Nanotextiles Market to Witness Rise in Revenues During the Period 2024
The global market for nanotextiles should grow from $5.1 billion in 2019 to $14.8 billion by 2024 at a compound annual growth rate (CAGR) of 23.6% for the period of 2019-2024.
Report Scope:
This report provides an updated review of nanotextile technology, including materials and production processes, and identifies current and emerging applications for this technology.
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MGA Research delineates the current market status for these products, defines trends, and presents growth forecasts for the next five years. The market is analyzed based on the following segments: nanotextile type, functionality, nanostructured material, application, and region. In addition, technological issues, including key events and the latest developments, are discussed.
More specifically, the market analysis conducted by MGA Research for this report is divided into five sections.
In the first section, an introduction to the topic and a historical review of nanotextiles are provided, including an outline of recent events. In this section, current and emerging applications are also identified and grouped in segments (apparel, technical, household, and other consumer products).
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The second section provides a technological review of nanotextiles. This section offers a detailed description of materials used for production of nanofabrics, properties of nanotextiles, and typical fabrication methods. This section concludes with an analysis of the most important technological developments since 2016, including examples of significant patents recently issued or applied for. The chapter ends with a highlight of the most active research organizations operating in this field and their activities.
The third section entails a global market analysis for nanotextiles. Global revenues (sales data in millions of dollars) are presented for each segment (nanotextile type, functionality, nanostructured material, application, and region), with actual data referring to the years 2017 and 2018 and estimates for 2019. Dollar figures refer to sales of these products at the manufacturing level.
The analysis of current revenues for nanotextiles is followed by a detailed presentation of market growth trends, based on industry growth, technological trends, and regional trends. The third section concludes by providing projected revenues for nanotextiles within each segment, together with forecast compound annual growth rates (CAGRs) for the period 2019 through 2024. Projected and forecast revenue values are in constant U.S. dollars, unadjusted for inflation.
In the fourth section of the study, which covers global industry structure, the report offers a list of the leading manufacturers of nanotextiles, together with a description of their products. The analysis includes a description of the geographical distribution of these firms and an evaluation of other key industry players. Detailed company profiles of the top players are also provided.
The fifth and final section includes an analysis of recently issued U.S. patents, with a summary of patents related to nanotextile materials, fabrication methods, and applications. Patent analysis is performed by region, country, assignee, patent category, application, and material type.
Report Includes:
- 55 data tables and 29 additional tables
- Detailed overview and industry analysis of nanotextiles and their global market
- Analyses of global market trends with data from 2017, 2018, estimates for 2019 and projections of compound annual growth rates (CAGRs) through 2024
- Segmentation of the global nanotextiles market by product type, fabrication technology, application, end use industry and geographical region
- Identification of the fastest-growing applications and technologies, and a holistic overview of the current and future market trends which will lead to increasing demand for nanotextiles production
- An extensive U.S. analysis of recently issued patents, with a summary of patents related to various types of nanotextiles and their fabrication methods and applications
- Description of the geographical distribution of manufacturers and detailed company profiles of the top industry players including Donaldson, eSpin Technologies, Finetex EnE, Nano-Textile and Parker Hannifin
Summary
Nanotextiles are a class of textiles that utilize nanotechnology during their fabrication process. In particular, the term nanotextiles applies to four categories of products: nanocoated textiles, fabrics consisting of nanofiber webs, textiles obtained from composite fibers based on nanostructures, and nanoporous textiles.
Although the origin of nanotechnology can be traced back to the 4th century, the first nanotextiles were only introduced during the 1980s in the form of nanofiber-based membranes for filtration. During the past 40 years, sales of nanotextiles have expanded steadily and are currently experiencing very strong growth, due to their increasing use in the fabrication of mass-market products within a range of sectors. This study provides an updated, comprehensive description of nanotextiles and their characteristics, highlighting the latest developments in their fabrication technology and features. It also offers a detailed market analysis for these products by segment (nanotextile type, functionality, nanostructured material, application, and region), describing technical aspects and trends that will affect future growth of this market.
As shown in the Summary Table, the global market for nanotextiles increased from nearly REDACTED in 2017 to REDACTED in 2018 and is estimated to be valued at REDACTED in 2019.
MGA Research has divided all the applications where nanotextiles have current and potential use in two main groups: consumer products and technical products.
Consumer products, which include mainly apparel and household articles, currently account for the largest share of the market, at an estimated REDACTED of the total in 2019, corresponding to REDACTED in 2019. Within this segment, nanotextiles are being used primarily for the fabrication of high-performance outerwear and stocking. Sales of these products have risen at a very healthy CAGR of REDACTED during the 2017-2019 period.
By comparison, nanofabrics for technical products represent a share of REDACTED of the total, corresponding to estimated 2019 revenues of REDACTED. This segment has been expanding at a REDACTED CAGR since 2017, mainly driven by applications in the mechanical/chemical/environmental, life science, and energy sectors.
Sales of nanotextiles are projected to continue rising at a double-digit rate during the next five years. Relevant factors that will contribute to market expansion through 2024 are the following -
- Increasing penetration in large industry sectors such as apparel, filtration and separation, catalysis, biomedical, energy, and automotive.
- Greater utilization in the fabrication of products characterized by strong demand, such as membranes, photocatalysts, and tissue engineering scaffolds.
- Growing market penetration of nanotextiles in developing countries.
- Increasing use of these products in wearable electronics and wearable medical devices.
- High levels of related R&D activities.
As a result, the total market for nanotextiles is forecast to rise at a CAGR of REDACTED from 2019 to 2024, reaching global revenues of REDACTED in 2024.
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