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 growth in the recent five years is primarily driven by the following major factors, such as rising industrialization especially in the developing economies and the associated pollution levels. Nanofibers in the air filters can be used to reduce the harmful emissions form these industries considerably. Also, the growing importance of medical and pharmaceutical industry worldwide and the increasing applications of nanofibers in this industry is another factor driving the growth of nanofiber.
Nanofiber Market Insights
Increasing application of nanofiber in Medical Life science and Pharmaceutical (MLP) Industry in North America and Europe is driving nanofiber market
Over the years, the US, UK, Germany, and France have experienced significant demand for drugs and the trend is rapidly increasing, which is propelling the pharmaceutical companies to increase their production and sales over the years. The demand for generic drugs has more importance than the counterparts i.e. the brand name drugs owing to lower cost with same chemical composition. In 2016, according to IMS the generic drugs segment accounted for 88% of the overall volume of the pharmaceutical industry in the US, and the trend is anticipated to increase steadily. The nanofibers with their standout physiochemical and mechanical properties play a crucial role in the pharmaceutical industry and have gained popularity in North American, and European market in the recent times. Drug delivery, wound healing, barrier textiles, and tissue engineering are some of the major applications of nanofibers in the healthcare sector and are significantly driving nanofiber market.
Advancements in the Electrospinning mechanisms for nanofibers to increase throughput-
A numerous approaches and techniques have been derived for the higher throughput of nanofiber production through Electrospinning process. With the help of multiple nozzles technique as well as needleless Electrospinning, it has been observed that the production efficiency of the nanofibers increases considerably. They offer different flexibilities at the time of production and therefore can be able to produce good amounts of nanofiber and are expected to drive the nanofiber market, globally.
Nanofiber Market Strategic Insights
The partnership was observed as the most adopted strategy in Global Nanofiber Market. Few of the recent strategies by some of the players in Nanofiber Market landscape are listed below-
2018: Asahi Kasei unveiled its plan to expand capacity for Leona nylon 66 filament in Nobeoka, Miyazaki, Japan. This expansion is expected to company’s capabilities to meet the strong demand growth that is being driven by stricter safety regulations, greater vehicle production, and the use of more airbags per vehicle.
2018: DuPont unveiled its plan to build new specialty materials manufacturing facility in East China. The new facility is expected to produce compounded high-end engineering plastics and adhesives to serve customers in transportation, industrial, electronics, and consumer products markets.
2017: Toray Industries, has acquired a commercial-use land in Foshan, Guangdong Province in South China. The company acquired to start business of high-performance polypropylene spunbond. The company plans to establish a production facility with annual capacity of 20,000 tons of PP spunbond. Operations by the facility would start in 2019.
- Asahi Kasei Corporation
- Donaldson Company, Inc.
- ELMARCO s.r.o.
- ESpin Tehnologies Systems, Inc.
- Finetex EnE, Inc.
- MEMPRO Ltd.
- Revolution Fibres Ltd
- Toray Industries, Inc.