A recent
report published by Infinium Global Research on the nanofibers market provides an in-depth analysis of segments and sub-segments in the global as well as
regional nanofibers market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional nanofibers market
over the short term as well as long term. The report is a comprehensive
presentation of trends, forecasts, and dollar values of the global nanofibers market.
According to the report, the global nanofibers market is projected to grow at a
CAGR of 21% over the forecast period of 2022-2028. The revenue generated by the
market was approximately USD 1.3 billion in 2022 and is expected to reach
approximately USD 4 billion in 2028.
Nanofibers
are defined as fibers with diameters of less than 1000 nanometres. As
nanotechnology is evolving, its application in various industries is also
increasing. The use of nanocomposites in the products improves their physical
properties. Nanofibers are nanocomposites which are having excellent mechanical
and chemical characteristics. Nanofibers have found their application in
various end-use industries including healthcare, aerospace and defense,
electronics, automotive, and others. The nanofibers market is as new as any
other nanocomposite market. Moreover, the increases in the adoption of low-cost
polymers in production are expanding the demand for the nanofibers market. The
polymer nanofibers are having lower production costs and are used in several
applications. Furthermore, the shift in consumer preference for sustainable and
eco-friendly products is supporting the growth of the nanofibers market. The
rapid pace of industrialization, growing commercialization of nanofibers
products with increasing industrial applications, continuous efforts in
technological innovations, and rise in R&D investments are among the
significant factors contributing to the nanofibers market growth.
During the
Covid-19, pandemic people were compelled to stay in their homes. The
governments of many countries in the world turned their focus to healthcare
from other industries. This significantly disrupted their supply chain
operations and manufacturing as lockdowns were imposed by the respective
governments. Manufacturing facilities were all shut down due to the pandemic in
almost every country across the globe. Due to the pandemic, several industries
including biodegradable polymers were adversely negatively affected. Logistical
restrictions, manpower shortage, material unavailability, and other
restrictions had reduced the growth of the industry. The pandemic has affected
the normal production of companies. The COVID-19 pandemic has created
instability in the nanofibers market across the globe. However, the market is
now estimated to have reached pre-pandemic levels and is expected to grow
steadily during the forecast period.
The
increasing demand for nanofibers from various end-users is majorly driving the
nanofibers market. The nanofibers have found their application in a number of
industries including healthcare, aerospace and defense, electronics,
automotive, and others owing to their superior mechanical and chemical
properties. Moreover, the increase in the adoption of low-cost polymers in
production is expanding the demand for nanofibers. The polymer nanofibers are
having lower production costs and are used in several applications.
Furthermore, the shift in consumer preference for sustainable and eco-friendly
products is supporting the growth of the nanofibers market. However, the lack
of scalability of carbon nanofibers due to the complex manufacturing procedure
and expensive instrumentation is the major restraining factor for the growth of
the nanofibers market. Nevertheless, the growing investment in R&D for new
manufacturing techniques is expected to offer lucrative opportunities for the
key players in the nanofibers market.
The report
provides a regional outlook covering geographies such as North America, Europe,
Asia-Pacific, and the Rest of the World. Asia-Pacific holds the command over
the market globally. In Asia-Pacific China shares the largest market share as
it’s the largest economy, in terms of GDP. Asia-Pacific dominates the global
market share. The increasing demand from industries like healthcare, aerospace
and defense, energy, and automotive has been driving the market’s growth. The
Chinese healthcare industry holds the second position globally, as the US holds
the first position. China, the largest manufacturing hub, is experiencing a
rise in the country’s labor costs owing to the aging population. This has
resulted in the shift in focus of manufacturing companies to Southeast Asian
countries. The improving infrastructure, rising domestic consumption, and lower
operating costs are among the factors attracting international manufacturing
companies to these countries. The development of a manufacturing hub boosts the
demand for the nanofibers market that can be used in a diverse range of applications.
The report
on the global nanofibers market covers segments such as product type and end-user.
On the basis of product type, the sub-markets include carbon nanofibers,
composite nanofibers, metal and metal oxide nanofibers, polymeric nanofibers,
ceramic nanofibers, and others. On the basis of end-user, the sub-markets
include healthcare, energy and power, textiles, automotive, aerospace and
defense, chemical, and others.
The report
provides profiles of the companies in the market such as eSpin Technologies
Inc., Teijin Limited, Donaldson Company, Inc., Nanofibers Solution LLC, DuPont,
Toray Industries, Inc., Elmarco S.R.O., Revolution Fibers Ltd, Asahi Kasei
Corporation, and Ahlstrom-Munksjo.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors driving and restraining this market's growth. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the nanofibers market. Moreover, the study highlights current market trends and provides forecasts for 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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