The Nanofiber Market size is forecast to reach US$3.4 billion by 2027, after growing at a CAGR of 32.1% during the forecast period 2022-2027. Nanofibers can be categorized into carbon nanofiber, graphite nanofiber, polymer nanofiber which include polysaccharides, polycaprolactone, collagen, cellulose, polyurethane nanofibers, and more. They are used in a wide range of industries which include medical, textile, automotive, electrical & electronics, aerospace & defense, water treatment, and other industries. In August 2021, Pennsylvania American Water announced the commencement of the development of a new wastewater treatment plant in the U.S. The approximate cost of the project is around US$ 8.7 million. The wastewater treatment plant is scheduled to be completed by the end of 2022. The increasing demand for nanofibers from the water treatment and medical industries acts as major drivers for the market. However, environmental concerns associated with the toxicity of nanoproducts may act as a major constraint for the market.
Nanofiber Market Segment Analysis – By Product Type
The polymer segment held a significant share in the Nanofiber Market in 2021, owing to its increasing demand due to the characteristics and benefits it offers over other types of nanofiber. Polymer nanofibers which include polysaccharides, polycaprolactone, collagen, cellulose, and polyurethane nanofibers offer high surface-to-volume ratio, flexibility in surface functionalities, along with superior mechanical performance and tensile strength in comparison to carbon nanofiber, graphite nanofiber, and other nanofibers. Moreover, they are lightweight, offer better thermal stability, and have a controllable, multiscale porous structure that can be used in a wide range of applications as compared to carbon, graphite, and other types of nanofibers. Hence, all of these benefits are driving its demand over other types of nanofibers, which in turn, is expected to boost the market growth in the upcoming years.
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Nanofiber Market Segment Analysis – By End-Use Industry
The water treatment industry held the largest share in the Nanofiber Market in 2021 and is expected to grow at a CAGR of 32.2% between 2022 and 2027, owing to an increase in demand for wastewater treatment across the world. For instance, according to the Environmental Information System (ENVIS), the total amount of municipal wastewater generation in India reached up to 72,368 MLD whereas the total water treatment capacity reached up to 36,668 MLD in 2020. According to the University of Michigan – Center for Sustainable Systems, California recycled around 1.5 million acre-feet of water per year in 2020, and it is expected to reach up to 2.5 million acre-feet of water per year by the end of 2030.
Furthermore, in May 2021, Acciona announced its plans to build a water treatment plant in the municipality of Los Cabos in Mexico. The project has a budget of around US$ 159 million. The project is estimated to have a water treatment capacity of 250 liters per second, equivalent to 7,884,000 cubic meters per year. The new facility is scheduled to be delivered by 2023. In July 2021, Lenzing Group, invested around GBP 20 million (US$ 27.5 million) to build a new, wastewater treatment plant at its site in Grimsby, UK. The investment is part of the company’s plans to reduce wastewater emissions in the country by the end of 2022.
Nanofibers are primarily used in the filter media and membrane systems of such wastewater treatment facilities, owing to their excellent filtration qualities. Thus, an increase in the development of such wastewater treatment facilities in order to meet the growing demand for wastewater treatment across the globe is expected to increase the demand for nanofibers, leading to market growth during the forecast period.
Nanofiber Market Segment Analysis – By Geography
The Asia Pacific held the largest share in the Nanofiber Market in 2021 up to 30%. The consumption of Nanofiber is particularly high in this region due to its increasing demand for nanofibers from the water treatment industry. Nanofiber is primarily used in the production of filter media and water filtration membrane systems for the removal of specific contaminants such as heavy metals, and oily molecules along with the removal of micro-pollutants, organic and inorganic matter. For instance, according to the China National Bureau of Statistics, China invested US$ 81.6 billion in its municipal wastewater system, including the development of new water treatment facilities, from 2015 to 2020. In 2020, the development of 39,000 new wastewater treatment facilities was completed throughout the country. In 2021, the Chinese government announced its plans to build new wastewater treatment facilities in the country in order to increase its wastewater treatment capacity by 20 million cubic meters per day from 2021 to 2025.
