The Global Nanofiber market accounted for US$ 1,263.6 Mn in 2017 and is expected to grow at a CAGR of 25.0% during the forecast period 2017 – 2025, to account for US$ 7,238.3 Mn in 2025.
Nanofiber market operates in a highly fragmented industry with large number of local players capturing market place. Key players in the market are collaborating with other providers of nanofiber to gain high market share. Some of the key players operating in the nanofiber market Ahlstrom-Munksjö, Asahi Kasei Corporation, Donaldson Company, Inc., DuPont, Finetex EnE, Inc., Revolution Fibres Ltd, Toray Industries, Inc., ESpin Tehnologies Systems, Inc., ELMARCO s.r.o., and MEMPRO Ltd.among others.
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Growing support from Government for carrying research & development on nanotechnology to generate opportunities for the players in the market
Japanese manufacturers and organizations have invested significant amounts in deriving the best uses for CNF and putting them to practical uses. Its potential uses in the automotive and the construction industry to replace steel has attracted players from different ecosystem to come together and carry on research and development activity. Automotive component manufacturers such as Denso, automotive manufacturer Toyota, and Kyoto University have joined together to focus on the CNF. Such technological steps would ensure a gradual development phase for the nanofiber market in the region.
The academic studies and the research activities on the one-dimensional are treading at an exponential space. Nanofibers have attracted huge deal of attention by the researchers and the Governments worldwide on account of remarkable properties they exhibit as well as growing environmental concerns for usage of biodegradable products. As nanoparticles have gained importance over the years, and witnessed their integrations into a wide range of applications, Governments have investing huge amounts in the research as well as translation into commercialization of these nanofibers for end-users. With the breadth of potential applications of nanotechnology, majority of the advanced countries around the globe have prioritized research on the nanotechnology. Switzerland, the US, and Japan lead the innovations as well as research funding among the members of the Organization for Economic Co-operation and Development (OECD). Further, the European Union (EU) has encouraged its members to embrace smart research and commercialization strategies for nanotechnology.
The global nanofiber market has been segmented into three types namely by type, by application and by five geographic regions. The market has been segmented on the basis of type into five major segment including polymer nanofiber, carbon nanofiber, ceramic nanofiber, composite nanofiber and glass nanofiber. Further the application segment is broken down by consumer, electronics, industrial (air filtration), defense and security, energy, life science & pharmaceutical, chemical & environmental, and other. Geographically the market is presently dominated by developed regions including, North America. However, the market is expected to be in favor of APAC. The rising penetration of nanofiber in industrial filtration and electronics application are proving to be the major drivers for the growth in the adoption of nanofiber market.
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The report segments the global nanofiber market as follows:
Global Nanofiber Market – By Material
Global Nanofiber Market – By Application
Defense & Security
Medical, Life Science & Pharmaceutical
Chemical & Environmental