Europe Nanofiber Market is expected to reach US$ 542.25 Mn by 2028

Industrial Air filtration Segment to Dominate the Europe Nanofiber market during 2020–2028

 According to a new market research study on “Europe Nanofiber market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Material and Application,” the market is expected to reach US$ 542.25 million by 2028 from US$ 105.99 million in 2021. The market is estimated to grow at a CAGR of 26.3% from 2021 to 2028. The report provides trends prevailing in the Europe nanofiber market along with the drivers and restraints pertaining to the market growth. Boosting growth of the medical life science and pharmaceutical (MLP) industry in Europe, progressive pace of industrialization and the need to reduce harmful emissions from the industrial plants and advancements in the electrospinning mechanisms for nanofibers to increase throughput are the major factor driving the growth of the nanofiber market. However, Hurdles and challenges occurring for nanofibers in healthcare and biomedical engineering hinder the growth of nanofiber market.

The European region comprises of several major manufacturing industries such as aerospace, machinery & equipment, automotive, ship building, automotive vehicles, and others. The automotive industry of the EU is considered to be a crucial industry, nanofibers are used for air filtration, manufacturing lightweight components and other applications. Adverse effect on automobile industry has impacted the nanofibers market in Europe. Also, as per the recent data, France has recorded the highest number of COVID cases. Other than this, Russia, UK, Italy, Germany, and Spain have also been hit hard by COVID-19. These countries are expected to suffer an economic hit due to a lack of revenue from aforementioned industries. Other member states have implemented drastic measures and travel restrictions, include, and partially closing their borders. All these factors are anticipated to impact nanofibers market growth in Europe.

Europe nanofiber market is segmented based on material and Application. Based on material, the Europe nanofiber market is segmented into polymeric nanofiber, carbon nanofiber, ceramic nanofiber, glass nanofiber and others. The polymeric nanofiber segment accounted for the highest share in the market in 2020 and carbon nanifiber segment is expected to be fastest growing during forecast period. Based on application, the market is segmented into consumer goods & textiles, electronic components, industrial air filtration, defense & security, power & energy, healthcare & life sciences, chemicals & environment and others. The Industrial Air filtration segment accounted for the highest share in 2020 and healthcare & life sciences segment is expected to be the fastest growing during forecast period.

Ahlstrom-Munksjo; Asahi Kasei Corporation; Donaldson Company, Inc.; DuPont; Nanofibers Solution LLC, Inc.; Toray Industries, Inc.; Elmarco s.r.o; and Mempro Ltd., are among some of the leading companies in the Europe nanofiber market. The market players focus on new product innovations and developments in order to achieve sustainable growth and to distinguish themselves among competitors present in the highly competitive express delivery market. For instance, Donaldson introduced next-generation sterile air filters with its new P-SRF line. The advanced technology lowers production costs while improving the purity of air utilized in product processing and packaging.

The report segments the Europe Nanofiber Market as follows:

Europe Nanofiber Market – By Material

• Polymeric Nanofiber
• Carbon Nanofiber
• Ceramic Nanofiber
• Glass Nanofiber
• Others

Europe Nanofiber Market – By Application

• Consumer Goods & Textiles
• Electronic Components
• Industrial Air filtration
• Defense & Security
• Power & Energy
• Healthcare & Life sciences
• Chemicals & Environment
• Others

Europe Nanofiber market – By Country

• France
• Germany
• UK
• Spain
• Italy
• Rest of Europe