.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.
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