The global metal fiber market is anticipated to expand at a considerable CAGR during the forecast period. Metal fiber, is a fiber containing a metal, metal coated plastic, plastic coated metal, or a core covered by a metal. Metal fiber has a broad range of application in multiple industries such as power, chemicals & materials, and electronics.
Market Trends, Drivers, Restraints, and Opportunities:
- Rising preferences of consumers for light-weight materials is driving the growth of the global metal fiber market.
- Increasing developments in the textile industry is fueling market expansion.
- Auto-manufacturers are adopting light-weight materials to reduce the overall weight of the vehicle, enhance fuel efficiency, and adhere to the pollution control policies implemented by governments. This, in turn, is boosting the growth of the market.
- Growing demand for metal fiber from the construction industry and surge in demand for this fiber for filtration applications are propelling the market.
- Characteristics of metal fiber such as corrosion resistance, chemical resistance, and high tensile strength are boosting the adoption of metal fiber in various industries for numerous applications, thus driving the market.
- Availability of substitute products and high manufacturing costs are restraining the market growth.
- Volatility in raw material prices is hampering the market growth.
- Increasing consumer base in Asia Pacific, Latin America, and the Middle East & Africa is expected to drive the market during the forecast period.
Scope of the Report:
The report on global metal fiber market includes an assessment of the market, size, share, trends, segments, and regional markets.
2017 & 2018
Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
Global Metal Fiber Market Segment Insights:
The steel segment is projected to hold significant market share
In terms of types, the metal fiber market can be divided into nickel, aluminum, steel, iron, silver, and others. The steel segment led the market in 2019 and this trend is expected to continue during the forecast period. Ability to improve resistance and rising number of non-structural applications are boosting segment growth.
Heating segment holds considerable market share
On the basis of applications, the market can be divided into global filtration, ESD/EMI protection, hot glass manipulation, heating, specialties, and others. Demand for SCR (silicon-controlled rectifier) heating, car seat heating are factors contributing to the heating segment holding considerable share of the market.
Bundle drawing segment holds substantial market share
Based on technology, the metal fiber market can be segregated into melt spinning, machining, foil shaving, and bundle drawing. The bundle drawing process is a common technology adopted to produce metal fibers.
The automotive segment is expected to trigger market growth
In terms of end-users, the metal fiber market can be segmented plastic, glass, textiles, automotive and others. The automotive industry is likely to grow at a significant pace during the forecast period, as various governments are adopting pollution control policies resulting in automotive companies investing in lightweight materials for the vehicles, thus boosting the use of metal fiber.
Asia Pacific dominates the global market
Based on regions, the global metal fiber market can be fragmented into Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the global market in 2019 due to the high demand for metallic fiber from developing countries such as India, South Korea, and China. Major MNCs such as N.V. Bekaert S.A are showing interest in developing regions, thus boosting the market in the region. Furthermore, growth of industries such as automotive and textile is propelling the market in the region.
- ESD/EMI Protection
- Hot Glass Manipulation
- Bundle Drawing
- Foil Shaving
- Melt Spinning
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Companies engage in R&D facilities, innovation, investments, and acquisitions to increase their market share and global presence. Some of the prominent players in the global metal fiber market include Fibrometals SRL, Green Steel Group, MBC Metal Limited, Nippon Seisen Co., Ltd, Addas Group, Guven Metal, BinNova Metal Fiber Technology GmbH, Stanford Advanced Materials, Arcelor Mittal, IntraMicron, Inc., N.V. Bekaert S.A., PPG Industries Ohio Inc., Fiberguide Industries Limited, Fibrezone India, and Sarda Industrial Enterprises.