The nanofiber market in Europe 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 Europe manufacturing industry is rapidly expanding as more and newer regions are investing to adopt manufacturing plants in their localities.The expansion of the industry in Europe embraces technological advancements to enhance the plant productivity, maintain edge with the customers, and gain competitive advantage.
The expansion is further highly driven by the economic growth worldwide.Also, the industry is presently found to be in the middle of a technological renaissance, which is changing the outlook, system, and process of a modern factory.
With the rising expansions of industries, the environmental hazards are rising especially in the heavily industrialized cities of the region.Factories in heavy industries release toxic emissions, which has had severe impacts on the environment as well as on the health of the population residing nearby the factory.
To regulate the release of toxic emissions from the industries is a need for an hour. Therefore, environmental regulatory bodies across Europe imposed regulations on the industries regarding these emissions. With the physiological properties exhibited by the nanofibers, these elements prove to be highly ideal materials to be used in the industrial Air filtration applications. The nanofibers, when applied with a filtration media, substrate material forms a permanent web with fine interstitial spaces ensuring highly efficient collection of dust, dirt, and contaminant particles on the web. High surface-to-volume ratio, high permeability coupled with smaller diameters, and high strengths hand advantage to the nanofibers for being used in the industrial air filtration applications. Low pressure drop across filtration media saving considerable amount of energy, less compressed air consumption for pulse-jet cleaned dust collection systems, long filter life, and flexibility provided in the filter configuration are a few benefits of the nanofibers based air filtration systems. Gaseous pollutants and particulate matter (PM) are efficiently filtered out using nanofibers. Nanomembranes, that form a web like structure, efficiently remove any contaminant, whereas adding different additives to the nanofiber surface causes efficient gaseous pollutant adsorption. Industries in the region have been using nanofibers for air filtration applications. Therefore, the rapid industrialization is anticipated to drive the growth of the nanofiber market in the coming years.
Europe comprises several major manufacturing industries, such as aerospace, machinery & equipment, automotive, ship building, and automotive vehicles.The automotive is a crucial industry in the region.
In the industry, nanofibers are used for air filtration, lightweight components manufacturing, and other applications.Adverse effects on the automobile industry impact the nanofibers market in Europe.
Also, as per the recent data, France recorded the highest number of COVID-19 cases in Europe.Other than this, Russia, the UK, Italy, Germany, and Spain have been hit hard by COVID-19 outbreak.
These countries are experiencing an economic hit due to a lack of revenue from aforementioned industries. Other member states have implemented drastic measures and travel restrictions, which includes partially closing their borders. All these factors have negatively impacting the growth of the nanofibers market in Europe.
Based on application, the Europe nanofiber 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 largest share in the market in 2020.
The industries are focusing increasingly on the environment sustainability and are opting to use environment-friendly products and materials.The region comprises several industries such as general manufacturing/engineering, automotive, thermal power, and steel.
Air filtration products and solutions are being extensively installed in various manufacturing industries to avoid harmful emissions from these plants.Activated carbon and fiberglass nanofibers are widely used for air filtration.
Emerging air filter technologies are being adopted owing to the need to avoid pollution by particulate matter (PM) as well as volatile organic compounds that have raised concerns for environment and public health. The interconnected nanoscale pore structures of the nanofibers, fine diameters, and highly specific surface areas have become versatile platforms for air filtration. Efficiencies achieved for air filtration with the use of nanofibers are extremely high and can be regulated as per the requirement.
The Europe 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 Europe 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 Europe nanofiber market. Ahlstrom-Munksjo; Asahi Kasei Corporation; Donaldson Company, Inc.; DuPont; Nanofibers Solution LLC, Inc.; Toray Industries, Inc.; Elmarco s.r.o.; and Mempro Ltd. are a few leading companies operating in the market.
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