WELLESLEY, MA /BUSINESS WIRE/ -- According to the recently published BCC Research report "Nanofibers: Technologies and Developing Markets" (NAN043A), the global market for nanofibers increased from $40.2 million in 2005 to $43.2 million in 2006, with sales reaching an estimated $48.0 million by the end of 2007. Additionally, sales should reach $176 million in 2012 and grow to $825 million by 2017, with compound annual growth rates (CAGR) of 30% and 36%, respectively.
Nanofiber revenue growth is being driven primarily by the use of these materials in the mechanical/chemical sector, in particular for manufacturing filtration media. This sector is expected to grow from $35.3 million in 2007 to $127.6 million in 2012 and $521.7 million in 2017, at 29.3% and 32.5% CAGR, respectively.
The fastest growing sector will be electronics, increasing from $2.2 million in 2007 to $7.2 million in 2012 and $137.9 million in 2017, at 42.7% and 60.4% CAGR, respectively.
Another important sector is energy, growing from $7.9 million in 2007 to $29 million in 2012 and $116.3 million in 2017, at CAGRs of 29.7% and 32%, respectively.
Nanofibers are traditionally defined as cylindrical structures having an outer diameter less than 1000 nm and an aspect ratio (the ratio between length and width) greater than 50. Over the years, several types of nanofibers have been developed: polymeric, carbon, ceramic, glass, metallic, and composite.
Nanofibers have current and potential use in a large variety of applications, such as electronics, mechanical, chemical, sensors and instrumentation, energy, medical, bioengineering, automotive, aerospace, thermal and acoustic insulation, consumer, and defense and security.
BCC Research is the source and publisher of "Nanofibers: Technologies and Developing Markets" (NAN043A). For information on the report, contact BCC Research at 40 Washington St., Ste. 110, Wellesley, MA; 866-285-7215, [email protected], or via the Web.