June 27, 2022 12:45 ET | Source: Straits Research Straits Research
New York, United States, June 27, 2022 (GLOBE NEWSWIRE) -- Nanofibers have an extremely high surface area-to-volume ratio and porosity, making them appealing materials for a wide range of applications. They are increasingly used in drug delivery systems, surgical implants, water, air filtration, face masks, and protective clothing. Centrifugal spinning, electrospinning, melt blowing, and bicomponent spinning have been intensively investigated to manufacture nanofibers with various degrees of commercialization. Several new synthesis methods have also been evolved. The increasing adoption of materials with high functionality, such as absorption properties and grip, and exquisite comforts, such as soft texture and low skin irritation, has expanded the market. This is further by an increase in demand for medical-grade face veils and air and microfiltration media, high-efficiency fuel filtration, sophisticated filtration, biomedical research media, sound systems, and performance apparel.
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Increasing Research and Development to Provide Opportunities for the Global Nanofibres Market
There are several ongoing research and development activities in cellulosic nanofibers that can positively impact the demand for nanofibers. Growing penetration of electric vehicles in developed and developing countries can be a perfect opportunity to realize the untapped potential of supercapacitors, which can hold massless electrons in an electric field. In contrast, conventional batteries store energy in chemical form.
Supercapacitors could deliver short and intense bursts of power. However, it can contain only a fraction of the storage capacity of a lithium-ion battery. It can, however, only hold a fraction of the storage capacity of a lithium-ion battery. The constraint of lithium-ion batteries is slow charging. In contrast, cellulose nanofiber supercapacitors could be used to accumulate vast amounts of energy and have promising applicability for handheld electronics, transportation, and renewable energy storage, as per an article presented in the March 2021 issue of the journal Nature.
The companies with massive capital in hand and low debt-to-equity ratios are capable of increasing their R&D expenditure. Many end-users of cellulosic nanofibers, such as Nippon Paper Industries Co., have already begun such initiatives to build their competitive advantage over others.
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Growing Needs from the Medical and Pharmaceutical Industries to Drive the Global Nanofibres Market
Nanofibers are primarily used in the pharmaceutical industry as a tool for drug delivery systems for various ailments. Because of its small size, Nanofiber is an ideal drug carrier for delivering drugs to a suitable site in the body. Nanofibers have a broad spectrum of uses in the healthcare industry, including artificial blood vessels, organs, drug and gene delivery, and medical facemasks. Nanofibers also aid in healing joint wounds and injuries and blood clotting.
Furthermore, an upsurge in both administration and private sector spending on disease treatment will drive demand for nanofibers, which are used as devices for delivering drug systems to specific sites in the body.
Following the pandemic, demand for polymeric nanofibers has elevated in some end-use industries, such as healthcare and pharmaceutical. However, the usage of Nanofiber in other end-use industries, such as automotive, aviation, and defense, has been significantly affected by the government's lockdowns to combat the COVID-19 pandemic.
For example, carbon nanofiber and polymeric Nanofiber are replacing metals such as steel and aluminum in automobiles, aircraft, and other vehicles. However, due to COVID-19-related lockdowns, sales and marketing of passenger cars, commercial vehicles, aircraft, and other heavy-duty vehicles have plummeted.
Moreover, the decline in automotive and aerospace products and the second wave of the COVID-19 pandemic affected the recovery expected for the industry in 2021 further. This, in turn, is expected to affect the global market for nanofibers, at least for short- to medium-term period.
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By region, the global market has been segmented into Asia-Pacific, North America, Europe, and the rest of the world. The North American dominated the nanofibre market and was valued at USD 280 million in 2021, and is expected to reach USD 1555 million by 2030 growing at a CAGR of 21%.
The U.S. has the world's best medical and healthcare facilities. The medical sector has long been among the most critical industries in the United States and one of the most R&D-intensive. This will increase the demand for nanofibers. During the projected period, the market for nanofibers is anticipated to be driven by development in various end-user industries.
The Asia-Pacific region registered the highest growth during the forecast period and is expected to reach USD 1555 million by 2030 growing at a CAGR of 21%. In the Asia-Pacific region, China is the largest economy in terms of GDP. By 2030, China's total Li-ion battery capacity will be comparable to 39 million electric cars (EVs). These investments are likely to make a significant contribution to market demand growth.
List of Top Nanofibers Market Manufacturers
4.2 Value Chain Analysis: Nanofibers Market
4.4 Porter’s Five Forces Analysis
4.6 Forecast Factors & Relevance of Impact
4.15.1 Pre and Post Covid-19 Market Scenario Analysis
4.15.2 Market Recovery Timeline and Challenge
4.15.3 Measures Taken by Top Players
4.15.4 Quarterly Market Revenue and Growth Forecast till 2021
4.15.4.4 Central and South America and the Caribbean
4.15.4.5 The Middle East and Africa
5.1.1 Market Size & Forecast (Value & Volume)
5.2.1 Market Size & Forecast (Value & Volume)
5.3.1 Market Size & Forecast (Value & Volume)
5.4.1 Market Size & Forecast (Value & Volume)
5.5.1 Market Size & Forecast (Value & Volume)
5.6.1 Market Size & Forecast (Value & Volume)
5.7 Metallic and Metal Oxides Nanofiber
5.7.1 Market Size & Forecast (Value & Volume)
6.1.1 Market Size & Forecast (Value & Volume)
6.2.1 Market Size & Forecast (Value & Volume)
6.3.1 Market Size & Forecast (Value & Volume)
6.4.1 Market Size & Forecast (Value & Volume)
6.5.1 Market Size & Forecast (Value & Volume)
6.6.1 Market Size & Forecast (Value & Volume)
6.7.1 Market Size & Forecast (Value & Volume)
6.8.1 Market Size & Forecast (Value & Volume)
7.1.1 Market Size & Forecast (Value & Volume)
7.3 Central and South America and the Caribbean
7.3.6 Rest of Central and South America and the Caribbean
7.6.8 The Rest Of Middle East
8 Competitive Landscape — Manufacturers & Suppliers
8.5 CHUETSU PULP & PAPER CO. LTD.
8.17 NANOVAL GmbH & Co. KG
8.18 NIPPON PAPER INDUSTRIES CO. LTD
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