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The latest report by IMARC, titled “ Metal Fiber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-202 8
” " the global metal fiber market reached a value of US$ 4.9 Billion in 2022.
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.
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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$ 6.2 Billion by 2028, growing at a CAGR of 4% during 2023-2028.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
Market Summary:
Breakup by Type:
• Steel
• Copper
• Nickel
• Aluminium
• Others
Breakup by Technology:
• Bundle Drawing
• Foil Shaving
• Machining
• Melt Spinning
Breakup by End Use Industry:
• Automotive
• Textile
• Aerospace
• Construction
• Power and Electronics
• Others
Breakup by Region:
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
Competitive Landscape with Key Players:
• 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
• Stanford Advanced Materials
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