Global nanofibers market is expected to witness growth on account of increasing importance of nanotechnology in pharmaceuticals, personal care, textiles, energy, and construction industries. Nanofibers are increasing fortified in manufacturing artificial organs, blood vessels, implant materials, wound dressing and tissue engineering on account of exhibiting properties such as minimum infection rate, blood loss and ultimate absorption by human body. This trend is expected to have a positive impact on nanofibers market over the next seven years. Owing to their high surface area and highly porous structure, nanofibers are meant for use in filtration applications such as aerosol filters, oil filters and facemasks. The proliferation of nanotechnology in defence protective products such as armour jackets is expected to have a positive impact on nanofibers market in the near future. Growth of textile industry in India, China and Germany is expected to fuel market demand in manufacturing sports shoes, rain wear, diapers and napkins. Personal care industry growth in emerging markets of China and India on account of rising awareness towards personal hygiene is expected to augment nanofibers market growth in manufacturing cosmetic tissues, pads and skin curing products. Deployment of nanofibrous electrodes for the production of fuel cells to increase high conversion efficiency is expected to tap new applications for nanofibers market in the near future.
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Nanofibers are expected to act as a replacement for nanotubes in electronics industry over the forecast period on account of providing properties such as high conductivity. Incorporation of nanotechnology along with electronics industry growth in China, Japan, South Korea and Singapore is expected to have a positive impact on nanofibers market. Increasing R&D expenditure for the production of nanofibers through waste cooking oil and recycled plastics is expected to open new market avenues in the near future.
Key manufacturers of nanofibers include, Mitsubishi Chemicals, Donaldson Company, Hills Inc., FibeRio Technology Corp, Electrovac AG, Nano Technology Inc. and NanoForge. In February 2014, non-wovens manufacturer Polymer Group Inc. invested USD 8 million for incorporating nanofibers in its product offerings. In April 2015, FibeRio Technology Corp and VF Corporation formed a strategic alliance for the development and commercialization of next generation nanotechnology based fabrics.
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