Metal Fiber Market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights™
The global metal fibermarket is set to gain momentum from its surging usage in various aircraftas a sound attenuation element. Nowadays, the increasing population in citiesis, in turn, raising the volume of air traffic. Hence, the demand for silentaircraft 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-19Impact Analysis, By Product (Steel, Nickel, Copper, Aluminum, and Others), ByTechnology (Bundle Drawing, Foil Shaving, Machining, And Melt Spinning), ByApplication (ESD/EMI Protection, Filtration, Hot Glass Manipulation, ElectricalCables, Specialties, and Others), By End-Use (Textile, Automotive, Aerospace,Power & Electronics, and Others), and Regional Forecast, 2020-2027.” Thereport further states that the metal fiber market size was USD 4,701.0 millionin 2019 and is projected to reach USD 6,561.6 million by 2027, exhibiting aCAGR of 4.5% during the forecast period.
Effect of COVID-19: Production toDecline Stoked by Reduced Mining Operations
The emergence of the COVID-19 pandemicglobally is affecting industrial development and metal production negatively.There is a decline in the prices of metals, such as steel owing to the lowdemand. In addition to this, the pandemic has halted mining operations, therebylimiting the supply of metals. This factor may obstruct the production of metalfibers drastically. We are offering extensive analysis of the factors that areaffecting the market severely. It will help you better understand the scenarioand make decisions accordingly.
This Report Answers the FollowingQuestions:
- 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 toAccelerate Growth
The demand for metal fiber is high fromthe textile industry worldwide. This is because of the recent trend of wearingsmart textiles or e-textiles. Also, biomedical clothing contains electrodesmade of conductive yarns. Besides, antistatic or conductive textiles are usedextensively in a wide range of applications, such as military, electronicdevices, home textiles, and optical & pharmaceutical industries.
However, the development of innovativemetal fiber production technology requires the assistance of various fields,namely, pressure handling, powder metallurgy, porous materials, and non-wovenmanufacturing. Manufacturers sometimes are unable to keep up with therequirements. This factor may hamper the metal fiber market growth in thecoming years
Segment
Rising Usage of Stainless Steel Fibersto Favor Growth of Textile Segment
Based on end-use, the aerospace segmentheld 16.5% in terms of metal fiber market share in 2019. The textile segment isexpected to earn the highest revenue throughout the forthcoming years fueled bythe increasing usage of stainless steel fibers and yarns for shielding textilesfrom electromagnetic interference (EMI).
List of the Leading Companies Profiledin 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
Regional Analysis
Asia Pacific to Remain at ForefrontBacked by High Demand from India & China
Asia Pacific dominated the market in2019 and is likely to remain in its position in the near future. This growth isattributable to the high demand for these fibers from India and China. Also,India would showcase a considerable demand from the textile and automotiveindustries. In 2019, North America procured USD 629.9 million in terms ofrevenue. The increasing usage of textiles, such as protective clothing,upholstery fabrics, and carpets is set to surge the demand for metal fiber inthis region.
Competitive Landscape
Key Players Focus on ExpandingProduction to Attract More Customers
The market is highly fragmented. Mostof the companies are adopting strategies, such as investments, acquisitions,research & development activities, and innovation to strengthen theirpositions. Some of the others are broadening their production processes andshifting their facilities to bigger locations for attracting more customers.
Below is a recent industry development:
July 2020: Bekaert will move its US production activities ofDramix® steel fiber to a state-of-the-art facility in Wilkes-Barre in fall2020. It took this decision because of the high demand for Dramix® steel fiber.The company’s Shelbyville team will assist customers during the entirerelocation process. To meet the ‘U.S. made and melt’ requirement, the companyis investing in high-quality steel fiber production.
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