Brisk Patent Activity Drives Soaring Global Nanofiber Market
Since 2005, the global nanofiber market has grown at a CAGR of about 25%.
Since 2005, the global nanofiber market has grown at a compound annual growth rate (CAGR) of about 25%, representing one of the fastest-growing segments within the nanotechnology sector. Patent activity in the market, especially among the filtration and separation, life science, and consumer products segments, coincides with huge growth rates in these application areas, according to a recent report available from BCC Research.
The global market for nanofiber products totaled $203.2 million in 2013 and $276.8 million in 2014. This market is projected to grow from $383.7 million in 2015 to nearly $2 billion in 2020, registering a five-year CAGR of 38.6%. The mechanical/chemical/environmental segment of this market should grow from $254.4 million in 2015 to nearly $1.1 billion in 2020 at a five-year CAGR of 32.8%. This segment also accounted for the largest market share, at 66.3% of all revenues in 2015. The life science segment should grow from $45.3 million in 2015 to $493.2 million in 2020, reflecting a five-year CAGR of 61.2%.
During the past 15 years, the number of applications and issued patents (PAI) increased steadily and rapidly, reaching a peak in 2014, with 658 patents applied for or issued. From 2000-2015, PAI increased at a CAGR of 29%. Since 2010, PAI have realized a 12.4% CAGR. Companies and research organizations are actively developing innovative nanofiber compositions, indicating that interest in the development of nanofibers continues to expand at a healthy rate. The number of R&D activities and patents related to nanofibers is continuing to increase at a relatively rapid pace. Since 2010, the number of patent applications and issued patents (PAI) has risen by 30%.
“Generally speaking, an average of three patents per month or more indicates significant interest in that particular technology,” said Margareth Gagliardi, research analyst. “For the period from 2009 to 2015, the number of patents per month has always been higher than this threshold value, showing that interest in nanofiber technology is at a high level and keeps gaining strength. This expansion in R&D activity is expected to yield technological breakthroughs and improvements that will contribute to the acceleration in the growth of the nanofiber market during the forecast period.”
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