Metal Fiber Market

Metal Fiber Market Outlook - 2027

The global metal fiber market was valued at $4.5 billion in 2019, and is projected to reach $5.7 billion by 2027, growing at a CAGR of 4.2% from 2020 to 2027.

The outbreak of COVID-19 has disrupted many industrial activities such as construction, automotive, textiles which consequently decreased the demand for metal fiber.

Metal fiber simply implies a fiber that is produced using metal. Most of the applications of metal fibers are based on the properties such as good heat resistance, electrical conductivity, and high strength. It is also highly adopted in filtration application owing to its advantages such as high porosity for low pressure drops, corrosion resistance, flexible for tailor made small products, and others. Moreover, metal fiber-based filters are reusable with no decrease in efficiency. This recyclability allows metal fibers to support the circular economy.

Factors that contribute toward the metal fiber market include rise in demand for steel fiber from construction industry, use of metal fiber in smart textiles, surge in demand for metal fibers for filtration applications, and others. However, high manufacturing cost and availability of the alternatives are some of the factors expected to hinder the metal fiber market growth. In addition, volatility in raw material prices is also one of the factors expected to hinder the market growth. On the contrary, rise in consumer base in developing regions such as Asia-Pacific and LAMEA is expected to offer lucrative opportunities for the industry participants during the forecast period. Aerospace, automobile, and construction are some of the fastest growing consumer base for metal fibers in the developing regions.

The metal fiber market is segmented on the basis of type, end-use industry, and region. By type, the market is divided into steel, copper, nickel, aluminum, others. On the basis of end-use industry, the market is categorized into automotive, textile, aerospace, construction, power & electronics, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The metal fiber market share is analyzed for all regions and segments.

The metal fiber market analysis covers in-depth information of the major industry participants. Some of the major players in the market include Arcelor Mittal, Addas Group, Bekaert S.A, Kosteel Co. Ltd., Yutian Zhitai Steel Fiber Manufacturing Co., Ltd, Nippon Seisen Co., Ltd, Fibrezone India, Stanford Advanced Materials, Sarda Industrial Enterprises, and Green Steel Group. 

Other players in the value chain of the metal fiber market include Freudenberg Group, Fibre Technology Ltd, Sarda Industrial Enterprises, Carlisle Companies Inc., Guven Metal, Sunny Metal, Remix Steel Fiber, Hollingsworth & Vose Company, etc.

The key players adopt numerous strategies, such as product launch, business expansion, acquisition, partnership, collaboration, joint venture, and agreement, to stay competitive in the metal fiber market.

For instance, in July 2020, Bekaert is shifting its U.S. manufacturing activities to a modern and larger site in Wilkes-Barre, Pennsylvania. Its aim is to manufacture Dramix steel fibers so that it can offer U.S. made steel fibers for underground concrete applications and all surface. 

Metal Fiber Market, by Type

By type, the steel segment garnered 33.4% share in terms of revenue in 2019 and expected to grow at CAGR of 4.6% during the forecast period. This is attributed to its dominant application in end-use industries such as construction, textiles, and others. In addition, development of infrastructure in emerging economies with supportive government policies boosts the demand for steel fiber. Steel fiber is mainly used in numerous applications such as refractories, composite reinforcement, and concrete reinforcement. 

Metal Fiber Market, by End-Use Industry

By end-use industry, the textile segment garnered 18.7% share in 2019, in terms of revenue. Gold and silver fibers are extensively used in the fashion industry to improve the look and quality of the fabric. In addition, construction garnered 13.5% share in 2019 this is attributed to the development of infrastructure in the developed and emerging countries, the construction of commercial buildings, river banking projects, and roads have witnessed significant investments. These civil construction projects surged the adoption of metal fibers. Some of the construction projects were halted in early 2020 owing to outbreak of COVID-19. Moreover, participation of developing countries in the aerospace sector is expected to boost the growth of the metal fiber market during the forecast period.

Metal Fiber Market, by Region

Region-wise, Asia-Pacific is expected to grow at a CAGR of 4.6% during the forecast period. This is attributed to presence of emerging economies such as India, China, South Korea, and Thailand. These emerging economies has rapidly growing consumer base such as aerospace, automotive, construction, textile, and others. China is one of the major contributors to the market owing to huge consumer base and presence of key players in the metal fiber market.

Key benefits for stakeholders

• The report outlines the current market trends and future scenario of the metal fiber market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
• The metal fiber market size is provided in terms of revenue.
• The report provides in-depth analysis of the market along with the current and future metal fiber market trends.
• This report highlights the key drivers, opportunities, and restraints of market along with the impact analysis during the forecast period.
• Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
• The study provides a comprehensive analysis of the factors that drive and restrain the market growth.

Impact of COVID-19 on the metal fiber market

• The outbreak of COVID-19 has affected the demand as well as manufacturing in supply regions.
• The manufacturing activities of industries such as automotive, construction, and textiles were disrupted owing to spread of COVID-19 around many countries around the globe, which has resulted in decrease in demand for metal fibers.
• The COVID-19 crisis has affected the chemical industry supply chain to a major extent. Therefore, this led to a major impact on raw material procurement.

 Metal Fiber Market Report Highlights