The global metal fiber market was valued at USD 4,701.0 million in 2019 and is expected to grow to USD 6,561.6 million by 2027, with a Compound Annual Growth Rate (CAGR) of 4.5% over the forecast period.
The market is anticipated to be driven by the desirable characteristics of metal fiber, such as resistance to corrosion and chemicals, along with high tensile strength. The use of metal fiber in textiles for weaving and in the fashion industry for creating handbags, high-heeled shoes, and clothing is expected to contribute significantly to market growth. Additionally, the increasing demand for metal fiber from various sectors, including automotive, textiles, aerospace, and others, is projected to further boost its market demand.
LIST OF KEY COMPANIES PROFILED IN METAL FIBER MARKET:
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
Market Dynamics
Growth Drivers
Technological Advancements: The continuous development of innovative manufacturing processes has enhanced the quality and performance of metal fibers, making them suitable for a broader range of applications. Advanced technologies like 3D printing and nanotechnology are also opening new avenues for metal fiber usage.
Increased Industrial Applications: Metal fibers are increasingly being used in industries that require materials with high strength and resistance to corrosion and wear. Their application in filters, textiles, and composites is particularly notable, driving the demand in sectors such as automotive and aerospace.
Focus on Sustainability: With growing environmental concerns, industries are looking for sustainable and recyclable materials. Metal fibers, being recyclable and having a lower environmental footprint compared to some traditional materials, are becoming a preferred choice.
Market Restraints
High Production Costs: The production of metal fibers involves complex and costly processes, which can limit their affordability and accessibility for some applications.
Substitute Materials: The availability of alternative materials like synthetic fibers and traditional metals that can perform similar functions may hinder the growth of the metal fiber market.
Technical Challenges: Issues related to the brittleness and machining of metal fibers pose significant challenges, affecting their wider adoption in certain industries.
Key Market Segments
By Type
Stainless Steel Fiber: Widely used in textiles and filtration applications due to its excellent resistance to corrosion and heat.
Nickel Fiber: Known for its high electrical conductivity and resistance to oxidation, making it suitable for electronic applications.
Copper Fiber: Valued for its superior electrical conductivity, often used in electrical and thermal applications.
Aluminum Fiber: Lightweight and corrosion-resistant, ideal for applications in the automotive and aerospace industries.
By Application
Textiles: Metal fibers are used in the production of conductive textiles, providing functionalities such as electromagnetic shielding and anti-static properties.
Filtration: Metal fibers are utilized in industrial filters due to their high temperature and corrosion resistance, enhancing the efficiency of filtration processes.
Electronics: The excellent electrical and thermal conductivity of metal fibers makes them ideal for use in electronic components and circuits.
Automotive and Aerospace: Metal fibers are used in composite materials to improve the strength and durability of automotive and aerospace components.
Information Source: https://www.fortunebusinessinsights.com/metal-fiber-market-103888
By Region
North America: The region has a well-established industrial base and a strong focus on research and development, driving the demand for metal fibers.
Europe: Europe is a significant market for metal fibers, particularly in the automotive and aerospace sectors, due to stringent regulations and a focus on sustainability.
Asia-Pacific: Rapid industrialization and increasing investments in infrastructure and manufacturing are propelling the growth of the metal fiber market in this region.
Rest of the World: Other regions are also witnessing growth due to the rising demand for high-performance materials in various industries.