Future Market Insights
Nano fibers are extremely popular in many industries today for their enhanced chemical and mechanical properties such as light weight, durability, etc. and are also found to have been highly compatible with various devices without interfering with the performance of end-products. The growth of the nano fibers market can be observed by the fact that over the last couple of years, penetration of nano fibers in the medical, pharmaceutical, mechanical, chemical, and environment sectors has increased to a great extent and is further expected to be growing over the coming years. The production of a number of products from composite nano fibers is one of the most important innovations of this century. Nano fibers offer solutions for several fundamental problems in the progression of human society, including portable sources of energy, cleaning and preserving drinking water, battery aided innovative energy storage, etc. Nano fibers are also used extensively in air filtration due to their efficiency in removing submicron particles, including viruses and bacteria.
The ability of nano fibers to change the properties of a wide spectrum of materials has led to an extensively growing market for them, especially in the commercial sector. The nano fibers market is expected to have better opportunities in several value added applications such as garments, personal care, insulation, filtration, energy storage, etc. among others, and their market is expected to witness a high growth rate over the coming years 2017–2027.
Nano fibers Market: Drivers and restraints
The demand for bio-based nano fibers is increasing. Regulations from various government and non-government organizations over the use of environment-friendly products has led to the development of bio-based nano fibers. Researchers and scientists from countries such as Japan and Singapore are found to have been investing to achieve sustainability and efficiency in the production of bio based nano fibers. Cellulose nano fibers are a particular type of nano fibers, consumption of which is expected to increase significantly over the coming years. One sector alone, textile, consumes around a quarter of the global nano fiber consumption. Other applications such as water purification, medical devices and responsive fibrous systems are expected to drive the demand for the nano fibers market. Also, increasing use of nano fibers in devices such as solar cells, fuel cells and other devices of high energy capacitors are expected to fuel growth of the nano fibers market over the forecast period.
However, costing has become a major restraining factor hindering growth of the global nano fibers market. Volatility in raw material prices curbs end users from its utilization on a large scale in industries. Also, special care is required while working with nano fibers due to potential health hazards associated with them; exposure to nano fibers may result in pulmonary inflammation and persistent fibrosis.
Nano fibers Market: Segmentation
The global nano fibers market can be segmented on the basis of manufacturing technique, product type, and end use. On the basis of manufacturing technique, the global nano fibers market segments as the following:
On the basis of product type, the global nano fibers market segments as the following:
On the basis of end use, the global nano fibers market segments as the following:
Nano fibers market: Region wise outlook
North America is expected to be a significant region in the global nano fibers market over the forecast period. The consumption of nano fibers is estimated to remain high in the MLP sector through 2026. Countries such as Canada and the U.S. are investing to develop efficient use of nano fibers in the energy saving, air and water purification and drug delivery applications. Asia Pacific, owing to strong support from both the private and public investments in nanotechnology, is expected to play a key role in the advancements of nano fibers over the coming years.
Nano Fibers Market: Players
Examples of some of the market players identified across the value chain of global nano fibers market are listed below:
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