North America Nanofiber Market is expected to reach US$ 1,186.54 Mn by 2028

Polymeric Nanofiber Segment to Dominate the North America Nanofiber market during 2020–2028

 According to a new market research study on “North America nanofiber market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Material and Application,” the market is expected to reach US$ 1,186.54 million by 2028 from US$ 217.79 million in 2021. The market is estimated to grow at a CAGR of 27.4% from 2021 to 2028. The report provides trends prevailing in the North America nanofiber market along with the drivers and restraints pertaining to the market growth. Fast pace of industrialization and the need to reduce harmful emissions from the industrial plants, up-surging growth of the medical life science and pharmaceutical (MLP) industry in North America and raising support from government for research & development activities on nanotechnology  are the major factor driving the growth of the nanofiber market. However, Difficulties and challenges occurring for nanofibers in healthcare and biomedical engineering hinder the growth of nanofiber market.

The U.S has the highest number of confirmed cases of COVID-19, as, compared to Mexico and Canada. This is likely to impact the nanofibers industry in the region as, due to the COVID-19, the overall manufacturing processes, research, and development activities and the supply chain is likely to get affected. In addition, COVID-19 has impacted several industries including semiconductors, consumer electronics, automobiles, and other FMCGs negatively in US. All these industries have huge demand for nanofibers for Air filtration purposes thus shutdown of several manufacturing plants of these industries have impacted the growth of nanofibers indirectly.

North America nanofiber market is segmented based on material and Application. Based on material, the North America 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.; Espin Technologies; and Elmarco s.r.o. are among some of the leading companies in the North America 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 Company, Inc. acquired Hy-Pro Corporation, which is a maker of solutions for filtering hydraulic and lubrication fluids. This acquisition helps the company to enrich its capabilities as well as, strengthen its customer base across the world.

The report segments the North America Nanofiber Market as follows:

North America Nanofiber Market – By Material

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

North America Nanofiber Market – By Application

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

North America Nanofiber market – By Country

• US
• Canada   
• Mexico