Nanofibers are ultra-thin fibers that have diameters measured in nanometers. They provide several advantages over conventional fibers such as lightweight, breathability, durability, and versatility. Nanofibers are used in a wide range of applications including filtration, energy storage, composites, textiles, biomedical, and others. In filtration applications, nanofibers are preferred due to their high surface area to volume ratio which enables superior filtration efficiency. In the textile industry, nanofibers are used to develop lightweight and breathable fabrics for sportswear, protective clothing, and medical applications. Increased demand for lightweight and breathable materials from industries such as healthcare, airlines, and automotive has been a major driver for the nanofiber market.
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.
Market key trends:
One of the key trends in the nanofiber market has been the development of new production techniques to mass produce nanofibers. Electrospinning is currently the most widely used method for lab-scale and pilot production of nanofibers. However, its low production throughput limits industrial scale applications. To address this, newer techniques such as meltblowing, centrifugal spinning, flash spinning are being developed and commercialized. These newer techniques enable higher production rates which is necessary for industrial scale production of nanofibers. It is expected that with advancements in mass production techniques, the industrial use of nanofibers will accelerate in the coming years, driving the overall market growth.
Porter’s Analysis
Threat of new entrants: Low economies of scale and high capital requirements to enter the nanofiber production business pose barriers for new companies to enter the market.
Bargaining power of buyers: Buyers have moderate bargaining power as nanofibers have limited substitutes and switching costs are high for buyers.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to vertical integration by large players and establishment of long term relationships.
Threat of new substitutes: There exists low threat from substitutes as nanofibers provide unique properties like high surface area and flexibility.
Competitive rivalry: The nanofiber market is highly competitive with the presence of global players.
Key Takeaways
The Global Nanofiber Market Growth is expected to witness high. 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 comprises: The Asia Pacific region currently dominates the nanofiber market and is expected to maintain its leading position during the forecast period due to growing demand from industries such as filtration, composite materials, and biomedical in countries like China, Japan and India.
Key players related content comprises: 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 Company, 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 prominent players in the market are focusing on business expansion through investments and new product launches.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
