by Nanofibers are fibers having diameter in nanometers. They are formed by electrospinning where high voltage is applied to a polymer solution, resulting in fibers deposited on a collector. Nanofibers find applications in filtration, healthcare, apparel, homeland security, aerospace, and construction. In the medical field, nanofibers are used to manufacture wound dressings, surgical masks, medical textiles, tissue engineering scaffolds and drug delivery systems due to their properties like high surface area to volume ratio and small pore size.
The global nanofiber market is estimated to be valued at US$ 901.3 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The global nanofiber market is driven by increasing applications of nanofibers in the medical sector. Nanofibers can mimic the structural and functional properties of natural extracellular matrices to facilitate cell adhesion, growth, and differentiation for tissue engineering applications. They are widely used in wound dressings and drug delivery systems due to their ability to protect wounds from external contaminants and provide controlled release of drugs. Nanofiber wound dressings can easily wick away excess fluid from wounds and provide a moist environment for faster healing. With rising cases of chronic diseases, there is a growing demand for advanced drug delivery systems, which is fueling market growth.
Market Dynamics:
The market is expected to be flourished by growing demand from medical applications. Nanofiber mats are used in producing advanced wound dressings and tissue engineering scaffolds. Compared to traditional wound dressings, nanofiber based dressings can effectively absorb exudate from wounds and maintain a moist environment necessary for healing. They also act as a protective barrier against external contamination. In tissue engineering, nanofibrous scaffolds mimic the structural cues of natural extracellular matrices and facilitate cell attachment, proliferation and differentiation. Such scaffolds find applications in bone, skin and cartilage regeneration. Their high surface area to volume ratio allows for efficient nutrient transfer and metabolic waste removal, making them suitable for culture of various cell types. Thus increasing use of nanofibers in advanced medical products is supporting market growth over the forecast period. Additionally, effective attributes of nanofiber in filtration applications is also contributing in market growth. Nanofibers can filter particles in submicron and micron range very efficiently due to small fiber diameter and high surface area.
Segment Analysis
The Global Nanofiber Market Size is segmented into type and application. Based on type, the market is categorized into polymer nanofibers, carbon nanofibers and inorganic nanofibers. Polymer nanofibers dominate the overall market and are expected to maintain their dominance over the forecast period, owing to growing usage of polymer nanofibers in various end use industries such as water filtration, automotive, protective clothing and biomedical.
PEST Analysis
Political: Governments across regions are supporting nanotechnology and nanofiber research through funding which is expected to drive the demand.
Economic: Rising disposable income and changing lifestyle is positively impacting the demand from end use industries.
Social: Increasing health awareness is augmenting the demand for nanofiber applications in medical industry.
Technological: Advancements in nanofiber production technologies such as electrospinning is enabling mass production of nanofibers with desired properties. This is supporting the market growth.
Key Takeaways
The global nanofiber market is expected to witness high growth over the forecast period owing to increasing usage across various end use industries. The global nanofiber market is estimated to be valued at US$ 901.3 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030.
Regional analysis – Asia Pacific region dominates the overall market and is expected to remain the fastest growing market during the forecast period. China dominates the Asia Pacific nanofiber market owing to presence of leading nanofiber producers.
Key players operating in the nanofiber market are Applied Sciences Inc., Argonide Corporation, DU Pont, Esfil Tehno AS, eSpin Technologies Inc., Hollingsworth & Vose Company, IREMA-Filter GmbH, NIPPON PAPER INDUSTRIES CO. LTD, TEIJIN LIMITED, and TORAY INDUSTRIES INC. TORAY INDUSTRIES INC. is a prominent player offering wide range of nanofibers used in air and water filters, protective clothing, lithium-ion batteries and biomedical applications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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