North America Nanofibers Market - Segmented by Type, End-user Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)
North America Nanofibers Market is expected to grow at a significant rate during the forecast period, 2018 to 2023. The market is expected to increase rapidly owing to its rapid growth from the energy storage segment. 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.
Growing Commercialization Due to Increasing End-user Industrial Applications
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. 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.
Growing Demand in Energy Storage Segment
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.
United States to Lead the Market
The United States is one of the leading countries in the production and supply of energy, and is also one of the world’s largest energy consumers. This scenario lead to a constant increase in the use of nanofibers in the near past, owing to consistent R&D activities for the usage in new applications combined with the increasing demand from the consumer. This in turn is expected to propel the nanofibers market, as there is a significant application of nanofibers in both automotive and healthcare industry.
Notable Developments in the Market:
February 2018: Teijin Frontier Co., Ltd., announced its development of SOLOTEX Nanofiber, a polytrimethylene terephthalate (PTT) nanofiber with a diameter of 700nm that combines excellent gripping power with stretchable comfort for high-performance gloves, sportswear and innerwear
Major Players: Toray Industries Inc., Hollingsworth and Vose Co., Donaldson Co. Inc., Mitsubishi Rayon Co. Ltd., NanoTech Labs Inc., Nanoval GmbH and Co. KG, among others.
Reasons to Purchase this Report
To understand the impact of end-user applications on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating technology in the market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
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