The nanofiber market is expected to show significant growth, says a report by Pune, India-based Sandler Research. Many solution providers are developing improved technology and new techniques, showcasing their capabilities to provide comprehensive nanofiber solutions, analysts say.
The analysts forecast that the global nanofiber market will grow at a compound annual growth rate (CAGR) of 24.12 percent during the 2016-2020 period. The increased adoption of nanofibers in technical textiles is the primary growth driver for this market. Technical textiles that include nonwovens make up about 25 percent of global fiber consumption and experience huge demand in such areas as medical devices, water purification and responsive fibrous systems.
The filtration application segment dominated the market in 2015, with a market share of around 59 percent; however, the electronics application segment is expected to see the highest CAGR during the forecast period. Material cost is an important factor driving the nanofiber market in electronics application. Nanofibers have structural advantages, such as enhanced conductivity, over other materials.
The reports also notes the nanofiber market is in a nascent stage and provides ample opportunities for vendors to capture market share. Difficulties in production—such as the clogging of the needle in the needle-based electrospinning process—were limiting the supply of nanofibers. The production has become smoother and free of bottlenecks with the introduction of a needle-free electrospinning process provided by Elmarco’s nanospider electrospinning technology.