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North America Nanofiber Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material and Application

North America Nanofiber Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material and Application

  • July 2021
  • 135 pages
  • ID: 6134397
  • Format: PDF
  • The Insight Partners

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The nanofiber market in North America 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.

Also, in terms of volume, the market is expected to reach 4,825.18 tons by 2028. Over the years, the US has experienced significant demand for drugs and the trend is rapidly increasing, which is helping the pharmaceutical companies to increase their production and sales. The demand for generic drugs has more importance than the counterparts i.e. the brand name drugs owing to lower cost with same chemical composition. In 2016, according to IMS, the generic drugs segment accounted for 88% of the overall volume of the pharmaceutical industry in the US, and the trend is anticipated to increase steadily. Similar drug consumption pattern is observed in Canada and Mexico. In addition, several pharmaceutical companies based out of the US are establishing their production centers in Canada and Mexico, which is facilitating the demand for nanofibers in the healthcare sector in these two regions. The trend is expected to remain the same in the coming years. Nanofibers with their standout physiochemical and mechanical properties play a crucial role in the pharmaceutical industry and have gained popularity in North America in the recent times. High molecular loading capacity of nanofibers renders them desirable for drug delivery and biological sensing applications. Drug delivery, wound healing, barrier textiles, and tissue engineering are among the major applications of nanofibers in the healthcare sector. Biopolymers are ideally used for nanofiber manufacturing to be used in the healthcare sector owing to their biodegradable properties. Further, various research works are being carried out across the region on the applications of nanofibers in the healthcare sector. Thus, the rising emphasis on the MLP sector in the advanced countries of North America coupled with enhanced emphasis on nanofibers for these applications, the nanofibers market is expected to flourish in the coming years.

The US recorded the highest number of COVID-19 confirmed cases than Mexico and Canada.The outbreak is hindering the overall manufacturing, research and development, and supply chain activities, which is adversely affecting the growth of the nanofibers market in North America.

In addition, COVID-19 outbreak has negatively impacted several industries such as semiconductors, consumer electronics, automobiles, and other FMCGs in the US.All these industries propel huge demand for nanofibers for air filtration purposes.

Thus, the shutdown of several manufacturing plants of these industries have restricted the growth of the nanofibers market indirectly.

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.

Nanofibers are generated from various polymers and thus exhibit different physical properties as well as application potentials.Natural polymers as well as synthetic polymers are used in the nanofiber generation.

The natural polymers are preferred over the synthetic ones in the medical science and pharmaceutical applications owing to the factors such as lower immunogenicity and better biocompatibility.Collagen, silk fibroin, cellulose, chitosan, gelatin, and polysaccharides are used as raw materials in the natural polymers.

Electrospinning is the widely adopted method to produce nanofibers from these natural polymers. It is a very simple and efficient method used in the production of polymer nanofibers from solutions. Remarkable progresses have been made to this method using natural polymers over the years. While synthetic polymers comprise nylon, polyacrylonitrile, polystyrene, polycarbonate, Polyethylene terephthalate (PET), and water-soluble polymers. The broad range of applications of polymeric nanofibers consist of filtration devices in the industries, tissue scaffolds, fibrous reinforcements in synthetic and biological composite materials, production of synthetic blood vessels, and skin or healing agents. Also, in the recent times, polymer nanofibers are being used increasingly as active components in the organic light emitting diodes (OLED), sensors, and photoconductors. As natural polymers are used in biomedical applications, synthetic polymers are preferred in applications such as automobile components manufacturing.

The North America nanofiber market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for the North America nanofiber market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain more analytical insights into the topic.

The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the North America nanofiber market. 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 leading companies operating in the market.

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