According to the latest report by IMARC Group, titled "Metal Fiber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global metal fiber market reached a value of US$ 299.9?Billion in 2021. Metal fiber refers to a thin filament that is generally manufactured using several fibers, such as metallic alloys, plastic-coated metal and pure metals, via thermal and mechanical processes. It is widely used in the production of textile products, plastic-coated metals and porous media. Additionally, it is also utilized in air and liquid filter applications due to its high chemical and heat resistance properties. Some of the common product variants available in the market include sintered, short and polymer pallets metal fibers. They are extensively used for multiple industrial applications owing to their excellent flexibility, ductility, permeability and mechanical strength.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Metal Fiber Market Trends:
The global market is primarily driven by the rising product demand in the textile industry. This is supported by the increasing adoption of synthetic materials for weaving and embroideringfabrics. In line with this, the shifting consumer preference for lightweight materials is significantly impacting the market. Coupled with the widespread utilization of metal fibers in the manufacturing of vehicles for reducing the overall weight of an automobile and enhancingfuel efficiency as an initiative for minimizing carbon emission, this is providing an impetus to the market growth. Moreover, the escalating adoption of metal fibers for the fabrication of circuit boards equipped in computers and mobiles is acting as another growth-inducing factor. Additionally, the growing utilization of the product for reducing wear on engine components and removing contaminants in lube and fuel oil across the marine industry ispositively influencing the market. Other factors, including increasing investments by leading manufacturers for expanding their manufacturing facilities and extensive research and development (R&D) activities conducted by key players, are further propelling the product demand.On account of the aforementioned factors, the market is anticipated to reach a value of US$ 5.96 Billion by 2027, growing at a CAGR of 4.21%during 2022-2027.
- On the basis of the type, the market has been segmented into steel, copper, nickel, aluminium and others.
- Based on the technology, the market has been segregated into bundle drawing, foil shaving, machining and melt spinning.
- On the basis of the end-use industry, the market has been categorized into automotive, textile, aerospace, construction, power and electronics and others.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.?Some of these players include Addas Group, ArcelorMittal S.A., BinNova GmbH & Co KG, Fibrometals SRL, Green Steel Group, Guven Metal, IntraMicron Inc., MBC Metal Limited, N.V. Bekaert S.A., Nikko Techno Ltd., Nippon Seisen Co. Ltd and Stanford Advanced Materials.
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