Global Metal Fiber Market is valued approximately USD 4.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.2% over the forecast period 2020-2027. Metal Fiber is a fiber that is produced using metal. It is a fiber having either a metal, core covered by a metal, plastic coated metal, or a metal coated plastic. Metals such as stainless steel and aluminum are used as metallic fibers in applications such as textile decoration. Metal fibres are used in homes consisting of desirable warmth resistance, electrical conductivity, and excessive electricity and filtration applications. Moreover, metal fiber-based filters are reusable without a decrease in efficiency. This recyclability permits steel fibers to assist the round economic system. The use of metallic fibers in textiles for antistatic fibers and digital industries for weaving, circuit forums utilized in mobiles and computer systems, and others trigger the marketgrowth. Characteristics supplied via metallic fibers inclusive of chemical resistance, corrosion resistance, and excessive tensile electricity are boosting the call for metal fibers and that is anticipated to retain in numerous end-use industries over the forecast period. For instance, according to the World Steel Association, in 2020, steel demand will contract by 6.4%, dropping to 1,654 Mt due to the COVID-19 crisis. In 2021 steel demand is expected to recover to 1,717 Mt, an increase of 3.8 % over 2020. Total crude steel output across 64 major producer countries was 150.2 million tons in February 2021, down by 8% month on month but up by 4% from February 2020. Global crude steel output increased by 4.8% year on year to 162.9 million tons in January 2021, the World Steel Association (Worldsteel) said, marking the third monthly consecutive increase. However, high manufacturing and maintenance costs, lack of flexibility, and availability of substitutes, such as carbon fibers impedes the growth of the market over the forecast period of 2020-2027. Also, development of metal fibers due to stringent government regulations for increasing the fuel efficiency of the vehicles by reducing the overall weight of the vehicle, is likely to increase the market growth during the forecast duration.
The regional analysis of global Metal Fiber market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading region across the world in terms of market share owing to significant demand from China, India, and other countries. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2020-2027. Factors such as huge consumer base and presence of key players in the metal fiber market and the major multinational companies extend their offerings and manufacturing facilities in the developing countries would create lucrative growth prospects for the Metal Fiber market across Asia-Pacific region.
Major market player included in this report are:
NV Bekaert SA
Kosteel. CO., Ltd.
Yutian Zhitai Steel Fiber Manufacturing Co., Ltd
Nippon Seisen Co., Ltd.
Stanford Advanced Materials
Sarda Industrial Enterprises
Green Steel Group
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
By End-Use Industry:
Power and Electronics
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Metal Fiber Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers