According to the latest report by IMARC Group, titled, “Metal Fiber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“,The globalmetal fiber market sizereached a value of US$ 4.65 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.96 Billion by 2027, exhibiting at a CAGR of 4.21% during 2022-2027.
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.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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.
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Metal Fiber Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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 and Stanford Advanced Materials.
The report has segmented the market on the basis on type, technology and end use industry.
Steel Copper Nickel Aluminium Others
Bundle Drawing Foil Shaving Machining Melt Spinning
Breakup by End Use Industry:
Automotive Textile Aerospace Construction Power and Electronics Others
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
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Key highlights of the report:
Market Performance (2016-2021) Market Outlook (2022- 2027) Porter’s Five Forces Analysis Market Drivers and Success Factors SWOT Analysis Value Chain Comprehensive Mapping of the Competitive Landscape
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