According to BCC Research, the global market for nanofibers increased from $40.2 mln in 2005 to $43.2 mln in 2006 with sales reaching an estimated $48.0 mln by the end of 2007. It should reach $176 mln in 2012 and grow to $825 mln by 2017, compound annual growth rates (CAGR) of 30% and 36%, respectively. Nanofiber revenue growth is being driven primarily by the utilization of these materials in the mechanical/chemical sector, in particular for manufacturing filtration media. This sector is expected to grow from $35.3 mln in 2007 to $127.6 mln in 2012 and $521.7 mln in 2017, at 29.3% and 32.5% CAGR, respectively. The fastest growing sector will be Electronics, increasing from $2.2 mln in 2007 to $7.2 mln in 2012 and $137.9 mln in 2017 at 42.7% and 60.4% CAGR, respectively. Another important sector is Energy, growing from $7.9 mln in 2007 to $29 mln in 2012 and $116.3 mln in 2017 at CAGRs of 29.7% and 32%, respectively.