Global Nanofibers Market to Grow at 21% CAGR by 2024 | IMARC Group

According to the latest report by IMARC Group, titled "Nanofibers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", the global nanofibers market size is experiencing robust growth. Nanofibers are fibers with a diameter of 100 nanometers or less. These fibrous structures are extremely light in weight and have controllable pore structures. They are also characterized by high surface-to-volume ratio, mechanical strength and flexibility in functionalization, which makes them extremely versatile. As a result, they are utilized across a vast array of industries in varied applications, including air filtration, optical sensors, cancer diagnostics, energy storage, tissue engineering, lithium-air batteries and protective clothing. Some of the most common methods utilized to produce these nanofibers include drawing, phase separation, electrospinning, self-assembly and force spinning.

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Global Nanofibers Market Trends:

Significant growth in the healthcare sector is primarily driving the growth of the market. These fibers are widely utilized across the industry to capture individual cancer cells, which circulate in the bloodstream. In addition to this, the high surface area to volume ratio in confluence with the microporous structure of electrospun nanofibers favors cell adhesion, proliferation, migration, and differentiation. Consequently, they are employed to stimulate the production of cartilage in damaged joints and numerous tissue engineering applications. Electrospun variants can also load drugs within or on the surface of the fibers to be used for efficient drug delivery applications with a timed programmed release. They are also extensively used for the manufacturing of surgical masks and gloves. Additionally, these synthetic fibers are utilized in the textile industry for the production of heat- and water-resistant fabrics. Furthermore, these fibers are being used in lithium-ion batteries to improve their electronic and ionic conductivity, which is expected to create a positive outlook for the market. Other factors contributing to the market growth include rising demand for biosensors and increasing usage of these fibers in the paints and coatings industry. On account of the aforementioned factors, the market is projected to grow at a CAGR of around 21% during 2019-2024.

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Key Market Segmentation:

Market Breakup by Product:

1. Carbon Nanofibers
2. Ceramic Nanofibers
3. Composite Nanofibers
4. Glass Nanofibers
5. Metallic Nanofibers
6. Polymeric Nanofibers
7. Others

On the basis of the product, the market has been divided into carbon, ceramic, composite, glass, metallic, polymeric and other types of nanofibers.

Market Breakup by Technology:

1. Magneto Spinning
2. Electro Spinning
3. Force Spinning
4. Rotary Jet Spinning
5. Others

Based on the technology, the market has been categorized into magneto, electro, force, rotary jet and other spinning.

Market Breakup by Application:

1. Electronics
2. Healthcare and Biotechnology
3. Aerospace and Defence
4. Automotive
5. Chemicals
6. Energy and Power
7. Others

On the basis of the application, the market has been classified into electronics, healthcare and biotechnology, aerospace and defense, automotive, chemicals, energy and power and others.

Market Breakup by Region:

1. North America
2. Europe
3. Asia Pacific
4. Middle East and Africa
5. Latin America

On the geographical front, the market has been segregated into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Competitive Landscape:

The competitive landscape of the market has also been studied with the detailed profiles of the nanofibers market competitors.

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