23-Nov-2022 | Zion Market Research
The global Metal Fiber market size was worth around USD 4.3 billion in 2021 and is predicted to grow to around USD 5.8 billion by 2028 with a compound annual growth rate (CAGR) of roughly 4.5% between 2022 and 2028.
Metal or plastic coated with metal or metal-coated with plastic is used to make metal fibers. Metal fibers are in high demand on the market as a result of consumer desire for materials with improved corrosion resistance, increased durability, and cost-effectiveness. Metal fibers can be warped with other fibers like wool, cotton, nylon, and synthetic fibers to produce aesthetically pleasing results. Metal fibers are employed for both aesthetic and practical reasons. They have a wide range of uses, including the creation of fiber metal alloys for filter elements, the creation of hybrid composites, the construction of airframes, the manufacture of vehicle bodies, and electrical insulation.
The need for lightweight cars is currently increasing on a global scale. This is one of the main drivers bolstering the global metal fiber market's growth, along with the strict rules implemented by various government regulatory bodies to boost automobiles' fuel efficiency. Metal fibers also aid in the best possible filter performance and longevity when filtering fuel and gasoline particulates. They have different properties, including as high permeability and lower filter ratings, and are pleated and welded to accommodate a small filter system footprint. They are rapidly being used in the marine sector worldwide because they also remove impurities from gasoline and lubricant, lessen wear on engine components, and limit engine fuel consumption and pollutant emissions.
The global metal fiber market is segmented based on the product, technology, application, industry vertical, and region.
The global market is divided into segments based on products, including steel, nickel, copper, aluminum, and others. Over 30% of the market is accounted for by the steel fiber segment, which is anticipated to continue following this trend over the forecast period. The increase in non-structural applications, such as industrial flooring and shotcrete, is responsible for segment growth.
This is because steel fiber-reinforced concrete exhibits a semi-ductile, strain-softening post-cracking response at conventional fiber dose rates. Additionally, steel fiber can increase resistance and strength. Additionally, because of its light weight and excellent strength, aluminum fiber is predicted to expand at the fastest CAGR during the forecast period. In addition, the need for metal fibers is driven by the use of aluminum in the automotive and aerospace sectors for chassis, bodies, beams, and other components.
The market is divided into bundle drawing, foil shaving, machining, and melt spinning categories based on technology. Over the anticipated timeframe, the bundle drawing technology is anticipated to dominate the market. Continuous metal fiber bundles up to several kilometers in length are feasible using this technique. The fibers’ cross-section is octagonal as a result of the operation's design. This technology can be modified to produce fibers of the greatest caliber, resulting in strands that are smooth, incredibly thin, and have a narrow equivalent diameter.
The market for metal fibers is segmented into ESD/EMI protection, filtration, hot glass manipulation, electrical cables, specialty, and others based on application. During the analysis period, the ESD/EMI segment is expanding quickly. Metal fibers found in brushes, large bags, plastic compounds, carpet and upholstery textiles, and personal protective apparel are used to safeguard a variety of objects against ESD and EMI. The expanding demand for ESD/EMI protection in textiles is expected to hasten industry growth. ESD/EMI shielding can be provided by the use of fiber and yarn. Additionally, they may have several properties, including those related to heating or electro-conductivity in general, a path for the transfer of power, resistance to heat or cuts, and others. These advantages hence fuel segmental expansion.
The global market is divided into automotive, power & electronics, chemical & materials, aerospace & military, textile, and others based on industry verticals. Throughout the analysis period, the automotive industry is anticipated to rule the market. The product's use in a variety of applications, such as chassis, body pieces, and seats, is the reason for the segment's expansion.
To choose cutting-edge and lightweight materials for vehicles, the biggest automakers and manufacturers invest a lot in research and development. Additionally, the government compelled automotive manufacturers to think about a mass reduction. The aerospace and defense sector, on the other hand, will hold a sizable market share in 2021 and is the second-largest industry vertical. Metal fibers are frequently used in the aircraft industry as hydraulic fluid filters and sound attenuators.
The market for metal fiber is divided into five regions based on geography: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. With a 32% revenue share in 2021, the Asia Pacific region led the world market for metal fibers due to strong demand from China, India, and other Asian nations. Additionally, India is a developing country with a sizable market for automobile, textile, and other industries, thus metal fibers product demand is anticipated to grow in the area over the next years. Additionally, international producers of metal fiber like N.V. Bekaert S.A. have expanded their production operations and product lines into developing nations, which has helped the market for metal fiber grow during the study period.
The global metal fiber market is dominated by players like ArcelorMittal S.A., Fibrometals SRL, BinNova GmbH & Co KG, Addas Group, Green Steel Group, Guven Metal, IntraMicron Inc., MBC Metal Limited, N.V. Bekaert S.A., Nippon Seisen Co. Ltd, Nikko Techno Ltd., Stanford Advanced Materials., among others.
This review is based on a report by Zion Market Research, titled “Metal Fiber Market By Product (Steel, Nickel, Copper, Aluminum, and Others), By Technology (Bundle Drawing, Foil Shaving, Machining, and Melt Spinning), By Application (ESD/EMI Protection, Filtration, Hot Glass Manipulation, Electrical Cables, Specialties, and Others), By Industry Vertical (Automotive, Power & Electronics, Chemical & Materials, Aerospace & Defense, Textile, and Others) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.”- Report at https://www.zionmarketresearch.com/report/metal-fibers-market
The global metal fiber market is segmented as follows:
By Industry Vertical
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651