The global metal fiber market size reached US$ 5.1 Billion in 2023. Looking forward, the market is expected to reach US$ 7.0 Billion by 2032, exhibiting a growth rate (CAGR) of 3.6% during 2023-2032. The market is primarily being driven by significant technological advancements in manufacturing, rising focus on environmental sustainability and regulatory compliance, rapidly increasing product demand in automotive and aerospace industries, and increasing collaborations and research and development (R&D) activities by key players.
Steel holds the maximum number of shares in the metal fiber market due to its combination of affordability, availability, and durability. It is an essential material for a wide range of industrial applications, including textiles, filtration systems, automotive and aerospace components. Steel alloys with elements like carbon to produce stainless steel fibers. This adaptability and specialization of steel fibers find resonance in the global stainless-steel market, which is demonstrating a robust growth trajectory. According to the the publisher GROUP, the stainless-steel market is exhibiting a CAGR of 5.34% during 2024 to 2032.
Bundle drawing represents the largest segment due to its scalability and efficiency in creating high-quality fibers from a variety of metals. By bringing several strands together, this technique produces a large number of fibers that are same in thickness and strength. The popularity of bundle drawing can be attributed to its capacity to preserve the qualities and integrity of metal fibers during the manufacturing process. This technique is vital for industries requiring high-performance materials, such as filtration, driving demand for metal fiber bundle drawing. The growth of these industries is leading to an increased adoption of bundle drawing technique.
The report has provided a detailed breakup and analysis of the market based on the end use industry. This includes automotive, textile, aerospace, construction, power and electronics, and others. According to the report, automotive represented the largest segment.
The automotive industry requires materials that offer durability, strength, and lightweight qualities. The high adoption rate of metal fibers in the automotive industry can be attributed to their mechanical capabilities and heat-resistance. These fibers are used to produce exhaust systems, brake pads, and sophisticated filtration units. They enhance vehicle safety, fuel efficiency, and vehicle performance. According to GITNUX, more than 26.3 million automobiles were sold globally, representing a 5% rise from 2020, thus driving the product adoption.
On account of its substantial infrastructure investments, strong industrial growth, and growing automotive and aerospace industries, Asia Pacific leads the global metal fiber market. countries such as China, Japan, India, and South Korea, are making significant investments in technological developments and industrial expansion, thus acting as the main drivers of the dense concentration of manufacturing and technology enterprises of the region.
The need for metal fibers in components and filtration systems is fueled by the rapid growth of the automotive industry, with Asia Pacific serving as a significant hub for automobile production and innovation. This growth can be attributed to the increasing development of EVs by key companies across the region. For instance, in December 2022, Tata Motors entered into a contract with Everest Fleet Pvt. Ltd. for the delivery of 5,000 XPRES-T EVs.
2. What is the expected growth rate of the global metal fiber market during 2024-2032?
3. What are the key factors driving the global metal fiber market?
4. What has been the impact of COVID-19 on the global metal fiber market?
5. What is the breakup of the global metal fiber market based on the type?
6. What is the breakup of the global metal fiber market based on the technology?
7. What is the breakup of the global metal fiber market based on the end use industry?
8. What are the key regions in the global metal fiber market?
9. Who are the key players/companies in the global metal fiber market?
Metal Fiber Market Analysis:
- Major Market Drivers: The increasing demand for durable and lightweight materials in the automotive and aerospace industries and better properties as compared to conventional fibers are some major market drivers.
- Key Market Trends: Expansion of the textile industry where metal fibers are used for strength, conductivity, and flexibility in smart textiles and protective clothing.
- Geographical Trends: Asia Pacific holds the maximum number of shares due to rapid urbanization. The second largest market is Europe due to the presence of robust automotive industry.
- Competitive Landscape: Some of the major market players in the metal fiber industry include 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 among many others.
- Challenges and Opportunities: The challenges of metal fiber market include price sensitivity among consumers on account of the high cost of production and materials. Opportunities of the market include increasing demand in the aerospace and automotive industries for lightweight and durable components.
Metal Fiber Market Trends:
Significant Technological Advancements in Manufacturing
Technological developments in production methods have had a major impact on the metal fiber business. The production of metal fibers is now more cost-effective, efficient, and of higher quality due to advancements in production procedures. For instance, 3D printing of metal fibers can cut material waste 90%. Thermoplastic materials are utilized in 3D printers such as the Nexa3D QLS 230 and QLS 236. These materials can be melted and reused. This reduces resource consumption and keeps waste out of landfills by enabling material recycling and reusability.Growing Demand in Automotive and Aerospace Industries
The growing product demand in automotive and aerospace industries is propelling the market growth. These industries have stringent demands for high-strength, lightweight materials to improve the performance and fuel efficiency. Metal fibers used in exhaust filtering systems and battery electrodes are being used more frequently in the automobile industry due to the increased demand for electric cars (EVs) and stricter emissions restrictions. For instance, according to the the publisher GROUP, the worldwide EV industry is predicted to expand at a compound annual growth rate (CAGR) of 34% during 2024-2032, which will significantly raise the need for metal fibers in battery applications.Environmental and Regulatory Pressures
Environmental and regulatory pressures is positively driving the metal fiber outlook. Metal fibers have the leave a reduced environmental impact than conventional fibers and are more recyclable. Regulations which demand a decrease in waste and emissions, especially in the automotive and industrial sectors, are driving the use of metal fibers in filtering and emission control applications. For instance, the implementation of stringent environmental regulations such as the Euro 6 standards for vehicle emissions in Europe has made advanced filtration solutions necessary, increasing the utilization of metal fibers in automotive exhaust systems.Metal Fiber Market Segmentation:
This report provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. The report has categorized the market based on type, technology, and end use industry.Breakup by Type:
- Steel
- Copper
- Nickel
- Aluminium
- Others
Steel accounts for the majority of the market share
The report has provided a detailed breakup and analysis of the market based on the type. This includes steel, copper, nickel, aluminium, and others. According to the report, steel represented the largest segment.Steel holds the maximum number of shares in the metal fiber market due to its combination of affordability, availability, and durability. It is an essential material for a wide range of industrial applications, including textiles, filtration systems, automotive and aerospace components. Steel alloys with elements like carbon to produce stainless steel fibers. This adaptability and specialization of steel fibers find resonance in the global stainless-steel market, which is demonstrating a robust growth trajectory. According to the the publisher GROUP, the stainless-steel market is exhibiting a CAGR of 5.34% during 2024 to 2032.
