Metal Oxides Nanofiber Market is projected to reach a value of $377.42 million by 2030

According to the report published by Virtue Market Research, the Global Metal Oxides Nanofiber Market was valued at $120 million in 2022 and is projected to reach a market capitalization of $377.42 million by 2030. Over the forecast period of 2023-2030, the market is estimated to grow at a CAGR of 15.4% owing to the high demand for pharmaceutical and medical products driving the expansion of the market.

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A major driver in the industry is the coating of filtration substrates with nanofibers to increase filtration capacity. Because of their enormous interconnectivity and high specific surface area, nanofibers' physical properties make them exceptionally effective at blocking the passage of germs, viruses, and dust particles. During the anticipated period, this trend is likely to fuel market expansion due to its wide-scale applications. Another crucial business potential is the application of nanofibers in the field of advanced textiles, notably in medical textiles.

The COVID-19 pandemic has significantly increased demand for metal oxide nanoparticles since they can break down dangerous substances like nerve toxins. The ability of nanofibers to be incorporated into protective gear and breathing filters has enhanced their demand in particular. Rechargeable lithium-ion batteries are now more necessary than ever as portable electronics like smartphones and laptops gain popularity. The pandemic has however caused market volatility for nanofibers, which has had a severe impact on the chemical and materials sectors by disturbing supply chains and slowing scientific developments. Despite these obstacles, it is projected that the market for products comprised of metal oxide would expand in other industries, including post-pandemic healthcare. It can be used as scaffolds in biomedical devices due to their special mechanical, biodegradable, and biocompatibility attributes. This is anticipated to accelerate market expansion throughout the anticipated timeframe. Though, a significant market restraint is the potential of Nano pollution brought on by the use of nanofibers. There is still much more to learn about the byproducts created during the production of nanoscopic units and materials, which can contaminate water and air systems. These risks might result in strict regulatory actions being taken against nanofiber producers, which might hinder market expansion during the projection period.

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Segmentation Analysis:
The global Metal Oxides Nanofiber Market segmentation includes:

By Type:
• Carbon
• Ceramic
• Compounds
• Others

The Metal Oxides Nanofiber Market segment comprises carbons, ceramics, compounds, and others. Due to their substantial surface area, high porosity, and versatility in surface functions, carbon nanofibers command the largest market share in this category. These fibers are used in a wide range of industries, including filtration media for industrial purposes, scaffolds for the generation of extracellular matrix in bone tissue engineering, and medical purposes. Additionally, due to the application of nanotechnology in transdisciplinary sciences, it is projected that the market for polymer nanofibers would expand throughout the forecasted period. Moreover, the rising use of nanofibers in energy storage and other electronic applications including optical sensors, capacitors, and transistors has further increased the potential for leading market players in the ceramic and compound market segments.

By Application:
• Water and Air Filtration
• Carbon Filtration
• Others

Water and air filtration, carbon filtration, and other applications make up the application segment of the global metal oxide nanofiber market. High-efficiency particulate air (HEPA) filters frequently use metal oxide nanofibers because of their high surface-to-volume ratio, low-pressure drop, precise void interconnectivity, and tunable connectivity and shape, making the water and air filtration segment dominate the global market in terms of its application. . Additionally, nanofibers are utilized in applications for chemical and fuel sensing, as well as for the detection of dangerous and combustible gases, air quality, and environmental monitoring. The electro-spun nanofiber-based filter media are especially used in the production of N95 masks and face masks due to their enhanced aerosol droplet collection and increased breathable properties.

Regional Analysis:
The healthcare, aerospace & military, energy, and automotive industries all have an increasing need for metal oxide nanofibers. Since China and India have a booming healthcare market, Asia-Pacific now retains the highest global market share for the metal oxide nanofiber market. China, with the second-largest healthcare sector globally coupled with the rising demand for nanofibers in cancer therapy, tissue engineering, drug transport, stem cell therapy, and wound healing has together resulted in a burgeoning nanofiber market in the region. Additionally, India is a key market for healthcare, where individual spending as a percentage of GDP is rising rapidly leading to a more stable market there. Also, India is a popular destination for medical tourism due to its affordable and high-quality healthcare, and China boasts the largest automotive sector in the world. These factors together make up a significant percentage of the global metal oxide market revenue shares. Metal oxide nanofibers are also heavily employed in Europe in the automotive, aerospace, and defense industries for energy storage. Businesses in the area are making hefty amounts of capital investments in the study and creation of nanofibers for cutting-edge technologies.

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Latest Industry Developments:
• In May 2020, Teijin Carbon Fiber has been used to construct the world's first railway bridge fully suspended on CFRP hangers. This bridge is a milestone in the use of CFRP technology, demonstrating the untapped possibilities of lightweight, durable and resilient materials for engineering applications in the sector.

• In March 2022, Hollingsworth & Vose announced an investment in its Mysore India plant, to double their manufacturing capacity and produce battery separators for the South Asia and Global market. The move is a strategic business plan to meet the global increasing demand for energy storage solutions.

• In August 2022, Toray, a leading global materials manufacturer, developed a new Nano-filtration membrane to recover lithium from used lithium-ion batteries. This highly lithium-selective membrane is said to offer superior acid resistance and is likely to improve the efficiency of lithium recovery processes to a great extent. The new membrane separates lithium from other compounds present in used batteries and is capable of recovering up to 99% of the lithium present in the battery. This new membrane is anticipated to revolutionize the lithium recovery process and reduce the cost of lithium production.

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Virtue Market Research is a strategic management firm helping companies to tackle most of their strategic issues and make informed decisions for their future growth. We offer syndicated reports and consulting services. Our reports are designed to provide insights on the constant flux in the global demand-supply gap of markets.

This release was published on openPR.