New York, United States, Nov. 27, 2023 (GLOBE NEWSWIRE) -- Metallic fibers, also called metal fibers, are manufactured fibers composed of metal, metallic alloys, plastic-coated metal, metal-coated plastic, or a core completely covered by metal. Utilizing metallic alloys and pure metals are required to produce metal fiber. Metal fiber, once assembled, can be transformed into porous media, textile products, and other applications. It has corrosion resistance, superior mechanical strength, thermal resistance, high permeability, conductivity, and pliability. Metallic fibers are a desirable class of fibers for composite applications due to their excellent mechanical properties; however, the specific strength or strength-to-weight ratio of metallic fibers is inferior to that of high-performance carbon, polymer, or ceramic fibers because of their greater density.
Metal fibers are distinguished from metal filaments by their diameter. There is a significant increase in demand for metal fiber in various construction applications, such as industrial flooring, tunnel construction, and highway paving. This is due to its properties, including resistance to corrosion and high mechanical strength. Increased demand for filtration applications, an increase in steel fiber usage in the construction industry, and other variables have contributed to the growing popularity of metal fiber. However, the presence of alternatives, high manufacturing costs, and volatile raw material prices are anticipated to restrain the growth of the metal fiber market during the forecast period.
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According to Straits Research, “The global metal fiber market had a revenue share of USD 4,473 million in 2021, which is envisioned to grow at a CAGR of 4.5% and reach USD 6,362 million during the forecast period.” The construction segment is a massive consumer of steel, making it one of the sector's most important contributors. In the construction industry, steel fibers are utilized in many applications, including tunnel concreting, foundation slabs, concrete flooring, slope stabilization, precast tunnel linings, factory and warehouse flooring, and others. The widespread use of steel fiber in construction can be attributed to the material's significant benefits, including increased resistance to abrasion, impact, and corrosion. As a result, market demand for metal fiber is anticipated to increase.
Metal fibers are used in nanofiltration applications, among other applications, such as nanofiltration. In addition to being resistant to high temperatures, corrosion, and high porosity, it also possesses exceptional mechanical strength. Additionally, it has a high level of conductivity. Metal fiber filtration media are an excellent option for surface and deep filtration applications. Metal fiber-based filtration media have a high void space percentage and a porosity of 90%, resulting in a high flow rate, high permeability, and a low-pressure drop. In addition, because metal fibers are flexible, they can be shaped into a variety of designs, and they can be easily adapted to meet the needs of smaller products.
Furthermore, the efficiency of recycled metal fiber filters is not diminished. The ability to recycle metal fibers is a factor that contributes to the growth of a sustainable society. This manner contributes to the development of the metal fibers market.
The Growing Consumer Base in Emerging Economies to Create Global Metal Fiber Market Opportunities
The industries with prominent growth rates are located in developing markets such as India, China, Brazil, Argentina, South Korea, and Indonesia. Construction, aerospace, textile, power & electronics, and automotive are among these industries. Over a billion individuals live in developing markets. The most significant consumers of metal fibers are the sectors of the economy that are expanding at the fastest possible rates. Expanding these industries in emerging economies presents manufacturers of metal fibers with lucrative expansion opportunities. The expansion of these industries is directly attributable to desirable overseas investment initiatives and supportive government regulations.
Regional Insights
The Asia Pacific will command the market with the largest share while growing at the highest CAGR of 4.91% throughout the forecast period. The market's growth in developing nations of the region, such as India, is influenced by high investments in infrastructure projects and an increase in population. There will likely be a rise in demand for metal fiber due to increased spending on developing new infrastructure. Additionally, it will not be challenging to acquire raw materials in China and India, as they rank first and second for metal production globally; this is one of the factors that will encourage industry participants to expand their geographic reach.
Europe will hold a share of USD 1,805 million while growing at a CAGR of 4.15% during the forecast period. Established textile, automotive, and aerospace sectors in Germany, France, Italy, and Spain are among the contributors to the expansion of the European market. As a result of the erupted pandemic, numerous industrial activities in European nations such as the United Kingdom and France were hampered, resulting in a decline in the demand for metal fibers. During the forecast period, demand for metal fibers is anticipated to rise due to a rise in aerospace collaboration between developed nations such as France and the United Kingdom and developing nations such as India.
Key Highlights
- Based on type, the steel segment is expected to hold the most significant market proportion while growing at a CAGR of 4.81% during the forecast period.
- Based on the end-use industry, the automotive segment will likely hold the largest share during the forecast period while advancing at a CAGR of 4.5%.
- Based on regional analysis, Asia Pacific will command the market with the largest share while growing at the highest CAGR of 4.91% during the forecast period.
Competitive Players in the Market
- 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
- Green Steel Group.
Market News
- In 2022, Bekaert S.A partnered with Schaeffler, JM, and TNO to work together for step-change efficiency to be used within electrolysis.
- In 2022, Bekaert S.A installed a solar park on the factory grounds of its Spanish plant, which is a significant step in progressing the company's sustainability ambition to reach Carbon Net-Zero by 2050.
Global Metal Fiber Market: Segmentation
By type
- Steel
- Copper
- Nickel
- Aluminum
- Others
By end-use industry
- Automotive
- Textile
- Aerospace
- Construction
- Power & Electronics
- Others
By region
- North America
- Europe
- Asia Pacific
- LAMEA
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