Breakup by Technology:
- Bundle Drawing
- Foil Shaving
- Machining
- Melt Spinning
Bundle drawing holds the largest share of the industry
A detailed breakup and analysis of the market based on technology have also been provided in the report. This includes bundle drawing, foil shaving, machining, and melt spinning. According to the report, bundle drawing accounted for the largest market share.Bundle drawing represents the largest segment due to its scalability and efficiency in creating high-quality fibers from a variety of metals. By bringing several strands together, this technique produces a large number of fibers that are same in thickness and strength. The popularity of bundle drawing can be attributed to its capacity to preserve the qualities and integrity of metal fibers during the manufacturing process. This technique is vital for industries requiring high-performance materials, such as filtration, driving demand for metal fiber bundle drawing. The growth of these industries is leading to an increased adoption of bundle drawing technique.
Breakup by End Use Industry:
- Automotive
- Textile
- Aerospace
- Construction
- Power and Electronics
- Others
The report has provided a detailed breakup and analysis of the market based on the end use industry. This includes automotive, textile, aerospace, construction, power and electronics, and others. According to the report, automotive represented the largest segment.
The automotive industry requires materials that offer durability, strength, and lightweight qualities. The high adoption rate of metal fibers in the automotive industry can be attributed to their mechanical capabilities and heat-resistance. These fibers are used to produce exhaust systems, brake pads, and sophisticated filtration units. They enhance vehicle safety, fuel efficiency, and vehicle performance. According to GITNUX, more than 26.3 million automobiles were sold globally, representing a 5% rise from 2020, thus driving the product adoption.
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
Asia Pacific leads the market, accounting for the largest metal fiber market share
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific represents the largest regional market for metal fiber.On account of its substantial infrastructure investments, strong industrial growth, and growing automotive and aerospace industries, Asia Pacific leads the global metal fiber market. countries such as China, Japan, India, and South Korea, are making significant investments in technological developments and industrial expansion, thus acting as the main drivers of the dense concentration of manufacturing and technology enterprises of the region.
The need for metal fibers in components and filtration systems is fueled by the rapid growth of the automotive industry, with Asia Pacific serving as a significant hub for automobile production and innovation. This growth can be attributed to the increasing development of EVs by key companies across the region. For instance, in December 2022, Tata Motors entered into a contract with Everest Fleet Pvt. Ltd. for the delivery of 5,000 XPRES-T EVs.
Competitive Landscape:
- The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the metal fiber industry include 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.
- In order to improve their market position and satisfy the changing needs of different industries, major players in the metal fiber sector are actively pursuing strategic initiatives. Investing in R&D to innovate and improve the quality, performance, and variety of applications of metal fibers is one of these activities. Additionally, industry leaders use mergers and acquisitions (M&As) to increase their capabilities. Key firms can gain access to new technology, broaden their product offerings, and penetrate new geographic markets by purchasing or merging with other businesses. This strengthens their competitive advantage and also aids in giving diversification to satisfy the particular needs of many sectors. For instance, Bekaert shifted its U.S. manufacturing activities to a modern and larger site in Wilkes-Baree, Pennsylvania. It primarily aims to produce Dramix steel fibers so that is able to offer U.S. made steel fibers for underground concrete applications and all surfaces.
Metal Fiber Market News:
- June 2021: Bekaert SA offers steel fiber reinforcement solutions like Dramix steel fiber to concrete which increases crack control, making structures more resistant to fatigue and heavy impact. By using steel fibers like Dramix, significant cost savings were achieved in projects like SMP Automotive in Alabama, US, where traditional rebar-based reinforcement was replaced. Bekaert SA focuses on providing unique concrete reinforcement solutions for various markets, emphasizing sustainability, efficiency, and durability in their projects .
Key Questions Answered in This Report
1. How big is the global metal fiber market?2. What is the expected growth rate of the global metal fiber market during 2024-2032?
3. What are the key factors driving the global metal fiber market?
4. What has been the impact of COVID-19 on the global metal fiber market?
5. What is the breakup of the global metal fiber market based on the type?
6. What is the breakup of the global metal fiber market based on the technology?
7. What is the breakup of the global metal fiber market based on the end use industry?
8. What are the key regions in the global metal fiber market?
9. Who are the key players/companies in the global metal fiber market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Metal Fiber Market
6 Market Breakup by Type
7 Market Breakup by Technology
8 Market Breakup by End Use Industry
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 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
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 138 |
| Published | September 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 5.1 Billion |
| Forecasted Market Value ( USD | $ 7 Billion |
| Compound Annual Growth Rate | 3.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