Furthermore, in August 2021, SMEC, Acciona, and Hunter H2O received a contract from the city of Gold Coast to build a new water treatment plant on the Gold Coast, Australia. The project is scheduled to be completed by the end of 2022. In 2020, operations for expansion of Woodman Point Water Resource Recovery Facility began in Australia. The addition of the water treatment facility is expected to increase its treatment capacity to 180 megaliters per day. The project is scheduled to be delivered by the fourth quarter of 2024.
In this way, such increasing development of new wastewater treatment facilities in the region is expected to increase the demand for nanofibers, thus, driving the growth of the market during the forecast period.
Nanofiber Market – Drivers
An increase in demand from the water treatment industry is most likely to increase demand for the product
The demand for nanofiber has been increasing rapidly as it is primarily used in the production of filter media and filter membrane systems used in water treatment facilities, owing to its superior filtration property. For instance, in April 2021, Veolia Water Technologies began the development of a new wastewater treatment plant in Genoa, Italy. The operation of the new facility is scheduled to begin in 2023. In January 2022, Kuwait’s Ministry of Public Works (MPW) announced the development of its new wastewater treatment plant in the South of Al Mutlaa, Kuwait. The development of the facility is scheduled to begin in the second of quarter 2022 and is expected to be completed by the fourth quarter of 2025. Furthermore, in December 2021, operations on the development of a new wastewater treatment plant began in Morocco. The facility is scheduled to become operational in 2023. The facility will be able to treat 8 million cubic meters of wastewater per year.
In this way, such new development of wastewater treatment plants is expected to increase the demand for nanofibers required for the production of filter media and membrane systems used in such facilities. This is expected to accelerate the growth of the market in the upcoming years.
An increase in demand from the medical industry is most likely to increase demand for the product
Nanofibers such as polysaccharides, polycaprolactone, collagen, cellulose, and polyurethane nanofibers are used in the implantable materials in the medical industry, owing to their properties such as high porosity, enhanced drug solubility, superior mechanical strength, flexibility, and versatile surface functionalization. Moreover, the use of biomedical textiles made of nanofibers as a substitute to replace or aid damaged body parts has been increasing rapidly in the past few years. Biomedical textiles composed of nanofibers is mostly used in artificial arteries, artificial joints, surgical sutures, and vascular grafts. According to the US Food and Drug Administration (FDA), more than 1 million hernia procedures are performed in the United States annually, due to the increasing issue of obesity among the general population in the country. Likewise, according to the National Institutes of Health, around 10%-15% of the US population usually suffers from gallstones in the bile duct. Furthermore, it also states that more than 5 million Americans are usually affected by valve-related heart diseases each year. Hence, the prevalence of such diseases in the general population and performing such surgeries would require advanced medical devices, including the use of biomedical textiles composed of nanofibers, thus, leading to market growth in the upcoming years.
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Nanofiber Market – Challenges
Environmental concerns associated with the toxicity of nanoproducts may confine the market growth
The use of nanofibers is usually linked with causing nano pollution. Nano pollution occurs from the byproducts or waste that is generated during the manufacturing of nanomaterials. The byproducts and waste generated during the production of nanomaterials can end up in landfills and contaminate the air and water systems. The growth of nanotechnology including nanofibers is considered to be a growing environmental concern as the full-scale impact of nano pollution is yet to be determined. Moreover, prolonged exposure or inhalation of nanoparticles during their manufacturing process may cause lung inflammation and heart problems. Thus, such environmental and health concerns associated with the production of nanomaterials could lead to strict regulations being imposed against nanofiber manufacturers in the future. This may confine the growth of the market.
Nanofiber Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in this market. Nanofiber top 10 companies include:
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A. Nanotechnology Market
B. Nanofibers for Medical and Cosmetics Market
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