Global Nanofiber Market to 2025 - Analysis and Forecasts by Top Leading Players Toray Industries, eSpin Technologies, ELMARCO, Revolution Fibres, Ahlstrom-Munksjö, Donaldson Company, Asahi Kasei, , Finetex EnE, MEMPRO
Global nanofiber market is expected to grow from US$ 1,263.6 Mn in 2017 to US$ 7,238.3 Mn by 2025 at a CAGR of 25.03% between 2018 and 2025.
The key players operating in the nanofiber market include MEMPRO Ltd., Toray Industries, Inc., eSpin Technologies, ELMARCO s.r.o., Revolution Fibres Ltd., Ahlstrom-Munksjö, Donaldson Company, Inc., Asahi Kasei Corporation, Finetex EnE, Inc., and Dupont.
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Nanofiber market is experiencing a high growth throughout the globe, driven by trend observed in drug consumption in Canada and Mexico, it is rapidly increasing and propelling pharmaceutical companies to raise the level of their production and sales over the years. In addition to this, many pharmaceutical companies based out of US and overseas, are looking ahead to establish their production facilities in Canada and Mexico, which is also boosting the demand of nanofibers in the healthcare sector in these two regions. Hence, a high growth is observed in the pharmaceutical industries at a global scale majorly in North America, which is a key factor bolstering the growth of the market for nanofibers. The trend is expected to remain the same in the years to come. These factors are anticipated to drive the nanofiber market during the forecast period.
The report focuses on an in-depth segmentation of nanofiber market based on tire material and application. The geographic segmentation of the report covers five major regions including; North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SA). The regional market has been further bifurcated by respective countries. By geography, North America is accountable to hold the largest share in the nanofiber market in 2017, whereas Asia Pacific is projected to grow at the highest CAGR during the forecast period.
North America is one of the prominent regions in the nanofiber market which is contributing highest revenue globally due to an increase in the number of pharmaceutical and healthcare industries. Nanofibers with their standout physiochemical and mechanical properties hold a distinctive position in varied pharmaceutical industries and have gained popularity in North American and European countries over the period of time. The high molecular loading capacity of nanofibers are appropriate for biological sensing and drug delivery applications. Drug delivery, tissue engineering, wound healing, and barrier textiles among others are some of the main applications of nanofibers in the healthcare industry.
Moreover, biopolymers are preferably used for nanofiber manufacturing in the healthcare sector owing to the fact of biodegradable properties. Furthermore, in this respect, varied research works are taken out throughout the globe to match up with the demand of nanofibers in a healthcare and pharmaceutical sectors. Thus, the rising emphasis on these sectors in the advanced regions of North America and Europe coupled with an advanced emphasis on nanofibers for these applications, the market for nanofibers is expected to flourish in the coming years.
Also, various other initiatives are proposed by the players to enhance the nanofiber market through product launch, acquisition, and many others. For instance, in 2018, Donaldson Company, Inc. acquired BOFA International LTD. The acquisition of BOFA supports well with the company’s strategy by growing its industrial air filtration business and expanding its company through technology-led filtration solutions.
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