The nanofiber market in South America is expected to reach US$ 111.71 million by 2028 from US$ 24.73 million in 2021. The market is estimated to grow at a CAGR of 24.0% from 2021 to 2028.
Nanofibers attracted researchers and governments across the region owing to their remarkable properties as well as rising usage of biodegradable products due to growing environmental concerns.As nanoparticles have gained importance over the years, and witnessed their integrations into a wide range of applications, governments are investing huge amounts in the research and translation into the commercialization of nanofibers for end users.
Developing countries are also investing significant amounts in the research & development activities of nanofibers.Governments are keen for setting up national centers for nanotechnology in their respective countries.
Nanotechnology is a key element that would influence advanced manufacturing in the coming years.Innovation driven initiatives in the advanced manufacturing arena by countries, such as Brazil and Argentina, are further anticipated to boost the growth of the nanofibers market in the coming years.
The investments by governments in the field of nanotechnology would also create lucrative opportunities for the market players during the forecast period.
Brazil has the highest number of COVID-19 cases, followed by Argentina, Peru, Chile, and Ecuador among others.The government of South America has taken an array of actions to protect their citizens and contain COVID-19’s spread.
It is anticipated that South America will face lower export revenues, both from the drop-in commodity prices and reduction in export volumes, especially to China, Europe, and the United States, which are important trade partners. Containment measures in several countries of South America will reduce economic activity in the manufacturing and service sectors for at least the next quarter, with a rebound once the epidemic is contained.
Based on material, the South 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 South 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 South 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 South America nanofiber market. Ahlstrom-Munksjo; Asahi Kasei Corporation; Donaldson Company, Inc.; DuPont, Nanofibers Solution LLC, Inc.; Toray Industries, Inc.; and Elmarco s.r.o. are a few leading companies operating in the market.
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