Lucintel Forecasts Nanofiber Market to Reach $2.41 Billion by 2028
According to the recent study the nanofiber market is projected to reach an estimated $2.41 billion by 2028 from $1.20 billion in 2023, at a CAGR of 15% from 2023 to 2028. Growth in this market is primarily driven by increasing usage of nanofibers in the medical and pharmaceutical industries for delivering medicines to internal tissues, growing adoption of low-cost polymers for developing nanocomposites, and rising trend of sustainable and eco-friendly products.
A more than 150 – page report is developed to understand trends, opportunities and forecast in nanofiber market by product type (carbon nanofiber, composite nanofiber, metal and metal oxide nanofiber, polymeric nanofiber, carbohydrate based nanofiber, and ceramic nanofiber), application (water and air filtration, automotive and transportation, textiles, medical, electronics, energy storage, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
“Polymeric market is expected to remain the largest segment during the forecast period.”
Based on product type, the nanofiber market is segmented into carbon nanofiber, composite nanofiber, metal and metal oxide nanofiber, polymeric nanofiber, carbohydrate based nanofiber, and ceramic nanofiber. Lucintel forecasts that the polymeric market is expected to remain the largest segment due to the increasing demand for polymer-based nanofibers owing to their affordability and availability in a variety of natural and synthetic polymers.
“Within the nanofiber market, the water and air filtration segment is expected to remain the largest application”
Based on application the water and air filtration segment is expected to witness the highest growth over the forecast period due to the increasing use of nanofiber in high-efficiency particulate air (HEPA) filters because to its high surface-to-volume ratio, low pressure drops, superior void interconnectivity, and customizable connectivity features.
“Asia pacific will dominate the nanofiber market in near future”
APAC will remain the largest region due to the extensive demand for nanofiber in various end use industries, such as healthcare, aerospace and military, energy, and automotive and presence of second-largest healthcare market in China.
Major players of nanofiber market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. ESpin Technologies, Hollingsworth & Vose Company, Nippon Paper Industries, Teijin, and Toray Industries are among the major nanofiber providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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