The ‘Global Metal Fiber Market Size, Share, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global metal fiber market, assessing the market on the basis of its segments like product, technology, application, end-use, and major regions.
Global Metal Fiber Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 4.87 billion
- Forecast CAGR (2023-2028): 4.30%
- Forecast Market Size (2028): USD 6.27 billion
Increasing awareness regarding the favourable properties of metal fibers and expansion of production capacities are driving the growth of the metal fiber market. These fibers are lightweight while offering similar properties as metals, leading to their widespread adoption in sectors such as automotives, aerospace, and construction. The thriving automotive sector is surging the demand for metal fibers as they are used in various applications such as fuel filters, clutch plates, and brake pads. Due to their lightweight nature, usage of metal fibers in automotives aids in reducing overall weight of the vehicle and aiding in fuel economy. The high strength of metal fibers is also encouraging their usage in automotives to improve the safety of the vehicle.
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Steel metal fibers account for a sizable share of the metal fiber market, supported by their increasing use in end-uses such as construction and textiles. Metal fibers made from steel offer improved resistance and strength, due to which they are used in structural constructions and infrastructure. Development of infrastructure in various nations is surging the demand for the construction sector and steel fibers. In construction, metal fibers are commonly used in insulation, concrete reinforcement, roofing, and composite reinforcement. Meanwhile, aluminium metal fibers are also witnessing a growing demand due to their use in automotive and aerospace sectors.
Metal Fiber Industry Definition and Major Segments
Metal fibers are thin fibers that are produced from materials such as metals, metal coated-plastic, metal alloys, cores covered by metal, or plastic-coated metal. These fibers offer properties such as superior strength, electrical conductivity, and heat resistance, while also being corrosion resistant, highly porous, and flexible, leading to widespread applications across industries.
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Based on product, the market is divided into:
- Steel
- Nickel
- Copper
- Aluminium
- Others
On the basis of technology, the market is classified into:
- Bundle Drawing
- Foil Shaving
- Machining
- Melt Spinning
By application, the market is segmented into:
- ESD/EMI Protection
- Filtration
- Hot Glass Manipulation
- Electrical Cables
- Others
On the basis of end-use, the market is divided into:
- Automotive
- Textile
- Aerospace
- Construction
- Power and Electronics
- Others
By region, the market is categorised into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Metal Fiber Market Trends
Rising popularity of metal fibers in textiles is a key trend in the metal fiber market, increasing the demand for speciality metal fibers that have superior flexibility. Metal fibers are commonly used for their visual aesthetic and ability to add a shine in various textile products such as clothes, bags, footwear, globes, and home décor. More fashion designers are experimenting with metal fibers, utilising classic and traditional designs as well as developing new styles.
Production capacities for metal fibers is projected to rise, providing further opportunities for the metal fiber market expansion. While manufacturing tends to be expensive for metal fibers, usage of recycled metals and materials aid in reducing sourcing material costs. Key players are investing in research and development towards new production technologies and products, including metal fiber foams and metal fiber composites, enabling wider applications of metal fibers.
At a regional level, the Asia Pacific occupies a significant share of the global metal fiber market, supported by rising demand from countries such as India and China. The presence of a strong manufacturing hub in the region, and thriving industries for construction, automotives, and textiles, are further increasing the demand for metal fibers in the Asia Pacific, aiding regional market growth.
Key Market Players
The major players in the global metal fiber market report are NV Bekaert SA, IntraMicron, Inc, Nikko Techno, Ltd., Green Steel Group S.r.l., Fibrometals SRL, Nippon Seisen Co., Ltd., and Addas Group, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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