The North American nanofibers market is slated to emerge as the second fastest-growing market after Asia-Pacific, currently having shares of 29% and 44% respectively. The U.S and Canadian scientists use various types of nanofiber materials to mainly achieve the energy-efficient energy conversions, energy-saving air, and water purification, and nanofibers customized tissue engineering and drug delivery systems.
Nanofibers have become one of the most popular materials occupying the highest demand in many industries. The nanofibers have unique physical and mechanical properties and are hence, favored in many industries. The market success is largely dependent upon the application development, suitable for the wider business community. The global market for nanofibers is estimated to grow at a compound annual growth rate (CAGR) of 35% for a period of 5 years from 2016 to 2021.
The nanofibers ability to change the properties of a wide spectrum of materials and also assist in the creation of totally new materials and of late, they are finding application in almost every field. Presently, they are excessively used in air filtration as they are very effective in removing submicron particles, including viruses and bacteria. Their high filtration efficiency does not change over time, as in the case of electrically charged filters, while the energy consumption necessary for filtration is much lower than those commonly used filters. Nano filtration membranes can separate molecules from the size between 0.5 and 10 NM.
Market Dynamics of the North America Nanofibers Market:
The unique physical properties of nanofibers make them desirable compound in several industries and as a result, a lot of investment is being made in the development of nanofibers.
They are more expensive than the traditionally used materials.
Nanofibers have become one of the greatest exploratory subjects for academics, and largest fascinating business elements for many industries. Many of today’s most successful companies and organizations have been realizing the importance of nanofibers. The market success is largely depending on applications development suitable for a wider business community.
Nanofibers offer hope in finding solutions for many of the fundamental problems in the development of human society. These include the requirement for, mobile sources of energy, batteries enabling the advanced energy storage, cleaning and conserving drinking water, etc. Further development in these regions is dependent upon solutions being found, and this huge potential demand represents a great business opportunity. The demand for products containing nanofibers is expected to grow at a compound annual growth rate (CAGR) of 36% for a period of 5-years from 2016 to 2021.
The North American nanofiber market can be segmented based on their types (polymeric nanofibers, carbon nanofibers, ceramic nanofibers, glass nanofibers, composite nanofibers), based on their end-users (medical, chemical, energy, electronics, healthcare, aerospace, composites, textiles and automotive), and on the basis of geography (U.S.A and Canada). Some of the key players are:
Key Deliverables in the Study: