As per Market Research Future (MRFR) analysis, the global metal fiber market held a valuation of USD 4.5 billion in 2018. It is expected to register a CAGR of roughly 8.1% from 2019 to 2025 (forecast period). The report provides comprehensive analysis of the latest developments in the Metal Fiber Market. In addition, the study also takes into account the COVID-19 impact on the metal fiber market and offers a precise estimate of the anticipated demand fluctuations during the forecast period.
Metal fiber is a processed fiber made of various types of coating methods, such as plastic coated with metal, metal coated with plastic, and any fiber can be called metal fiber if it has one of its compositions, although it can be differentiated from metal filaments on the basis of its diameter, typically the diameter for metal fibers is between 1μm and 100 m anything significantly larger could be considered as a filament.
Market Dynamics
Metal fibers are lightweight materials with high strength. These features make them an ideal product for use in space, aviation, automotive, and weapons industry, generating a massive demand on the market for metal fibers. Demand is also growing in the electrical and textile industries due to the insulation capacity and perfect finishing of metal fibers.
However, the lack of flexibility, rigidity, and high cost of manufacturing is expected to impede market growth during the assessment period.
Market Segmentation
The global market for metal fiber has been segmented into type, application, technology, and end-user.
By type, the global market for metal fiber has been classified as copper, nickel, aluminum, silver, iron, and others. Among these, aluminum was the largest market in 2018, due to its high conductivity, thermal resistance, and being lightweight.
By application, the global market for metal fiber has been segmented into filtration, hot glass manipulation, ESD/EMI protection, heating, or other specialties.
By technology, the global market for metal fiber has been split into foil shaving, bundle drawing, machining, and melt spinning. Bundle drawing is the most commonly used process to produce metal fiber.
By end-users, the global market for metal fiber has been segmented into textiles, automotive plastic, glass, and others. Due to the use of metal fibers in various applications, such as ESD / EMI safety, the heating, hot glass manipulation in handbags, footwear, home decor, etc., the textile industry holds the largest share in the global market for metal fiber.
Regional Analysis
Region-wise, the global market for metal stamping automotive has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America had the largest share of the global market for metal fiber in 2018 and is predicted to maintain its dominance during the forecast period. High consumption of textile products such as protective clothing, carpets & upholstery fabrics, and plastics compounds are increasing the demand for metal fibers. In addition, the region's developed automotive industry produces metal fiber embedded brake pads, clutches, and car seat heaters, increasing the overall demand for metal fiber in the regional market.
Europe held the second-largest position in the global metal fiber market in 2018 and is predicted to show promising growth during the forecast period, as metal fiber is used in thermal clothing for the production of personal protective equipment (PPEs) that is primarily used in the F&B and construction and mining sectors. In addition, the significant presence of the following sectors has spurred the overall growth of metal fiber in the regional market.
The key drivers of metal fiber growth in the Asia Pacific region are increasing industrialization in countries like India, China, and Japan, leading to high demand for metal fiber. In addition, programs such as ‘Make in India,' which encourage policies such as foreign direct investment (FDI), have boosted the manufacturing and production segment of the region, assisting the overall growth of metal fiber in the regional market.
The high cost of production accounted for the low growth of metal fiber in Latin America. However, the region is dependent upon moderate developments during the forecast period due to rising industrialization in countries like Brazil, Mexico, and Chile.
Due to the increasing infrastructure and construction sector in the regional market, the Middle East & Africa is projected to have a steady growth in the metal fiber market over the forecast period under review.
Key Players
Some of the significant participants operating in the global metal fiber market are Hollingsworth & Vose Company (US), Carlisle Companies Inc. (US), Bekaert (Europe), Magnetic Shield Corporation (US), Dexmet Corporation (US), Sarda Industrial Enterprises (India), Interstate Specialty Products (US), Freudenberg Group (Germany), Stanford Advanced Materials (US), Fibre Technology Ltd (UK), Hunan Huitong New Materials Co., Ltd. (China), Green Steel Group (Italy), American Metal Fibers, Inc. (US), Addas Group (Egypt), and Fujikura Europe Ltd. (UK).
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