Newsline-National | March 2016
Nanofibre market to grow at 24.12% CAGR
The nanofibre market is expected to grow as the nanofibre production system is forecast to show improvement during the forecast period 2016-2020 with vendors striving to achieve economy of scale and reduce the break-even point. Many solution providers such as Fibreio technology, Elmarco are coming up with improved technology and new techniques, showcasing their capabilities to provide comprehensive nanofibre solutions.
The analysts forecast global nanofibre market to grow at a CAGR of 24.12 per cent during the period 2016-2020. The increased adoption of nanofibres in technical textile is the primary growth driver for this market. Technical textiles that include nonwovens make up around 25 per cent of the global fibre consumption and have huge demand in areas like medical devices, water purification, and responsive fibrous system.
The filtration application segment dominated the market during 2015, with a market share of around 59 per cent. However, the electronics application segment is expected to see the highest CAGR during the forecast period. Material cost is an important factor driving the nanofibre market in electronics application.