June 29, 2022
The global nanotechnology industry continues to climb to new heights, on track to achieve value growth of 19.5% CAGR between 2021 and 2026, according to a new report from BCC Research. Yet there’s a segment of the industry that’s outstripping all others, and powering forward to achieve value growth of more than 25% CAGR over the same timeframe.
“Nanofibers are rising up through the nanotechnology ranks,” says Dr. Helia Jalili, Director of Advanced Materials and Technology, BCC Research. “These structures have a diameter of less than 1,000 nanometers, which means that if you took one hundred of them and lined them up, they’d be about as long as a human hair is wide. But their size belies their potential.
“And we’re seeing a flurry of R&D activity, with interest coming from public institutions and private organizations alike. Across a wide range of applications, the adoption rate of nanofibers is now accelerating faster than any other segment within the nanotechnology sector. From electronics to energy, defense to transportation, and life science to thermal and acoustic insulation, we’ve identified nine key sectors where nanofibers are creating game-changing possibilities.”
While the nanofiber segment represented 3.1% of the $59.0 billion nanotechnology market in 2020, BCC Research has identified it as a technology of significant future interest. Nanofibers are used in the production of N95 masks, a fundamental requirement in a post-COVID world. Several start-up companies have produced nanofibers that help to capture aerosol droplets more effectively than competing technologies, while also providing additional breathability. And some of these manufacturers are producing millions of masks every month.
But that’s just a small chapter in the story. Applications within the mechanical, chemical and environmental sector currently account for the largest market share, commanding nearly 40% of the total in 2020. Life sciences occupy second position, with products that consist mainly of wound dressings, tissue engineering scaffolds and biomedical membranes. Rounding out the top three is the energy sector, which accounts for around 11% of current market value.
Looking to the regions, North America takes the lion’s share, closely followed by Asia-Pacific, where several countries in the region have declared nanotechnology as a strategic sector of technological and scientific importance.
In Japan, NEDO, a national research and development agency, has focused on the development of potential cellulose nanofibers across various applications. Prominent industrial fields with green growth strategy plans include the household office, energy, and transportation and manufacturing industries. Such initiatives are expected to create lucrative opportunities for market growth in the coming years.
Nanofibers are making serious advances on several fronts,” says Dr Jalili. “Nanofiber-based products for the life science sector are achieving fast market penetration. New generations of electronic and optoelectronic devices are being built utilizing nanofibers and nanowires. Nanofiber-based filtration products are becoming more popular in developing countries.
“What’s more, emerging applications are poised to leave the development stages and enter mainstream commercialization, while an increasing number of players are entering the nanofiber market, introducing new products and manufacturing processes. It’s a melting pot of innovation that demands attention.”
Global Markets and Technologies for Nanofibers( NAN043F )
Publish Date: Mar 2022
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