Metal Fiber Market Report by Technology, Industry Share and Size Expansion to 2027 | Fortune Business Insights™
The global metal fiber market is set to gain momentum from its surging usage in various aircraft as a sound attenuation element. Nowadays, the increasing population in cities is, in turn, raising the volume of air traffic. Hence, the demand for silent aircraft is increasing to lower noise pollution and to control air traffic. Fortune Business Insights™ published this information in a new report, titled, “Metal Fiber Market Size, Share & COVID-19 Impact Analysis, 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 End-Use (Textile, Automotive, Aerospace, Power & Electronics, and Others), and Regional Forecast, 2020-2027.” The report further states that the metal fiber market size was USD 4,701.0 million in 2019 and is projected to reach USD 6,561.6 million by 2027, exhibiting a CAGR of 4.5% during the forecast period.
Effect of COVID-19: Production to Decline Stoked by Reduced Mining Operations
The emergence of the COVID-19 pandemic globally is affecting industrial development and metal production negatively. There is a decline in the prices of metals, such as steel owing to the low demand. In addition to this, the pandemic has halted mining operations, thereby limiting the supply of metals. This factor may obstruct the production of metal fibers drastically. We are offering extensive analysis of the factors that are affecting the market severely. It will help you better understand the scenario and make decisions accordingly.
This Report Answers the Following Questions:
- What are the market drivers, trends, and hindrances?
- Which region would dominate the market in the near future?
- Which segment is set to lead the market by the end of 2027?
- How will the companies surge sales of metal fibers amid the pandemic?
Drivers & Restraints
High Demand for Conductive Textile to Accelerate Growth
The demand for metal fiber is high from the textile industry worldwide. This is because of the recent trend of wearing smart textiles or e-textiles. Also, biomedical clothing contains electrodes made of conductive yarns. Besides, antistatic or conductive textiles are used extensively in a wide range of applications, such as military, electronic devices, home textiles, and optical & pharmaceutical industries.
However, the development of innovative metal fiber production technology requires the assistance of various fields, namely, pressure handling, powder metallurgy, porous materials, and non-woven manufacturing. Manufacturers sometimes are unable to keep up with the requirements. This factor may hamper the metal fiber market growth in the coming years
Rising Usage of Stainless Steel Fibers to Favor Growth of Textile Segment
Based on end-use, the aerospace segment held 16.5% in terms of metal fiber market share in 2019. The textile segment is expected to earn the highest revenue throughout the forthcoming years fueled by the increasing usage of stainless steel fibers and yarns for shielding textiles from electromagnetic interference (EMI).
List of the Leading Companies Profiled in the Global Metal Fiber Market are:
- Bekaert (Belgium)
- Deutsches Metallfaserwerk Dr. Schwabbauer GmbH & Co. KG (Germany)
- IntraMicron (U.S.)
- NIKKO TECHNO, Ltd. (Belgium)
- CREAFIBRES SAS (France)
- Green Steel Group (Italy)
- Fibrometals (Romania)
- Nippon Seisen Co., Ltd. (Japan)
- MBC Metal Limited (China)
- Addas Group (Egypt)
- GUVEN METAL (Turkey)
- BinNova GmbH & Co KG (Germany)
- Other Key Players
Asia Pacific to Remain at Forefront Backed by High Demand from India & China
Asia Pacific dominated the market in 2019 and is likely to remain in its position in the near future. This growth is attributable to the high demand for these fibers from India and China. Also, India would showcase a considerable demand from the textile and automotive industries. In 2019, North America procured USD 629.9 million in terms of revenue. The increasing usage of textiles, such as protective clothing, upholstery fabrics, and carpets is set to surge the demand for metal fiber in this region.
Key Players Focus on Expanding Production to Attract More Customers
The market is highly fragmented. Most of the companies are adopting strategies, such as investments, acquisitions, research & development activities, and innovation to strengthen their positions. Some of the others are broadening their production processes and shifting their facilities to bigger locations for attracting more customers.
Below is a recent industry development:
July 2020: Bekaert will move its US production activities of Dramix® steel fiber to a state-of-the-art facility in Wilkes-Barre in fall 2020. It took this decision because of the high demand for Dramix® steel fiber. The company’s Shelbyville team will assist customers during the entire relocation process. To meet the ‘U.S. made and melt’ requirement, the company is investing in high-quality steel fiber production.
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